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Title: if quantum computer appears in next 3/5 years as IBM said, what will bitcoin be? Post by: fizzson on September 27, 2018, 09:55:42 PM Around 2/3 months ago, VP of quantum computing of IBM said quantum computer will appear in next 3/50 years. as you know, ECC of bitcoin is not quantum safe. then once quantum computer becomes to be true or newspaper talking about quantum attack to Bitcoin. will bitcoin be destroyed totally from the eco-system to the price? how about your guys think about quantum attack? and what the actions we can take?
Title: Re: if quantum computer appears in next 3/5 years as IBM said, what will bitcoin be? Post by: Iyeman on September 27, 2018, 10:00:37 PM Around 2/3 months ago, VP of quantum computing of IBM said quantum computer will appear in next 3/50 years. as you know, ECC of bitcoin is not quantum safe. then once quantum computer becomes to be true or newspaper talking about quantum attack to Bitcoin. will bitcoin be destroyed totally from the eco-system to the price? how about your guys think about quantum attack? and what the actions we can take? It's a bit difficult to imagine about that but as far as i know crypto is already resistance for quantum computing. Not sure about that AFAIk quantum computing is working for 64 bit algorithm or less than it but i think that the quantum computer works through down grade the algorithm. Quantum computing still a dream. Title: Re: if quantum computer appears in next 3/5 years as IBM said, what will bitcoin be? Post by: bitmover on September 27, 2018, 10:18:11 PM With quantum computing mining will probably be affected, as hashrate will grow exponentially.
But quantum computers will not break privatekey neither affect bitcoin security /consensus protocol.dont worry Title: Re: if quantum computer appears in next 3/5 years as IBM said, what will bitcoin be? Post by: TheBiochemist on September 27, 2018, 10:54:22 PM 3 to 50 years? That says it all lol
If quantum computers are supposed to be any sort of threat, the computer will still need loads of q-bits, regular computers evolve as well so there is even a chance that the amounts of qbits needed at the day when they arrive as consumer computers, will be larger then what we possibly can keep stable to even compete with a regular computer. What do they claim to be able to stabilize today 8-28 bits? Useless, and that will be the case for waaaay longer then 3 years prior to a consumer grade products that is for sure! Oh yeah and many coins did start or finish quantum proofing just in case( allegedly ) Title: Re: if quantum computer appears in next 3/5 years as IBM said, what will bitcoin be? Post by: avikz on September 27, 2018, 11:26:51 PM If quantum computer becomes a reality, then certainly it will pose a real threat to bitcoin security. I had read a report by MIT on this actual subject few months back. They said the threat is real and imminent but it would take more than a decade before we can see it actually happening.
You can read it from the below link, https://www.technologyreview.com/s/609408/quantum-computers-pose-imminent-threat-to-bitcoin-security/ However, I can tell you two reasons why you should not worry. Firstly, quantum computer doesn't exist in perfect world, except in theories! It is being developed and we still don't know anything of its progresses. It may take 3 years, it may take 5 years or even more! It may not even become a reality! Secondly, quantum computers is being developed for specialized purposes and it will not be available in the market for anyone to buy and use, at least for next 2 - 3 decades! So it is highly unlikely to be misused for any other puspose. Unless a particular government wants to use quantum computer for destroying cryptocurrency, your bitcoins are very much safe! Technologies will be evolved and become more powerful. That is the nature of technology. Who knows, by then probably we will have new security protocols available to prevent any breach by the quantum computers! |