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Author Topic: Quantum Computing  (Read 207 times)
#BitcoinVegan
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December 11, 2017, 01:28:47 AM
 #1

Does quantum computing stand a chance a destroying Bitcoin? I honestly don't think so but i would like to hear other opinions and more importantly #Facts. 
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December 11, 2017, 01:32:17 AM
 #2

Probably...

But just as quantum technology is growing up, so is blockchain tech, and if I recall correctly, there are news about a workaround for quantum computer's ability to crack down blockchain wallet's security

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December 11, 2017, 01:49:18 AM
 #3

Well the thing here is that Quantum computing isn't at the point where it would be to destroy Bitcoin due to the fact that the tech isn't there yet, but once it is there I do know that there would be people here (myself included) that would support measures to protect Bitcoin against quantum computing attacks (and such) on the network. As we would have to do this in order to have Satoshis vision live on.

It can destroy us, but we CAN stop it / delay it if we work together.


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December 11, 2017, 02:38:04 AM
 #4

It would be impossible to say with certainty because quantum computers are still in development, but scientists estimate that they could be. Right now, public keys could be easily derived from private keys, but not the other way around. Deriving a private key from a public key would require a lot of computing power, so much that the conventional computers we have right now can't do it. What if quantum computers are powerful enough to do that though? They would have access to every address that has broadcasted a transaction, so each address would have to be emptied and trashed after use. This is why it's typically considered bad practice to reuse addresses, apart from privacy concerns.

That being said, it's all theoretical. It's hard to find out the true capabilities of quantum computers given that they don't exist yet. For now, we can rest easy that it remains impossible.

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December 11, 2017, 02:56:53 AM
 #5

Does quantum computing stand a chance a destroying Bitcoin? I honestly don't think so but i would like to hear other opinions and more importantly #Facts. 
Yes it is possible to happen, Bitcoin private key and public key are generated through an encrypted algorithm that is really hard and almost impossible to solve while Quantum computers have the ability to run Shor’s algorithm and Grover’s algorithm that can break this private and public key encryption, but not only Bitcoin can be destroyed by this Quantum computers but also most of the existing cryptocurrencies but there is a quantum computing resistant cryptocurrency like IOTA (I don't know if there are other altcoins that is secure with QC). Quantum computers are also a threat in Bitcoin mining because if there is an individual that can use it for mining, it can solve every hash and mine every block before anybody else do it and it can mine all the remaining Bitcoin supply that is not yet in the circulation faster, that sucks.
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December 11, 2017, 03:07:30 AM
 #6

Does quantum computing stand a chance a destroying Bitcoin? I honestly don't think so but i would like to hear other opinions and more importantly #Facts. 

I think the concept of quantum computing is far from now and also why would anyone use that technique to mine the coin.  They might use it to more sensitive stuff like solving the question of humanity and how we came to life. 

But lets say if we use it for bitcoin stuff then we will have to design it to work on it.  I mean though it is quantum computer it will still need to be coded for it. With the evolution it will start grasping the advances of bitcoin and then it will start working on it.

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December 11, 2017, 03:29:26 AM
 #7

I think it's still far away. Quantum computing is real, but now it's not able to crack our keys. In addition, perhaps many years after the development of quantum computing technology, there may be cracked keys, but then maybe bitcoin has become a history of coins, not worth breaking, that time may have more perfect function of the coin is we use every day.
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December 11, 2017, 03:35:01 AM
 #8

Does quantum computing stand a chance a destroying Bitcoin? I honestly don't think so but i would like to hear other opinions and more importantly #Facts. 

WIll U shit a unicorn tomorrow AM on the stool after AM coffee?

QC is not even close, but NSA doesn't release an algo that they don't hold the back-door key, its been the same all along, DES, ESA, ... since the 1960's NEVER once has NSA released a gov encryption standard that they didn't hold the 'master key'

Say what? I said that SHA-256 was created by the NSA, and BTC is a baby of ZOG/GS/BIS;

Don't need to talk shit about sha-256 hacking with QC, when it can be done by NSA anytime they wish.
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December 11, 2017, 05:13:37 AM
 #9

Yes, quantum computers have the ability to perform ultra-fast processing in a comparatively lowest period of the fraction of a second so it can affect the today's technology. However, since we are always ready for the change over the period of time, we might replace today's technology to make it difficult for the quantum computers to crack. If I am not wrong then I think ETH has that ability today so even quantum computing can not crack it.

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December 11, 2017, 05:24:12 AM
 #10

from the reliable sources that i sometimes read technical stuff, i have a feeling that quantum computing is overly exaggerated when it comes to bitcoin. and it is most of the times used to scare people into thinking bitcoin's security can be broken with them.
but they always forget that bitcoin is using the same hashing techniques as so many other things. and if it is to be broken, those others will fall so much faster than bitcoin. and it consists of banks and lots of other security related stuff.

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December 11, 2017, 05:29:28 AM
 #11

Yes, quantum computers have the ability to perform ultra-fast processing in a comparatively lowest period of the fraction of a second so it can affect the today's technology. However, since we are always ready for the change over the period of time, we might replace today's technology to make it difficult for the quantum computers to crack. If I am not wrong then I think ETH has that ability today so even quantum computing can not crack it.

Yes, and Unicorns SHIT GOLD

Quantum Computers don't exist in the real world, and neither do Unicorns, nor santa claus.

When will there be an operational QC?? About the same time that Cold Fusion is operational

Its amazing how detached from reality people are Sad

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December 11, 2017, 05:32:41 AM
 #12

It's too early to talk about quantum computing.
Quantum computers have not yet been created. Operating systems for quantum computers have not yet been created. Applicable software for quantum computers has not yet been created!
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January 15, 2018, 07:33:06 AM
 #13

There is a possibility that it might happen because it can destroy the blockchain wallet easily. Despite the securities of Bitcoin, sooner or later, it will be penetrated by this software.
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January 15, 2018, 08:32:36 AM
 #14

It's too early to talk about quantum computing.
Quantum computers have not yet been created. Operating systems for quantum computers have not yet been created. Applicable software for quantum computers has not yet been created!

I agree on you. while the block chain is already created. other scripts and quantum resistant techniques. If quantum computers will exist then it will be impossible to crack bitcoin they will be needing beyond quantum computing by that time.

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