Quantum computers will end Cyrpto

[Levieth02ng]

Big statement thread title haha.

Watched click on the weekend, talking about Quantum computers, they're a long long way off. I enjoy science so understand the basic theory behind quantum physics, from quantum entanglement to Schrödinger cats theory.

If the binary digits can be both 1 and 0 at the same time means that any calculation can instantaneously be worked out.

therefor when and if we ever seen Quantum computers surely they could effectively solve the entire blockchain algorithm instantly.

That's my basic understanding. So effectively crypto is not really a future currency so to speak.

Any thoughts.... I'm probably complete wrong haha

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[Vod]

Quantum computers will end Cyrpto

I agree.  But you are not going to get anyone to drop their coins right now because of it.

People do not care about the future.  They only care about right now.  

Shortsightedness must be an evolutionary trait. 

[Proletarian]

It might not completely blow crypto out of the water though; they're just 3600 times as fast as a supercomputer. (don't entirely trust the source)

So that wouldn't end it right? wouldn't the prices for the coins massively drop ,only to then be mined to the extend that we are back fromm were we left off.

Or do you guys think people wouldn't bother anymore?

[MisO69]

I've been thinking about this lately and came to this conclusion.

When/If we get quantum computers we will know about this ahead of time. All that needs to happen is that we change the cryptography to quantum resistant tech. If that's possible I'm not sure but since it's just code I'm going to say it is.

People will have to transfer their cryptos to these new quantum resistant addresses on each blockchain.

Any coins left in older addresses will be susceptible to quantum attacks.

[Proletarian]

I've been thinking about this lately and came to this conclusion.

When/If we get quantum computers we will know about this ahead of time. All that needs to happen is that we change the cryptography to quantum resistant tech. If that's possible I'm not sure but since it's just code I'm going to say it is.

People will have to transfer their cryptos to these new quantum resistant addresses on each blockchain.

Any coins left in older addresses will be susceptible to quantum attacks.

Aren't they just computers but alot faster? how would you be able to block them form making new coins won't they just have ways to work around the blocks?

[Shitcointalk]

With a little anticipation, it will definitely not end crypto. There are already some project that are quantum resistant, and I believe more and more coins will add this feature, as the threat become bigger every day.

Of course, if you don't pay attention, if you don't update your wallet, if you don't sell the coins that are the most exposed, etc... Yes, you might end up robbed. Just basic safety. You wouldn't store your gold on your kitchen table. You don't want virus / malwares / trojans on your crypto computer, and as the time goes, you might want to reduce your potential exposure to quantum tech.

By the way, we are still far from home user quantum computer (about 15 millions $ I believe), but they already exist in few labs around the world, and I guess in some giant techs companies as well. So the threat is already here, even if, for now I doubt the few quantum owners give a shit about hacking crypto.

[Trofo]

I've been thinking about this lately and came to this conclusion.

When/If we get quantum computers we will know about this ahead of time. All that needs to happen is that we change the cryptography to quantum resistant tech. If that's possible I'm not sure but since it's just code I'm going to say it is.

People will have to transfer their cryptos to these new quantum resistant addresses on each blockchain.

Any coins left in older addresses will be susceptible to quantum attacks.

I agree with above. As far as I understand it, quantum computers should be really good in some computations while they will not be suitable for some others. Therefore, new algorithms will have to be incorporated for mining and encryption.

IMHO biggest problem will be brute force attacks. Quantum computers should be able to crack some passwords which are considered secure these days.

[LastJedi]

I can see that happening.
But it will be just seen as the next evolution of what crypto is right now.
It is a natural progression.

[nsasuiteb]

I disagree because cryptocurrencies are going to solve this issue by making changes in their protocols before that happens. 

[BroganBloodstone]

I disagree because cryptocurrencies are going to solve this issue by making changes in their protocols before that happens. 

Exactly. They are already working on it with coins such as QRL.

No point getting fearful and stopping yourself making money now in the next few years anyways.

[beskid]

Quantum computers are still in their infancy, but by 2027 they will be able to crack elliptical cryptography, on which digital signatures are based, confirming the ownership of tokens in Bitcoin's blockade and other crypto-currencies. For protection, it is necessary to start developing technology that is used to  Verification of transactions in the chains of the distributed POW registry.

[EcuaMobi]

No, they won't

It works both ways. New technology (i.e. quantum computers) can be used for both breaking and fixing cryptography.

Basically, quantum computers can break current cryptography and make it useless, but the very same properties of quantum computers allow us to modify cryptography and crypto-currencies to prevent or fix this. Now, of course bitcoin and other coins must be updated when required.

This video explains this in a better way:
https://www.youtube.com/watch?v=6H_9l9N3IXU
(Particularly SSL, but it can be applied to cryptography in general)

[zoran.drobnjak]

Andreas Antonopulos recently said:
Ever since I was born not a single atom of my body remains in place, however what always remains is a pattern that shapes me into who I am.
Similarly what will remain of Bitcoin in its present form will only be its name and it will continuously evolve in line with present technological and market requirements.

At the time he was only addressing scaling issue and its technological resolution, but there is also no doubt that cryptocurrency technology will change over time and by the time we have quantum computers we will also have quantum resistant Bitcoin.

[Xylber]

No, they won't

It works both ways. New technology (i.e. quantum computers) can be used for both breaking and fixing cryptography.

What makes you think we, normal users, will have access to quantum computers?
If an evil goverment or evil comporation creates a quantum computer (a real one, not the trash produced right now), it can destroy any network. We don't even know if they already have one.

[EcuaMobi]

No, they won't

It works both ways. New technology (i.e. quantum computers) can be used for both breaking and fixing cryptography.

What makes you think we, normal users, will have access to quantum computers?
If an evil goverment or evil comporation creates a quantum computer (a real one, not the trash produced right now), it can destroy any network. We don't even know if they already have one.

We (and by that I mean someone) don't actually need a quantum computer. We just need the basics.
As described in the video I linked, we can use the basic properties of quantum to improve the encryption algorithms.
While an actual quantum computer is required to hack, less than that is needed to protect cryptography against it.

I guess it's possible some government is finishing developing it without anyone else knowing, but I find that very unlikely.

[kiver]

No, they won't

It works both ways. New technology (i.e. quantum computers) can be used for both breaking and fixing cryptography.

Basically, quantum computers can break current cryptography and make it useless, but the very same properties of quantum computers allow us to modify cryptography and crypto-currencies to prevent or fix this. Now, of course bitcoin and other coins must be updated when required.

This video explains this in a better way:
https://www.youtube.com/watch?v=6H_9l9N3IXU
(Particularly SSL, but it can be applied to cryptography in general)

i watched the video thank you for the easy explanation  first time to know what is a quantum computer i hope what you'r saying is true that we are safe
but from what my simple mind understand that we need a quantum resistance coin as soon as possible the crypto currencies world is a revolutionary system i hope all this work doesn't go to waste just because of quantum phisx

[ManaMan]

So far they have succeeded to sustain quantum particles like few seconds or half a second, last time I read about it. But this shouldn't be a big issue as when we will see this coming we can simply make a tweak within bitcoin software that will enable larger private keys and public keys so we can even make it more difficult to crack. Although then I'd assume that somebody could dig out lost coins, or even take the possession of satoshies coins if they don't move later down the road when quantum computers become a standard. Although I'd give them like 5-10years and after we can see how far have scientists really went. Until now there's no point to worry about such thing.

[theymos]

Last I heard, they've still only been able to maintain fewer than a dozen qubits for long enough to perform computations. You need around 1500 to attack Bitcoin keys. There are also well-known ways of doing asymmetric crypto using QC-secure symmetric primitives. See my article here, which is still correct a couple years after I wrote it: https://en.bitcoin.it/wiki/Quantum_computing_and_Bitcoin

While it is something to keep in the back of our minds for 5 or 10 or more years in the future, I'm not worried about quantum computers at all right now.

[BroganBloodstone]

No, they won't

It works both ways. New technology (i.e. quantum computers) can be used for both breaking and fixing cryptography.

What makes you think we, normal users, will have access to quantum computers?
If an evil goverment or evil comporation creates a quantum computer (a real one, not the trash produced right now), it can destroy any network. We don't even know if they already have one.

We (and by that I mean someone) don't actually need a quantum computer. We just need the basics.
As described in the video I linked, we can use the basic properties of quantum to improve the encryption algorithms.
While an actual quantum computer is required to hack, less than that is needed to protect cryptography against it.

I guess it's possible some government is finishing developing it without anyone else knowing, but I find that very unlikely.

People who have a lot to lose from crypto getting bigger maybe investing heavily into getting something working asap so they can cause a huge meltdown in crypto markets. I hope it never happens, but I will personally be taking profits along the way. It may take longer to reach my goal, but at least I will not be left holding worthless coins if something goes wrong.

That said I not worried for the next year or so

[MrSpasybo]

We are currently only able to generate 15 or 49 qbit processors, which is a modest number to mention about building a quantum computer.

However, with the rapid development of science and technology, we can expect that in the next 10 years, we will have the first quantum computer with a billion times greater power than current computers.

In the light scenario for cryptoworld, quantum computers are used to solve the problems of scalability, speed or the nature of blockchain technology, we will get the network at the rate of billions tps.

In another dark scenario, quantum computing is the property of a big company, or of a whole nation, since no private farm has the capacity / opportunity to build a quantum computer at the stadium size. That could be a way for the government to control the crypto community because the quantum computer is so powerful. Forget the concepts of "attack 51%", because there will be "attack 90%", forget the decentralization because most of the power of the system is in the hands of the government.