quantum computer is here. and now?

[errornone]

what is the future of bitcoin with quantum computers?


https://www.youtube.com/watch?v=-kTDmsNumVE

[Velkro]

what is the future of bitcoin with quantum computers?


https://www.youtube.com/watch?v=-kTDmsNumVE

Quantum computers are such abstract, that you can't predict anything. Many said they developed quantum computer before, noone did in reality.
Cryptography will be more vulnerable and with it bitcoin but its same stuff like cold fusion, 30 years of development, nothing in sight in next 30 years.

[Amph]

i would be worried more about the chances of bitcoin to survive, before the quantum pc will ever hit the market on a large scale

[errornone]

i would be worried more about the chances of bitcoin to survive, before the quantum pc will ever hit the market on a large scale

it doesn't need to hit the market on large scale...

[Amph]

i would be worried more about the chances of bitcoin to survive, before the quantum pc will ever hit the market on a large scale

it doesn't need to hit the market on large scale...

right now bitcoin with its silly marketcap would not be a primarily target of hidden quantum computer, other big targets would be in the list before bitcoin

[Hugroll]

quantum computers aren't technically here yet. its just a logic board. but if they were, i wouldn't expect them to be used to crack private keys, that would be using wayy to many resources just to crack a bit of a cryptocurrency. highly inefficient.

[BTCBinary]

Can this mean that within some years not even the Blockchain security technology can protect us for Hackers?

[thejaytiesto]

Not at all. The feats of quantum computing in the current day and age are far from being threatening and have no competition against the best computers we have now. It will take ages for a quantum computing to do anything that can be considered threatened to current day technology, so don't worry about that.

[errornone]

i think you people didn't watch the video or didn't read the news.

QUANTUM COMPUTER IS HERE. IT IS NOT A TECHNOLOGY FROM FUTURE. IT IS HAPPENING, IT IS HERE.


And yes, bitcoin is a target. YES IT IS. It has too much value right now.

And 'they' only need ONE (yes just one) quantum computer to destroy bitcoin completely. Not mass production, BUT JUST ONE!

[n2004al]

what is the future of bitcoin with quantum computers?
https://www.youtube.com/watch?v=-kTDmsNumVE

The creation of an quantum computers is a huge step ahead in the computing science. It will be a big materialization which will help the human being in to many areas. I am not a scientist or a specialist in this field but I already read some things in Wikipedia about it. The news which are in the youtube video are not yet there. And I cannot understand the spoken English to hear it. But I think that if bitcoin is in risk with this computer the developers certainly will find a way to protect it from this kind of computer. Bitcoin cannot have such end.

In expectancy of this development here is an article which give an idea (solution) about how to protect bitcoin from such computer. This solution is named Lamport signature.

The article about the solution can be found here: https://bitcoinmagazine.com/articles/bitcoin-is-not-quantum-safe-and-how-we-can-fix-1375242150

While who want to know more about Lamport signature can read here: https://en.wikipedia.org/wiki/Lamport_signature

Don't have fear. Have faith and hope. This must think every bitcoiner.

[Hugroll]

i think you people didn't watch the video or didn't read the news.

QUANTUM COMPUTER IS HERE. IT IS NOT A TECHNOLOGY FROM FUTURE. IT IS HAPPENING, IT IS HERE.


And yes, bitcoin is a target. YES IT IS. It has too much value right now.

And 'they' only need ONE (yes just one) quantum computer to destroy bitcoin completely. Not mass production, BUT JUST ONE!

noo.... they havent made one yet. in the video he says they made a logic board with only two qubits. its going to take alot more than that to destroy bitcoin.

[Amph]

i think you people didn't watch the video or didn't read the news.

QUANTUM COMPUTER IS HERE. IT IS NOT A TECHNOLOGY FROM FUTURE. IT IS HAPPENING, IT IS HERE.


And yes, bitcoin is a target. YES IT IS. It has too much value right now.

And 'they' only need ONE (yes just one) quantum computer to destroy bitcoin completely. Not mass production, BUT JUST ONE!

they can only broke ecdsa, if you send bitcoin and not receive only, to not reveal the public key if not mistaken

sha256 is immune

[Lauda]

Two problems:
1) Quantum computers are not here. Even if they were, in this stage it is pretty much useless.
2) Still can't break SHA256.
The researchers have worked out how to design using this method from 2 qubits to hundreds and 'potentially millions'. This does not mean that they've done it.

[Denker]

i think you people didn't watch the video or didn't read the news.

QUANTUM COMPUTER IS HERE. IT IS NOT A TECHNOLOGY FROM FUTURE. IT IS HAPPENING, IT IS HERE.


And yes, bitcoin is a target. YES IT IS. It has too much value right now.

And 'they' only need ONE (yes just one) quantum computer to destroy bitcoin completely. Not mass production, BUT JUST ONE!

noo.... they havent made one yet. in the video he says they made a logic board with only two qubits. its going to take alot more than that to destroy bitcoin.

This!
Furthermore OP is just panicking and FUDing. And not long ago we had a similar thread with the same link and almost the same discussion.
Thread can be closed.Nothing, really nothing to see here.

[lite]

i think you people didn't watch the video or didn't read the news.

QUANTUM COMPUTER IS HERE. IT IS NOT A TECHNOLOGY FROM FUTURE. IT IS HAPPENING, IT IS HERE.


And yes, bitcoin is a target. YES IT IS. It has too much value right now.

And 'they' only need ONE (yes just one) quantum computer to destroy bitcoin completely. Not mass production, BUT JUST ONE!

Destroy Bitcoin? that won't happen lol.. there will be a fix ready!

[mr angry]

Almost all quantum computer research is conducted by Universities. Those same Universities have frequently thrown students out who were caught using their computing resources for mining Dogecoins, or Bitcoins. If a research group eventually invents a quantum computer that can break Bitcoin their University rules won't permit them to use it to actually break Bitcoin. Any of the researchers would also face prosecution for leaking the technology to someone else prepared to use it to break Bitcoin. Whatever a group of researchers invents while working for a University remains the property of the University, not the researchers.

[Liquid71]

The entire internet, every computer connected to the internet, every network including all fiat banking would all be vulnerable to a true quantum computer breaking encryption. So yeah if the internet dies then I guess Bitcoin will be in trouble 

[mr angry]

The entire internet, every computer connected to the internet, every network including all fiat banking would all be vulnerable to a true quantum computer breaking encryption. So yeah if the internet dies then I guess Bitcoin will be in trouble  

Agreed, I think about a trillion dollars a day gets traded through the FOREX markets, so targeting the bank transfers between the banks and those markets would be more lucrative than targeting Bitcoin. There was a big panic when a way to hack SSL certificates was discovered, but the whole internet relies on them, not only Bitcoin. There was more panic about banks being targeted than Bitcoin until the vulnerability was patched.

[Amph]

The entire internet, every computer connected to the internet, every network including all fiat banking would all be vulnerable to a true quantum computer breaking encryption. So yeah if the internet dies then I guess Bitcoin will be in trouble 

this is why bitcoin won't be the first target at all, there are many more valuable secured things, to break first, if this thing will ever work

[Blawpaw]

what is the future of bitcoin with quantum computers?


https://www.youtube.com/watch?v=-kTDmsNumVE

From my understanding, these quantum computers will mainly be used for medical research. Though it can be used to crack codes I think it will have no influence whatsoever in bitcoin.