Quantum computing destroying bitcoin, dwavesys.com

[rcmp]

Hello, #1 the nsa can easily manipulate the value of bitcoin as they made sha-128, and have super computers that can out race the hash algarythoms.

#2 with a quantum computer, (if you don't know what they are here is a link http://www.dwavesys.com/tutorials/background-reading-series/quantum-computing-primer )

it would be very fucking easy to solve mass amounts of chain blocks at a rate that the "currency" would lose all value, as either the system will crash, it would become unminable, or the owner of the quantum computer would earn so many bitcoins it would deflate the value to nothing.

bitcoin is only just fucking numbers anyway. a fucking primer to try and make people believe in a financial system that has no physical tender, so they can eliminate money to control and monitor everyone.......

http://rcmp.co - check out this site, fuck the government.

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[OmegaStarScream]

We are far away from those Quantum computers and I don't see anything to be worried about , the difficultly should adjust itself when It comes to mining as for the public and private keys then It has been discussed several times:

1. http://bitcoin.stackexchange.com/questions/6062/what-effects-would-a-scalable-quantum-computer-have-on-bitcoin
2. http://www.newsbtc.com/2016/10/16/will-quantum-computers-spell-doom-bitcoin/

Overall , solutions could be implemented over the years and BTC dying could be the least of our problems when those computers comes out.

[ranochigo]

Hello, #1 the nsa can easily manipulate the value of bitcoin as they made sha-128, and have super computers that can out race the hash algarythoms.

NSA made SHA256 too. There's a reason why Bitcoin uses it, because it is relatively safe.

#2 with a quantum computer, (if you don't know what they are here is a link http://www.dwavesys.com/tutorials/background-reading-series/quantum-computing-primer )

it would be very fucking easy to solve mass amounts of chain blocks at a rate that the "currency" would lose all value, as either the system will crash, it would become unminable, or the owner of the quantum computer would earn so many bitcoins it would deflate the value to nothing.

There are no proof that quantum computers are super powerful at calculating SHA256 hashes so it wouldn't be likely that they would be better than ASICs. ECDSA will be broken however, but it isn't viable as of now.

Just to address the problem of solving mass amount of blocks at a super fast rate. Bitcoin automatically adjusts the difficulty; the faster you solve the blocks, the harder it is to solve the blocks in the future. You should be worrying about 51% attack instead of them ruining the market.

[mobnepal]

Quantum computer can't be threat to bitcoin and i don't think we will see any working quantum computer by next few decades so nothing to worry about right now.

bitcoin is only just fucking numbers anyway. a fucking primer to try and make people believe in a financial system that has no physical tender, so they can eliminate money to control and monitor everyone.......

It is true that there is no any physical assets backing bitcoin but atleast bitcoin supply is not manipulated like most of the fiat by governments. What is backing the numbers you have in your banks?

[ljudotina]

Im worried about quantum computers just as im worried of kilngons teleporting me to their battleshit....not gonna happen anytime soon, and even when it does happen, there are mechanics that would mitigate it. Quantum computers are no "silver bullet" for bitcoin.

[Lauda]

Hello, #1 the nsa can easily manipulate the value of bitcoin as they made sha-128, and have super computers that can out race the hash algarythoms.

No, they can't. It looks like someone isn't familiar with cryptography. Why are you making baseless statements here?

#2 with a quantum computer, (if you don't know what they are here is a link http://www.dwavesys.com/tutorials/background-reading-series/quantum-computing-primer )

it would be very fucking easy to solve mass amounts of chain blocks at a rate that the "currency" would lose all value, as either the system will crash, it would become unminable, or the owner of the quantum computer would earn so many bitcoins it would deflate the value to nothing.

Wrong. Hashrate jump -> difficulty adjust -> everything is normal. Besides, Quantum computing is likely not going to be optimal for mining, and development in that area has a very long way to go. The claims by dwavesys are mostly exaggerated. You don't even need cryptographers to tell you this, physicists are enough.

bitcoin is only just fucking numbers anyway. a fucking primer to try and make people believe in a financial system that has no physical tender, so they can eliminate money to control and monitor everyone.......

No. Stop spreading bullshit.

Quantum computers are no "silver bullet" for bitcoin.

The *only* (known) problem is ECDSA, but that can be changed via a fork into a quantum-proof algorithm.

[franky1]

as others have said

SHA is more of a binary logic problem so D-waves non binary methodology wont be efficient at solving binary problems due to that, as it will have limitations on d-waves abilities, so only expect a 2x-4 efficiency gain if trying to brute force SHA
bitcoin ASICS have already defended against this by becoming several hundred thousand times more efficient than a 'generic' binary based cpu.. on a unit vs unit measure.. so a d-wave 'generic' cpu has already lost.
d-wave would not only need to make a d-wave chip specific to solving SHA(SHA ASIC) just to compete, but also require atleast 190,000 d-wave asics just to match/outperform bitcoin asics. (imagining that a single d-wave asic had same scale as binary ASIC hashing rate)
D-wave currently only have one or a few sub modern CPU rate systems.(imagine it like they are comparable to the 1960's right now)

ECDSA is more of a vector logic problem not binary, which binary systems dont handle as fast, so because d-wave methodology is not binary it will be more efficient at solving it to a tune of a few thousand fold. so expect ECDSA to be the target where some malicious person 'could' use d-wave to mess with

what will probably change is bitcoin keys will in the future not all be fixed to using the same y2 = x3 + 7 'ecc' curve, where the public/private then determines (in real numbers) the Fibonacci curve within the 'ecc' curve. thus add an extra element to indicate a unique ecc curve per public/private key. thus adding an extra and deeper scale of entropy to have a more secure/unique fibbonacci curve for the keys

however d-wave have a long way to go. although their 'machine' looks like a large datacentre server, the processing power is like the processing power of them clunky datacenter size units used in the 1960's.

dwave has a long way to go to downsize it to modern desktop/laptop sized cpu's to be ready for home use

[Xester]

Actually this topic has already been asked before but for those who have not read my comments there you are free to read.

Of course quantum computers can have negative impacts on bitcoin. The one creating that quantum computers are the Central Intelligence unit of America. It's purpose is to spy on the web, it can gather and process multiple data's at the same time.

If it will be used against cryptocurrencies all transactions will no longer be secret and possibly may really destroy bitcoins.

[RodeoX]

I suggest that the OP:

A. Go back to school and learn about cryptography.
or
B. Stop using bitcoin as it is something he does not understand.

Thanks OP, but we don't need your help. We got this. 

[franky1]

Actually this topic has already been asked before but for those who have not read my comments there you are free to read.

Of course quantum computers can have negative impacts on bitcoin. The one creating that quantum computers are the Central Intelligence unit of America. It's purpose is to spy on the web, it can gather and process multiple data's at the same time.

If it will be used against cryptocurrencies all transactions will no longer be secret and possibly may really destroy bitcoins.

IF the CIA already had a backdoor then D-wave is a futile worry because the door would have already been open decade(s) ago.
so no point using CIA as a reason to think D-wave is a big threat right this second.

[Velkro]

We are far away from those Quantum computers and I don't see anything to be worried about , the difficultly should adjust itself when It comes to mining as for the public and private keys then It has been discussed several times:
Overall , solutions could be implemented over the years and BTC dying could be the least of our problems when those computers comes out.

Yep. Bitcoin is VERY resilent. It can adjust quickly to any danger out there.
So im not worried about quantum computing, its far far away future or NSA tricks, because it can be easily manipulated still by banks.

[BitcoinBarrel]

Quantum Computers are a Sci-Fi fantasy and do not exist.

[AgentofCoin]

Quantum Computers are a Sci-Fi fantasy and do not exist.

It is always prudent to anticipate technological advancements many years or even decades
prior to their public disclosure. Usually, certain industries are secretly contracted to create
such systems with millions/billions in non-government approved money, that are usually
only revealed to exist and allowed for the average citizen to use/see when they already
have it's more advanced replacement.

When the "Universities" have started their "experiments", it is usually around the corner.

I would not be surprised if in 30 years, the public is made aware that the quantum computer
was near perfected in 2004 and have been working nonstop successfully undetected.

I'm not spreading FUD, just advising the sometimes human advancements are way
ahead then the public is allowed to believe.

Ultimately, as others have said already, Bitcoin can and will adapt to it.

[U2]

I suggest that the OP:

A. Go back to school and learn about cryptography.
or
B. Stop using bitcoin as it is something he does not understand.

Thanks OP, but we don't need your help. We got this. 

Hahahahaha nicely done mate. This conversation comes up every couple of weeks. There are lots of ways to avoid quantum computers but @op you just wouldn't get it!! Neither would I but at least I don't try to make shit up.

[prophetx]

Quantum Computers are a Sci-Fi fantasy and do not exist.

It is always prudent to anticipate technological advancements many years or even decades
prior to their public disclosure. Usually, certain industries are secretly contracted to create
such systems with millions/billions in non-government approved money, that are usually
only revealed to exist and allowed for the average citizen to use/see when they already
have it's more advanced replacement.

When the "Universities" have started their "experiments", it is usually around the corner.

I would not be surprised if in 30 years, the public is made aware that the quantum computer
was near perfected in 2004 and have been working nonstop successfully undetected.

I'm not spreading FUD, just advising the sometimes human advancements are way
ahead then the public is allowed to believe.

Ultimately, as others have said already, Bitcoin can and will adapt to it.

30 years is stretching it, but let's say some organizations get their toys before others

[franky1]

Quantum Computers are a Sci-Fi fantasy and do not exist.

d-wave is real.. but the "quantum" sci fi story promotion is exaggerated

if you peal away the science fiction and look at the reality. all it simply means is instead of 0volt=no 1volt=yes binary.. they are now instead of having an on off yes no 2 choice.. their "switch" is a dimmer switch. EG 0.33v =third option 0.66v=fourth choice

thats it in a nutshell..

instead of yes and no. they have a third and fourth option. and now lots of people are thinking how to use this.

its called a wave because instead of binary which on an oscilator looks like steps/platforms. by having a gradient in between its more of a wave shape
0 1 2 3 2 1 0
instead of
0      1      0
EG
8 digit binary(2 settings)
0-256 options

8 digit dwave(4 settings)
0-65536 options

this can be useful where binary or hex logic can be improved 2 fold.
0000-3333 translates to 2 binary bytes(00000000-11111111)
00-33-00-33 translates to 4 hex (0-F-0-F)

so as i said before d-wave only handles binary logic problems 2x fold

but things like vectors and other non direct binary... going from 256 possibilities to 65536 possibilities opens more oppertunities.

yea the d-wave CEO goes a little overboard in the sci-fi department. but i think that is more business magic to hide thier secret sauce to not get competitors while they are still experimenting

[OROBTC]

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RodeoX, franky1, others

Your explanations match my general understanding as well.  Some types of 'math' problems are not amenable to quantum computing attack.

And the latest I read on quantum computers themselves (my info may be out of date, but probably NOT by orders of magnitude) are that they can only manipulate 8 bits at a time (ah, sorry no reference handy).

AGREE with above comments that we have a nice long time to play w/ BTC until it breaks.  And by then, future developers will (probably!) have beefed-up the Bitcoin Ecosystem to make it more resilient.  Else, there may be other Alts that become popular, also complicating the task.