Bitcoin Forum

http://www.eetimes.com/document.asp?doc_id=1326468&_mc=NL_EET_EDT_EET_daily_20150429&cid=NL_EET_EDT_EET_daily_20150429&elq=a59559bfb7664cde842c7b2bb9e68b8c&elqCampaignId=22769&elqaid=25618&elqat=1&elqTrackId=6252292228f14224804cfbfa4bed4c75

For all you that think this will doom Bitcoin:  I will buy your BTC from you.  I am paying $1 per BTC.

Don't listen to Burt... He's crazy!
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I'll pay $20 per BTC

It's still far from practical, there is nothing to worry about quantum computer, there will be sure the algorithm will be updated when the quantum computer can broken SHA 256.

15 seconds? this is still a joke, but in the future i can see those as a worthy threat, but right now they would break the ecdsa, in case some prototype can be made functional and last maybe more than 15 seconds...

Quantum computers are common news since 15 years, and not single one exist yet :D

It is not out yet. Even quantum computer is created, we will have some solution to fix it, such as change algo sha256 to sha512, even sha1024. Or other algo.

This is correct. And from what I could see after reading some articles how Quantum Computing works. QC are not exactly the best machines to solve cryptography problems. They are not working as our current gen machines. And if bitcoin will be in danger so the risk of quantum computers is also there for financial institutions, like banks, because they heavily rely on cryptography when processing transactions.

It has yet to be determined if and how quantum computers may influence Bitcoin in the future! If they are able to circumvent SHA256, Bitcoin may stop working in the way it does today. But chances are that even in the worst case we could just go and continue the Blockchain form their latest version on with another PoW algorithm or hashing functions used for private key -> public key -> address.

I wont sell u @ 1 USD/BTC. Because, if SHA-256 is broken, online banking is broken. USD has no value anymore. I want 1000 USD/BTC. ;D

I am following your logic. Bitcoin is doomed, but you are still buying Bitcoin at $1. I think Bitcoin will worthless.

you think when Quantum Computers are available, they will break anything! Like Bitcoin, bank, even USD!how could it be! The ppl behind then wouldn't let it happen! They will implement Quantum Computers to their systems as well!

If they can break anything I'd be more worried about the nuclear launch codes then bitcoin.

Why did you make another thread when you've already posted a link in the other one?
This is as big of a deal as the usual discovery of amazing battery technology that we've never actually seen anywhere. The quantum computers aren't here yet, although times are quickly changing in modern society.
How about SHA2560?  :D

Yeah, in the "news". Listen, stop reading r/futurology if you're not intelligent enough to discern bullshit from reality. 95% of the "articles" there are sensationalist clickbait horseshit.

lol.. theoretically no ammount of hashing / encryption could stand up against a pure quantum computer from the future

Try to talk some sense into this discussion here. If quantum computing can break SHA256, all the online credit card transaction that involves encryption is not safe either. In other words nothing is safe unless a new way is found to scale up encryption technology accordingly. so what makes bitcoin the target of attack over here?

nothing, bitcoin as a target would be the last of our worry, unless by that time it was skyrocket to 1M per coin or other unimaginable value

ssl, banks and any other system could be violated easily...and they think that we should worry about bitcoin....

If online banking got broken, we could at least revert to cash and checks.

And the whole industry of internet payments would collapse. Yes, I definitely vote for going back to the old ways.  ::)
We should be looking forward, not backward.

I think it is the ECDSA not the hash function per se that would become theoretically vulnerable...maybe someone knowledgable can clarify.

This thread was meant more or less as a joke but I did post the same story in a more technical thread here:

https://bitcointalk.org/index.php?topic=240410.msg11239224#msg11239224


And there are many other threads that discuss how effective QC would be a cracking the various crypto sub-systems used in Bitcoin.