Bitcoin Forum

Well bitcoin is going up really seriously but i have an possible senario for bitcoin to end first of all mining bitcoin is becoming almost impossible without huge investments so we need better equipment and new technologies right ? I think it’s very near and they are called Quantum Computers to explain these computers are might be 100 million times powerful and useful than todays computers so they would be easier to mine bitcoins with it even if difficulty of mining goes up as tech grows but the thing is Blockchain does not have any protection to quantum computers which i laugh about it so much and when this technology comes out people would start to steal bitcoins instead of mining because its going to be more profitable how come people cannot forsee that for the next 5 years bitcoin is going to make great job but after that Quantum Nightmare of Bitcoin is going to end it up

Possible ?
Like "end of the world" ?
Have you anidea of the number of projects about Bitcoins all around the world ?
itcoin will end, sure, but only after the end of the world.

Haha this is not even an answer to what i said

You didn't think about the fact that the same quantum technologies will be used and the miners too. There is nothing complicated to boot a computer even if it is quantum. In Code will be added as many characters as you need to ensure that a quantum computer could not find it. Bitcoin is a very complex self-regulating system that will live under all circumstances.

Do you think technologies improves for only the bad people? With this cpming quantum computers blockchains might also be improved. Improved blockchains and some new hard forks would make the system much more secure than it is now. I dont think such end is near.

no, it may become unprofitable but it can not last long. if it so miners will leave and difficulty will go down and it becomes easier to mine and profitable again. things will go back to normal.

and with the current price which is extremely high compared to what they earn it is super duper ultra profitable.

this has been argued a lot. search those topics and read them.
it is not how you think it is.

The question asked by the OP is not so easy to answer.
However, like the bitcoin is was going up, it will exactly move like this in the opposite direction.
To say that after the Quantum nightmare, we will experience the end of the bitcoin? I don't think so, as things will be always done better to adapt to the current situation. Billions of $ are invested in the research continuously as well.

Block chain is not protected as much as you think  and by the way i did not talk about profitablity of bitcoin the thing is why people use such computers to mine bitcoin instead of f*cking up the system nad stealing them all ?

I don't think BTC will die because of those Quantum Computers. Those Quantum Computers will be used by Could Mining firms and people will be able to use them just as they buy a membership on cloud mining platforms now. Maybe less profitable, but will sustain.

wawoo ;) a funny one, no such possible end of bitcoin we can see in near future except that when there is world war or shutdown of the internet which seems not to be in the near future.So when the whole economy we can expect such scenario in which there will be an end of bitcoin

These billions are gonna explore iota and things will change billions are not stable people are going to invest something much more secure and fast which is iota

There are things such as pools that when the difficulty becomes to hard for a single person to mine then they can work together in pools and combine their power.

Why dont you understand why would they do that instead of just hacking into the system ?

SHA256 is already quantum resistant. ECDSA not so much. However, it is not to difficult to replace ECDSA with some other quantum-resistant public key cryptography technology.

Quantum technology is not a threat to mining. It is more a threat to revealing the private key from the public key (but not just from the address, which is a digest of the public key).

Well i didnt say that it is a thread to mining it is a thread to bitcoin itself

There is no such thing as sha256 is quantum resistent that system is only resistant to todays computers

I do not see the sign of bitcoin coming to an end, but what I see bitcoin is getting stronger and bigger. bitcoin is very difficult to destroy because the ones that make bitcoin always live are people who are active or working with bitcoin. if more and more people are using bitcoin then bitcoin is getting harder to destroy. I think bitcoin will be destroyed if everyone dies or doomsday.

The end of internet is the end of almost Everything including digital currencies. Although it is unimaginable and impossible that internet will be shutdown, it is the only thing that the world should be afraid of.
Bitcoin cannot be stopped by Government or hackers or activists.

Do not speculate much and do not worry much on things that are not yet possible.  I do not think that bitcoin will end that way and neither bitcoin will end.  No one knows how bitcoin will end.  Maybe only the creator of this which is also unknown to us.  Bitcoin cannot be put down by that silly speculation.  It has been tested and proven and no one can steal bitcoin on whatever ways.  Just human error.

You are beng rather vague about the topic you have brought up.

Computing power is good for bitcoin and will not affect its security. if the rest magically is all mined at once then it will become even more valuable int he mid term after a slight dip in price.

how would this affect security? speed doesn't necessarily mean access. explain.

If anybody will creat Quantum Computers than not only bitcoin will die but all banks also (visa, mastercard, etc).
Now all money system using same crypting like bitcoin.
So don't worry about it!  :o

Quantum computers are much more stronger than todays computers and they are going to be able to solve much more complex questions and problems which havent solved yet with that kind of power and complexity blockchain system’s complex system might be able to be solved with quantum computers and can be attacked or get disturbed with that technology

Very well said. Quantum Computers won't be here over night and Bitcoin is a envolving system. I strongly belive Blockchaintechnology can adapt to future challenges like Quantum Computers.

That is also the scenario when bitcoin was 1st introduced. And now computers have already upgraded in hardware and softwares but still bitcoin is hard to mine. In the first place, Bitcoin is a product of digital evolution, so I think it will always evolve as new technology comes out. Bitcoin will end if there were no users, but in reality, there is more and more people into bitcoin.

Possible ending? Maybe. I believe that it may or may not end. If it will end not in the near future. I believe that the world is going to digitization. Bitcoin is the future. It will evolve or improve and humankind will get to know more about it. With its increasing number of users it will definitely be legalized. There maybe some constraints but eventually we must face that digital currency like bitcoin is  up for today and the future years.

That is next version of super computer but still efficiency of quantum cannot able to hack one wallet easily without that concern crypto wallet private key. With the operating system best security encryption been taken part.
Why you want go with the quantum computer or stick mac pro which is gonna be invent as the updation of the mac series.

In the form in which bitcoin exists now has no future. This is because bitcoin was conceived as a currency but has gradually turned into an object of speculation. Someday the whales will bring your capital and everything will collapse. You will have to invent quantum computers.

I don't think so,
the word 'End' is not applicable for everything, I think it is not also applicable for bitcoin Platform. I believe that Bitcoin will play a vital role in the money market in the world. not only that But also Bitcoin will be the global currency so that Bitcoin is going to be terminated anymore.

I totally agree with this. And also don't even think that bitcoin will end when no one can no longer mine it. Bitcoin will still continue to be around even if that happens. As long as there is someone using it bitcoin will still be there. And the price will only increase if there is no longer a source of bitcoin because the demand for it will surely increase too.

No. If hackers can use quantum computers and can hack wallets and private keys with high power why can't developers built wallets and encrypt  private keys with high power with help of miners.

Possibility! the end of the world means the end of everything if it's gonna be the end, but if it is not nothing can sure end bitcoin in creating a surge of increase, I think it will continue until it reach a $100,000 mark value, but if bitcoin can become a global currency of the future transaction can become convenient and I think we can see something great if that happens,

I don't think bitcoin is going to end soon. It is on they way to rise and go global now. Yes, some difficult problems must be solved with governments, taxes and safety, but everyday more and more people are getting into cryptocurrency. New technologies, which based on they crypto market will be upcoming every year. So I don't see an end right now.
Maybe an other Coin with a perfect technology will be the end of Bitcoin, even so, we are still in cryptocurrency.

If you will have Quantum computer (you need about 100 mln q-bits (for now it's about 16 q-bits, but i could be wrong)) it will destroy cryptocurrencies like bitcoin, you will need quantocurrencies in that case)

If there honestly any real threats a hard fork could always be implemented. Yes it pisses people off and we will most likely lose some investment and people who are easily scared, but it would not be the death by any means.

I think no other coin will replace Bitcoin and also the bitcoin will not die. If the bitcoin wants to die means lot of things should happen and all people hate this bitcoin then only it is possible. But now every day the bitcoin users are increased a lot, so it is not possible.

My guess on the "Quantum computer destroying Bitcoin part"
is that there will be new software (possibly quantum software) upgrade for Bitcoin to counter any attack from quantum technology. Have seen something of that this nature mentioned somewhere on the forum but can't remember where.

I think also it is possible when there is another world war or global shutdown of internet! that's the only possible reason I think that can paralyze all transaction of bitcoin.

The moment is coming, but technologies do not stay on one place, so I suppose people will create something new to reach their targets.
Actually Bitcoin has many scenarios of it's development and we can't say today which is going to be the truth. Bitcoin is still just in the beginning of it's growth and the world just start to pay attention on it seriously. I think we will find the exactly scenario of Bitcoin's future just in couple of years when the situation about Bitcoin's legalization over the world will be clear. 

You have another problem coming if quantum computers come into existence: they are assumed to be able to crack private keys from public keys. Cryptography in general will be in need of a breakthrough.

Buddy, if quantum computers come into existence, it doesn't mean that its the end of bitcoin. The developers will find a way to protect bitcoin from it. I am sure. First of all let quantum computer come into existence. Here we are arguing about a topic which is not in existence itself. So buddy don't screw your brain too much and enjoy your day.

Yes  i agree with you there but i dont bellieve that this is the end of bitcoin in the future there are so many people who realy like bitcoin so its almost imposible that bitcoin will end

For my opinion, no one can say when bitcoin ends.
No one can predict it on the future. I just take a look at it when it happens.

Of course, in theory, you are right, also, in theory, practice and theory are the same thing, but in practice they are different. What will happen when we get to the stage of practical quantum computing is that quantum computers will be used for hashing, also bear in mind that it is infinitely easier to hash something than to unhash it, so I wouldn't worry about it right now.

an innovation in everything needs to be done, because it is for something to be better. as well as the current bitcoin technology. in the future, there needs to be a change in the system and the other so that this technology more easy to use and useful for everyone.
but in my opinion, bitcoin will still exist and last for a long time .. even though quantum technology like you said there will be, i'm sure it will not be a nightmare for bitcoin.
just my opinion.

- There will be no practical end of bitcoin.
- Bitcoin mining will remain profitable in future too when all bitcoin will be mined because of fee associated with the tx that will be included in blocks.
- Quantum computers are just some sci-fi gadgets till now, there is no any working prototype. There will be another bitcoin hardfork with advanced security against super computers if there will be quantum computer in future.

I think investing in high-tech equipment in Bitcoin mining is a must-do when most of the older equipment is no longer adequate to meet today's mining needs. Besides, they invest so, they take risks and they earn more Bitcoins from it is what happens. However, very few people can do this because of the tremendous resources for specialized mining equipment

1.
It is not impossible for the internet to be shut down.
It's a bunch of cables and computers relying information, one real organized terrorist squad could take a lot of those a cables and data centers out.

2. Remember (if you were alive at that time) how life was 20 years ago? Or 30?
People were still going out, watching movies, working, drinking, travelling and fword.
And all that was possible without internet.
There will be no end of nothing. (except for fb and nigerian scams emails).

Having in mind how we today depend on internet and new technologies the end of internet would not mean just end of Bitcoin but the end of the world. And to my opinion this might happen only with some heavy catastrophe or new world war. But every technology developes and adjusts and so it's the case of Bitcoins. And nothing can't just vanish and disappear over night without some very good reason. So, relax.

While bitcoin is growing at a record pace, and its real value, we do not know. The peak is ahead, and, perhaps, the turnaround will not happen tomorrow, but if there is a sharp drop, it is likely to be felt not only by the owners of crypto-currency but also by ordinary people.

It will take a lot of time before quantum computing will become a real thing for ordinary people. Quantum computers need proper cooling which requires a lot of electricity. Probably we won't see them in our houses for the next 50 years, at least. I wouldn't worry unless there's a major breakthrough in this technlogy. Bitcoin is safe for the next few years.

Actually I do not believe that bitcoin die. Why?  Because I really believe that it will take so long, and there will be more investors in up coming years.
No need to worry if so Speculation might come but it never affects bitcoin.

Is it impossible to end bitcoin today.It may depend on internet and new technologies.The end of internet would not mean just end of Bitcoin but the end of the world. And to my opinion this might happen only with some heavy catastrophe or new world war. But every technology developes and adjusts and so it's the case of Bitcoins so Actually Bitcoin has many scenarios of it's development and we can't say today which is going to be the truth. Bitcoin is still just in the beginning of it's growth and the world just start to pay attention on it seriously.

Bitcoin will find an end one day after some serious crashes and after another technology has been invented which works much better than blockchain. But as long as blockchain currencies exists, there will be a place for Bitcoin.

Not necessarily. Bitcoin is upgradable like any software. Take Microsoft Windows as an example. It has been widely used for almost 30 years and it's still here. We are still using a mouse to point and click on icons, just like we did 20 years ago and we're still using good old keyboards to write.

Nobody knows .... Even the founder of bitcoin didnt know that  :-\

Key point: bitcoin is not money, but better than money, is a Fund to which each contributes according to his abilities, but takes according to his needs. It is not necessary to turn in the money, money is a tool to control the people, it is a pity that many do not understand, there is no need to interfere with bitcoin transactions may be long if the network is congested, this means that the Fund is in this moment under the load and we have to wait

I don't think so Bitcoin will end,Because Bitcoin is a digital currency that's not tied to any bank or organization or government. Day by day it is using every where. And lot of country allow bitcoin to use. due to not control by any organization its not possible to end of bitcoin. its totally my opinion. The most online financial transaction of this century is bitcoin.

https://bitcointalk.org/index.php?topic=1263.msg23376405#msg23376405

I agree with this statement. Everyone will simply present their theories, but no one actually knows if bitcoin will fall or not. My theory is that bitcoin will fall if all the investors around the world give up on bitcoin which is highly unlikely.

Forget quantum computers, bitcoin is a joke anw, no need of super computers to end it. It is just a waste of energy database with no real work to do. When people grow up and understand what is bitcoin, will move out of it and go to a real coin like ethereum neo etc...

Bitcoin is acting as a primary cryptocurrency basically, and Bitcoin won't end for sure, because people comes to know about crypto starting from Bitcoin. Surely other altcoins has very strong background and many more benefits, but Bitcoin being the first people will always stay attached to it. Maybe the users might shift and other altcoins might overtake its value, but Bitcoin will still stand firm.

Everyone has the right to his own opinion and attitude and I don't deny that ETH is good coin but still it can't be compared with Bitcoin and I don't believe it will ever take its place. And Bitcoin will not end or vanish so easy like some think. Many coins are fighting for Bitcoins' place and their users hope one day will be so valauble and accepted like Bitcoin bit on the top there is place for only one cryptocurrency and that is Bitcoin. So, dream on.

I guess you didn’t read that much, this quantum computer can solve cryptography easily because it can factorize very large numbers. for now maybe we don’t know what will limit the technology but there will be a way to limit it, but that’s when we are familiar with it.

Difficult that BTC will dead...

This gonna be very long and it’s also uncertain this quantum computer will be created like as predicted especially if this quantum computer meets a dead end during the research. it is still too early to  exaggerate things that have just started and uncertainly will succeed. but if it’s really created it will be scary if nothing controls its use.

this is still a technology project for the future, which the difficulty certainly will be proportional to the number of transactions occured. when Bitcoin becomes more famous in the future then the price and the level of difficulty will also increase. Bitcoin lives on demand from the market and it's not as easy as you said that the price will rise again after it dropped.

for the possibility of ending bitcoin until this moment no one knows its ending with what and end for what? we all no one can know therefore take advantage of bitcoin while there is still a chance and invest for something that is profitable

Yes it is, maybe sooner or later there would be a certain currency to sprout and be functional better than bitcoin probably people will tend to look for the other who they think we're better for bitcoin but I don't see this happening as soon as possible because of its power in the society nowadays.

Machines come out every day, every day stronger, where is the limit? I don't know if there is, do you know? Except the limit of your wallet burning. But consider this, no-one will buy machines that are too expensive, except maybe big money holders, btc farmers, because if you want to mine btc now, you should get a farm or something like that.

History repeats itself, like we survived a lot of apocalypses the same is with bitcoin it looks like.

You may encounter 20 possible ends for bitcoin but reality is, there will be no end, there will be miners, miners are used for transaction and for another 100years making bitcoin and the more users are using, value is increasing the more likely will live on, there will be a way.

Well this is possible we shouldall accept this , but this is not gonna happen to soon and I think before bitcoin will end there would be a certain Fiat to be consider for the prior event , I think ffor the power and popularity that bitcoin has been obtaining right now this is impossible to soon to be happen given the fact that bitcoin has a huge number of workers tokens will be used and concluding for expansion of its potentials.

I agree with you that so many coins want to compete with bitcoin even though there are so many ETH enthusiasts, but they all need bitcoin, for their needs, even when bitcoin prices rise, we can see where all exchanges show a decrease in the price of altcoin, ETH, so it's no longer denied that bitcoin will be strong and there's no ending, for the coming year, and I hope bitcoin can replace the world-wide currency, to make it easier for the country to invest even for business ...

Yeah. Bitcoin is now taking its place as the cryptocurrency that will be used by everyone of us in transacting online. So i dont think that it has the possibility to end bitcoin.

Even if high end or super computers are being developed and circulate the market it will not cause btc to end. As years go by, blockchain will never be the same as it was first years back. Much have been developed and it is adapting to the current technologies. There will always be developers who will see to it tht no such Quantum nightmare will destroy it. And as for the miners, there will always be people or groups of people who will be willing to do the mining even if it's hard and costly. Even after the halving and the number of btc mined in every ten minutes is cut in half again, btc will be widespread enough by that time that the cut will not matter. Surely the price will be higher than we can imagine by that time so miners will always be there eager to mine and get their shares of coins.

All the users expect a constant increase in the value of bitcoin. So constantly can't be in the future we will be faced with the fact that volatility will fall and the speculators will start to massively withdraw their capital from cryptocurrency. This will lead to a sharp drop in prices. If this does not lead to the death of bitcoin will remain only those who support the idea of a free economy and bitcoin will start its transformation into a currency.

I suppose the question is whether the quantum computers can be configured to mine bitcoin. If one super quantum machine can mine all the btc instantly, then it could be the end of btc!

Bitcoin has continued to wax stronger despite all the hurdles occasioned by the clamping down of exchanges by the Chinese government.
Recalled china with a substantial holders of bitcoin cannot stop bitcoin, the end of bitcoin is not at sight now because more countries had adopted it. If countries like Russia, USA, France e.t.c has officially recognized bitcoin I do not see it end now.

cryptography is an algorithm that cannot be altered but upgraded. There is still a team that's working on the development of the Bitcoin technology. Quantum computers still work through coding, and so cryptography can just as easily adapt to the growth of technology.