Bitcoin will die at 2027

[btc_angela]

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 ))

The problem is that quantum computing is like taking the world by storm and its touted to break "bitcoin algorithm". However, bitcoin is still foul proof and yeah it bitcoin core see's that there is a threat in the future then I'm sure some adjustments will be made by that time.

[exstasie]

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.

Most Bitcoin developers would disagree with you. I think Ethereum core developers' plan of transitioning from POW to POS is actually quite dangerous. POW is the glue that holds the economy together; you can't just suddenly replace it and expect the network to blindly follow. The difficulty bomb has been shown to have no teeth, so miners will simply continue mining the POW chain and remove the difficulty bomb as needed. And some of the network will follow them.

This effect would be amplified in Bitcoin, since POS is anathema to Bitcoin users. More than that, it was never part of the design, and there was never any intent to transition to it. It could be as contentious as increasing the 21M coin supply.

It makes much more sense to directly address the quantum computing issue than to use it as an excuse to change consensus algorithm.

[Biscutard]

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
 

Let's say about that but for the meantime let's just celebrate the joy of bitcoin that brings to us, we still have 9 years left to worry something that is not yet done. Best to invest bitcoin today and wait for the price of it during that year and you will be amazed that it doesn't care.

[Inkdatar]

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
 

Let's say about that but for the meantime let's just celebrate the joy of bitcoin that brings to us, we still have 9 years left to worry something that is not yet done. Best to invest bitcoin today and wait for the price of it during that year and you will be amazed that it doesn't care.

Very true, let us not think for those that has not yet something done in crypto. I think of bitcoin has more to offer in the future. Many issues spreading in this industry and as long users exists in bitcoin it will continue.

[ethereumhunter]

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 don't want to talk about something that still on far away from us, and I am sure that if that thing happens, the bitcoin will evolve and transform to something better. We still need time before we can see what bitcoin looks in the future because bitcoin itself still grow every day and there are many people doesn't know about bitcoin. But I am sure that bitcoin can handle that things and even bitcoin will give something good for the user, so I don't have to worry about that.

[Soots]

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 don't want to talk about something that still on far away from us, and I am sure that if that thing happens, the bitcoin will evolve and transform to something better. We still need time before we can see what bitcoin looks in the future because bitcoin itself still grow every day and there are many people doesn't know about bitcoin. But I am sure that bitcoin can handle that things and even bitcoin will give something good for the user, so I don't have to worry about that.

I agree! It's too early to tell, Bitcoin has come so far, has helped a lot of people and will continue to touch lives of many especially for those who are true believers. Technology keeps on developing and so Bitcoin will. I don't know why some resort to ideas of Bitcoin coming to an end. We can have different speculations but for me, Bitcoin can certainly survive if we keep our hope firm and our support strong.

[sheenshane]

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 don't want to talk about something that still on far away from us, and I am sure that if that thing happens, the bitcoin will evolve and transform to something better. We still need time before we can see what bitcoin looks in the future because bitcoin itself still grow every day and there are many people doesn't know about bitcoin. But I am sure that bitcoin can handle that things and even bitcoin will give something good for the user, so I don't have to worry about that.

I agree! It's too early to tell, Bitcoin has come so far, has helped a lot of people and will continue to touch lives of many especially for those who are true believers. Technology keeps on developing and so Bitcoin will. I don't know why some resort to ideas of Bitcoin coming to an end. We can have different speculations but for me, Bitcoin can certainly survive if we keep our hope firm and our support strong.

Lol, probably OP have an ability to watch of what will happen in the future or the writer on that article. Yes, I also agree on both of you guys it's too early to predict and that year it's too far from now we could not easily believe if that really happen in the future. All we have to do now is to help the market grow by holding our coins not to do the panic selling.

[DeadCoin]

I think it will not be happen because now only bitcoin is growing. That's why many countries accepted the bitcoin so it will not die. It has a great future ahead, many people use bitcoin as assets and invest more on bitcoin rather than other savings. We cannot predict now the future but according to market it will not die.

[stayeduptolate]

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
 

The same was being said about the use of ASICS in the bitcoin mining industry that the use of ASICS will destroy the bitcoin mining industry but as we see now a days, all of the bitcoin farms use ASICS to mine bitcoins or any other mineable cryptocurrency. So now we see that the same is being said about the use of quantum computing and what I believe is that the case of quantum computing will still be the same as of ASICS.

[Ttomasz0882]

Bitcoin just sleep now, he will never die , it's finance future

2019-2020 will be great years for bitcoin

[fiomcorka]

That means we have to sell before 2027? People who hates bitcoins never stops telling when bitcoin is going to die.

Bitcoin died so many times in this forum l

300+ times
https://99bitcoins.com/bitcoinobituaries/

Probably that should give some people the clue that, no matter how much some keep pronouncing bitcoin dead, it just keeps coming back stronger, and in the end, they that pronounced it dead and those who want to believe that, are actually the ones who always miss out at the end. This is nothing new though, and i know even if bitcoin gets to possibly over $1m, and there is a correction, some will still keep coming with their obituary posters.

They never get tired of saying that word and we will not be tired of telling those gullible people that bitcoin has died many times. These people are up for something that they will benefit out of others misfortune or fear. I want to see bitcoin hit $1,000,000 until that day but I think we'll need a long time before that.

And obviously, it is glaring that they will never get tired, and we are not even tired of hearing it either as they can keep it coming. Probably in the long run, when we get to see bitcoin being used in real life, we will always make them as a point of contact for people who try as much as possible to only be seeing the negative aspect to things, rather than the positive, and how some of them with their dead mentality will always miss out in the end. I know this market is growing daily, and it is normal to see people coming to call some death scenario simply because they find it hard to have a bigger picture.

[eekkaa]

Your prediction is too far away and maybe the price of bitcoin in the year you mentioned is very expensive, because you have to know that all the possible prices of the cryptocurrency can happen.

[jrrsparkles]

People keep spreading thse kind of prediction always not only about crypto end they also said the world will end in 2012 and 2017 and in 2020 but no right so the predictions are prediction which is the thought of someone which is not enough the reason it will happen.

[Tagus45]

I am not sure that bitcoin will die in 2027, nobody can predict the death of bitcoin, and with the popularity of bitcoin, I am more convinced that Bitcon will survive beyond what you say with the death of bitcoin.

[3la9l_kolbaCa]

People keep spreading thse kind of prediction always not only about crypto end they also said the world will end in 2012 and 2017 and in 2020 but no right so the predictions are prediction which is the thought of someone which is not enough the reason it will happen.

These predictions is not believable, and I hope every people will realize that FUD still became a chaos to everyone who still learning crypto. This is only the strategies of the people who hated crypto and because of their frustrations they find ways to take down crypto, by spreading a topic which people would create negative opinions towards bitcoin. They think that, through fake news and other false materials they will be successful in making bitcoin fall into cheaper price. Stay stronger and never mind those statements, just stay focus on the goals you have.

[deppil]

People keep spreading thse kind of prediction always not only about crypto end they also said the world will end in 2012 and 2017 and in 2020 but no right so the predictions are prediction which is the thought of someone which is not enough the reason it will happen.

Its absolutely FUD. nobody knows when bitcoin will die or when will the end of the world lol. what is important now is that bitcoin continues to grow and spread and more stronger it will make the age of bitcoin will be much longer. don't take this topic seriously. this is just someone's fud and speculation

[marcbitcoins]

Really, again with this shit, this has been discussed extensively, quantum computers are still far away to be a reality, even if you could make them now, bitcoin would be the least of your problems, you could hack banks and basically anything with those not just bitcoin, in fact cryptocurrencies could be the only thing that could save us from quantum computers so yeah..

It is a relief then because i also don't believe that Bitcoin end of life is already at hand as more and more countries are legalizing Bitcoin which mean trading, investments and the chain cycles will never stop so how come for a so called quantom computers will just obsolete Bitcoin and the crypto currencies in the future in which their current explanations need to be more specific so that people will believe.

[tosmartak]

People keep spreading thse kind of prediction always not only about crypto end they also said the world will end in 2012 and 2017 and in 2020 but no right so the predictions are prediction which is the thought of someone which is not enough the reason it will happen.

People can keep spreading or saying whatever they like, it is their opinion and it is not the first time someone is going to come out to proclaim death for bitcoin, and basically, that shows how limited their knowledge is to end up predicting death for the future. Apparently, this will just be among the list of the obituary of bitcoin in the long run. This is a market that is growing daily, death does not look like something that will be happening at all, and even if it happens, I doubt if we will even be experiencing it, although that is just even an assumption, as I believe nothing of such will happen.

[MFahad]

People keep spreading thse kind of prediction always not only about crypto end they also said the world will end in 2012 and 2017 and in 2020 but no right so the predictions are prediction which is the thought of someone which is not enough the reason it will happen.

First of all, no one knows what will happen in 2020, so the discussion on this topic is just a waste of time. Even though every one saying bitcoin will reach 100K dollars or even more by that time, but what about a world war or a big earth quake shatter all the dreams.

[DapC]

I read the topic carefully. Of course, you can condemn the author and those who support him, for unreasonable panic. But here, for example, is another objective and independent scientific opinion about the quantum vulnerability of the blockchain:   

“Quantum computers put blockchain security at risk. Bitcoin and other cryptocurrencies will founder unless they integrate quantum technologies, warn Aleksey K. Fedorov, Evgeniy O. Kiktenko and Alexander I. Lvovsky.”

“By 2025, up to 10% of global gross domestic product is likely to be stored on blockchains1. A blockchain is a digital tool that uses cryptography techniques to protect information from unauthorized changes. It lies at the root of the Bitcoin cryptocurrency2. Blockchain-related products are used everywhere from finance and manufacturing to health care, in a market worth more than US$150 billion.
When information is money, data security, transparency and accountability are crucial.
The blockchain business needs to update its existing software to use one-way cryptographic functions that are equally hard to reverse using conventional or quantum computers9. Until these post-quantum solutions are established or standardized, platforms must be flexible and capable of changing cryptographic algorithms on the fly.”

The full article is here: https://www.nature.com/articles/d41586-018-07449-z#ref-CR12


Basically, scientists write about all the same as in the article referred to by the author of the topic: https://dapcash.org/quantum-apocalypse  Only a little less emotions:-)