'Hourglass' Explained: The Quantum Soft Fork to Save Satoshi's Bitcoins
In this deep dive interview from the Presidio Quantum Bitcoin Summit, Mike Casey, Director of Engineering at MARA, joins Bitcoin Magazine Technical Editor Shinobi to explore Bitcoin’s one of Bitcoin's most existential -- and hardest to monitor -- threats.They break down how early Bitcoin addresses (like Satoshi’s) could be exploited, what a “Q-Day” event might look like, and why a proposed soft fork—Hourglass—might be the key to defending Bitcoin without violating its core ethos.
Discover how Hourglass creates a permissionless, non-confiscatory slowdown mechanism for quantum attackers and how it could buy Bitcoin enough time to survive the next technological paradigm shift.
🔶 Connect with Shinobi on X: https://x.com/brian_trollz
🔶 Connect with Mike Casey on X: https://x.com/theblackmarble
🔶 Learn more about the Presidio Quantum Bitcoin Summit: https://www.presidiobitcoin.org/
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Chapters:
00:00 - Intro: The Quantum Threat to Bitcoin
00:34 - Setting the Scene: The Quantum Summit and Hourglass Proposal
02:07 - Origin and Concept of the Hourglass Proposal
04:57 - Challenges in Achieving Consensus and User Behavior
10:17 - Challenges of Hourglass v2 Implementation
12:37 - Enforcement Mechanisms: Indexing, Bloom Filters, and Slashing
14:39 - Limitations and Potential Solutions for Address Reuse
15:25 - Summary: Hourglass as a Balanced Approach
16:08 - Personal Views and Bitcoin's Evolution
16:51 - Risks of Chain Splits and Market Uncertainty
17:59 - Existential Threats and the Need for Proactive Solutions
18:36 - Quantum Computing as a Phase Transition and Urgency
19:54 - Game Theory and Implications for Satoshi's Coins
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