Blink Commerce Private Limited, d/b/a Blinkit and formerly Grofers, is an Indian instant delivery service. It was founded in December 2013 and is based out of Gurgaon. Customers of the company use a mobile application to order groceries and essentials online.

Grofers - Wikipedia

Formerly Grofers. Order fruits, vegetables &amp; groceries and get them in minutes

Blinkit: Grocery in minutes - Apps on Google Play

Shop online for groceries and get your order delivered at your doorstep in minutes. Enjoy instant delivery with blinkit

Everything delivered in minutes | Blinkit

Read reviews, compare customer ratings, see screenshots, and learn more about Blinkit: Grocery in minutes. Download Blinkit: Grocery in minutes and enjoy it on your iPhone, iPad, and iPod touch.

blinkit (formerly grofers) on the App Store

This why the company rushed with its rebranding exercise ⁠— changing the name of the company to Blinkit ⁠— taking it live within a week of deciding the name. Five years after it gave up on 90-minute deliveries because of bad unit economics and lack of profitability, Grofers rushed to ...

INTERVIEW: Grofers founder explains why he rushed to rebrand the ...

Grocery delivery app, Grofers announced it would be rebranding itself to &#x27;Blinkit&#x27;. The move, the company explained in a blog post, is synonymous with its vision for quick commerce. The name reflects its endeavour of getting groceries delivered within ten minutes, reflective of the &#x27;blink of ...

Grofers Rebrands to 'Blinkit'

Engineering graduates Dhindsa and Saurabh Kumar founded Grofers as an online grocer in late 2013. Its expansion into the wider Indian e-commerce space pits it directly against formidable rivals such as Flipkart, Amazon and the retail push of tycoon billionaire Mukesh Ambani&#x27;s Reliance (RELI.NS) in a market which EY expects to grow at an average 27% annually, to touch $99 billion by 2024. Dhindsa said the company...

India's Grofers renames itself Blinkit with eye on faster deliveries ...

Grofers has rebranded as Blinkit to indicate its focus on the fast-growing quick commerce space in India. The company now claims to be processing a million such orders every week across 12 cities.13 Dec, 2021, 01:37 PM IST

grofers: Latest News & Videos, Photos about grofers | The Economic ...

665 Blinkit reviews. A free inside look at company reviews and salaries posted anonymously by employees.

Grofers Reviews | Glassdoor.co.in

We are already one of the largest e-grocery companies in India. Our ambition however, is to be 100x this size in the next five years.

grofers | aboutus

Grofers

grofers

To understand the NFT ecosystem better, I recently bought my first NFT (image above). An NFT is basically an image backed by a unique digital key or a property title, visible transparently to everyone since it’s on the blockchain. Featured Image: The Goblin Laboratory NFT I bought for 3 SOL I bought one from — which has 26k highly engaged members on its Discord channel, 29k followers on , and came recommended by a clued into the NFT ecosystem. The NFT-drop sold out in 6 minutes. I liked the artist, the art itself seemed like something I would be proud to own and show off in the online and offline world. So by all accounts, a good first project to start with. Goblin Laboratory Twitter friend As an NFT-owner, I’ve been thinking about what the upside scenarios look like for me, the value this NFT brings to me, and also if I would buy another one. I heard the Tim Ferriss podcast with Chris Dixon and Naval Ravikant to help me think through these topics. episode Here’s my take below, weaved in with a few snippets from the show: Scenario 1: Art for the Sake of Art, the Price of the NFT Appreciates The easiest upside scenario to contemplate here is an appreciation of the value of the NFT — someone values the art I bought more than I do and is willing to pay more than I was. I get to sell my NFT at a profit and because of the way the smart contract is structured, the creator of the NFT gets a portion of the sale proceeds as well. This happens automatically, without anyone’s intervention. This distinct feature, where a creator gets rewarded for further sales of NFTs, is clearly a feature upgrade that makes NFTs a lot more valuable to creators. Summarising from the podcast: Tim Ferriss “ ” It’s not because of the initial sales price. The model for authors, musicians, has some royalty component but you get paid upfront and then you have a pittance that you make going forward. With a smart contract, instead of a ton of middlemen, who are taking a lion’s share of the profits, you can set in advance certain things that happen automatically e.g., if your work is resold, you can make money on secondary sales and it’s all done automatically. They don’t have to trust an agent, a rep, or a curator. They don’t have to trust some accountant because it’s all on the blockchain. Skeptics will argue that they can right-click and save this image and therefore also “own” it. But, as in the offline world, anyone can buy copies of the Mona Lisa. If one can appreciate provenance and authenticity in the offline world, it should translate to the online world. Provenance in the art world is documentation that confirms its authenticity mainly through ownership history. This is exactly what the blockchain provides. As it happens though, the Goblin Laboratory project has not appreciated in value. Since I bought it, the price has dropped by about 50% on . I don’t intend on selling it right now, but what are the ways in which appreciation or value creation happens next? solanart.io Scenario 2: Happiness in the Metaverse with Access to the Artist’s Future Creations and a Stake in the Goblin Community The NFT acts as an automatic verification check if the artist or the project is planning to limit access to future assets/ events in some way. Say, for example, access to future NFT drops, or to voting rights on the direction in which the Laboratory should head, etc. In this case, the artist has granted all Goblin NFT holders a free NFT of their next creation, the Sentinels. The Sentinels NFT (featured below) looks absolutely gorgeous. If I value the NFTs I get as a member of this community and other benefits that may accrue from time to time (like merchandise etc.), I would probably feel like I got a reasonable return for the money I paid up-front for the Goblin NFT. Caption: The Sentinels NFT that got dropped to my wallet One can certainly imagine a sports team or band-limiting access to its merchandise/ media to holders of their NFTs to extract the maximum value. Devoted fans would likely be willing to pay for such exclusivity. Chris Dixon also talks about using NFTs as a device for patronage. “ ” I buy NFTs — I bought some from a graphic designer. He now DMs me, we’re friends. It’s fun for me to be able to talk to an artist and at the same time support him in a non-transactional way. Eventually, these digital assets could become the status markers in the world; the equivalent of a Birkin bag or an iPhone. At that point, perhaps all of these NFTs that I’ve collected help me build a Metaverse identity that I’m proud of. de jure Scenario 3: The Project Accumulates Value by Becoming Part of a Game, Movie, Music Album etc. This is how summarises the ownership of NFTs and what can be built on top. Naval “ ” Digital private keys enable digital private properties. So we finally have private property on the internet and we don’t need people like Spotify or even the studios and labels to determine who owns what private property and hold it with their database entries and their lawyers. We can each do it ourselves. ” “Today if I want to build something on top of the Star Wars platform, I have to go cut a deal with Disney. But in the NFT world, artists are basically giving away the concept and people will be building games, cultural artefacts, new memes, new music on top of NFTs and more value will accrue to the NFT because now it’s becoming more popular. It kind of blows away the idea of copyright and intellectual property and instead it creates the most powerful media in the world — music, movies, books. Chris continued: “ ” The next stage, which people are playing around with now, is to have the community create narratives — imagine the next Harry Potter is owned by the NFT holders and they get to write all sorts of interesting fiction. This makes a lot of sense theoretically. It is absolutely possible that a video game, a cinematic or comic book universe is built on top of the Goblins lore and imagery. In fact, some of this is already happening in the Goblin community. People are writing lore and creating narratives. Can someone just take all of this and create a coherent movie/book with it? Who stands to gain when this happens? A few questions in this context: > Does the person building on top of this universe need to pay for the underlying NFTs and the storylines? > Does the person who shared a storyline on a discord channel really “own” that narrative? > Does this become a copyright issue that a centralised authority — i.e., a legislative body/court of law — will need to settle? If that’s the case, does the decentralised, smart contracts-governed NFT universe start to lose some of its value? > If the artist gets included in the new project and stands to gain from the sale of the game, movie or book, will it be incumbent upon him to share that with the rest of the Goblins community? > Is the value that comes to me as an NFT holder just the price appreciation from the fact that Goblins is now becoming part of mainstream culture? The podcast talks about the project and the fact that they sold the commercial rights along with the NFT. The writes: “ BoredApeYachtClub New Yorker each member is allowed to brand his own projects or products and sell them independently. In the three months since the club launched, Bored Ape owners have put the cartoon primates on lines of craft beer and created animated YouTube series made painted replicas, ” and designed skateboard decks. If the creator makes money from every sale of a bottle of beer, technically a smart contract cannot govern that. We’re back in the real world, with lawyers and contracts and centralised brokers. How is it different from Starbucks buying the rights to use the Starbucks mermaid from its creator? The minute the use-cases step out into the non-digital world, the smart contract execution chain breaks and the rules of contract and intellectual property that govern all media assets take over. Naval also alludes to this: “ you can link NFTs to the real world through social contracts.” The fact that the Bored Apes launched as NFTs, probably granted it status and virality that the creator might not have been able to generate otherwise. It will surely be interesting to see what happens when NFT drops become commonplace and lose the exclusivity they come with right now. So, would I buy an NFT again? Yes, if I like the art and the artist. The time to flip and make a quick buck has probably passed. I would now buy NFTs I like to continue to learn about the asset class, the communities built around them and probably hold on to witness the ways in which they might evolve in the future. The secondary sale and verification use cases certainly seem to be promising in terms of what gets built on top. Chris and Naval seem to agree: “ even though some of these art projects will turn into larger franchises that will launch movies and games and books, many won’t. If you want to buy NFTs, buy the stuff you like, because at the end of the day what you’re probably going to end up with is a cool Jpeg.” About the author: I am a Partner at Saison Capital . Prior to this, I was an early employee at 2 unicorns: Grofers in India and Lazada in South East Asia. I’m @vheesaa on Twitter and this is my profile on Linkedin. Disclaimer: As mentioned in the title, I own NFTs by Goblin Laboratory

Here's Why I'll Continue Buying NFTs

And how it led me to a Software Engineering job at one of India’s largest online grocery company. “Community is much more than belonging to something; it is about doing something together that makes belonging matter” — Brian Solis When I was in college, I had a clear agenda in place. I had decided to spend less time figuring out the next class I had to attend and spend more time building my network. I was always of the opinion that college was more than just courses. For me, college was an institution that allowed you to find cool people and create cool stuff with them. So right when I joined, I started participating in various tech communities by the means of workshops, events, and meetups. Tech communities not only help you upskill your technical skills but also provide high visibility among recruiters. These communities are driven by a group of people with a shared code of conduct to help and respect each other. By nature, these communities are also sustainable, intellectually stimulating, and help you grow in your career. And one such meetup community helped me grow mine. Hi, I am and I now work at as a Software Development Engineer. This is a short story of how all of this came to be. Ekta Garg Grofers Finding your network About a year ago, I started learning the . Most of you might already know that this language is relatively new as compared to languages like Python, Java. Go programming language As a part of my learning process, I decided to join multiple groups and GO communities to get quick solutions to my problems and get more information around tools being used and best practices to follow in Go. While going through public GO slack channels, I came across . Golang Gurgaon As I went through this channel, I got to know that where you get the opportunity to submit a talk, meet experts in technology, learn/understand concepts of Go programming language and ask questions. And I found this to be incredibly useful, because: Grofers organizes Golang meetups I could be a part of the growing Go community I could network, ask questions, and be on top of trends When ready, I could also present my ideas by submitting a talk. So, on the slack group, I reached out to — who leads these meetups — to ask if I can submit a talk. Kasisnu I shared my work experience in Go and my proposal for the talk got accepted. This was the response: Kasisnu also helped me prepare the talk. When you see someone as involved in the process as you are, it results in an intense drive and motivation. A quick note on how I prepared for my talk: - I created a basic TODO project on the topic I was going to explain. - I went through the entire documentation of that particular topic so that I can understand the topic thoroughly and be able to answer any question if anyone asks. The Weird Turn of Events Here’s the kicker: due to a personal emergency, I could neither attend the meetup nor present the talk. I was pretty bummed out, to say the least. However, I was still keen on sharing what I had prepared anyway. So I wrote a comprehensive blog post on it: . Golang: A Todo App using GIN — Ekta Garg I wrote the post and shared it with everyone on the slack group — highlighting what I had done and what I was planning to do next with my career. And that’s when I got this message. Hey, Ekta. Could you send your resume? Kasisnu had seen my post and what I planned to do next and he reached out to me for the opportunity of working with Grofers. I had no time to contain my excitement because the rest of the process happened fast. Here is the specific timeline: It took 4–5 days to process my application before “Hola Amigos! I got a very first call from Grofers”. I had a small discussion around my experience and they scheduled my first skype interview. The next day I had the skype interview around the projects I have done, DevOps concepts, GO concepts and everything else I had mentioned in my resume. 2 days later, I got a call for a coding test link to Hackerrank coding challenge from Grofers which I had to attempt within 1–2 days. I had two more technical rounds, majorly focused on data structures, competitive programming, real-world architectural problems. At last, the final round was with the manager of my team and it was awesome where I was asked about git workflow, working in teams, working as an individual, code optimization, following coding standards, etc. Later in the evening, I got the “Congratulations” call.That’s basically me after the last call The Golang Gurgaon meetup and the chance of submitting a talk to it really pushed me to work on things I might not have done otherwise in such a short span of time. And all of this would not have been possible without the magic of a tech community. Conclusion If you aren’t already an active participant in any tech communities, I invite you to belong, to contribute to open source, to attend meetups, to develop a habit of giving back to the community in any form (blogs, vlogs, etc). I invite you to share what you have created so you can together create technology that solves some of the world’s biggest problems. Tech communities changed my life for the better and they can change yours too. All it takes is going out there and saying hello.

The Power of Tech Communities

Recently I had the opportunity to travel around , interact with entrepreneurs and consumers, and witness the incredible change in consumer behavior. I’m jotting down some of my observations that I feel are worth sharing: India Digital consumerism India’s consumers are increasingly becoming digital at a pace much beyond our . They are multi-faceted, and transcend the boundaries posed by urban differentiation, age, literacy, and technological savviness. Here are some of my observations — imagination a. My 67 years old mother was technologically illiterate until six months back. I gifted her a smartphone so that I could connect with her when she stepped out of the house. I soon realized I had underestimated her tech ability when she sent me a whatsapp message and told me she had shopped online with a friend’s help. She had ordered a blender that wasn’t available in her Tier 4 town of Govardhan in northern India. She was thrilled to know that the product was 30 per cent cheaper online. She has now installed Flipkart on her phone and browses through it for good deals. As she learned more about the online world, she joined Facebook to connect with her children and grandchildren, turned to Facetime for a virtual experience, and became a YouTube user to watch devotional songs. b. A good friend of mine, who recently returned to his hometown, Jaipur (Tier 2 City) from New York got a re-entry shock when he discovered the rapid digitalization of India. He has replicated his American consumer behavior in Jaipur and uses e-commerce actively to buy and sell a vast range of items ranging from grocery to furniture. Here are some of his recent transactions- i. Bought a brand new sofa at Snapdeal and got it delivered within a few days. ii. Used OLX to sell his old sofa at a very reasonable price. iii. Uses PayTm for a regular supply of high quality dry fruit from a different state. c. In the US, we recently moved to online grocery shopping but it took my wife a long time to give up retail shopping for perishable items. During this visit, I was surprised to see that in India, a large number of people are graduating to online order services like Big Basket and Grofers. This trend is not limited to only Tier 1 cities in India but becoming mainstream in Tier II cities as well. d. In the last one or two years, there has been a major shift in the behavioral pattern of car owners. Instead of commuting in their chauffeur driven cars, many now prefer to switch to on-demand taxi services like Ola and Uber. They feel it’s more convenient to limit themselves to a single car given the lack of parking space. Additionally it’s more economical and it eliminates their dependence on a personal driver. e. In addition to digital consumers, SMEs are increasingly conducting businesses on Whatsapp. Vendors are taking orders and getting immediate confirmation from their customers through this mobile app. Not to be left behind, religious leaders have also discovered the efficiency of whatsapp to disseminate their thoughts to their followers. Passion and energy of Indian entrepreneurship The next wave of growth is not only being led by Tatas, Birlas, and Ambanis of India. Matching their steps or sometimes surpassing them are the forward looking first generation entrepreneurs. Most of them are in their 20s and 30s, have a bold vision, and the determination to achieve their big, hairy, audacious goals. Here’s what I gleaned from my interactions with the following entrepreneurs- Naveen Tewari, a good friend, who operates from Bangalore (India’s silicon valley), is focused on disrupting the way mobile advertising industry operates globally. While a lot has been said about how his company has already made a dent in the industry globally, what stood out for me is the culture that he has created for employees to grow and realize their full potential. The philosophy is to create a culture which helps grow employees vs. manage their performance. For instance, if an employee has an idea, which could help the company grow, he or she is encouraged to pursue it. More interestingly, if an employee wants to take the entrepreneurial route, Inmobi’s ecosystem provides the required support (e.g., use of office space, support network, mentorship). Such a culture is a new phenomenon in India, and Naveen is one of the pioneers in India. a. InMobi: Vineet Saxena, another good friend who was a co-founder of Myntra, a popular online fashion retailer, is one of the pioneers who helped shape the e-commerce market in India. He is now working on an audacious goal of creating at-scale private brands for ethnic wears in India through his latest venture, Indusdivas, an Indian ethnic wear portal. b. Indusdiva: Founded by twenty-something IIT Roorkee alumni, Shashank Kumar and Harshil Mathur, Razorpay, aims to revolutionize the online payment industry in India. In a market where the competition is high for the online payment gateway solutions, they claim to have a much superior product tailored for the Indian market (e.g., slow connection, unreliable network). They are hoping to capture a lion’s share of the market without being caught in a price war c. Razorpay: Deepak Garg, a former McKinsey consultant has taken on the mammoth task for transforming the traditional inter-city logistics industry via technology. He feels that the problem in India is at the supply side: be it the quality of trucks, driver efficiency, or the optimum route. He has established a fleet of trucks equipped with technology for optimal fuel efficiency and route, and created hubs around the country to minimize truck downtime, and improve the quality of life for drivers. He is looking to streamline the highly fragmented trucking industry in India (which could be over $100 billion in India) and could potentially be going global. d. Rivigo (earlier Trucksfirst): Finally I met a lot of aspiring entrepreneurs who are looking to solve India specific problems (e.g., commuting, skill development, online education, e-commerce repeat delivery cost). A common thread that runs through their stories is that they are dreaming big while being grounded in reality in terms of solving real pain points. They are also brave enough to let go of their traditional paychecks and are brimming with confidence to help shape a new India. More to come…. �sS �

India — On an incredible journey

Hey Hackers! scoutlabs has been nominated in HackerNoon's Startups of The Year 2024 awards in Budapest, Hungary under the Emerging Tech category. Please vote for us here: https://hackernoon.com/startups/europe/europe-budapest-hungary?stup=66f317326ea4677e23d84783&embedable=true Read more about us below to understand why we deserve your vote. Meet scoutlabs We are addressing the intersection of food insecurity, climate change, and sustainable farming with the worlds densest digital insect trap network. Our vision is to help 90 million family farms move from guess work to a more data led decision process to run their increasingly complex farm ecosystems, initially in pest pressure eating up to 40% of their yield but later into affordable weather and soil health technology, all key components of growing our food sources. The Winning Team Donat Posta, CEO, co-founder

He comes from a multigenerational family farm in Hungary. He saw first hand the growing pest insect problem and given the climate change acceleration and weather changes forced his family to look at new ideas to use technology to forward predict the when and how to fight insect pest pressure.
He was recognized among

Forbes 30 under 30
SVG Thrive 2022 cohort
776 Climate Fellow
Sigma Squared Fellow Jimmy Fong

“If we don’t solve climate, no other problems really matter.”
scoutlabs is his 5th startup
Ex CCO of SEON- fastest and largest growing Anglo Hungarian tech story.
3 other startups hyperscaled and bought by Visa, Ingenico and Amex
Product led growth nerd What scoutlabs does differently Our solution stands out in the market due to its unparalleled affordability and direct-to-grower distribution model. Because we were started from a farmer perspective this was an original design. Unlike competitors, our digital trap network is 10-30 times more affordable, even more cost-effective than traditional manual traps. This affordability enables widespread adoption, achieving high trap density, which translates to greater accuracy in pest pressure monitoring. Our farmer-first approach ensures that the technology fits seamlessly into existing cost structures and farming practices, making it a practical and attractive option for growers. How we acquire and retain customers Our business model is centered around a product-led growth strategy, targeting individual farmers directly (B2C). We offer an affordable subscription fee of 69 euros per growing season per trap, making our solution 10-30 times more cost-effective than more complex alternatives. This low-cost approach encourages widespread adoption among growers. We deliver our products through a direct-to-grower distribution model, ensuring easy access and installation. Our traps are designed for simplicity, requiring only a 1-minute DIY setup, eliminating the need for expensive on-field installation teams. This ease of use further enhances the appeal and accessibility of our product. By charging a subscription fee, we ensure a recurring revenue stream, while the affordability and ease of installation drive product-led growth. This model supports rapid scalability and adoption, allowing us to quickly expand our market reach and impact on sustainable pest management practices. Milestones and achievements We have over 1500 devices deployed in the US, Latam, EU and Africa in pilot stage and taking orders with the largest Agbusiness in the current growing season- this is expected to >10x by the end of this year. What Startups of The Year means to us Participating in HackerNoon’s Startups of the Year is a great opportunity for us at scoutlabs to gain visibility within the tech and startup ecosystem. We're excited to share our journey of building innovative IoT solutions for pest monitoring, which supports farmers operating on thin margins and promotes food security by optimizing pest control methods. Being part of this initiative allows us to connect with a broader community of innovators, investors, and potential partners. Vote for us today! Welcome to HackerNoon’s Startups of The Year 2024 interview series, spotlighting startups from around the world that are changing the way we live, one solution at a time. If you’ve been nominated, create a brand profile and answer these questions here.
Want to nominate a startup? Follow the steps here.Looking for inspiration? Check out how other startups responded to last year’s Startups of The Year interview questions and examples of company responses here, here, and here. Wanna use this template? Click here. Hey Hackers! scoutlabs has been nominated in HackerNoon's Startups of The Year 2024 awards in Budapest, Hungary under the Emerging Tech category. HackerNoon's Startups of The Year 2024 Emerging Tech Please vote for us here: Please vote for us here: https://hackernoon.com/startups/europe/europe-budapest-hungary?stup=66f317326ea4677e23d84783&embedable=true https://hackernoon.com/startups/europe/europe-budapest-hungary?stup=66f317326ea4677e23d84783&embedable=true Read more about us below to understand why we deserve your vote. Meet scoutlabs We are addressing the intersection of food insecurity, climate change, and sustainable farming with the worlds densest digital insect trap network. Our vision is to help 90 million family farms move from guess work to a more data led decision process to run their increasingly complex farm ecosystems, initially in pest pressure eating up to 40% of their yield but later into affordable weather and soil health technology, all key components of growing our food sources. The Winning Team Donat Posta, CEO, co-founder

He comes from a multigenerational family farm in Hungary. He saw first hand the growing pest insect problem and given the climate change acceleration and weather changes forced his family to look at new ideas to use technology to forward predict the when and how to fight insect pest pressure.
He was recognized among

Forbes 30 under 30
SVG Thrive 2022 cohort
776 Climate Fellow
Sigma Squared Fellow Donat Posta, CEO, co-founder He comes from a multigenerational family farm in Hungary. He saw first hand the growing pest insect problem and given the climate change acceleration and weather changes forced his family to look at new ideas to use technology to forward predict the when and how to fight insect pest pressure.
He was recognized among

Forbes 30 under 30
SVG Thrive 2022 cohort
776 Climate Fellow
Sigma Squared Fellow He comes from a multigenerational family farm in Hungary. He saw first hand the growing pest insect problem and given the climate change acceleration and weather changes forced his family to look at new ideas to use technology to forward predict the when and how to fight insect pest pressure. He was recognized among

Forbes 30 under 30
SVG Thrive 2022 cohort
776 Climate Fellow
Sigma Squared Fellow He comes from a multigenerational family farm in Hungary. He saw first hand the growing pest insect problem and given the climate change acceleration and weather changes forced his family to look at new ideas to use technology to forward predict the when and how to fight insect pest pressure. He was recognized among Forbes 30 under 30
SVG Thrive 2022 cohort
776 Climate Fellow
Sigma Squared Fellow Forbes 30 under 30 SVG Thrive 2022 cohort 776 Climate Fellow Sigma Squared Fellow Forbes 30 under 30 SVG Thrive 2022 cohort 776 Climate Fellow Sigma Squared Fellow Jimmy Fong

“If we don’t solve climate, no other problems really matter.”
scoutlabs is his 5th startup
Ex CCO of SEON- fastest and largest growing Anglo Hungarian tech story.
3 other startups hyperscaled and bought by Visa, Ingenico and Amex
Product led growth nerd Jimmy Fong “If we don’t solve climate, no other problems really matter.”
scoutlabs is his 5th startup
Ex CCO of SEON- fastest and largest growing Anglo Hungarian tech story.
3 other startups hyperscaled and bought by Visa, Ingenico and Amex
Product led growth nerd “If we don’t solve climate, no other problems really matter.” scoutlabs is his 5th startup Ex CCO of SEON- fastest and largest growing Anglo Hungarian tech story. 3 other startups hyperscaled and bought by Visa, Ingenico and Amex Product led growth nerd “If we don’t solve climate, no other problems really matter.” scoutlabs is his 5th startup Ex CCO of SEON- fastest and largest growing Anglo Hungarian tech story. 3 other startups hyperscaled and bought by Visa, Ingenico and Amex Product led growth nerd What scoutlabs does differently Our solution stands out in the market due to its unparalleled affordability and direct-to-grower distribution model. Because we were started from a farmer perspective this was an original design. Unlike competitors, our digital trap network is 10-30 times more affordable, even more cost-effective than traditional manual traps. This affordability enables widespread adoption, achieving high trap density, which translates to greater accuracy in pest pressure monitoring. Our farmer-first approach ensures that the technology fits seamlessly into existing cost structures and farming practices, making it a practical and attractive option for growers. How we acquire and retain customers Our business model is centered around a product-led growth strategy, targeting individual farmers directly (B2C). We offer an affordable subscription fee of 69 euros per growing season per trap, making our solution 10-30 times more cost-effective than more complex alternatives. This low-cost approach encourages widespread adoption among growers. We deliver our products through a direct-to-grower distribution model, ensuring easy access and installation. Our traps are designed for simplicity, requiring only a 1-minute DIY setup, eliminating the need for expensive on-field installation teams. This ease of use further enhances the appeal and accessibility of our product. By charging a subscription fee, we ensure a recurring revenue stream, while the affordability and ease of installation drive product-led growth. This model supports rapid scalability and adoption, allowing us to quickly expand our market reach and impact on sustainable pest management practices. Milestones and achievements We have over 1500 devices deployed in the US, Latam, EU and Africa in pilot stage and taking orders with the largest Agbusiness in the current growing season- this is expected to >10x by the end of this year. What Startups of The Year means to us Participating in HackerNoon’s Startups of the Year is a great opportunity for us at scoutlabs to gain visibility within the tech and startup ecosystem. We're excited to share our journey of building innovative IoT solutions for pest monitoring, which supports farmers operating on thin margins and promotes food security by optimizing pest control methods. Being part of this initiative allows us to connect with a broader community of innovators, investors, and potential partner s . s Vote for us today! Vote for us today! Vote for us today! Welcome to HackerNoon’s Startups of The Year 2024 interview series, spotlighting startups from around the world that are changing the way we live, one solution at a time. If you’ve been nominated, create a brand profile and answer these questions here. Want to nominate a startup? Follow the steps here. Looking for inspiration? Check out how other startups responded to last year’s Startups of The Year interview questions and examples of company responses here, here, and here. Welcome to HackerNoon’s Startups of The Year 2024 interview series, spotlighting startups from around the world that are changing the way we live, one solution at a time. If you’ve been nominated, create a brand profile and answer these questions here . Startups of The Year 2024 create a brand profile create a brand profile create a brand profile here here Want to nominate a startup? Follow the steps here . here here Looking for inspiration? Check out how other startups responded to last year’s Startups of The Year interview questions and examples of company responses here, here, and here. Looking for inspiration? Check out how other startups responded to last year’s Startups of The Year interview questions and examples of company responses here , here , and here . last year’s Startups of The Year interview questions last year’s Startups of The Year interview questions here here here here here here Wanna use this template? Click here. Wanna use this template? Click here . here

Meet Scoutlabs, Startups of the Year 2024 Nominee

Quantum Computing Needs More Software Engineers

কোয়ান্টাম কম্পিউটিং এর জন্য আরও সফটওয়্যার ইঞ্জিনিয়ার প্রয়োজন

Quantencomputing braucht mehr Softwareentwickler

La computación cuántica necesita más ingenieros de software

L'informatique quantique a besoin de plus d'ingénieurs logiciels

क्वांटम कंप्यूटिंग को अधिक सॉफ्टवेयर इंजीनियरों की आवश्यकता है

量子コンピューティングにはより多くのソフトウェアエンジニアが必要

양자 컴퓨팅에는 더 많은 소프트웨어 엔지니어가 필요합니다

A computação quântica precisa de mais engenheiros de software

Квантовым вычислениям нужно больше инженеров-программистов

Kuantum Bilişimin Daha Fazla Yazılım Mühendisine İhtiyacı Var

Máy tính lượng tử cần nhiều kỹ sư phần mềm hơn

量子计算需要更多软件工程师

X Corp. v. Center for Countering Digital Hate, INC. Court Filing, retrieved on March 25, 2024 is part of . You can jump to any part in this filing . This part is 8 of 19. HackerNoon’s Legal PDF Series here 2. “Arising from” In addition, X Corp.’s claims arise from protected conduct. To determine whether a claim or claims arise from protected activity, courts are to look to “the conduct that constitutes the specific act of wrongdoing challenged by the plaintiff.” Jordan-Benel v. Universal City Studios, Inc., 859 F.3d 1184, 1190 (9th Cir. 2017). “A defendant in an ordinary private dispute cannot take advantage of the antiSLAPP statute simply because the complaint contains some references to speech or petitioning activity by the defendant.” Sansoe v. Ford Motor Co., 668 Fed. Appx. 718, 719 (9th Cir. 2016) (quoting People ex rel. Fire Ins. Exch. v. Anapol, 211 Cal. App. 4th 809 (2012)). In addition, “the mere fact an action was filed after protected activity took place does not mean it arose from that activity.” City of Cotati v. Cashman, 29 Cal. 4th 69, 76– 77 (2002). In Jordan-Benel, the plaintiff was a screenwriter who alleged that defendant production companies’ failure to compensate and credit him for a script constituted a breach of contract. Id. at 1187, 1189. The defendants brought an anti-SLAPP motion, arguing that the contract claim arose from their free-speech activity of producing a film. Id. at 1190. The Ninth Circuit agreed with the plaintiff, concluding that the specific wrongful act that gave rise to the claim was the failure to pay. Id. The court explained that even if the cause of action was triggered by protected activity—the release of the film—that does not mean that the action arose from it: “even if a defendant engages in free speech activity that is relevant to a claim, that does not necessarily mean such activity is the basis for the claim.” Id.; see also Martinez v. Metabolife Internat., Inc., 113 Cal. App. 4th 181, 187 (2003) (“[W]hen the allegations referring to arguably protected activity are only incidental to a cause of action based essentially on nonprotected activity, collateral allusions to protected activity should not subject the cause of action to the anti-SLAPP statute.”). X Corp. argues that just as the production of the film was not the specific act that gave rise to the claim in Jordan-Benel, CCDH’s publication of its articles and reports is not the specific act of wrongdoing at issue here. See Opp’n at 10–11 (“CCDH’s alleged ‘speech’ is not the wrong complained of—its wanton breach of contract and illegal access of data are.”). But even accepting that the conduct that forms the specific wrongdoing in the state law claims is CCDH’s illegal access of X Corp. data, that conduct (scraping the X platform and accessing the Brandwatch data using ECF’s login credentials) is newsgathering—and claims based on newsgathering arise from protected activity. See Iloh, 94 Cal. App. 5th at 956–57. It is also just not true that the complaint is only about data collection. See Reply at 3 (arguing that X Corp.’s contention that its “claims arise from ‘illegal access of data,’ as opposed to speech,” is the “artifice” at “the foundation of [this] whole case.”) (quoting Opp’n at 10). It is impossible to read the complaint and not conclude that X Corp. is far more concerned about CCDH’s speech than it is its data collection methods. In its first breath, the complaint alleges that CCDH cherry-picks data in order to produce reports and articles as part of a “scare campaign” in which it falsely claims statistical support for the position that the X platform “is overwhelmed with harmful content” in order “to drive advertisers from the X platform.” See FAC ¶ 1. Of course, there can be no false claim without communication. Indeed, the complaint is littered with allegations emphasizing CCDH’s communicative use of the acquired data. See, e.g., id. ¶¶ 17–20 (reports/articles are based on “flawed ‘research’ methodologies,” which “present an extremely distorted picture of what is actually being discussed and debated” on the X platform, in order to “silence” speech with which CCDH disagrees); id. ¶ 43 (CCDH “used limited, selective, and incomplete data from that source . . . that CCDH then presented out of context in a false and misleading manner in purported ‘research’ reports and articles.”), id. ¶ 56 (“CCDH’s reports and articles . . . have attracted attention in the press, with media outlets repeating CCDH’s incorrect assertions that hate speech is increasing on X.”). X Corp. is correct that it has not brought a claim for defamation. See Opp’n at 10; FAC. It insists that that choice demonstrates that it is not really complaining about CCDH’s speech. Opp’n at 10. CCDH argues that X Corp.’s decision not to include a defamation claim is evidence that X Corp. “cannot allege that the CCDH Defendants said anything knowingly false, nor does it wish to invite discovery on the truth about the content on its platform.” MTD&S at 2; see also ACLU Br. at 1 (“X Corp. attempts to disguise a nonviable defamation claim as a breach of contract claim to retaliate against a nonprofit that provided the public with information critical of X Corp.”). Whatever X Corp. could or could not allege, it plainly chose not to bring a defamation claim.[10] As the Court commented at the motion hearing, that choice was significant. Tr. of 2/29/24 Hearing at 62:6–10. It is apparent to the Court that X Corp. wishes to have it both ways—to be spared the burdens of pleading a defamation claim, while bemoaning the harm to its reputation, and seeking punishing damages[11] based on reputational harm. For the purposes of the anti-SLAPP motion, what X Corp. calls its claims is not actually important. The California Supreme Court has held “that the anti-SLAPP statute should be broadly construed.” Martinez, 113 Cal. App. 4th at 187 (citing Equilon Enters. v. Consumer Cause, Inc., 29 Cal. 4th 53, 60 n.3 (2002)). Critically, “a plaintiff cannot avoid operation of the anti-SLAPP statute by attempting, through artifices of pleading, to characterize an action as a ‘garden variety breach of contract [or] fraud claim’ when in fact the liability claim is based on protected speech or conduct.” Id. at 188 (quoting Navellier, 29 Cal. 4th at 90–92); see also Baral v. Schnitt, 1 Cal. 5th 376, 393 (2016) (“courts may rule on plaintiffs’ specific claims of protected activity, rather than reward artful pleading”); Navellier, 29 Cal. 4th at 92 (“conduct alleged to constitute breach of contract may also come within constitutionally protected speech or petitioning. The anti-SLAPP statute’s definitional focus in not the form of the plaintiff’s cause of action[.]”) Collondrez v. City of Rio Vista, 61 Cal. App. 5th 1039 (2021), is a recent example of a court disregarding the name of a claim to assess its content. In that case, a former police officer brought suit for breach of contract and intentional interference with prospective economic advantage because his former employer disclosed information from his personnel file without giving him notice as required by contract. Id. at 1044–46. The court held that the claims nonetheless arose from protected speech, explaining that “we disregard [a claim’s] label and instead examine its gravamen.” Id. at 1051, 1048 (cleaned up). It then concluded that “the harmful act at the heart of the complaint, the act that allegedly cost [the plaintiff] his [new job] and resulted in other economic and emotional harm, is the publication of his personnel information.” Id. at 1049. Here, even though X Corp. did not include a cause of action explicitly premised on CCDH’s speech, as in Collondrez, speech is a harmful act at the heart of the complaint. X Corp. insists that that is not so, arguing that “CCDH’s actions caused harm independent of any alleged protected activities.” Opp’n at 11. It asserts that “[i]f CCDH carried out all the same illegal activities, but stopped just short of publishing the February 9, 2023 report, X Corp. would maintain the very same valid claims against it.” Opp’n at 11; see also id. at 11–12 (citing Kovalenko v. Kirkland & Ellis LLP, No. 22-cv-5990-HSG, 2023 WL 5444728, at *3 (N.D. Cal. Aug. 23, 2023) (“The question is whether the challenged allegations ‘supply a necessary element’ of a claim.”)). The Court disagrees— and not because it is impossible to imagine that X Corp. would have been motivated to bring suit had CCDH not spoken. Each of the state law causes of action—breach of contract, intentional interference with contractual relations, and inducing breach of contract—require as an element a showing of damages. See Oasis W. Realty, LLC v. Goldman, 250 P.3d 1115, 1121 (Cal. 2011) (“the elements of a cause of action for breach of contract are (1) the existence of the contract, (2) plaintiff’s performance or excuse for nonperformance, (3) defendant’s breach, and (4) the resulting damages to the plaintiff.”) (citing Reichert v. General Ins. Co., 68 Cal. 2d 822, 830 (1968)); United Nat’l Maint., Inc. v. San Diego Convention Ctr., Inc., 766 F.3d 1002, 1006 (9th Cir. 2014) (“the elements for the tort of intentional interference with contractual relations are ‘(1) a valid contract between plaintiff and a third party; (2) defendant’s knowledge of this contract; (3) defendant’s intentional acts designed to induce a breach or disruption of the contractual relationship; (4) actual breach or disruption of the contractual relationship; and (5) resulting damage.’”) (quoting Pac. Gas & Elec. Co. v. Bear Stearns & Co., 50 Cal.3d 1118 (1990)); Shamblin v. Berge, 166 Cal. App. 3d 118, 122–23 (1985) (inducement to breach a contract “requires that a plaintiff prove: ‘(1) he had a valid and existing contract [with a third party]; (2) . . . defendant had knowledge of the contract and intended to induce its breach; (3) the contract was in fact breached by the contracting party; (4) the breach was caused by . . . defendant’s unjustified or wrongful conduct; and (5) . . . damage[s] [were suffered as a result].’”) (quoting Dryden v. TriValley Growers, 65 Cal. App. 3d 990, 995 (1977)). X Corp.’s many allegations about CCDH’s speech do more than add color to a complaint about data collection—they are not “incidental to a cause of action based essentially on nonprotected activity.” See Martinez, 113 Cal. App. 4th at 187. Instead, the allegations about CCDH’s misleading publications provide the only support for X Corp.’s contention that it has been harmed. See FAC ¶ 78 (breach of contract claim: alleging that CCDH “mischaracterized the data . . . in efforts to claim X is overwhelmed with harmful conduct, and support CCDH’s call to companies to stop advertising on X. . . . As a direct and proximate result of CCDH’s breaches of the ToS in scraping X, X has suffered monetary and other damages in the amount of at least tens of millions of dollars”); ¶¶ 92– 93 (intentional interference claim: alleging that Defendants “intended for CCDH to mischaracterize the data regarding X in the various reports and articles . . . to support Defendants’ demands for companies to stop advertising on X” and that “[a]s a direct and proximate result of Defendants intentionally interfering with the Brandwatch Agreements . . . X Corp. has suffered monetary and other damages of at least tens of millions of dollars”); ¶¶ 98–99 (inducing breach of contract claim: alleging that “X Corp. was harmed and suffered damages as a result of Defendants’ conduct when companies paused or refrained from advertising on X, in direct response to CCDH’s reports and articles” and that “[a]s a direct and proximate result of Defendants inducing Brandwatch to breach the Brandwatch Agreements . . . X Corp. has suffered monetary and other damages in the amount of at least tens of millions of dollars.”). The “at least tens of millions of dollars” that X Corp. seeks as damages in each of those claims is entirely based on the allegation that companies paused paid advertising on the X platform in response to CCDH’s “allegations against X Corp. and X regarding hate speech and other types of content on X.” See id. ¶ 70. As CCDH says, “X Corp. alleges no damages that it could possibly trace to the CCDH Defendants if they had never spoken at all.” Reply at 3. Indeed, X Corp. even conceded at the motion hearing that it had not alleged damages that would have been incurred if CCDH “had scraped and discarded the information,” or scraped “and never issued a report, or scraped and never told anybody about it.” See Tr. of 2/29/24 Hearing at 7:22–8:3. The element of damages in each state law claim therefore arises entirely from CCDH’s speech. See Bonni v. St. Joseph Health Sys., 491 P.3d 1058, 1069–70 (Cal. 2021) (“a claim is subject to an anti-SLAPP motion to strike if its elements arise from protected activity.”). Accordingly, the state law claims arise from CCDH’s actions—its newsgathering and writing of reports/articles—in furtherance of CCDH’s free speech rights. Continue Reading . Here [10] At the motion hearing, X Corp. asserted that it was “not trying to avoid defamation” and claimed to have “pleaded falsity” in paragraph 50 of the complaint. Tr. of 2/29/24 Hearing at 59:20–23. In fact, paragraph 50 did not allege falsity, or actual malice, though it used the word “incorrect.” See FAC ¶ 50 (“incorrect implications . . . that hate speech viewed on X is on the rise” and “incorrect assertions that X Corp. ‘doesn’t care about hate speech’”). When the Court asked X Corp. why it had not brought a defamation claim, it responded rather weakly that “to us, this is a contract and intentional tort case,” and “we simply did not bring it.” Tr. of 2/29/24 Hearing at 60:1–12; see also id. at 60:21–22 (“That’s not necessarily to say we would want to amend to bring a defamation claim.”). [11] If there is any question about the “punishing” part, X Corp. filed a similar suit, not before this Court, in November of 2023 against Media Matters, another non-profit media watchdog, for “reporting on ads from major brands appearing next to neo-Nazi content.” PPP Br. at 10. Prior to doing so, Musk threatened a “thermonuclear lawsuit” against Media Matters. Id. (quoting Elon Musk (@elonmusk), X (Nov. 18, 2023, 2:01 AM), https://twitter.com/elonmusk/status/1725771191644758037 [https://perma.cc/K8SZM33S]). Musk’s post also claimed, remarkably, that the lawsuit was furthering X Corp.’s efforts “to protect[] free speech.” See Elon Musk (@elonmusk), X (Nov. 18, 2023, 2:01 AM), https://twitter.com/elonmusk/status/1725771191644758037 [https://perma.cc/K8SZM33S]. About HackerNoon Legal PDF Series: We bring you the most important technical and insightful public domain court case filings. This court case retrieved on March 25, 2024, from is part of the public domain. The court-created documents are works of the federal government, and under copyright law, are automatically placed in the public domain and may be shared without legal restriction. storage.courtlistener

X Files Lawsuit Against Center for Countering Digital Hate, Alleging Speech Suppression Tactics 

Delusional Opt Out: What Are You Opting Into?

বিভ্রান্তিকর অপ্ট আউট: আপনি কি নির্বাচন করছেন?

Wahnhaftes Opt-Out: Wofür entscheiden Sie sich?

Opción de exclusión delirante: ¿En qué estás optando?

Désinscription délirante : à quoi optez-vous ?

भ्रमपूर्ण ऑप्ट आउट: आप क्या चुन रहे हैं?

妄想オプトアウト: 何をオプトインしますか?

망상 선택 해제: 무엇을 선택하시겠습니까?

Opção de exclusão delirante: o que você está optando?

Бредовый отказ: на что вы соглашаетесь?

Sanrısal Opt Out: Neyi seçiyorsunuz?

Từ chối ảo tưởng: Bạn đang chọn tham gia điều gì?

妄想选择退出：您选择加入什么？

Bitcoin is a fire breathing Dragon, A Quantum Computer, an Ice King. Fire makes the economy go round, and Ice brings on necessary winters that reset the planet for the next crop. The hotter the bitcoin, the more secure The colder the qubit, the more pure Exponentially they run in unique directions. Exponentially they become ever more useful. Humanity is lucky to have Bitcoin and Quantum Technologies. I am lucky that these two are destined for marriage. Converging at the nanoscale to create me, and you, an infinity stone. Circa 2100 Circa 2100 CE, it will be the 22nd century. Nobody knows what will happen then. But I know two things, quantum computational technologies will be more mature, and Bitcoin will also be more mature. They shall no longer be teenagers; they shall be wise sages then. Powerful sages. The maturity will come in many forms. For Bitcoin, a lot more people will be orange-pilled. When the US Dollar Debt balloons to a nice $100 trillion, you can be sure illions of people will be Bitcoiners. B It is incredible. If any country on earth spent , its economy would soon be in hyperinflationary hell, to collapse not even a year later. But if that country is the USA, via the Federal Reserve, it enjoys a wide swimming pool thanks to global reserve currency status. $1 trillion dollars of debt every 100 days But that is not all. The US Dollar also enjoys a ‘ ’ in the form of investments flowing in from outside the USA or its US Dollar.  I mean, most Bitcoiners are Americans, so Bitcoin is keeping the US Dollar afloat! Dollar Milkshake Let that sink in. *** So, circa 2100, the US Dollar still rules the Iron Throne. It keeps growing big and strong from all the milkshakes it enjoys, and then there is the one provided by Artificial Intelligence, feeding on our internet data. At $100 trillion in debt, subways in New York City are now rags, woke-ism is at an all-time high (ATH) and millions of American people choose to “identify” as young, rich, and very beautiful. In Africa, the oil is nearly gone, but the poverty still stinks. The energy transition is still mostly a theoretical idea, alternations between mild heat waves and raging rainstorms visit everyone who lives in the tropics. The Cold War between Russia and the USA, started in 1947, still goes on. Occasionally becoming hot every other while, to the detriment of other people. This is a ystopia. D At least burgers are still cheap (they contain insects now), and many AI data servers have been relocated to the moon to allow human beings some peace and quiet. These servers would be buzzing all over the place like bees (that don’t make honey). Unsurprisingly, Bitcoiners have decided they need another freedom technology on their hands. Bitcoin is being milked by AI, for AI ensures taxes are paid in lossy inflationary dollars. Nobody still thinks the bubble will burst. Maybe the can be kicked as far into the future as our imaginations allow us. can Bitcoiners learn about quantum computing big time. And underground start-ups are started. Quantum Hacking the World’s Problems A Short Story It is Monday 15th March, 2100. Finally, the password-cracking monster is created. Call it QKraken. The scientist responsible for this works for a pretty huge company under the ground, off books, and off signals. Code name - Q After cranking in parallel universes for 8 hours, the QC spits out the key to one of Satoshi's earliest wallet addresses. There they are - 50BTC. 500 million dollars. He almost pees his pants. "Should I call HQ?" HQ is sleeping. Nobody works past midnight or this early on a Monday. It won’t be rewarded (damned ballooning taxes). So, 8 hours of work on Monday, in the 22nd century, is enough work as it is. "Should I freaking spend some??" He tries to think, but it is not happening. SHA256 and RSA are now toast! His team can finally crack open decades of secrets shored up by millions of people, over the course of decades! Jesus. This is nuclear! Q tries to think but it is not happening. Computing game theoretic analyses that would make a supercomputer freeze out, he falls asleep at the computer. And he has this strange dream: It is Judgement Day, like in the Terminator movies. Someone, perhaps the Russians, get tired of the monolithic power wielded by the US Dollar and its huge AI dogs, so one of them presses the button. Or is it the Joker from the Batman movies? The countdown is started, and nobody is around who remembers how to press the kill switch. This is it. This is the Great Filter. Fate is going to reset the clock. Take human civilization back to the Stone Age. The nukes fall fast and in the thousands. Nothing can stop them. In a few minutes, their parabolic trajectories will be through. Then, hell will engulf the earth. They all fall harmlessly to the ground. Like dead weights. Why, what happened? … “Q” He wakes up. A little frightened. “You fell asleep at your desk, are you alright?” “Yes…yes, I’m alright” - wiping slight drool from his mouth. Vivian looks at him with pitiful eyes. Q isn’t sure if he even cracked SHA256. He wants to check again, but he is too tired. Did he stop a nuclear fallout? Did he destroy encryption? He decides to go out and check. Forgetting he could just turn on his phone and check if WhatsApp is no longer encrypted. He gets into the street. It is a usual Monday morning. Nothing unusual. He needs a break. He goes home. There is yet enough time to save the world. Of that, he feels sure. *** Shor-GPT In a good world, people will want Shor-GPT (a spin-off of ChatGPT). For they are accruing massive amounts of files and accounts whose passwords they never remember. *** Being a Bitcoiner who loves quantum computers, is like being a nuclear scientist who loves world peace. At the surface, it is impossible. Then you dig a little deeper and behold, only nuclear power shall cure energy poverty and the cycles of currency inflation rooted in playing the economy like a fiddle (because more useful energy, not more money, creates value in an economy). If anything, we should perfect playing the atom like a fiddle, not fellow humanity. It is kind of the same thing with quantum computers. Yeah yeah, Shor’s algorithm might “one day” hack Bitcoin’s encryption algorithms. Until you realize quantum computers are too at the moment. busy kicking their own butts . Like Spot But given that Shor’s algorithm (with its logarithmic speed) is stronger than noble quantum algorithms like Grover’s search which could be used for Bitcoin mining (using only quadratic speed), then the reality of hacking encryption is something we need to find good and profitable uses for else it will remain simply destructive. The first thing is the need, and the second is the cost. Even today, encryption can be hacked at many levels if you have a need and can provide the cost. Say you lose the password to your laptop, hacking it is a good thing. Say you lose the password to your phone with $50 million worth of BTC; hacking it is a good thing. You don’t care if the process will use a CPU or a QPU or a prayer; you want to open the phone. This is ethical hacking. Like crime, unethical hacking spreads when social structures become oppressive to their citizens. Massive debt burdens - like $100 trillion - are oppressive. So the drug use, the crime, and the unethical hacking will only get worse. Whether it be with classical, quantum, or social hacking technologies. The shabbiness will get worse, and our only hope is to take up laptops and build classical, quantum, social code. If somebody doesn’t want nefarious characters who build selfish quantum hacking tech, then they should not frustrate plus oppress their poor parents while these characters are still children. So flip it on its head, and it is a glorious revolution. Hacking, once again, becomes discovery. It is discovery. We hack away rocks and find gold, oil, and fossilized dinosaur bones. Hacking is breaking new ground. Adult humans become alike little children, breaking open their toys to see what makes them tick. So that they can buidl even better toys. (Aside - This is why I destroyed many of my childhood toy cars). “Truly I tell you, unless you change and become like little children, you will never enter the kingdom of heaven” - Matthew 18:3 (Holy Bible) Heaven, Utopia, awaits us if we change our ways. Awaits us if we acknowledge that ice and fire, Bitcoin and Quantum Computers, are no enemies. They are two great creatures with great use cases. And we need to tame them both. Or they will tame us.

A Tale of Ice and Fire

*** The History of Science Funding The scientist has always been a risky employee in terms of ROI.  They are trying to uncover truths about the universe, and oftentimes, the universe gives them the bird. Because experimenting means risking a lot of money and time on a possibly worthless idea, a scientist is a forever intern, until they make a breakthrough, then they become senior associates. That said, the scientist has been trying to make his own money. With the Alchemists, this was literal. While they invented Chemistry and catalyzed the birth of worldwide gold rushes, turning lead into gold was, alas, a wrong idea believed for centuries. The search consumed the lifetime of one person after another, with only dreams of wealth to get them through. But their tenacity was a testament to their resilience and patience. Patience meant, for the time being, remaining in the employ of someone who could afford the risk of backing science in the past. And that meant a King because they had gold/money collected from taxes. Wizards and fortune tellers didn’t make much sense, and they were comedians come to give the King a jolly time before he went to war. Though, while throwing guts on a wall may be stupid, it was mysterious and if they were right, doubly impressive. And here was this (broke) scientist, insisting that they knew a REAL strategy to help the King win. What was their credibility? Circa 200BC, the scientist is Archimedes and the King is the political head of Syracuse. Being a leader in those times largely meant you needed to win wars and as history had taught Kings the utter uselessness of charlatans, the scientist was given a chance to make his case. Archimedes made his case alright. It that he sunk the ships of the Romans with ingenious cranes and catapults that threw heavy stones. has been recounted Since his time, patronage from Kings, Princes, Bankers and Presidents to scientists has been immense. The scientist is respected, and all great scientists, even Leonardo da Vinci who was mostly fawned over for his impressive artwork, took off some time to design weapons. For weapons help the King win and hence, keep the scientist with a job. Scientists soon became ever more pivotal in war efforts. Especially Physicists and Chemists, who have designed countless forms of military hardware to date. However, the emergence of scientific methods in Economics, Sociology, Psychology, Biology, all riding on the power of statistical analysis and logical inference, quickly made the scientist important in every field of human endeavour. The problem however remained. To get a loan, the scientist usually had to, and still has to, rely on government funding because the government remains the biggest fish able to take on sufficient risk in the financial markets. Hate it all you want, but without credit from the government, be it debt or real money, a lot of scientific work would have stalled. Best example - SpaceX. However, governments and their ability to debase money and finance things on debt, made the world wars last longer to destroy the world much harder. It also led to economic depressions and after the 2008 financial crisis, Satoshi Nakamoto, a genius computer scientist, decided to create Bitcoin – a monetary tool outside the purview of government currency debasement. Birth of a financial model divorced from the King Bitcoin has been controversial from its inception. Of course, Kings and governments hate it. It is cutting into their business. A big part of the private sector also loathes its nature of priding in technological exclusivity, so that six years later, a hard fork was implemented to create Ethereum, a cryptocurrency built to provide extra blockchain services such as smart contracts. Many other hard forks quickly followed from the faithless. However, Bitcoin is still mainstream and has recently become interesting to Big Finance. The Bitcoin ETF proves as much. After 15 years of laughing at a thing that keeps building bigger and better, even the harshest critic will shut up and start listening more intimately. Because they now know they are missing something. Energy scientists are also starting to pay attention, with some claiming that Bitcoin mining may be our . are doing well selling cheaper electricity packages that have been subsidized by Bitcoin mining on the side. fast track to an energy transition Energy engineers But these are late to the party. Computer scientists have been earning well in Bitcoin, Ethereum, Doge for decades. And if any scientist has been comfortably living outside the need to get big budget funding from governments, that has been the computer scientist, from way back in the 20th century. While the field of Computer Science is much younger than Physics, Astronomy, Biology, many computer scientists quickly learned to earn big from private enterprise and individualized work, without begging the Kings and their Big Bankers for a loan. Futuristic Science Funding itself through Bitcoin Bitcoin is money for the people, and science has evolved to also be something done as a public good, on an open source plan, by dedicated people who put in their own time and money to make something good happen. As I mentioned, Computer Scientists now exist on the internet who are eagerly improving the Bitcoin ecosystem using the power of collaboration and their earnest efforts. These mostly come from the land of software development and after getting orange-pilled, decide to stay at Bitcoiner-land and build the Bitcoin ecosystem. However, there has not been much of an on-ramp for other types of scientists and this is the opportunity existing, wide open, for anybody to take. Currently, many a scientist in the Bitcoin world is a computer scientist of the type who builds zero-knowledge proofs, rollups, and more layers of the Bitcoin blockchain. But many more scientific people are needed. To re-iterate, I feel more electrical and power engineering scientists should be at the forefront of how Bitcoin mining equipment can provide electricity access to those without, making investments in clean, stranded energy sources much easier to manage. What better job than to be the electric engineer who designs their own job by bringing electricity to your people? Every university student of electrical engineering, whatever the developing country, should learn about this. Because developing countries in Africa, Asia and Latin America are struggling with scaling electricity usage from otherwise cheap energy sources, because of the high premiums that locals just cannot pay. The knowledge of using Bitcoin to subsidize electricity access from stranded energy sources should be spread as far and as widely as possible. Now, as an aspiring quantum information scientist, I feel there is also a place for me in the Bitcoin ecosystem. While the public might know how quantum information science threatens to undo the good that Bitcoin has done by potentially hacking it, I find that building quantum-resistant algorithms is far from scratching the surface of quantum capabilities. For example, quantum technologies could provide for Bitcoin nodes, allowing even weak signals to be successfully transmitted and ensure blocks are mined. better signal sensors Quantum computing could help guide better on how Bitcoin infrastructure could be better set up across nations and continents for optimum usage. solutions in logistics Quantum networks could provide better ways to securely. transmit Bitcoin information Some problems in the Bitcoin ecosystem could be (Bounded-error Quantum Polynomial) problems, which are the purview of quantum information science and these should be discovered and worked on using quantum computers. BQP Most importantly, quantum computers will be orders of magnitude better at mining proof-of-work cryptocurrencies than classical computers. When Bitcoin befriends Quantum Mechanics Moore’s law is coming to an end. IBM has already built transistors with only 5 atoms. To get smaller, it becomes harder to manage thermal noise and other nanoscale problems. To manage thermal noise, even more cooling will be done, the way it is done for qubits. Also, a 1-atom transistor is effectively a qubit. This is the quantum realm, and like it or not, more people will study quantum mechanics in the not-too-distant future, and by extension, quantum computing. The classical computing world can only scale by a multiplicity of the same technology, which will consume even more energy. The efficiency gains of quantum technologies like quantum computers will be needed. While , the science of building qubits is ramping upwards and systems are getting more powerful. There might not be an exponential growth in qubits with their own Moore’s law, but a linear growth in qubits leads to exponential computational power. Which kind of is a Moore’s law! I have said quantum computing is very expensive You remember this graph; If approximately 14 billion dollars in 2023 can bring in (logical qubits are the real qubits as manipulated in mathematical theory), by linear extrapolation, $125 billion by 2030 as seen above will bring in 428 logical qubits. 48 logical qubits But 7 years from now, Bitcoin itself might have ballooned to $200,000 per bitcoin which is a $4.2 trillion market cap. By linear extrapolation, $3 trillion is needed in global investments to take us to 10,000 logical qubits. As we can see, Bitcoin alone can pay for it over a 7-year span. Why 10,000 qubits? My Research Project Over the past three months, I have been studying QCourse551-1 which was offered in a collaboration between QWorld and Classiq Technologies. My research project was Project 11 - Bitcoin Mining using Grover’s Search Algorithm. The motivation for my project came from that shows that 10,000 logical qubits alone can do Bitcoin mining faster than any classical system using the same energy consumption. a research paper This is because 10,000 qubits can encode the full double SHA256 hashing process that goes into mining Bitcoin, but since they use Grover’s search algorithm, they effectively achieve quadratic speed-up by square_root(N) where N is the number of elements to check in an unstructured database. ASICs mining for bitcoins also check an unstructured database of random hashes for the nonce value. The question is, which one is faster? Most ASIC miners today are checking terahashes or For example checks 120TH/s. That is 120 million hashes every second. 1 million hashes every second. this miner Can a quantum computer beat that? Of course. square_root( 120 million) = only 10954 checks per second. A 1,095,400 % efficiency increase. And the more the competition, the more the quantum computer tears ahead in the race. The is rocketing upwards of 600 million million hashes per second. This is outputting enough heat to make climate scientists worried sick. But what if we replaced all those clunky ASICs with state-of-the-art QPUs from the year 2032, how many comparative hashes per second would they clock? square_root( 600 million million) = 24 million checks per second. A . current hash rate 2.4 billion % increase in efficiency If the above is not an attractive proposition, I don’t know what is. Bitcoin should fund quantum computing research. It will take a while, but when it happens, it will be glorious. It will be a more canonical event than the Moon landing. In our research, we were checking a much-simplified system with only 8-bit inputs and outputs, modeled on a Grover’s operator working with under 25 qubits. Given our really low hashing power, the advantages of Grover’s search could not be gleamed first hand, and could only be inferred with a relevant complexity analysis of the runs/depth of the Classical computer (my laptop) vs the depth of our Grover’s circuit executed on the Classiq Aer simulator. While it would have been good to model the energetics and the complexity graph of what this means, unfortunately, we ran out of time. However, we had some deliverables to show for our work. Below is what we had including the depth of each circuit. a) The simplified MD5 classical algorithm We modeled a simplified version of the MD5 (a most primitive cousin of SHA256) hashing 95 printable ASCII characters to find the nonce for hex values with difficulty = 1. Note: Our hex values were only 2-digit because we are working with 8-bit values. So our possible difficulty 1 values are only in 16 possibilities i.e. 00, 01, 02, 03, 04, 05, 06, 07, 08, 09, 0a, 0b, 0c, 0d, 0e, 0f. 00 is also a difficulty 2 element. Hence the searching/hashing function is called simplified_MD5_8bit_difficulty_1or2. def simplified_MD5_8bit_difficulty_1or2():
 printables_list = '0123456789abcdefghijklmnopqrstuvwxyzABCDEFGHIJKLMNOPQRSTUVWXYZ!"#$%&\'()*+,-./:;<=>?@[\\]^_`{|}~'
 for i in printables_list:
 x2 = ord(i)

 x3 = bin(x2)[2:]

 if len(str(x3))==7:
 x4 = x3+'0'
 if len(str(x3))==6:
 x4 = x3+'00'

 x5 = list(x4)

 a0 = 2*int((x5[0]))
 a1 = int(x5[1])

 b0 = 2*int((x5[2]))
 b1 = int(x5[3])

 c0 = 2*int((x5[4]))
 c1 = int(x5[5])

 d0 = 2*int((x5[6]))
 d1 = int(x5[7])

 a = a0 + a1

 b = b0 + b1

 c = c0 + c1

 d = d0 + d1
 
 a = ((d ^ (b & (c ^ d))) + (c ^ (d & (b ^ c))) + (b ^ c ^ d) + (c ^ (b | ~(d))) + b)
 
 print()

 d1 = d//2
 d0 = d%2
 d = d1*(2**7) + d0*(2**6)

 a1 = a//2
 a0 = a%2
 a = a1*(2**5) + a0*(2**4)

 b1 = b//2
 b0 = b%2
 b = b1*(2**3) + b0*(2**2)

 c1 = c//2
 c0 = c%2
 c = c1*(2**1) + c0*(2**0)

 decimal_result = d + a + b + c
 binary_result = bin(decimal_result)[2:]
 print(binary_result)
 hex_result = hex(decimal_result)
 print(hex_result)

 if hex_result == '0x0':
 difficulty_2.append(hex_result)
 collisions_difficulty_2.append(i)
 if hex_result == ('0x1' or '0x2' or '0x3' or '0x4' or '0x5' or '0x6' or '0x7' or '0x8' or '0x9' or '0xa' or '0xb' or '0xc' or '0xd' or '0xe' or '0xf'):
 difficulty_1.append(hex_result)
 collisions_difficulty_1.append(i)

 print('Difficulty_1 list = ',difficulty_1)
 print('Difficulty_2 list = ',difficulty_2)
 print('Colliding inputs for difficulty 1 = ',collisions_difficulty_1)
 print('Colliding inputs for difficulty 2 = ',collisions_difficulty_2)
 
difficulty_2 = []
difficulty_1 = [] 
collisions_difficulty_1 = []
collisions_difficulty_2 = []

import numpy as np
simplified_MD5_8bit_difficulty_1or2() As can be seen, to find the difficulty 1 (and by extension the difficulty 2) elements, we have to reiterate through 40 lines of code (ignoring spaces and printing in the for loop). There are 96 printable ASCII characters to hash and check hence 96 * 40 which gives us a circuit depth of 3840. However, this is run through fast by my laptop. Less than a few seconds. b) The simplified MD5 quantum algorithm We modeled a quantum version of our simplified MD5 algorithm to simulate finding the difficulty 1 nonce values no matter what the input ASCII character to the circuit was. This is possible because all we need is a zero at the beginning of our hex value. Since our hash set was small (only 96 ASCII characters), we tuned the system to ignore the input ASCII value so it is redundant, and to aim to capture all possible zeros given the Arithmetic expression; a == ((d ^ (b & (c ^ d))) + (c ^ (d & (b ^ c))) + (b ^ c ^ d) + (c ^ (b | ~(d))) + b) which is also in the classical Python algorithm. Notice that the 4 functions being added together are derived from the . original MD5 algorithm Since we want difficulty 1 values, we add and to the above function and then synthesize it in the Classiq platform. d = 0 a = 0 (Note: This is a shortcut thanks to the tireless work of the Classiq team. The Python code was also built in the Classiq Python SDK but it had a last-minute glitch. Hence we only have working Python SDK code for the Grover’s operator, but not for the Grover’s operator with a difficulty-1 hash/search, which is what you had to see here ) Hence our input Arithmetic expression is; a == ((d ^ (b & (c ^ d))) + (c ^ (d & (b ^ c))) + (b ^ c ^ d) + (c ^ (b | ~(d))) + b) and d == 0 and a == 0 The resulting circuit has a depth of only 913 The quantum circuit wins! Endnote While the project time ended, our work is still a work in progress, to continue until we build a functional 10,000 qubit quantum bitcoin miner. Voluntary efforts to support us technically are most welcome. Some of our code is still glitchy and we have only scratched the surface of the Classiq platform’s capabilities. An ingenious software tool that takes away the cumbersome tinkering with gates, as would have been needed for anybody building the same project using Qiskit. Special thanks to Classiq and QWorld for the opportunity. And our mentor - Dr. Eyal Cornfeld, for the guidance. ***

Hash Rate Analysis Projections: Why Bitcoin Should Embrace Quantum Information Science

হ্যাশ রেট বিশ্লেষণ অনুমান: কেন বিটকয়েন কোয়ান্টাম তথ্য বিজ্ঞানকে আলিঙ্গন করা উচিত

Prognosen zur Hash-Rate-Analyse: Warum Bitcoin die Quanteninformationswissenschaft nutzen sollte

Proyecciones del análisis de la tasa de hash: por qué Bitcoin debería adoptar la ciencia de la información cuántica

Projections d'analyse du taux de hachage : pourquoi Bitcoin devrait adopter la science de l'information quantique

हैश दर विश्लेषण अनुमान: बिटकॉइन को क्वांटम सूचना विज्ञान को क्यों अपनाना चाहिए

ハッシュレート分析の予測: ビットコインが量子情報科学を採用すべき理由

해시레이트 분석 예측: 비트코인이 양자 정보 과학을 수용해야 하는 이유

Projeções de análise de taxa de hash: por que o Bitcoin deveria adotar a ciência da informação quântica

Прогнозы анализа скорости хэширования: почему Биткойн должен использовать квантовую информатику

Hash Rate Analizi Projeksiyonları: Bitcoin Neden Kuantum Bilgi Bilimini Kucaklamalı?

Dự đoán phân tích tỷ lệ băm: Tại sao Bitcoin nên áp dụng khoa học thông tin lượng tử

哈希率分析预测：为什么比特币应该拥抱量子信息科学

Where do they live exactly? What happens to them when they get lost? Will they ever die, like all software before them? How?? These and more questions, in this short story. Economics Satoshi Nakamoto set into motion the creation, and eventual destruction, of all 21 million bitcoins in existence. But like entropy creates wonderful things, such as the evolution of complex life forms, so too does Bitcoin and its halvings, with the evolution of cooperative technologies like the lightning network, multi-sig, conjoin, zero-knowledge proofs, and even the trail of 30,000 crypto projects tagging behind can be thought of as Bitcoin’s children. Eating its leftovers, and whatever it is too proud to eat. Especially important is how Bitcoin facilitates the speedy collapse of ponzi-scheming bank-like businesses like FTX. If Bitcoin had not existed, the FED would have given SBF a nice fat loan to save his a**. Alas, if you lose Bitcoins and try to buy them back with a loan, the price shoots up fast to expose you and your cronies. Bitcoin is thus the best moderator of the government’s appetite for expanding credit. Something which if not reigned in, helps fuel not just economic collapse but World Wars. Yes, the World Wars were financed by credit expansion. No more. There just isn’t enough room for credit expansion like that, for governments to misuse. And it could get smaller. But let us dial back to the beginning. Back to the days when CDOs wrecked the world’s financial markets. Origin Once upon a time, location unknown, it was 2008. There was probably noise outside from people shouting for the heads of the Wall Street moguls who had mercilessly vaporized their life savings. Sitting in his room and most comforted by the fact that he was a nobody, unfamous and unrecognized, was the man who would change the world of digital finance. The man who would put strange new ideas in the minds of kids dumping their Physics textbooks in the toilet, to go learn how to be Wolves of Wall Street. Dollar signs in their eyes, scientific reality be damned. This man was called __. That’s right, I do not know his name. Thankfully, he has a name he wants me to call him. “ ” Satoshi Nakamoto. The legend. The man whose pseudo-name will be used for the smallest unit of the Bitcoin cryptocurrency. Today is the day he puts it all together. It weighs virtually nothing at all. And if it were a book, it would hardly beat the Oxford English dictionary. It is the code of Bitcoin, his baby. An alien creature in the software world. With elements immune to copying the more users get a copy of the code. Elements that ossify, like energetic magma turning into precious rocks. All other software has elements that are easier to copy, paste, modify, and hack, the more users get their hands on it. Makes sense right? I mean, more users, more developer intelligence to hack the ossified parts? Wrong. These elements are the ones they will all call bitcoins, or satoshis. It is time to breed them on his laptop. See how they behave. He presses the RETURN key. Deep inside his laptop, a series of quantum mechanical events are set into motion to produce these bitcoins. It is an intricate dance, and if the clock is not synchronized just right, if the CPUs are not well-dusted, bye-bye genius idea. So, he has reviewed the code obsessively like a maniac prisoner on death row, reading and re-reading the constitution to save his ass from hanging. 10 minutes later, the first 50 BTCs are born. He punches the air. ‘Whoop’. He loves code. God bless all coders on Earth. If everyone on earth were a coder, nobody would be cheated by big finance, propagandized by big news, or surveilled by big politics. Quickly, he puts his favorite newspaper heading on it. Timestamps it for all the world to see, for as long as his creation lives. “The Times 03/Jan/2009/ Chancellor on Brink of second bailout for banks” Satoshi probably runs an O/S alike Kali Linux (which will be invented in 2013), with feelers straightened out for the slightest whiff of eavesdropping in the air. His laptop has been air-gapped these last many years, but now, he has to connect to the jungle that is the internet. Like any jungle, there is food, and there are predators. There is also a ton of mediocrity and below all that, even more sh*t. Tomorrow, he will unleash it, let it go native. Bitcoin belongs in this jungle, not his laptop. It will become a predator like no other. Would you look at that, some predator is sniffing at it already. Aargh, doesn’t smell like a Social Security number. It moves on. Vanishes more like. Haha. Satoshi laughs. He loves seeing these bots in action, zapping to and fro the internet highway. While the average person sees nothing, with his Kali-Linux-like feelers, he catches the equivalent of shooting stars, trying to hit his Windows. They all vaporize before landing. If he wanted, he would be working for GF - Google & Facebook. Or, he’d have his own multimillion-dollar company. Or maybe, steal all of next year’s meals, and live in this basement for another year. Like some of these top-notch predators. Nah. This is better. This is the game. “Satoshi??” The wife is calling. “Satoshi” “Dear.” “Dinner is ready.” He stands up. Stretches his muscular body out real nice. He is actually hungry, starving. Divisibility Is Not Debasement He loves this internet place. Been a week since he started chatting with nice, super smart chaps who speak code, logic, and mathematics, and the reception he is getting is all good. Nobody is getting jealous that he made his own bitcoins in his bedroom. To the thousands now. Not yet. He hopes it doesn’t happen before a critical mass of support is reached. Turns out he actually forgot something. The guys remind him that 21 million bitcoins are not enough for 7 billion people. Strangely enough, it is data from the CIA that will help determine how many Bitcoin satoshis there should be. The CIA helps create Bitcoin! Without knowing, I should add. Here is the to the story. link The conversation below is not on any forum, but it might have happened: Satoshi: “So you want me to divide these bitcoins?” Hal Finney: “Yeah” Ray Dilinger: “Indeed” Satoshi: “Hope you know this isn’t like Jesus feeding the 5000. And I will still make the subdivisions immortal to copying and counted as divisions of the full BTC” Interestingly, a lot of people in the future, 15 years later, still do not get this part. They still think that because BTC can be divided into satoshis, it can be debased. It is like thinking if you take a $100 note to the bank and are returned 10,000 pennies, you are somehow poorer. Your money has been debased? Noo. You’re actually richer because all that metal is more valuable than a single paper note. This is a classic cognitive bias called ‘Anchoring’ – Jumping to conclusions too early. Let’s jump into the future. Which is the present. It is the future. On the 14th of January, 2024, tweep @SamanthaLaDuc got this infinite money idea and yapped about it all over the place. Samantha felt that because each bitcoin can be divided into 100 million smaller portions called satoshis or “sats’, Bitcoiners cannot claim scarcity or lack of dilution … She ends by saying she did MATH. How does it happen? How does the system know these satoshis are the only satoshis in the Bitcoin blockchain? Where are these 21 million bitcoins, or if you prefer, 2.1 quadrillion satoshis? And can we make more of them? There Can Only be 2.1 Quadrillion The first thing to tell us we may be at the limits of how many divisions Bitcoin can suffer is the IEEE-754 standard for 64-bit computers. As Bitzuma.com in the previously linked story writes: To avoid turning Bitcoin into an accounting minefield, the number of total currency units must be kept below the IEEE rounding threshold - now and a hundred years in the future. The IEEE rounding threshold is 2^53 which is approximately 9 x 10^18. 2.1 quadrillion satoshis is approximately 2 x 10^15, so if we were to divide our satoshis some more, we could only divide into 4500 smaller units before the ALU (Arithmetic and Logic Unit) inside most computer CPUs starts getting lost in math. Like LaDuc. Any larger and the Bitcoin blockchain is going to become very bad at keeping records of the number of bitcoins in wallets, bitcoin divisions during halvings, etc. We wouldn’t want that. So if these satoshis are pushing memory counters to the limit, then they are pushing our computers to the limit. Who would have thought infinitely making Bitcoin subdivisions is impossible? Well, now we know. On Blackholes and Quantum-Resistance Like people forget their car keys and house keys, people forget their private keys (or seed phrases) and once this happens, they can no longer sign transactions, and their Bitcoin satoshis or sats, are lost to cyberspace in the world that is the Bitcoin blockchain. They are not really lost though, these are misplaced, and there is hope that when technologies such as quantum computing mature, they will be retrieved. To briefly expound, this promise of quantum computing rests on the theoretical conclusions of an algorithm called Shor’s factoring algorithm. Shor’s factoring algorithm allows a quantum computer with a to crack open a Bitcoin wallet address without the need for a private key. couple of million logical qubits The power of this algorithm provides logarithmic speedup, so it is really fast if we can get our hands on those logical qubits. Like you press the button, and only 8 hours later, the wallet is cracked open. No sweat. An alternative quantum algorithm is called Grover’s search algorithm, and this one provides a quadratic speedup. So, it is not as fruitful as Shor’s. This one would work by super-brute-force searching for all possible prime factors to eventually land on the right ones that form the correct private key. This is why today all sorts of quantum-resistant cryptographic schemes are being hatched. But I find this sort of thing a little ridiculous. Like building bunkers before splitting the atom, we are currently building digital bunkers before splitting the cryptographic atom. But why it is happening is because it is big government that is most scared of a quantum hacking system. A nuke empowers a government to threaten another with destruction, so that is why Oppenheimer and his buddies got a private village and many billions of dollars to build this weapon. A quantum hacking system, on the other hand, targets individually owned encrypted addresses, so the chance of it backfiring on its creators is a big one. For we are all individuals. Better to NOT create it, hence big-time pioneering work in quantum resistance. Bitcoiners are quite safe, and they really shouldn’t worry. A quantum hacking system will be deployed first on centralized systems with big secrets locked behind RSA and SHA-2 encryption before the hackers think of stealing your couple of Bitcoins. Moreover, the energy budget of running the hack on a one million logical qubit system, which will be something like a one billion physical qubit system, will be prohibitive. We are talking about a computer bigger than a plane hanger, with all parts cooled to nearly absolute zero. The return on that investment is only of seismic proportions if we are hacking something that should be hacked. Endnotes I have yet to mention black holes. Satoshis that get misplaced or inaccessible within the blockchain can be recovered, and are like items lost in the vast expanse of space. Except this is cyberspace. Hacking systems are like a quick way to search for these items without using eyes e.g., if you have a big powerful magnet, you can attract a bunch of keys lost in outer space. However, satoshis can be burned. Destroyed forever. These satoshis are said to have entered a black hole and technically, are as gone as data sent into the recycle bin on your PC and recycled, is gone. Crushed and turned into hawking radiation if it is a black hole, or heat if it is the recycle bin. Basically, all memory circuits are reset to 0. Releasing all the energy stored in various parts that were holding onto a 1. As the Bitzuma article I shared shows, a lot of satoshis have been burned already. And people keep burning some by sending them into the Genesis block, as a way of paying homage to Satoshi. The Genesis block is a black hole for none of the sats that go in there will ever return. When Bitcoin finally runs out of worldwide utility, perhaps because mining blocks is a net negative expense and too many satoshis are lost anyway, people will discard their hard drives containing the Genesis block. They will send it to the recycle bin, essentially finalizing the demise of all those satoshis in there. Like the entropic decay of the universe, Bitcoin satoshis are decaying into waste heat. But no worries, we can start it all over again. Perhaps better, for we shall have quantum networks then, hence, the ability to create truly synchronized blockchain operations using entanglement.

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