Understanding Public and Private Keys

[PilotofBTC]

I'd like to bring this topic into the light again, and ask about quantum computers as a threat to the security of cryptocurrency.
Isn't it more than likely that quantum computers, when developed sufficiently would have no problem at all discovering or cracking bitcoin private keys?
The computing power of quantum computers is awesome and will only get more awesome with development.

Couldn't they also dominate mining as well?

Theoretically, quantum computers will render all current cryptography insecure. That includes AES, RSA, SHA, SAH256, Blowfish, etc. The underpinnings of SSL, bank security and others.

Frankly, I don't think it will happen in my lifetime.

[cp1]

Sorry, that was surely really badly put. But the next time he generates a new address, he might just generate the private key that corresponds to the address where Satoshi has the most bitcoins.

I would not want to create any more confusion with these things of course...

The next time you walk outside you might be approached by an alien robot disguised as a semi-truck too.

[PilotofBTC]

Sorry, that was surely really badly put. But the next time he generates a new address, he might just generate the private key that corresponds to the address where Satoshi has the most bitcoins.

I would not want to create any more confusion with these things of course...

The next time you walk outside you might be approached by an alien robot disguised as a semi-truck too.

Ha... that's funny. Of course, you can't compare impossible to improbable.

[BigOrangeBee]

Theoretically, quantum computers will render all current cryptography insecure. That includes AES, RSA, SHA, SAH256, Blowfish, etc. The underpinnings of SSL, bank security and others.

Frankly, I don't think it will happen in my lifetime.

How can you say it won't happen in your lifetime? Google and NASA are already using quantum computers, aren't they?

[PilotofBTC]

Theoretically, quantum computers will render all current cryptography insecure. That includes AES, RSA, SHA, SAH256, Blowfish, etc. The underpinnings of SSL, bank security and others.

Frankly, I don't think it will happen in my lifetime.

How can you say it won't happen in your lifetime? Google and NASA are already using quantum computers, aren't they?

Are you referring to the D-Wave? It is far from a general usage computer. Also, very few people have agreed it actually is a quantum computer.

From what I read it is all research and theory at this time. That whole super conductor issues has to be solved first.

There might be some very very small tests that have been done. But, they have a long way to go before there are any practical uses of quantum computing.

But, still my point stands. If a quantom computers start to exist, then pretty much all crypto will have to move to them, not just crypto currency.

[BigOrangeBee]

Not to get too abstract, but there are many on this Earth who claim there is technology that exists that goes beyond anything we thought possible for this time period, whether it be alien or not, it is almost certain that there are technologies kept secret which are not revealed publicly.

I find it irritating how some people in this forum seem to think there is nothing in the world that they don't know of or haven't heard of.

[PilotofBTC]

Not to get too abstract, but there are many on this Earth who claim there is technology that exists that goes beyond anything we thought possible for this time period, whether it be alien or not, it is almost certain that there are technologies kept secret which are not revealed publicly.

I find it irritating how some people in this forum seem to think there is nothing in the world that they don't know of or haven't heard of.

"Some people" here.

BTW: I never said that. But, the scientific community is much more open and transparent now than it every was. This is because people know that sharing research helps the greater whole.

Is it possible that the NSA has built a quantum computer, sure. The real question is, is it probable?

[BigOrangeBee]

Anything possible eventually will become probable, given time.   

[DeathAndTaxes]

Theoretically, quantum computers will render all current cryptography insecure. That includes AES, RSA, SHA, SAH256, Blowfish, etc.

That is not true.  Quantum Computers need an efficient quantum algorithm.  Shor's algorithm is very effective at brute forcing public key systems (RSA, DSA, ECDSA).  They don't significantly reduce the security of symmetric (AES) cryptography or hashing algorithms (SHA-256).