Bitcoin Forum

What if quantum computer breaks quantum Bitcoin's encryption?

Quantum Computer has the potential to break many of the encryption method that keeps bitcoin secure.

This is just some randomly thoughts emerge on my mind when I accidentaly watched a video about quantum computer. So I did try to search for more information and ended up asking an AI, but sad to say when I asked an AI about risks of quantum computing, it'll only provide vague answers.

Besides we are all aware that technology keeps evolving and developing day by day, so there is a possibility one day this question will pop up. So I want to hear your thoughts.

Firstly, you're in the wrong board mate.
Secondly, this topic has already been discussed a lot of times before. You just gotta search for it if you want to read the answers of the users.
Thirdly, I would like to assure you in short that quantum won't break bitcoin. There will always be ways to overcome every threatening situation like in the past.

1 min google search

https://bitcointalk.org/index.php?topic=5434706.0
https://bitcointalk.org/index.php?topic=5381812.0
https://bitcointalk.org/index.php?topic=5157696.0
https://bitcointalk.org/index.php?topic=133425.0

Few threads about this topic. One of them is 11 year old. People discuss it a lot together with how possible it is and how to fight it (if it's even a threat at all). 

When someone who does not know the basics of using the Internet asks a question like this, everything is more than clear. Even AI doesn't want to answer stupid questions, or is too stupid for an intelligent answer. Someone wrote a long time ago that Bitcoin is the smallest problem in the event that quantum computers become capable of breaking such encryption, because before BTC it would break everything else that is protected by various encryptions.

I'm just trying to give an overview as far as I know about this for the Security of Bitcoin and other cryptocurrencies is based on complex mathematical algorithms which are currently difficult to solve by traditional computing methods. However, the rise of quantum computing threatens this security, because quantum computers are capable of processing information at much faster speeds and with greater efficiency than classical computers.

If a quantum computer cracks the encryption that secures Bitcoins, it could potentially allow attackers to steal all the funds stored in that particular wallet. This would be a disastrous event for the cryptocurrency industry, as it would undermine investor confidence and potentially cause an entire market collapse.

However, it is important to note that the development of a quantum computer is still in its early stages.

From what I understand quantum computing will one day be able to break public keys to get private keys, at least in the cryptography Bitcoin currently uses. So all the ~2 million bitcoin sent to public key back in like 2009/2010 that are still sitting in those wallets will get hacked one day from quantum computing, at least any of that Bitcoin that hasn't moved by then.

Otherwise I don't think there is a major threat. Though Bitcoin may need to update its encryption mechanisms before QC gets really mature. I'm not too familiar with all this stuff but from what I understand, the idea that QC will just totally break Bitcoin is not correct at all.

Anyway, Bitcoin is of course upgradeable so any quantum resistance needed can be upgraded into the protocol. I think the main worry is those 2 million or so BTC that from what I understand will eventually be stolen through QC. Seems like either those Bitcoin need to be blacklisted or we need to accept that a couple million bitcoin are suddenly gonna be stolen and likely put on the market in the greatest heist in history at some point in the next couple decades. That's my understanding just from the little bit I've read about QC as it relates to Bitcoin.

Another week, another "quantum computer breaks bitcoin" topic.
What if people use forum search, or https://ninjastic.space/search or even google before asking the same thing over and over again?