Bitcoin will die at 2027

[Fulmand]

I wonder why somebody here posted this type of speculative idea predicting the death of bitcoin. How could this be possible to happen? Is there any concrete evidence that provide any proofs? I guess this is another plan of those destabilizers to create panic here. We need to avoid this circumstances to occur one of these days, because if this idea will continue? The effect would bring bad scenario in the next following days to come.

[project_delta]

Hey, guys. This year I became seriously interested in quantum computers. I came across here a study of Australian and Singaporean scientists about the security of Bitcoin: https://arxiv.org/pdf/1710.10377v1.pdf There are a lot of figures and formulas in the report, I haven't understood everything, but the main idea I've caught is that if Bitcoin doesn't implement post-quantum algorithms, it won't survive until 2027.
Currently, I'm thinking hard about how I could minimize the risks - all of the sudden, it may be true about quantum computers. What do you think, guys?
Maybe, there are already some projects that make a crypto with post-quantum protection? I think it should be implemented in Bitcoin blockchain
 

How did you come up with this year?
As long as internet is alive, blockchain is.
It might improve some features or become the solution of some problems
But it is not that without quantum, blockchain cant survive.

[davis196]

Hey, guys. This year I became seriously interested in quantum computers. I came across here a study of Australian and Singaporean scientists about the security of Bitcoin: https://arxiv.org/pdf/1710.10377v1.pdf There are a lot of figures and formulas in the report, I haven't understood everything, but the main idea I've caught is that if Bitcoin doesn't implement post-quantum algorithms, it won't survive until 2027.
Currently, I'm thinking hard about how I could minimize the risks - all of the sudden, it may be true about quantum computers. What do you think, guys?
Maybe, there are already some projects that make a crypto with post-quantum protection? I think it should be implemented in Bitcoin blockchain
 

2027?There's enough time for the Bitcoin Core devs to write and implement post-quantum algorithms.
Why do you even bother?This is just another "Quantum computers will kill bitcoin!" type of topic,like many other topics here.Why to be afraid of a monster that doesn't even exist?
I don't think this topic belongs to the Speculation sub-forum.You should move it to Bitcoin Discussions.

[JohnBitCo]

Hey, guys. This year I became seriously interested in quantum computers. I came across here a study of Australian and Singaporean scientists about the security of Bitcoin: https://arxiv.org/pdf/1710.10377v1.pdf There are a lot of figures and formulas in the report, I haven't understood everything, but the main idea I've caught is that if Bitcoin doesn't implement post-quantum algorithms, it won't survive until 2027.
Currently, I'm thinking hard about how I could minimize the risks - all of the sudden, it may be true about quantum computers. What do you think, guys?
Maybe, there are already some projects that make a crypto with post-quantum protection? I think it should be implemented in Bitcoin blockchain
 

Maybe this is true but 2027 is a lot of time and we have to see many phases of bitcoin before that time. I am not saying it can't die, maybe we have something more better than bitcoins or maybe bitcoin will become so expensive at that time that it is not imaginable to think at the present moment.

[giacatluong]

I never believed in tabloid and bitcoin idiots. I personally thought about entering into the market and knowing what Bitcoin was like. It was stupid to comment Bitcoin could die in 2027. It has existed for quite some time why it is dead, it will grow even further and make the whole world use and accept it.

[Snaic]

Bitcoin will die in anyway, but in nine years seems very logical to me, it is pretty long period for technology, plus bitcoin is already nine years old, if it won't change it is going to be replaced by something new.

The situation in the cryptocurrency market is changing and will continue to change very quickly. In a decade, when quantum computers may be able to work, a lot of events will happen on the cryptocurrency market. Cryptocurrency also will not stand still. Yes, and other technologies as well. It is difficult to say what we fear in ten years.

[jonsky05]

How can you sure that bitcoin will e in that year. As you can see many people now discover about bitcoin and I think many users of bitcoin want to die the bitcoin. Unless if blockchain is gone or no one wants to use bitcoin.

[onrise]

How can you sure that bitcoin will e in that year. As you can see many people now discover about bitcoin and I think many users of bitcoin want to die the bitcoin. Unless if blockchain is gone or no one wants to use bitcoin.

This was the same started when it started and was said it is bubble and will end soon. It would not last longer etc but now we know its being a decade and still very strong. It will just grow stronger over the years and become more competent as well.

[Bitcotalk]

I don't think bitcoin is going to died in 2027. The idea about blockchain technology has been there for long and many stories like this has come out several times and bitcoin has proven them wrong.  I think that is were bitcoin will be on the Top Gear in it developments.  If you decided to reduce your risk because of this then you should Know that you may also going to reduce your rewards.

Anyone can even decide to think whatever they want to think in their mind, but the thing is that in reality, there is absolutely no one that can know what will happen tomorrow and this is not the first time that someone is going to come up with some doomsday theory of how the bitcoin market is going to die in upcoming year, so if I am asked, Ii will say it is nothing new, and we might just keep adding it to the number of those who already had their own share of prediction in the past years with bitcoin still alive, kicking and even doing better than they can imagine.

[South Park]

Hey, guys. This year I became seriously interested in quantum computers. I came across here a study of Australian and Singaporean scientists about the security of Bitcoin: https://arxiv.org/pdf/1710.10377v1.pdf There are a lot of figures and formulas in the report, I haven't understood everything, but the main idea I've caught is that if Bitcoin doesn't implement post-quantum algorithms, it won't survive until 2027.
Currently, I'm thinking hard about how I could minimize the risks - all of the sudden, it may be true about quantum computers. What do you think, guys?
Maybe, there are already some projects that make a crypto with post-quantum protection? I think it should be implemented in Bitcoin blockchain
 

This has been discussed many times in the forum, quantum computers are without a doubt a risk but the technology is still in its infancy and even if those computers were developed by then there are already algorithms that can resist even quantum computers, the only thing the developers will do is to update the code and they will avoid the death of bitcoin.

[exstasie]

2027? There's enough time for the Bitcoin Core devs to write and implement post-quantum algorithms.
Why do you even bother?This is just another "Quantum computers will kill bitcoin!" type of topic,like many other topics here.Why to be afraid of a monster that doesn't even exist?

It doesn't exist yet, but it's true that we should plan for it. This is what the OP said:

There are a lot of figures and formulas in the report, I haven't understood everything, but the main idea I've caught is that if Bitcoin doesn't implement post-quantum algorithms, it won't survive until 2027.

I agree we shouldn't fearmonger about it, but safely and cohesively hard forking to make the necessary changes may not be an easy feat. Any hard fork release should have a very long activation time to minimize the possibility of a network split, so we should be talking about this sooner than later.

Given the size of the Bitcoin network and its rate of adoption, I think we should avoid emergency forks to whatever extent possible.

[chickenado]

2027? There's enough time for the Bitcoin Core devs to write and implement post-quantum algorithms.
Why do you even bother?This is just another "Quantum computers will kill bitcoin!" type of topic,like many other topics here.Why to be afraid of a monster that doesn't even exist?

It doesn't exist yet, but it's true that we should plan for it. This is what the OP said:

There are a lot of figures and formulas in the report, I haven't understood everything, but the main idea I've caught is that if Bitcoin doesn't implement post-quantum algorithms, it won't survive until 2027.

I agree we shouldn't fearmonger about it, but safely and cohesively hard forking to make the necessary changes may not be an easy feat. Any hard fork release should have a very long activation time to minimize the possibility of a network split, so we should be talking about this sooner than later.

Given the size of the Bitcoin network and its rate of adoption, I think we should avoid emergency forks to whatever extent possible.

As what I've look a heads in  coming years ahead bitcoin will be more safe and proliferate as what we had now, because of continuous development.

[STT]

No this is not especially likely a threat, at this point the vast majority of Bitcoin will have already been distributed to the masses and the block reward is no longer a large amount of inflation to the monetary base.
They could simply switch to an alternative like Proof of Stake like ETH is doing as part of the confirmation process.    This helps raise security by requiring some ownership of the monetary base to have a share in transaction fees handled.    The main counter to this criticism or many others is Bitcoin protocol is not static and can adapt over time, I certainly think it will have to keep improving to stay relevant and better then alternatives that might appear without any direct attack

[upsidedown75]

No one can predict exactly what will happen in the coming years because you are not in the future right so how could you say that bitcoin will die in the 2027, its not good prediction and unrealistic.

If someone want to be successful men in the future you dont need to be  negative thinker but be optimistic that something will be fine to help your to improve working to seek you goal.  

Even if we are to predict what will happen, should it be a doomsday scenario? Moreover, I am sure it is not the first time, as I remember during the MtGox issue and even before then, when bitcoin possibly start hitting some downtrend, the claim of death begins.

I wonder if they realize that downtrend is not just something that is only applicable to bitcoin only and happens to every other market, and the only reason why we do not see huge volatility in some other markets is simply because it is more matured, and bitcoin will most definitely get there. It is just a pity that by then, people like the OP would have let their mentality affect them to the point that they won't be a part of that future.

[WinslowIII]

Hey, guys. This year I became seriously interested in quantum computers. I came across here a study of Australian and Singaporean scientists about the security of Bitcoin: https://arxiv.org/pdf/1710.10377v1.pdf There are a lot of figures and formulas in the report, I haven't understood everything, but the main idea I've caught is that if Bitcoin doesn't implement post-quantum algorithms, it won't survive until 2027.
Currently, I'm thinking hard about how I could minimize the risks - all of the sudden, it may be true about quantum computers. What do you think, guys?
Maybe, there are already some projects that make a crypto with post-quantum protection? I think it should be implemented in Bitcoin blockchain

There is no logic behind bitcoin dying. There is no reason for it to die, I understand some people bought bitcoin during its peak times at around $20k and now they lost a lot of money because of it and some even got out and just took the loss and those same people really wish the bitcoin would die off so they could say they got out at least before it died. That is the only possible reaction that makes sense, if you lost money on something you want it to go even further down so you can say you got out early and didn't lost all your money but some of it however if it goes up and makes all of us profit than that person sold early and should have waited so he could profit, he didn't which would upset him.

It is the human nature, you want the best option for your future to happen, that is all.

All of us want the best possible future. It's not easy to predict the future and do now what's necessary to secure your future. There is logic in bitcoin dying from better and more secured technology, that is possibility like many other possibilities, but how big chances are for that to happen and when? In 9 years from now I doubt that technology can advance so much.
People never lose with bitcoin cause of the bitcoin, it's cause of greediness and fear, greediness when they want much more, fear from price going down and panic selling. People lose with crypto only when they sell crypto for money, and they sell cause panic that has been spread around the Internet with topics about bitcoin death. I don't believe in this crap for sure, but many people still fall on similar things and they lose nerves and sell valuable coins for worthless money.

If money is worthless, paypal all you have to me because I can think of endless great things to buy with it, including crypto. Such a dumbass statement.
If those buying bitcoin during Dec 2017 peak are still holding and bitcoin never pumps again (a remote possibility) then it can for sure be said they lost because of bitcoin. At this point your comments aren't fact, they are speculation. If bitcoin fails to pump past previous ath by end of 2021 I expect it to collapse to nothing, so we'll see if you are right. Until then stop talking like you are saying facts.

[Dilerium90]

Hey, guys. This year I became seriously interested in quantum computers. I came across here a study of Australian and Singaporean scientists about the security of Bitcoin: https://arxiv.org/pdf/1710.10377v1.pdf There are a lot of figures and formulas in the report, I haven't understood everything, but the main idea I've caught is that if Bitcoin doesn't implement post-quantum algorithms, it won't survive until 2027.
Currently, I'm thinking hard about how I could minimize the risks - all of the sudden, it may be true about quantum computers. What do you think, guys?
Maybe, there are already some projects that make a crypto with post-quantum protection? I think it should be implemented in Bitcoin blockchain
 

I think that we should not worry about this, because technologies are developing gradually and by 2027 we will be safe with respect to super powerful computers. Otherwise, quantum computers - it's death of Bitcoin ))

[Capt00]

Hey, guys. This year I became seriously interested in quantum computers. I came across here a study of Australian and Singaporean scientists about the security of Bitcoin: https://arxiv.org/pdf/1710.10377v1.pdf There are a lot of figures and formulas in the report, I haven't understood everything, but the main idea I've caught is that if Bitcoin doesn't implement post-quantum algorithms, it won't survive until 2027.
Currently, I'm thinking hard about how I could minimize the risks - all of the sudden, it may be true about quantum computers. What do you think, guys?
Maybe, there are already some projects that make a crypto with post-quantum protection? I think it should be implemented in Bitcoin blockchain
 

I think that we should not worry about this, because technologies are developing gradually and by 2027 we will be safe with respect to super powerful computers. Otherwise, quantum computers - it's death of Bitcoin ))

I have seen many times like this but in another way that Bitcoin will die in the future, but I don't personally believe on that theory.
Yes, time to time technologies including computers are gradually developing near far a year of 2027, but I think also bitcoin technology has also developed at that time even quantum computers can't defeat on that. But let's think positively that it won't happen to this digital currency.

[UNOE]

but the main idea I've caught is that if Bitcoin doesn't implement post-quantum algorithms, it won't survive until 2027.

If you read a bit more around, for example the Bitcoin wiki, you'll find out some interesting facts and predictions from people that understand Bitcoin and cryptography. For example that it's not so easy to "break Bitcoin" even with quantum computer.
I will add 2 interesting quotes from the wiki:

Bitcoin already has some built-in quantum resistance. If you only use Bitcoin addresses one time, which has always been the recommended practice, then your ECDSA public key is only ever revealed at the one time that you spend bitcoins sent to each address. A quantum computer would need to be able to break your key in the short time between when your transaction is first sent and when it gets into a block. It will likely be decades after a quantum computer first breaks a Bitcoin key before quantum computers become this fast.

A sufficiently large quantum computer would cause some trouble for Bitcoin, though it would certainly not be insurmountable.

Thank you for informing me about that. I was thinking what could happen when quantum computer will be real thing what could happen to Bitcoin holders, but after I read these two short quotes I am more safer to hold my money in Bitcoin than ever. When quantum computer start stealing information from traditional banks, my holdings will remain safe behind cryptography code, which is really good to know.

Sentence "Bitcoin will die at 2027." is completely BS.

[maarx]

Nothing can be predicted as of now. But,looking at it growth now, crpto is going to be rocking the currency market as its doing now.

[South Park]

No this is not especially likely a threat, at this point the vast majority of Bitcoin will have already been distributed to the masses and the block reward is no longer a large amount of inflation to the monetary base.
They could simply switch to an alternative like Proof of Stake like ETH is doing as part of the confirmation process.    This helps raise security by requiring some ownership of the monetary base to have a share in transaction fees handled.    The main counter to this criticism or many others is Bitcoin protocol is not static and can adapt over time, I certainly think it will have to keep improving to stay relevant and better then alternatives that might appear without any direct attack

I agree people treat bitcoin as if it is an outdated technology that is not updated if there is a need for it, if the developers feel that quantum computers are becoming a real risk to bitcoin then they are going to figure out a way to avoid that, in fact the very fact that we are discussing this topic now and that it was done in the past shows the community is looking very closely to those developments and we will not be took by surprise by them.