Bitcoin and Quantum computer

[reysal446]

Hello,
Quantum computer can break all algorithm of cryptography in just a second.
So what will happen to Bitcoin algorithm?

http://hackaday.com/2015/09/29/quantum-computing-kills-encryption/

[DannyHamilton]

Hello,
Quantum computer can break all algorithm of cryptography in just a second.

Absolute nonsense.

I know Arthur C. Clark has said:
"Any sufficiently advanced technology is indistinguishable from magic"

But that doesn't mean it actually is magic.

Just because you personally don't understand quantum computing, it doesn't mean that it can instantly put an end to anything that you might imagine.

Some algorithms will become weaker.  Some won't.  If any of bitcoin's algorithms become weakened a bit, then we can switch to more quantum resistant algorithms.  If they aren't weakened, then we'll just leave them the way they are.

So what will happen to Bitcoin algorithm?

Which one?  Most of them will be just fine.  Those that aren't (if any) will be swapped out for something else.

[calkob]

yeah yeah, nada nada.  heard it all before lets make a working quantum computer first and then we will discuss this theory.......

[mkc]

Quantum computing claim that factoring can be speed up many many times. This is the base of public private key.

[NyeFe]

yeah yeah, nada nada.  heard it all before lets make a working quantum computer first and then we will discuss this theory.......

I love this! Would it just be bitcoin that would be at risk? The whole OSI layers and protocols/internet (banks/ATM/[insert name]) would be at risk. I'm sure quantum cryptographical algorithms would be created by the IETF to maintain a swift & smooth move, when the internet enters this era.

[reysal446]

http://www.bitcoinnotbombs.com/bitcoin-vs-the-nsas-quantum-computer/



and

https://www.google.com/search?q=Post-quantum_cryptography&ie=utf-8&oe=utf-8&gws_rd=cr&ei=nVhTV8jkBYmpjwS5wo3YDA#q=Post-quantum+cryptography+and+bitcoin

[Bitware]

As long as governments are pissing and moaning about encryption and trying to get it outlawed for us regular folk to use, you have nothing to worry about.

[hexafraction]

Quantum computing claim that factoring can be speed up many many times. This is the base of public private key.

Bitcoin doesn't use RSA, so factoring is unrelated. However, it is claimed that quantum computing can speed up discrete logarithm calculations to polynomial time, which may hypothetically jeopardize the EC signature aspect of Bitcoin. However, because addresses are pubkey hashes until spent, if addresses are never re-used after spent from once, and a transaction from an address moves all coins to a new address, then the pubkey is still protected by being hashed (which AFAIK doesn't have an efficient quantum-computing weakness, save for Grover's algorithm, which doesn't provide that much of a benefit).

[MingLee]

Once they actually get a quantum computer to work that isn't just "well we have he concept and the hardware, but it hasn't been able to perform X action", then I'd make finding a new algorithm a bigger priority, but for right now if they only have a few quantum computers in the world and they're in the hands of specialists, and I won't worry. Once quantum processors come out for civilian use is when it would be a bit late to find a new algorithm.

[jackg]

I was fairly confused by the idea that "quantum computers can break Bitcoin"
They are said to run algorithms faster, that could mean an increase in domestic mining and more decentralisation of the coin if adapters are put in place to change from binary to qubit (I think that is what is is known as).
They are also said to be able to therefore "crack" algoritms at greater speeds offering damage to the Bitcoin network, though this should be fixed by the current development team of Bitcoin.

[hexafraction]

I was fairly confused by the idea that "quantum computers can break Bitcoin"
They are said to run algorithms faster, that could mean an increase in domestic mining and more decentralisation of the coin if adapters are put in place to change from binary to qubit (I think that is what is is known as).
They are also said to be able to therefore "crack" algoritms at greater speeds offering damage to the Bitcoin network, though this should be fixed by the current development team of Bitcoin.

I don't think quantum computers are going to decentralize Bitcoin, especially while they are still inaccessible to the general public (due to high upfront costs, specialized equipment such as cryogenic cooling, etc). Likewise, the idea of an "adapter" between binary and qubit doesn't make sense--a qubit is a component of a quantum computer used when performing a quantum computation, storing a superposition of typically binary values, if I'm not mistaken. All that simply would be needed is a classical-computing controller that provides the inputs to the algorithm used and transfers them over some medium to the quantum processor.

[belmonty]

yeah yeah, nada nada.  heard it all before lets make a working quantum computer first and then we will discuss this theory.......

I love this! Would it just be bitcoin that would be at risk? The whole OSI layers and protocols/internet (banks/ATM/[insert name]) would be at risk. I'm sure quantum cryptographical algorithms would be created by the IETF to maintain a swift & smooth move, when the internet enters this era.

Banks rely on the same technology used by Bitcoin. If quantum computers broke Bitcoin they would also break banks with control over far bigger amounts of money than Bitcoin's market cap. They haven't developed quantum computers advanced enough to do that yet, and they are making improvements to crypto to ensure it remains reliable when advanced quantum computers are developed.

[Hazir]

First of all, we have no such tech yet. And I doubt we will see it during our lifetime. So far we have big words and researchers claiming that it will be done.
And people tends forget about 2 things:

1. Bitcoin's security was designed to be upgraded so if we will face the possibility of quantum computers threat - bitcoin security will be upgraded, no need to worry.
2. Bitcoin is not the best target for someone who would like to steal a lot of money -  primary target are financial institutions: banks, currency and stock exchanges, etc.

[shorena]

http://www.bitcoinnotbombs.com/bitcoin-vs-the-nsas-quantum-computer/



and

If the NSA succeeds in developing a cryptologically useful quantum computer, ECDSA would fall while SHA-256 and RIPEMD160 would remain secure.

Fall in this case means "be weaker" and not "can be cracked within seconds".

Bitcoiners can rest easy because SHA-256 isn’t threatened by quantum computers

Mining is not affected, as Danny already said some algorithsm can not be solved quicker with quantum computers.

https://www.google.com/search?q=Post-quantum_cryptography&ie=utf-8&oe=utf-8&gws_rd=cr&ei=nVhTV8jkBYmpjwS5wo3YDA#q=Post-quantum+cryptography+and+bitcoin

Dont refer to search results if you want answers.

[NorrisK]

When encryption cracking becomes easier, someone will figure out a way to make a new encryption method that is resistant to the new method.

In case of quantum computing, if it ever becomes viable at cracking 256-bit encryption, bitcoin can easily switch to a different encryption or multi-layered encryption method.

Quantum computing may sound scary, but there are a lot more parties with much more to lose than bitcoin. Just imagine banks and security agencies... They will never allow their systems to be cracked.

[CIYAM]

In case of quantum computing, if it ever becomes viable at cracking 256-bit encryption, bitcoin can easily switch to a different encryption or multi-layered encryption method.

You do realise that Bitcoin doesn't use encryption?

[Ayers]

Hello,
Quantum computer can break all algorithm of cryptography in just a second.

Absolute nonsense.

I know Arthur C. Clark has said:
"Any sufficiently advanced technology is indistinguishable from magic"

But that doesn't mean it actually is magic.

Just because you personally don't understand quantum computing, it doesn't mean that it can instantly put an end to anything that you might imagine.

Some algorithms will become weaker.  Some won't.  If any of bitcoin's algorithms become weakened a bit, then we can switch to more quantum resistant algorithms.  If they aren't weakened, then we'll just leave them the way they are.

So what will happen to Bitcoin algorithm?

Which one?  Most of them will be just fine.  Those that aren't (if any) will be swapped out for something else.

if bitcoin switch to a new algorithm, what will happen toall the chinese miner? also this need a hard fork right? chinese will never agree on this hard fork, they would lost millions

[Velkro]

Hello,
Quantum computer can break all algorithm of cryptography in just a second.
So what will happen to Bitcoin algorithm?

http://hackaday.com/2015/09/29/quantum-computing-kills-encryption/

Qunatum computers are like unicorns. Everyone knows they exists but noone saw them.
Simple as that , hope u understand deeper meaning.

[Traderx]

In case of quantum computing, if it ever becomes viable at cracking 256-bit encryption, bitcoin can easily switch to a different encryption or multi-layered encryption method.

You do realise that Bitcoin doesn't use encryption?

it support encryption for wallet

[NyeFe]

In case of quantum computing, if it ever becomes viable at cracking 256-bit encryption, bitcoin can easily switch to a different encryption or multi-layered encryption method.

You do realise that Bitcoin doesn't use encryption?

it support encryption for wallet

The OP is talking about obtaining private keys from the blockchain via brute force.

Adding a password or having a password free wallet has nothing to do with this topic or this context. Those are personal preferences.