[Cryptography] Montana: A Post-Quantum Blockchain with Time as Scarcity

[Bill Woodcock]

> On May 19, 2026, at 20:01, Ron Garret <ron at flownet.com> wrote:
>> On May 19, 2026, at 8:05 AM, Bill Woodcock <woody at pch.net> wrote:
>>> On May 18, 2026, at 09:12, Pierre Abbat <phma at bezitopo.org> wrote:
>>> With  cryptocurrency, a lost coin cannot be found
>> This kinda leads to a circular definition of “lost.”  I guess I would say that in traditional currencies, large amounts tend to go into reserves, and optimists assume that they will stay there, but when things get bad, optimistic predictions which may have held fast for long periods of time suddenly become inapplicable.  With cryptocurrencies, optimists assume that large blocks which haven’t moved in a long time are associated with lost keys, which will not be found or brute-forced.  I imagine optimistic assessments which have held true for a long time could, likewise, go out the window rather quickly if the status-quo changes.
> 
> The only way to actually destroy fiat currency is to destroy physical tokens.

Uh…  That’s not how things work in the world I inhabit.  In the world I inhabit, when interest rates get too high, reserve banks buy back currency to remove it from circulation, and thus, from existence.  There are no physical tokens.

                                -Bill

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