Is Google supercomputer a threat?

[TheSecretOfShadow]

Hello guys,

I was reading my daily news when I saw this:
http://www.telegraph.co.uk/technology/news/12042781/Google-D-Wave-quantum-computer-is-100-million-times-faster-than-your-PC.html

If you don't want to open this link, the title is: "Google’s new quantum computer is '100 million times faster than your PC". They also say "It can answer certain algorithms in seconds rather than years". 

I'm kind of worried, but I don't know if I should be, what you guys think about this? I don't mine but this could affect me somehow if Google decide to use it to mine Bitcoins 
(any language mistakes? Sorry for that, english is not my native language).

[achow101]

Quantum computers only advantage against traditional computers with Bitcoin is that it can factor prime numbers much faster. This makes it faster at finding the private key to a known public key. I don't know how much faster, but I do not think it will be able to find the private key in less than 10 minutes. QC's are not significantly faster than classical computers when it comes to hashing.

Even so, there are built in mechanisms in Bitcoin which mitigate the effects of a QC. If you are using bitcoin addresses are they are supposed to be (without reuse) then you will mostly be fine. If the addresses are have 1 funding transaction and the second transaction is moving all of the funds out to another address, then it is safe because there will be nothing for the attackers to steal. This is because they will only know the public key after you send the second transaction, at which point there should be no funds left in that address. They can only get a private key if the public key is known.

The other aspect is with mining, and QCs are not known to have any significant advantage with hashing than classical computers. Even if they did, then when the difficulty adjusts, then the attacker would not be able to produce blocks faster than everyone else, they would still come out on average every 10 minutes.

[keepdoing]

Well, yes.  It should concern you.  But not so much in the context of bitcoins.  Seriously?  You are concerned how it might impact your bitcoins?

They are building a global neural computer network for g-d's sake.  Trying to breathe life into an AI that once awake will instantaneously access and control everything. 

Should it concern you.  Sheeesh.  How stupid are you people?

[TERA]

[keepdoing]

OMG Please Stop!  LOL

Those damn things freak me out.  I mean seriously.... You can see why its going to be called the beast.  Even if it currently is like a little baby, it's dreams are already like nightmares.

[WENGER]

I really don't see why it would be a threat if Google decides to use it for mining bitcoins. If it could mine bitcoin at higher hashing power than is already out there then so be it, No harm on that on this case unless I'm missing something so I think you should STOP worrying about this so called Quantum Computer.

[chennan]

I really don't see why it would be a threat if Google decides to use it for mining bitcoins. If it could mine bitcoin at higher hashing power than is already out there then so be it, No harm on that on this case unless I'm missing something so I think you should STOP worrying about this so called Quantum Computer.

Well, theoretically if this were to happen you have a couple things that would happen:

Bitcoin will most certainly become way more secure if they put all their power toward hashing bitcoins. But then, Bitcoin mining would be so centralized, that it's pretty much pointless for other miners to remain in/or start trying to mine with so much of bitcoins hash rate is done by Google alone. I don't know much about QC's, but it's a scary/exciting thing to think about.

[~Bitcoin~]

If bitcoin mining become centralized when google start mining bitcoin with their so called quantum computer and bitcoin will loss its charm. Its value may get manupulated by google and also supply of bitcoin may get exhausted after some months.

[chennan]

If bitcoin mining become centralized when google start mining bitcoin with their so called quantum computer and bitcoin will loss its charm. Its value may get manupulated by google and also supply of bitcoin may get exhausted after some months.

Well, simply put, even if Google started hashing the shit out of Bitcoin to become the single leader of total hash power being put into Bitcoin, it won't exhaust Bitcoin supplies. There can only be so many blocks over time, so therefore theoretically, Google can only hash what blocks are available.

I just don't know about all this speculation though... Google is just now starting up "Google pay" or something of the sort, so they might see Bitcoin as a threat/competition.

[Kprawn]

These computers are normally purpose built for some kind of project. The cost involved with this, would most definitely not justify it being used for Bitcoin mining. The company would

much rather use it, to support their other core businesses. Data mining and information management would be a better application and for research and development. And it was done

before, and the results was very poor for Bitcoin mining. https://bitcoinmagazine.com/articles/government-bans-professor-mining-bitcoin-supercomputer-1402002877

I quote : “In a day, Sequoia could mine about 40 dollars worth of bitcoin, but it consumes about the same amount of electricity as 4,000 homes: 8 megawatts. They would pay more money in electricity costs each day than they would earn.”

 

[btckold24]

calm down lol. This will be doing something much more important
im sure than bitcoin mining.

[NorrisK]

If bitcoin mining become centralized when google start mining bitcoin with their so called quantum computer and bitcoin will loss its charm. Its value may get manupulated by google and also supply of bitcoin may get exhausted after some months.

Them mining on the supercomputer is not the main thread of these computers. It is their potential ability to bruteforce private keys at a speed much higher than current computers (millions of times faster).

What I understood though, is that the speed of this computer is severly limited to several applications, not including brute forcing bitcoin keys.

[Soros Shorts]

A single AntMiner S7 ASIC miner is already 100,000 times faster than my desktop PC in mining bitcoins.

So 1,000 S7s is all it takes to match this supercomputer in mining speed.  Many large farms already have that kind of hash power. Nothing new to worry about.

[jacktheking]

Not much of a threat. If one really come up with a super powerful computer that can not only process data quickly but mine Bitcoin too, the developer of Bitcoin Core will do something. Even if they dont, the difficulty will increase to match the mining power.

[n2004al]

Hello guys,

I was reading my daily news when I saw this:
http://www.telegraph.co.uk/technology/news/12042781/Google-D-Wave-quantum-computer-is-100-million-times-faster-than-your-PC.html

If you don't want to open this link, the title is: "Google’s new quantum computer is '100 million times faster than your PC". They also say "It can answer certain algorithms in seconds rather than years".  

I'm kind of worried, but I don't know if I should be, what you guys think about this? I don't mine but this could affect me somehow if Google decide to use it to mine Bitcoins  
(any language mistakes? Sorry for that, english is not my native language).

Everything can be possible but I think that the owners of google have no need to mine. They have mountains of money and don't know what to do with those. They have already even a world class business which is the first ranked in its field. At the end I cannot believe that they can do something that can make bad to bitcoin and to its community. Have no reasons to do this. The power they will gain if will mine bitcoin (if decide to mine with this kind of computer) will give them nothing that them have not already. Or that cannot buy already. So, I don't see any threat of the Google computer for bitcoin.

[TastyChillySauce00]

i dont mind google would do anything to bitcoin since they didn't even accept bitcoin in their services and probably google building quantum pc for mining purpose , i have a positive thinking by the way

[Amph]

no the only real threat for bitcoin, is the value of it, if the value does not reach a certain threshold, miners will leave and bitcoin will inevitable be uselesses and die

there is no other threat, said this, there are some things to change when quantum kick-in, because ecdsa will be vulnerable

[Bitcoinpro]

Hello guys,

I was reading my daily news when I saw this:
http://www.telegraph.co.uk/technology/news/12042781/Google-D-Wave-quantum-computer-is-100-million-times-faster-than-your-PC.html

If you don't want to open this link, the title is: "Google’s new quantum computer is '100 million times faster than your PC". They also say "It can answer certain algorithms in seconds rather than years". 

I'm kind of worried, but I don't know if I should be, what you guys think about this? I don't mine but this could affect me somehow if Google decide to use it to mine Bitcoins 
(any language mistakes? Sorry for that, english is not my native language).

that story  is fake

please do not let predictions of ponzi scams n pyramid schemes distract u

[bitcreditscc]

a threat can be defined as a new method or tech that can produce magnitudes greater hash @ a fraction of the cost.

eg 1 PH/s @ < $100 cost.

[Bitcoinpro]

well timed post,, its quantum doge

much wow

so quantum