Will Bitcoin survive if quantum computing is introduced

[ekoice]

I wish bitcoin not to be affected. What do you think about survival of Bitcoin?

[thejaytiesto]

From what I have read and if I have understood correctly, bitcoin is safe against a quantum computer attack and only those bitcoins in addresses that have never moved would be affected, in other words freshly mined coins sitting on newly generated addresses... or something like that. If you dont reuse addresses you should be ok.
I dont really know how it works exactly so I would like to know too.

[mobnepal]

With quantum computer what can be done is still under study and nothing can be predicted before it get into market and available to majority of public. But bitcoin is scalable and i am quite sure there will be enough development on bitcoin algorithm to stay safe even from quantum computing.

[dc1a0]

Based on the admittedly limited understanding I gained on both cryptocurrencies and quantum computers for papers I wrote for college, I believe the worst case scenario is initially bitcoin and other cryptos might take a hit in never moved and reused addresses, but after the full implications of quantum computing are understood in practice, new algorithms will be put in place to shore up security. However, I wouldn't say I have expert understanding in either, so I could be wrong.

[xIIImaL]

I wish bitcoin not to be affected. What do you think about survival of Bitcoin?

I think even Bitcoin as will become more powerful in technical wise. As of now it's not easy to break one wallet address so efforts of super computer. So I don't think quantum computing also will do some things t Bitcoin and affect it.

[Opquar]

From what I have read and if I have understood correctly, bitcoin is safe against a quantum computer attack and only those bitcoins in addresses that have never moved would be affected, in other words freshly mined coins sitting on newly generated addresses... or something like that. If you dont reuse addresses you should be ok.
I dont really know how it works exactly so I would like to know too.

Before the quantum computing is introduced, the bitcoin can change the protocol for it to be quantum computing resistant.

[bitdumper]

i dont actuly have heard the word quantam computing before but as the name says i think it means something which can handle high level of complexcoty and if thats possible then i am afraid sha encrypted codes can be cracked so bitcoin neywork will be at danger

[l8nit3]

Ok, so i have done a fair bit of reading on quatum computing (although I will not profess to understand most of it lol) and from what I understand, a 'binary' based computer only has the ability to try 1 or 0 (yes or no) at a time, hence the huge amount of time to try a wordlist one word at a time.
Whereas, quantum computing uses 'qubits' and each seperate qubit is able to see 1 and 0 at the same time (therefore trying two words in your list in parallel). In theory, with a large/unlimited number of qubits, a person could try every possible answer in parallel and receive the correct answer in seconds or less.
Now all of the current encryption algo's that I know of are built to defend against a binary computer...

So IMHO quantum computing could be a very big issue for all encryption, not only bitcoin and crypto algo's... however with the cost of quantum computing and the rediculous number of qubits required, I dont think it'll be an issue in our lifetime simply due to cost restraints.

[Meuh6879]

Bitcoin INDUSTRY will use quantum chip before all others industries ... because ... we have the money for this.

[Lauda]

Another thread of this type? Are you deliberately spamming or refusing to use the search engine? One was created yesterday, and here's my reply from it (there are useful links in case that you want to get informed on this matter, but I doubt that you do):

Why do people always ask the same questions over and over again, without even spending 5 seconds trying to search for the answers themselves? This topic was beaten to death, and here are some examples:
Quantum computer? So what! No worries...(?)
Quantum computer mining
Quantum computers and Bitcoin

Quantum Computing breaking bitcoin is a myth, nothing more.

No, actually it is not. Quantum computers could break ECSDA to being with.

[marleybobthedog]

Quantum computing us still in its initial stage it would take few more decades to get introduced with common people. And for the first time to afford a quantum computer for common people would be a dream but anyway if Quantam computing enter the world before 2030 then it might take control over bitcoin and evening of bitcoin would get destroyed.

[calkob]

IT's all i am going to say

[greatr]

I wish bitcoin not to be affected. What do you think about survival of Bitcoin?

i dont think that bitcoins will be affected and we shouldnt care too much about it in my opinion

[shinratensei_]

In a previous thread like this one already contain all of your ingredients is needed.

https://bitcointalk.org/index.php?topic=1629903.20

the toolbar search already gives me more for this.

[MyBTT]

IT's all i am going to say

This is incorrect. This information is only valid for physical data, as said, storing a bit of data in the smaller state possible - one atom.

Quantum computing however is based on quantum theory and superposition, where an atom is in two states at once, therefore storing two bits of data. That means that we can effectively reduce and replicate data processing cheaply.

[Lauda]

Quantum computing us still in its initial stage it would take few more decades to get introduced with common people. And for the first time to afford a quantum computer for common people would be a dream but anyway if Quantam computing enter the world before 2030 then it might take control over bitcoin and evening of bitcoin would get destroyed.

It doesn't need to be a commercial product to have an effect on Bitcoin (regardless of positive or negative), so your argument is a bust.

Quantum computing however is based on quantum theory and superposition, where an atom is in two states at once, therefore storing two bits of data. That means that we can effectively reduce and replicate data processing cheaply.

This was discussed before. For normal computers it is 256 bit, however quantum computers see this as 128 bits due to that change (est.). Now, the question remains whether that is enough or not. There's mention of this in this thread.

[franky1]

its also explained in laymans understandable way here:
https://bitcointalk.org/index.php?topic=1629903.msg16402345#msg16402345

the surprise is that D-wave use buzzwords like super position and 2 states at once to make it sound like science breaking tech. however its much simpler. D-wave just dont want to explain how it actually works just like the CEO of KFC doesnt want to reveal the "secret" ingredient of their chicken batter (avoid competition)