On The Brink with Castle Island Weekly Roundup 05/02/25 (OP_RETURN wars, Mastercard and Visa push stables, quantum revisited) (EP.618)
May 2, 2025
Matt and Nic dive into the fascinating intersection of stablecoins and credit cards, pondering if stablecoins could disrupt traditional payment methods. They examine the potential threats quantum computing poses to Bitcoin's security, discussing urgent measures that need to be taken. The duo also highlights the ongoing debates among Bitcoin purists versus the growing commercial interests in the space. Scandals involving Movement Labs add a layer of controversy, while recent developments from Circle and regulatory efforts showcase the complexities in the evolving crypto landscape.
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Matt's Early MasterCard Interview
- Matt Walsh was interviewed by MasterCard in 2013 or 2014 about Bitcoin as a potential threat.
- They asked him to diagram how MasterCard works and his early thoughts on Bitcoin's impact.
Stablecoins vs Credit Cards
- Stablecoins might not disrupt credit card payments because consumers value rewards and chargebacks.
- However, stablecoins are still impactful in broader money movement, especially cross-border.
Quantum Threat to Bitcoin
- Quantum computing risks Bitcoin's cryptography within 5 to 10 years.
- Wrapping coins in quantum-resistant signatures may protect active users, but old dormant coins remain a major vulnerability.
