Google Says That They Have Just Reached Quantum Supremacy - BITCOIN IN DANGER?

[flyingplows]

I think Bitcoin will rule crypto currencies for at least about 5 years and at most about 10-15 years, and quantum computers entering actual arena are certainly more far away than that. So we shouldn't worry much. 

[Kakmakr]

I think people should be more worried about the other non-Bitcoin security breaches that might occur, if QC could break the encryption, because most secure websites <Online Banking> use the same Algorithm and that would pose a even bigger threat to the global financial economy.  

Also remember that we dealing with a piece of code here and developers already have solutions in place for scenarios like this, so you would simply have to shift those coins to a more secure address, if QC actually posed a threat to people's coins.  

[funchiestz]

Quantum computers are one of the most popular topics of recent times. What they can do yet, the limits are still unclear. But for some reason, when it comes to blockchain, everyone is interested in the negative side. Well, what can these quantum computers add to mining BTC? Couldn't it be expected to move BTC mining to another dimension? Doesn't the approval in the next few seconds speed up transactions?

When something new occurs, the process of rejection always works. For Bitcoin, this process is still running. At the same time, people's fear of quantum computers is the result of a similar process.

[joelsamuya]

Well, if Google has the technology then we should not assume that the government will be using it against Bitcoin. It is possible that Google can be using it against the government instead and in that case then Google can be a security threat to the country possessing such a technology that can easily fry security measures anytime. I have to admit that I don't fully understand the quantum computing technology, but I am getting interested into this. One thing for sure, the government thru a well-funded agency is also on the race to develop quantum super-computers and I think this is one area where other countries can also be involved with just like the space race. Now, having said that, it remains to be seen if what Google has can really put Bitcoin on fire...let's see what can be.

[Pab]

It is FUD
I have been reading interview with mathematician from my country
He told that any quantum computer already done or developed in near future will be not able to break bitcoin blockchain. Maybe  next 50 years that kind of computer with that kind of ability will be created but he is doubt
Bitcoin blockchain is super strong and secure .I don't  about different that bitcoin chain blockchains
Security is the biggest Bitcoin blockchain advantage

[benjamin07]

In Australia the quantum computing development is funded by a bank.

[romero121]

In Australia the quantum computing development is funded by a bank.

This means they've understood the future and acting at the present. When we talk about the quantum computer, there is no big thing to be talked. Quantum computer can do mathematical problems in three minutes of time and the same takes 10000 years with other powerful computers of the world. The only relation with bitcoin is through the private key, with this power it is possible to crack the private keys. Such a advancement can happen in next ten to fifteen years.

Another thing to break the code of bitcoin it needs 2000 qbits and what Google's quantum computer have is just 53qbits. This way there is nothing to fear on the existence of the Quantum Computer. Going through the article this is what I understood about Quantum computer which is predicted to make a crash in the market.

[pieppiep]

Now here is the trick: instead of renting a GPUs farm on nicehash or similar, why not rent a QC?

When will someone write a QCMiner?

Maybe that will be happening soon because, with QC, the computer can break the mathematical problem with fast than the current computer. It helps them work to solve the calculation. I am sure if people are rent a QC, there will be a QC Miner release from the developer. Or they will upgrade their software to be used in QC.

The technology will grow, maybe now people don't use QC. But in the future, if QC has available in many countries, I am sure that the current computer will not too popular as now. People will move into better technology, and old technology will be history.

[MetalGear]

Google’s quantum computer is allegedly more powerful than the world’s top supercomputers and the performance proves just that. The quantum computer completed a calculation in 3 minutes that would have taken IBM's Summit, the world's most powerful commercial computer, 10,000 years to complete.

https://interestingengineering.com/google-says-that-they-have-just-reached-quantum-supremacy


Quantum computers are a threat for many blockchains, including BITCOIN.

Are you guys scared? Is this the gov's hidden ace against bitcoin since they can't force people to stop using it?

More people are starting to choose cryptocurrency over using traditional currency and that, of course may affect the traditional currency, one of the reasons that people patronize it is because it is decentralized and the govenrment can't touch it. Now that the government noticed that cryptocurrency could be a threat especially bitcoin, they should make a move. If the government is really into stopping people to use bitcoin, it would be easy for them to implement it if they are going to use quantum computing. Because quantum computing is very powerful, it can touch the vulnerability of bitcoin. Quantum Computing can break the encryption used by the blockchain technology, by then the security of bitcoin will be at risk.

[Zanzibet]

Efforts in the private sphere are similarly increasing which found the number of investments in private quantum computing startups increasing over 200 percent in the past six years.A decade ago people said it would take 50 years to get where we are now with quantum computing. Five years ago, they said it would take 25 years to get where we are now. So quantum computing has this nasty habit of exceeding people’s expectations.

[mohdk52]

I do not think that bitcoin is in danger, it's too early to talk about it

[panganib999]

Google’s quantum computer is allegedly more powerful than the world’s top supercomputers and the performance proves just that. The quantum computer completed a calculation in 3 minutes that would have taken IBM's Summit, the world's most powerful commercial computer, 10,000 years to complete.

https://interestingengineering.com/google-says-that-they-have-just-reached-quantum-supremacy


Quantum computers are a threat for many blockchains, including BITCOIN.

Are you guys scared? Is this the gov's hidden ace against bitcoin since they can't force people to stop using it?

Businesses especially those who are in trading industries and involves financial transactions as their services or for their services. There are also non-financial businesses that uses and accepts bitcoin like: Microsoft, Wikipedia, Expedia and overstock which has a reputation in the industry. The government might see it as a threat to them and to their power because of cryptocurrency's and bitcoin's decentralization. Now, there are many fuz and news that is spreadung and says that quantum computers are already here and has the ability to break the decryption that blockchain has provided. And if people believe it, there's a tendency that they might creep out and abandon crypto space, and that is if enthusiasts will believe it, but they know more than that and knows that quantum computing overthrowing the existence of bitcoin and blockchain is far to happen.

[blckhawk]

I'm not that scared of this "quantum supremacy" of Google. Based on what I already read, it needs greater amounts of qubits to be able to decrypt current encryption of the blockchain. Google's quantum computer is only ~50 qubits. In addition, if scammers got hold of this piece of technology, I'm quite sure that researchers aiming to fortify current security encryption will also use this quantum computers to further future proof current encryption and make it quantum resistant.

[apoorvlathey]

The number of calculations that earlier supercomputers did, google's supercomputers are capable of performing it thousands of times faster.
It definitely proposes some risk to the bitcoin and blockchain in general because the basic building blocks of this technology is cryptography. Majority of cryptographic algorithm we use would fail against such computers.
So not only is bitcoin in danger, encryption is as well!

Some researchers have started working on supercomputer-resistant encryption algorithms. One of these emerging algorithms is related to encrypting using Lattices, which has gained greater traction.

[Mandoy]

The quantum computers is not just a threat to cryptocurrency but rather to whole financial systems in the world who are online in the internet. If google will use quantum computers and if somebody will use these system to hack into our wallets and other financial documents we have then we are doomed to loss. But this is just a conspiracy theory, that if the CIA or somebody is in the bakcground that has bad intentions then we are all doomed.

But let us stay positive, I dont think google will use those quantum computers to destroy cryptocurrency or to hack into the financial systems but to cater the overwhelming users who are using google nowadays. I believe it is just to improve their system.

[ChrisPop]

Recently I have spoken with an expert in IT who has some extensive knowledge in quantum technology and he told me that quantum computers are years or if not decades away from being actually implemented. Also I'm sure that the bitcoin foundation would propose an anti-quantum consensus that just needs to be approved by the miners' majority. So in conclusion I don't think there is any real threat for Bitcoin regarding the quantum technology.

[boltz]

Quantum computer tech is still on a early road so its there is no need to talk about Bitcoin being in danger as the tech is not completed. Lets have this conversation again in 15 years and then we can test if Quantum can hurt Bitcoin or can help Bitcoin as both scenarios can be applied. Just because Google says something doesn't mean it has to be true ...