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Author Topic: Will quantum computing kill crypto?  (Read 8904 times)
GetFreeCoins
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August 01, 2017, 02:41:14 PM
 #61

time will tell. Over time, everything will change, you can not talk now, we do not know the technology of the future.
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August 01, 2017, 03:27:18 PM
 #62

It will first kill all the current encryption algorithms safeguarding e-commerce and banks.

So quantum-proof new algorithms will be developed. It's pretty easy for Bitcoin to hardfork to a new algorithm, and this wouldn't be a controversial hardfork.

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August 02, 2017, 05:28:02 PM
 #63

The next project to be aware of must be teleportation,
When quantum computers are active a new problem with hit the lights.

You would be able to observe things that you could not even begin to imagine observing or altering  by mechanical manipulation.

It's to early to say Bitcoin would be safe.


  I think as these technologies develop, so too will crypto. People will figure out ways to prevent hacks due to quantum computing/teleportation, etc. The real thing that threatens cryptocurrency adoption are governments.
  See, if governments decide they do not want crypto to exist, they will simply block the major exchanges and Bitcoin-related sites and before you know it all your hopes of Bitcoin becoming mainstream will vanish.



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yinoye
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August 02, 2017, 09:49:36 PM
 #64

See, if governments decide they do not want crypto to exist, they will simply block the major exchanges and Bitcoin-related sites and before you know it all your hopes of Bitcoin becoming mainstream will vanish.

Hmm let us hope this will never happen
xJuturna
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August 07, 2017, 09:44:07 PM
 #65

Quantum computing has the ability to make any encryption obsolete and unusable. It poses a massive threat the cryptocurrency and any sort of protection in any way online. We are pretty far from this being a reality luckily so soak it in and buy low sell high now while you can. If you guys thought you'd seen a dump on the exchanges wait til you see the dump that comes once quantum computing is more of a reality.... Embarrassed
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August 07, 2017, 10:01:30 PM
 #66

Quote
Conspiracy theories have been proposed that NSA or CIA have access to much powerful QC tech than what is publicly disclosed, while it is disputable and controversial and one can ask that how far they can go, anyhow, in practice, they can't  use their hypothetical "super power" against bitcoin even once, because by doing this, they will disclose their access to such a technology and escalate competition and research for countermeasures.

Wow, this almost makes me want it to happen Cheesy lol!


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August 07, 2017, 11:09:35 PM
 #67

General purpose QC are working in the range of 1-4 qubits.
So definitely no.

Even in the future when we figured out everything regarding QC there is already post quantum cryptography.
So double no.

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August 08, 2017, 02:25:13 AM
 #68

But this information is for the first time of our life and we will all be together with the arrival of pure enthusiasm is considered to be the second edition of pure spirit.
bitKaBoom
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August 08, 2017, 01:11:02 PM
 #69

I believe that eventually it will happen. Quantum computers are no longer fiction
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August 08, 2017, 03:11:38 PM
 #70

I believe that eventually it will happen. Quantum computers are no longer fiction

Will they be practical is another question. One analogy is a car that runs on water. It is no longer fiction for a long time now...But is it a good idea? No. Electric cars are. I say this because apparently Quantum Computing cannot do what traditional computers can do.

In any case, like everyone has been saying ,we have post-quantum cryptography.

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August 08, 2017, 07:00:50 PM
 #71

With the steps forward that quantum computing is making will it mean the end of crypto as we know it once quantum computing become a reality?

I mean it effectivly makes encryption useless, someone with a quantum computer could just brute force a private key from a public key in no time. This will kill every crypto currently out there.

Do you think we will see new quantum cryptos released once the technology is ready? Or do you think Bitcoin will adopt a new layer of quantum security if that is even possible?

I'm by no means an expert on the subject but unless the good guys get their hands on some form of quantum computer before the bad guys it kind of puts a ticking timer on the whole crypto industry. That's if an extra layer of quantum encryption can even be implemented in some way for Bitcoin.

If not, then I guess we better time it just right and get the f**k outta here at the right time.

Thoughts?

All crypto without quantum resistance will be rendered obsolete, if it isn't already. The US had stealth fighters years before it was public if that is taken into consideration then one can assume crypto is already vulnerable to quantum computing.
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August 08, 2017, 07:20:49 PM
 #72

Quantum computing is still in its starting phase. It will still need couple of decades to become a threat to cryptocurrencies. I read it somewhere that at present quantum computing is focused upon only energy landscape issues and not on solving regular mathematical problems. We need a major revolution in our ability to build reliable qubit logic before we can even think about solving complex cryptography and that problem is nowhere near being solved at the moment.

Sure I get that but just look at where there internet has gone in the last 20 years. I'm sure if you went back in time 20 years today's reality would have been thought of as impossible. Technology moves at such a great rate that it would be hard to predict 5 years into the future let alone another 20.



I agree with that and it could become a great threat if it would once be possible to break the keys! What is a solving for this? Have the private key be 200 characters?

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August 08, 2017, 10:29:42 PM
 #73

https://soundcloud.com/proofofbeats/quantum-badger

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https://soundcloud.com/proofofbeats/whonakamoto
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September 27, 2017, 07:09:57 PM
 #74

Quantum Computing will kill Crypto but it's not just because of security issues. It will kill Crypto because the very purpose of Crypto currency is to distribute processing. The virtually unlimited processing speed of a Quantum Computer will render distributed processing unnecessary.
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September 27, 2017, 07:50:05 PM
 #75

Not a chance in the near term.  There are already protocols in place to protect from this type of intrusion. I would assume by the time Quantum computing is available to the masses there will be an equal countermeasure already in place across the crypto industry.

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October 04, 2017, 03:38:58 PM
 #76

Quantum computing may be detrimental to Bitcoins unless individuals never spend bitcoins and just receive funds with an address for them to be safe since the hashing process protects the public-key used to create the address. At that point the funds may be at risk of attacks by new quantum computers.
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October 04, 2017, 05:41:15 PM
 #77

Quantum computing has the ability to make any encryption obsolete and unusable. It poses a massive threat the cryptocurrency and any sort of protection in any way online. We are pretty far from this being a reality luckily so soak it in and buy low sell high now while you can. If you guys thought you'd seen a dump on the exchanges wait til you see the dump that comes once quantum computing is more of a reality.... Embarrassed
About quantum computers - the methods of data encryption forge ahead, there are already cryptographic standards that are able to protect crypto-currencies from quantum computers... it is only the matter of time when they will be included into the protocol of the corresponding systems. Let us hope that developers won’t delay this and our crypto-wallets will be protected, when the quantum technic with huge calculating power appears  Wink
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October 04, 2017, 06:25:12 PM
 #78

There are quantum resistant cryptographic algorithms. Blockchain protocols will be upgraded when necessary.
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October 04, 2017, 07:13:52 PM
 #79

There are quantum resistant cryptographic algorithms. Blockchain protocols will be upgraded when necessary.
How can you know when is the time to "upgrade" protocols?

If such a quantum machine will ever be build, it will be a BIG secret for many many years, if not decades.
The greatest advantage of owning a machine capable of breaking crypto comes from no-one else knowing about it. So that everyone is using crypto, that they can break.

If it was public, it would soon be of no use.

Just look what happened with Enigma. After the war England even recommended some countries to use it, because it was unbreakable...  Grin
   

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October 05, 2017, 02:19:47 AM
 #80

With the steps forward that quantum computing is making will it mean the end of crypto as we know it once quantum computing become a reality?

I am aware of no such "steps forward" to this point.  As of now it is still only a concept in labs.   It is so far into the future for now it's not really worth worrying about. Going from entangled particles to a real system which can run real software is nowhere in sight.

Its in the realm of controlled nuclear fusion,  it's going to change the world and the big breakthrough  is always just 10 years away and it's been that way for over 50 years.
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