[2015-10-06] Quantum Computing Draws Closer; Danger for Bitcoin?

[tyz]

A team of engineers from the University of New South Wales has developed a device that allows two quantum bits, known as qubits, to communicate with one another, this brings the world one step closer to quantum computing.

http://bitcoinist.net/quantum-computing-draws-closer-danger-bitcoin/

[1715518301]

1715518301

[TraderTimm]

2 Qbits do not a quantum computer make. Its at the same level as we were in the 1940's during the early development of the transistor. It took a considerable amount of time before these crude attempts could do anything sophisticated. There's still some time, but then again, there are crypto algorithms that exist that aren't quantum-crackable anyway.... so worst case we soft/hard fork and be done with it.

[gentlemand]

There'll be plenty more to worry about. Every type of security'll go down the shitter.

[maku]

The thing is: if we will break ice and really obtain working quantum computers, there will be only couple companies able to produce this tech.
These will be the biggest IT companies on the market, normal people won't have access to it. There is nothing to worry about.

[PolarPoint]

Quantum computing could be used to reduce the difficulty of hashing by around 1/5th (Quantum computing reduces the number of bits needed for computations due to the fact that a qubit can assume a state of both zero and one at the same time.)

I was worried that one day this powerful quantum computer can hack private keys in seconds. According the text, quantum computing can reduce difficulty by only a fifth. So when they can actually build a usable quantum computer, security is at risk, not totally ineffective.

[Slark]

Quantum computing could be used to reduce the difficulty of hashing by around 1/5th (Quantum computing reduces the number of bits needed for computations due to the fact that a qubit can assume a state of both zero and one at the same time.)

I was worried that one day this powerful quantum computer can hack private keys in seconds. According the text, quantum computing can reduce difficulty by only a fifth. So when they can actually build a usable quantum computer, security is at risk, not totally ineffective.

Quantum Computing is not exactly upgrade over normal technology, people don't understand that quantum technology is not giant leap forward and our processing power will be over 9000 all of a sudden. The problem with quantum computing is that result of the calculations of quantum based compter is not 100% correct all the time, and therefore quantum computer is not the best tool to crack passwords and encryptions.