Quantum Computer vs Bitcoin

[stefanotomakan]

Isn't Bitcoin (and Monero for that matter) already quantum-resistant?

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[monkeydominicorobin]

I heard that Quantum Computer can destroy bitcoin.
Is it possible?

Again read the FAQ of the main Bitcoin site. Quantum computers will never ever destroy Bitcoin. Period.

[bestr17]

An international group of quantum boffins reckons Bitcoin could be broken by the year 2027.Right now Bitcoin actually has a little bit of quantum resistance built into it. As long as users are changing addresses with every new transaction -which is obviously recommended- then they mitigate the exposure their private keys to being cracked. The speed with which a quantum computer would need to break that key is insane for now as well. It would have to crack the key up between the time the transaction is signed and when it is packaged into a block. So dont worry about it in nearest couple years))

[Airdrop Manager]

I read that it took several thousand years for quantum computers to decrypt a private key btc.....

[rillater]

It could happen sooner than you think. Intel continues to develop quantum processors. During the Consumer Electronics Show in Las Vegas, Intel announced that it had designed, manufactured and delivered its first experimental quantum processor with 49 qubits.
Fortunately it will take five to seven years before the industry can deal with engineering problems and probably 1 million or more qubits will be needed to achieve commercial relevance.
But from what I read, it would only be necessary to reach the 400,000 qubits to decrypt all the Bitcoin private keys.
Luckily the Bitcoin world will not be stopped and is already working on qBitcoin (quantum Bitcoin) to take advantage of the power of these computers to preserve the system.

[Ghostsss]

According to scientists, the majority of modern cryptographic protocols that ensure the security of Internet transactions and financial transactions are potentially vulnerable to a sufficiently large quantum computer. To the services that are threatened by hacking, they also carried cryptocurrencies.

[NITCoinOfficial]

Quantum computer is not something you can build in your basement (for now). I am sure there are a few countries who already achieved this goal and probably have all the bitcoin private keys already. However, they are not telling anyone about this and never will. What's more important is that most cryptocurrencies are built on similar sha256 hashes, having all key-pairs is a job you need to do only once if you're using the same crypto-curve.

[georgiasus]

that's a moot point. I think in the middle of 2018 we will find out the answer to this question. just this momet is expected to update in the development of a quantum computer.

[Fantastic33]

Quantum computer is a technology which can be useful in the future in some ways such as solving advance optimization problems. But it can also pose problems on cryptocurrencies once it was successfully developed, because it could upend cryptography and security by cracking otherwise invincible codes. Since quantum computers are not yet existing, then we dont have to worry. Or if its possible that it can be created, i think that the bitcoin teachnology already  did a solution for that.

[xieqieshangu9]

It doesn't matter, the quantum computer has a monopoly on power, but it's just an account, it doesn't change the total amount of bitcoins and the annual output. And since 2040, the production of bitcoins has been very low. Miners have not made much money, and a centralized accounting quantum computer is well worth it!

[george888055]

Because it is significant to understand the limitations and threats of a crypto system. In a couple of years down the road, QCs will be able to break current bitcoin's crypto

[sort_cirkit]

Quantum computers could crack Bitcoin, but fixes are available now said  www.theregister.co.uk https://www.theregister.co.uk/2017/11/09/quantum_computers_could_crack_bitcoin/

Bitcoin is an important feature of its security. Bitcoin has two important security features that prevent them from stolen or copied. Both are based on cryptographic protocols which are hard to crack. In other words, they distort the mathematical function, such as factiveness, which is easy at one hand but is harder for others - at least one common classical computer.

[Spendulus]

Because it is significant to understand the limitations and threats of a crypto system. In a couple of years down the road, QCs will be able to break current bitcoin's crypto

Long before any of "bitcoin's crypto" was "broken," every password of less than 12 digits is broken. Then every password of 16 digits, then 20, whatever...far down that line is bitcoin with >50 digits.

If every password of less than n digits is broken where (n < 25% of length of bitcoin private key) then certainly some of those passwords would be to the likes of coinbase.

But that dodges the question, doesn't it?

[vanslyien]

Where do you heard this? The possibilities raised was, if quantum computer can destroy bitcoin. In making an act, specifically a criminal act especially this one which may be categorized into cyber crime but just to be clear if there is no law punishing it there is no crime which lead to another question. Is there a penalty if a person violated the rules and guidelines in Bitcoin? I believed there is, I will read further on this query I've raised.  . Back into executing an act, there is three elements. 1. Motive - What possible motive a person will drive him to destroy bitcoin if he posses a quantum computer wherein in fact there are numerous advantages he can get if he use one in the arena of virtual currency, 2. Instrument - the quantum computer itself, 3. Opportunity - there are lots of opportunities in the world of cyberspace.

"It Always Seems Impossible Until It Is Done" - Nelson Mandela.

[diwataluna]

This is an interesting topic. I have only been familiar with quantum computing for a month. Reading all the responses and links shared, it looks like quantum computers won't break bitcoin anytime soon. And the technology will catch up soon to resist such attacks. There is already an awareness of the threat from the start.

[melamiras]

This is an interesting topic. I have only been familiar with quantum computing for a month. Reading all the responses and links shared, it looks like quantum computers won't break bitcoin anytime soon. And the technology will catch up soon to resist such attacks. There is already an awareness of the threat from the start.

There are a million things that could potentially kill bitcoin before quantum computing becomes a reallity. I think that BTC will be dead in 4 years if not less, no need for supercomputing.

[imjustagirl]

It is possible. Let's say I have access to all computers and servers in the world and can use at least 10 % of their power to generate all bitcoin wallets and I have a big enough storage drive to get the results. It would take a few years, but I will have all those keypairs. Invent a better algorithm for generation, speed it up and maybe it will take even less time. Index the database and there you have it. The other reason as to why you will never know about it, is because nobody who would do such a thing would tell anyone about it. Why would they? Drop the bitcoin price? Set a world panic? Destroy bitcoin? Why would you, if you have access to all bitcoins? Why would you even take more than you need? Why not just empty the long lost wallets, and nobody would even notice. There are far better purposes for quantum computers than to generate bitcoin keypairs, let's do some calculations to get us further into space, move to Mars, improve statistics, make science breakthroughs, etc.

[DannyHamilton]

Let's say I have access to all computers and servers in the world and can use at least 10 % of their power to generate all bitcoin wallets and I have a big enough storage drive to get the results. It would take a few years,

You might want to double check your maths...

There are 2¹⁶⁰ different addresses.
2¹⁶⁰ = 1461501637330902918203684832716283019655932542976

There are approximately 7.4 BILLION people on earth.

If we give EVERY ONE OF THEM (infants, elderly, etc) 1 MILLION computers, AND each of those computers are able to generate 1 BILLION addresses per second, AND we used 100% of that power to do nothing else other than generate all bitcoin wallets continuously without interruption, then we'd generate approximately:
7,400,000,000 people X 1,000,000 computers X 1,000,000,000 addresses per sec = 7400000000000000000000000 addresses per second.

At that rate, it would take:
1461501637330902918203684832716283019655932542976 addresses / 7400000000000000000000000 addresses per second =
197500221260932826784282 seconds to generate all bitcoin wallets.

There are approximately 31557600 seconds in a year.
197500221260932826784282 seconds / 31557600 seconds per year = 6,258,404,354,606,587 years

That's more than 6.2 QUADRILLION years!

The entire universe since the Big Bang has only existed for about 13.8 BILLION years.  That means you'd have to continue this process from the beginning of the Big Bang until today, and then repeat that 453,508 more times!

THAT SOUNDS LIKE A LOT MORE THAN "a few years" TO ME! (and with a lot more computing power than you were suggesting).

[Kingigolo]

A quantum computer cannot destroy bitcoins, of course it'll have superior processing ability and greater storage capacity but it'll not be able to destroy bitcoins.

[zhangxie29152784]

I heard that Quantum Computer can destroy bitcoin.
Is it possible?

According to the latest research by security experts, the power of quantum computers will be able to break the security of bitcoin within 10 years, and security is one of the foundations of bitcoin as a virtual token.

An important feature of bitcoin is its security. Bitcoin has two important security features to prevent them from being stolen or copied. Both features are based on unbreakable cryptographic protocols.

But quantum computers can easily solve these problems, according to a team of Dave garwal. And the world's big tech giants are already working on their first quantum computers.