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Title: How will Quantum Computing affect the bitcoin market? Post by: demonz on October 05, 2014, 07:19:42 PM How long until this comes upon us? Is ECDSA safe? What are the alternatives to avoiding the collapse of the currency if private keys can be intercepted easily?
Title: Re: How will Quantum Computing affect the bitcoin market? Post by: Magic8Ball on October 05, 2014, 07:28:02 PM Quantum computing like the ones shown in fiction are still in fiction. They are atleast 30-40 years away, maybe even a lot more.
Technology demonstrators which can do basic operation are already in place. Title: Re: How will Quantum Computing affect the bitcoin market? Post by: Elwar on October 05, 2014, 08:02:28 PM Welcome to Bitcoin.
Title: Re: How will Quantum Computing affect the bitcoin market? Post by: Sheldor333 on October 05, 2014, 08:05:16 PM That technology is not close, but when it happens there are certain ways Bitcoin could be saved but a lot of things would need to be changed.
Title: Re: How will Quantum Computing affect the bitcoin market? Post by: mnmShadyBTC on October 05, 2014, 08:05:22 PM How long until this comes upon us? Is ECDSA safe? What are the alternatives to avoiding the collapse of the currency if private keys can be intercepted easily? Quantum computers are here. The NSA already reportedly has one. ECDSA is safe as it would take up more energy then the sun produces in many lifetimes to be able to "mine" a private key to a specific address using the most theoretical efficient computer Title: Re: How will Quantum Computing affect the bitcoin market? Post by: Some1else0 on October 05, 2014, 08:33:11 PM Well, quantum computing probably won't be available to the public for a long time, and even when it is it'll probably be really expensive. However, when it does come out, hopefully there are better ways to secure your Bitcoins.
Title: Re: How will Quantum Computing affect the bitcoin market? Post by: jonald_fyookball on October 05, 2014, 09:52:31 PM OP, it won't. Been discussed many times. Search the forum.
Title: Re: How will Quantum Computing affect the bitcoin market? Post by: skeeterskeeter on October 05, 2014, 10:54:21 PM OP, it won't. Been discussed many times. Search the forum. http://bitcoin.stackexchange.com/questions/6062/what-effects-would-a-scalable-quantum-computer-have-on-bitcoin Title: Re: How will Quantum Computing affect the bitcoin market? Post by: newIndia on October 05, 2014, 11:32:05 PM How long until this comes upon us? Is ECDSA safe? What are the alternatives to avoiding the collapse of the currency if private keys can be intercepted easily? Why this same Q keep coming back again and again ? Be wary about online banking before u worry about Quantum Computing effect on Bitcoin. Most of the banking software still fee protected under SHA-128, whereas Bitcoin implements SHA-256. Title: Re: How will Quantum Computing affect the bitcoin market? Post by: santaClause on October 06, 2014, 03:06:31 AM Quantum computers will be less efficient then ASICs as they are capable of doing multiple tasks while ASICs are only capable of doing one task (mining SHA256 coins) therefore lose less from excess capabilities.
I think ECDSA will remain safe as someone with a Quantum computer would be able to make more money from mining as opposed to trying to steal money from wallets/addresses |