2012-10-10 MSNBC - Nobel Prize Quantum Physics - The end, is it near?

[deathcode]

http://www.msnbc.msn.com/id/49339942/ns/technology_and_science-science/t/nobel-physics-prize-highlights-weird-world-quantum-optics/

Is the end of bitcoin near? or for that matter, the end of secrets?
Credit cards, encryption systems, NSA, CIA, and yes, Bitcoin... all using encryption, passwords, DES, RSA, MD5, you name it to protect the worlds secrets. Secrets that will be vulnerable if anyone comes up with a quantum computer... So... is this good news for the world? I'm sure as quentum computers emerge in the future, new encryption systems will too, but, seems like encryption systems are always playing catch up. used to be 64bit key encryption, now we are at 1024-4096... but the giant leap that Quantum Computers promise will be so huge that most of the current systems will be compromised for a while.
Any opinions? I'm not an SME in the sybject, but I certainly encourage crypthographers to join the conversation.

[Severian]

A quantum computer would also mean the eventual possibility of a quantum crypto currency. That would be quite a thing.

[kiba]

A quantum computer would also mean the eventual possibility of a quantum crypto currency. That would be quite a thing.

Quabitcoin?

[Severian]

Quabitcoin?

1 qtc = 10000 btc.

[luffy]

equilibrium is the name. quantum computers will help cracking as much as cryptography! the "war" continues!

[Foxpup]

Quantum computers are not magical, and their capabilities are well understood. Only certain kinds of public-key cryptography (such as ECDSA as used in Bitcoin) are threatened by quantum computing, however quantum-proof public-key algorithms already exist and Bitcoin could switch over to one of them should the need arise (the only reason they're not being used right now is because they're nowhere near as well-tested as conventional algorithms and so may have other flaws). Symmetric algorithms (such as AES) and hashing algorithms (such as SHA256) are not threatened by quantum computing, and current algorithms will be safe forever unless a flaw is found in the algorithm.

[Gabi]

This thread is so much FUD 

[justusranvier]

Cryptography is about math, not CPU hardware. Quantum computers don't change the laws of physics and there are mathematical problems that will be never be solved by any type of computer as long as it's made of matter, occupies space, and consumes energy.

Certain types of algorithms might be made obsolete by working quantum computers but that's not the end of cryptography itself.