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Author Topic: Quantum Mining??  (Read 851 times)
siforek
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October 30, 2017, 02:15:56 PM
 #1

Kind of crazy idea but with enough versions of myself in other dimensions trying to solve problems 1 is bound to solve it much quicker(even on the 1st attempt) & then relay that solution to all the others..

Thoughts? Ideas?
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Mike011
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October 30, 2017, 02:56:41 PM
 #2

Sounds nice, the thing is - QC costs around 1 million dollars...
siforek
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October 30, 2017, 02:59:38 PM
 #3

Sounds nice, the thing is - QC costs around 1 million dollars...

Yeah not feasible now but the way I see it mining is just the sort of problems that QCs are very good at solving.
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October 30, 2017, 03:59:06 PM
 #4

also there isnt any known programming language yet .. I might be wrong, I stand a point to be corrected
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October 30, 2017, 05:59:05 PM
 #5

Hashing algorithms are one way, and thus, quantum resistant. So a quantum computer will not likely give you huge advances with a traditional proof-of-work.
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October 30, 2017, 07:19:42 PM
 #6

What are we talking about?
Quantum computing is future and there is tens of decades and billions of dollars between us an this technology in any commercial form.

siforek
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October 31, 2017, 02:53:35 PM
 #7

A multi dimensional crypto currency.. QCs will eventually be affordable, especially once they can work around the interference the required near absolute zero tempetures to operate even a few qbits.
Mike011
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October 31, 2017, 03:01:13 PM
 #8

A multi dimensional crypto currency..

Damn that sounds totally sexy!
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October 31, 2017, 03:13:51 PM
 #9

Sounds nice, the thing is - QC costs around 1 million dollars...

Well, if it can convert back in BTC in a feasible time, it's fine. You need +-167 BTC for $1mi at current price. It's all about perspective, market analysis and how much you have to invest.

EDIT: had to remove the calculation regarding BTC because it seems hashing algorithms are resistant to quantum mining (I guess I'll need to check it by myself).
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October 31, 2017, 04:28:31 PM
 #10

Cannot conceive it
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October 31, 2017, 04:35:21 PM
 #11

It's seems like its the "new auroramine" - It's possible it will initially payout and then suddenly disappear. #ScamAlert

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October 31, 2017, 04:53:27 PM
 #12

It's seems like its the "new auroramine" - It's possible it will initially payout and then suddenly disappear. #ScamAlert


Dude quantum mining isn't a cloud mining service, its an actual computer. #NotAScam
siforek
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November 06, 2017, 03:37:41 PM
 #13

Quantum Mining isn't a thing yet. As far as I'm aware we're still a ways out from anyone even trying it. I can get a little time on a DWave in soCal but idk it it'd be enough to demonstrate anything significant.

As I understand it though 1 quantum computer with enough qbits could easily crack every lock we use on the net & out hash the entire bitcoin network, so.. Yeah, I'm just trying to connect to a billion other me's rigs & via quantum tunnling share solutions.

There are of course some more technical limitations here & realistically if such a device were created it would be implemented with a new type of coin.
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November 06, 2017, 04:04:21 PM
 #14

The idea with traditional computing devices, from the abacus to today's supercomputers, is that anything they can do could be done by humans with paper/pencil and enough time.

Quantum computers are expected to be inherently different, perhaps in a way that we are unable to reproduce by hand at all (what you believe may be influenced by which interpretation(s) of QM you endorse). This is why the question of whether or not scalable quantum computers could cause serious problems for certain cryptocurrencies has yet to be answered in full. However, given observations about how small-scale quantum computing devices have done well at problems such as prime factorization and other similar processes, some conclusions have been drawn about what will happen to existing algorithms if/when superior QC devices are developed.

This is why quantum computing/quantum information is such a big field right now, since asymmetric cryptography is used all over the web, from cryptocurrencies to banking systems to credit cards, etc.

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November 06, 2017, 04:42:37 PM
 #15

Kind of crazy idea but with enough versions of myself in other dimensions trying to solve problems 1 is bound to solve it much quicker(even on the 1st attempt) & then relay that solution to all the others..

Thoughts? Ideas?

propably with this kind of stuff you could ahve a miner that mine many altcoin at one without losing hashrate on any of them pretty much like clymore dual mining, but not only limited to two altcoin but to all of them lol would be crazy
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November 06, 2017, 05:24:59 PM
 #16

Quantum computers are good at solving equations with lots of variables.
They are NOT designed to work well with the very simple repeated operations involved in cryptographic work.

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November 06, 2017, 06:13:10 PM
 #17

Quantum computers are good at solving equations with lots of variables.
They are NOT designed to work well with the very simple repeated operations involved in cryptographic work.


I think no one does not know what is good and what is bad quantum computers. We don't have them and they will not soon appear. With the same success you can talk about that in space there are planets which are composed of diamonds. Why mine cryptocurrencies if you can fly to this planet and to bring several tons of diamonds. Better to think about what we can do now to help to make bitcoin better.

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Branko
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November 06, 2017, 06:15:46 PM
 #18

Sounds nice, the thing is - QC costs around 1 million dollars...

Thats nothing, since you could solo mine all the remaining BTC

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November 07, 2017, 01:41:36 AM
 #19

Quantum computers are good at solving equations with lots of variables.
They are NOT designed to work well with the very simple repeated operations involved in cryptographic work.


I think no one does not know what is good and what is bad quantum computers. We don't have them and they will not soon appear. With the same success you can talk about that in space there are planets which are composed of diamonds. Why mine cryptocurrencies if you can fly to this planet and to bring several tons of diamonds. Better to think about what we can do now to help to make bitcoin better.

 Quantum computers have existed for a WHILE now.
 https://www.dwavesys.com/quantum-computing is probably the best-known company making them.

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November 07, 2017, 07:41:15 AM
 #20

Kind of crazy idea but with enough versions of myself in other dimensions trying to solve problems 1 is bound to solve it much quicker(even on the 1st attempt) & then relay that solution to all the others..

Thoughts? Ideas?
I'd like to see a mines based on this idea  Shocked Grin

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