Bitcoin Forum

what is the future of bitcoin with quantum computers?


https://www.youtube.com/watch?v=-kTDmsNumVE (https://www.youtube.com/watch?v=-kTDmsNumVE)

Quantum computers are such abstract, that you can't predict anything. Many said they developed quantum computer before, noone did in reality.
Cryptography will be more vulnerable and with it bitcoin but its same stuff like cold fusion, 30 years of development, nothing in sight in next 30 years.

i would be worried more about the chances of bitcoin to survive, before the quantum pc will ever hit the market on a large scale

it doesn't need to hit the market on large scale...

right now bitcoin with its silly marketcap would not be a primarily target of hidden quantum computer, other big targets would be in the list before bitcoin

quantum computers aren't technically here yet. its just a logic board. but if they were, i wouldn't expect them to be used to crack private keys, that would be using wayy to many resources just to crack a bit of a cryptocurrency. highly inefficient.

Can this mean that within some years not even the Blockchain security technology can protect us for Hackers?

Not at all. The feats of quantum computing in the current day and age are far from being threatening and have no competition against the best computers we have now. It will take ages for a quantum computing to do anything that can be considered threatened to current day technology, so don't worry about that.

i think you people didn't watch the video or didn't read the news.

QUANTUM COMPUTER IS HERE. IT IS NOT A TECHNOLOGY FROM FUTURE. IT IS HAPPENING, IT IS HERE.


And yes, bitcoin is a target. YES IT IS. It has too much value right now.

And 'they' only need ONE (yes just one) quantum computer to destroy bitcoin completely. Not mass production, BUT JUST ONE!

The creation of an quantum computers is a huge step ahead in the computing science. It will be a big materialization which will help the human being in to many areas. I am not a scientist or a specialist in this field but I already read some things in Wikipedia about it. The news which are in the youtube video are not yet there. And I cannot understand the spoken English to hear it. But I think that if bitcoin is in risk with this computer the developers certainly will find a way to protect it from this kind of computer. Bitcoin cannot have such end.

In expectancy of this development here is an article which give an idea (solution) about how to protect bitcoin from such computer. This solution is named Lamport signature.

The article about the solution can be found here: https://bitcoinmagazine.com/articles/bitcoin-is-not-quantum-safe-and-how-we-can-fix-1375242150 (https://bitcoinmagazine.com/articles/bitcoin-is-not-quantum-safe-and-how-we-can-fix-1375242150)

While who want to know more about Lamport signature can read here: https://en.wikipedia.org/wiki/Lamport_signature (https://en.wikipedia.org/wiki/Lamport_signature)

Don't have fear. Have faith and hope. This must think every bitcoiner.

noo.... they havent made one yet. in the video he says they made a logic board with only two qubits. its going to take alot more than that to destroy bitcoin.

they can only broke ecdsa, if you send bitcoin and not receive only, to not reveal the public key if not mistaken

sha256 is immune

Two problems:
1) Quantum computers are not here. Even if they were, in this stage it is pretty much useless.
2) Still can't break SHA256.

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The researchers have worked out how to design using this method from 2 qubits to hundreds and 'potentially millions'. This does not mean that they've done it.

This!
Furthermore OP is just panicking and FUDing. And not long ago we had a similar thread with the same link and almost the same discussion.
Thread can be closed.Nothing, really nothing to see here.

Destroy Bitcoin? that won't happen lol.. there will be a fix ready! ::)

Almost all quantum computer research is conducted by Universities. Those same Universities have frequently thrown students out who were caught using their computing resources for mining Dogecoins, or Bitcoins. If a research group eventually invents a quantum computer that can break Bitcoin their University rules won't permit them to use it to actually break Bitcoin. Any of the researchers would also face prosecution for leaking the technology to someone else prepared to use it to break Bitcoin. Whatever a group of researchers invents while working for a University remains the property of the University, not the researchers.

The entire internet, every computer connected to the internet, every network including all fiat banking would all be vulnerable to a true quantum computer breaking encryption. So yeah if the internet dies then I guess Bitcoin will be in trouble  :-\

Agreed, I think about a trillion dollars a day gets traded through the FOREX markets, so targeting the bank transfers between the banks and those markets would be more lucrative than targeting Bitcoin. There was a big panic when a way to hack SSL certificates was discovered, but the whole internet relies on them, not only Bitcoin. There was more panic about banks being targeted than Bitcoin until the vulnerability was patched.

this is why bitcoin won't be the first target at all, there are many more valuable secured things, to break first, if this thing will ever work

From my understanding, these quantum computers will mainly be used for medical research. Though it can be used to crack codes I think it will have no influence whatsoever in bitcoin.

That depends who has the first quantum PC, and who has connections to avoid the big theft.

Like if some big bank funded research makes the PC, they wont be hacked, but their rivals could be.

I thought also that we have already closed this discussion in the previous thread. I don't see the point of proving everything all over again! Case closed!

Dude, do you think it would be a catastrophe that SHA256 got hacked because of Bitcoin? the entire banking infrastructure and a ton of other infrastructures not related to banking are running under SHA256, it would be a total disaster. It's just sci-fi. Also before that happens im sure the devs will be aware that something like that is actually feasible and they, and any coder that is pro-bitcoin and wants to contribute will help. This is smart money for a reason. It will keep evolving to whatever treats we meet along the way.

Given the amount of time governments have been able to keep much more visible technologies such as the f-117 stealth fighter from the general public I highly doubt we are privy to just where various governments are at with this technology.  Especially given that politically this technology is the modern day equivalent of nuclear ICBMs in the 60s-80s. 

Quantum computing is no thread to Bitcoin. Why would someone who have access to superior computing power would want to steal bitcoin.
When instead you can hack and steal billions from every bank in the world with ease? After all we have more money and 'virtual' assets flying around that normal paper money.

Wouldn't bitcoin just hard fork to a new quantum resistant algorithm? In order for those with malicious intent to get quantum computers, they have to go mainstream first. By that point, many researchers will have had quantum computers for years and could develop a new quantum resistant hashing algorithm, which Bitcoin can adopt when quantum computers go mainstream. In fact, that algorithm may not even need to be adopted if SHA256 is still good enough.

Are quantum computers capable of defeating human poker players?

I think future of cryptocurrency will depend upon the owner of that so called quantum computer. I doubt it will be opened for public or even in reality before next 10 years. Yes if it goes to wrong hand like some banks right now than they may threat the blockchain security.

I don't think there is any need to panic for 2 reasons
1.First i think,it is not possible even to break or crack SHA256
2.If even it's possible,then i don't think quontum computers will be available to public and they will only be used for scientific purposes..there's so much money invested in bitcoin around the world and i seriously doubt some computer even if it's quountum can completely damage bitcoin 8)

I too do not think the currently available quantum computing machines will able to crack down the bitcoin private keys. All the quantum computers are not able to break bitcoin, people misunderstand that invention of quantum would break bitcoin private keys. That's completely meaningless. The extreme quantum capable computers theoretically may crack our private keys, but not viable for their invention for next 50 years.

and now, all the people will buy it to crack the priovate keys of satoshi nakamoto

You can't, need billion years to crack it. even if use Moore's Law (https://en.wikipedia.org/wiki/Moore%27s_law).