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Question: Did Satoshi think that quantum computers will exist?
yes - 32 (74.4%)
no - 11 (25.6%)
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Author Topic: Did Satoshi think that quantum computers will exist?  (Read 1752 times)
Clement Kaliyar
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December 02, 2019, 03:52:25 PM
 #81

Researchers from the Russian Quantum Center suggested that quantum computing could eventually obsolete blockchain altogether.
If they are speculating that Quantum computer could make the blockchain obsolete then i can speculate that the bitcoin core will come up with a solution that could secure even the quantum attack and then they will spend another billion to do further research to break those system and it will be a never ending battle and once they burn enough billions they will eventually stop these bullshit research Tongue.


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December 02, 2019, 05:45:36 PM
 #82

Researchers from the Russian Quantum Center suggested that quantum computing could eventually obsolete blockchain altogether.
If they are speculating that Quantum computer could make the blockchain obsolete then i can speculate that the bitcoin core will come up with a solution

That's not an issue. Bitcoin developers have already post quantum solutions.
But there are lots of 'shalecoins', https://bitcointalk.org/index.php?topic=5134441.0 coins with no owner. With quantum computers, these coins will become active and change the Bitcoin ecosystem.

Satoshi had already thought of the quantum computers, and the possible decoding of the privatekeys if it became available, ..
His coins would be quantum secured, if he sent them to P2PKH addresses. But he did not and isn't doing.
2. Satoshi created the greatest prize competition and the privatekeys are somehow within the blockchain. https://bitcointalk.org/index.php?topic=5150688.0

and privatekeys are somehow within the blockchain = quantum computer?

We will get the answer with quantum computers. As soon as possible.
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December 03, 2019, 05:12:13 PM
 #83

Amazon Rolls Out Quantum-Computing Service (The Wall Street Journal - articles/amazon-rolls-out-quantum-computing-service-11575314729)
“Customers are asking for ways to experiment with quantum computers and explore the technology’s potential,” Charlie Bell, a senior vice president at Amazon Web Services, said in a statement.

Amazon Joins Tech’s Great Quantum Computing Race https://www.wired.com/story/amazon-joins-quantum-computing-race/

Satoshi, move your coins from P2PK addresses to P2PKH addresses.
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December 10, 2019, 04:50:21 PM
 #84

A quantum computing future is unlikely – here’s why
https://techcentral.co.za/a-quantum-computing-future-is-unlikely-heres-why/94562/
by Subhash Kak, Regents professor of electrical & computer engineering, Oklahoma State University
'...... is such a significant challenge in quantum computers that I don’t believe they’ll ever be built at a commercial scale.'

And now this:

Intel’s scalable quantum control chip
https://www.gigabitmagazine.com/big-data/hold-your-horse-ridge-intels-scalable-quantum-control-chip
Jim Clarke, Intel’s director of Quantum Hardware, said in a press release: “...... in order to develop a large-scale commercial quantum system.

Who will win?

Quantum computing could be the next big security breakthrough https://www.itproportal.com/news/quantum-computing-could-be-the-next-big-security-breakthrough/
'The vast majority believe quantum computing could become a problem for encryption within five years. Just seven per cent believe “quantum supremacy” will never happen.'
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December 20, 2019, 03:28:11 PM
 #85

4 Million Bitcoins Worth $40 Billion in Danger from Quantum Attacks
https://cryptonewspipe.com/4-million-bitcoins-worth-40-billion-in-danger-from-quantum-attacks/
https://bitcoinist.com/bitcoin-worth-usd-40-billion-vulnerable-to-quantum-attacks/
'How can BTC be Protected from Quantum Computers? Simply put, p2pkh addresses that were not previously used for spending Bitcoin should be perfectly safe. Their public keys were not revealed to the public, meaning that not even quantum computers can use them to derive a private key. All that people need to do is transfer their BTC to a new p2pkh address, and their funds should be perfectly safe.'

Satoshi knew that one day quantum computers will exist and will be able to move the early mined coins (P2PK) and created an unofficial prize competition to accelerate the development.

Nobody is asking why he is not moving the early mined unmoved P2PK coins:
These early mined unmoved P2PK coins are intented for an unofficial prize competition
https://bitslog.com/2013/04/17/the-well-deserved-fortune-of-satoshi-nakamoto/
https://bitcointalk.org/index.php?topic=175996.0

But Satoshi had mined more than the above mentioned coins. He had several computers to mine and his own coins are unknown. Some say these coins decrease the total number of coins as they can't be used. But in 2009 we had an agreement that the supply limit is 21 million BTC and that limit won't be changed. They will become active and all coins will be used.
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December 23, 2019, 05:37:40 PM
 #86


2019 was a huge year for quantum computing
https://thenextweb.com/artificial-intelligence/2019/12/23/2019-was-a-huge-year-for-quantum-computing/
'There were too many breakthroughs, research papers, and huge announcements for us to cover, much less list here. But, if you ask us, 2019 was the best year for quantum physics since Einstein started thinking about relativity. And 2020 is shaping up to be even bigger. See you in the future!'

https://www.reportbuyer.com/product/5312285/quantum-computing-market-and-technologies-2018-2024.html
'According to the “Quantum Computing Technologies & Global Market – 2018-2024” report, the global Quantum Computing market* will reach $10.7 billion by 2024, out of which $8.45 billion stem from product sales and services and $2.25 billion from government-funded RDT&E programs.'



Are they all wasting their time and money - billions -?
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December 23, 2019, 06:24:24 PM
 #87

Even though there are lots of work going towards the existence of quantum computer still it has not come to reality yet. And there are lots of ongoing work regarding the development of crypto too which will have no value if the quantum computers come into existence. People/companies are also spending money even on post-quantum computing to be secure against an attack by a quantum computer.

At the time of creation of BTC, the case of the existence of quantum computer was not considered as it was not considered in many of the cases. Now the developers are certainly finding defence system for any post-quantum attack.

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December 23, 2019, 06:40:21 PM
 #88

Satoshi trusted cryptography. That means didn't plan anything in case P=NP or in case quantum computers will exist/work as advertised. Also he probably didn't plan bitcoin to be so successful.

If anything breaks cryptography, it doesn't matter what Satoshi believed. Bitcoin will cease to exist.
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December 23, 2019, 07:39:41 PM
 #89

Unlikely for anything to break crypto any time soon. Besides, addresses are hashes of public keys which are not known until a spend transaction is visible. By the time that is done, it will be too late for any computer, quantum or not, to break it and get the private key in order to attempt to double spend anything.

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December 23, 2019, 08:53:01 PM
 #90

It wouldn't be right to think of Bitcoin or Blockchain for the last 10 years. For a decentralized structure, it is necessary to look at 1990. You need to look at even older dates. Bitcoin is the result of the CyperPunk stream. This is my opinion. Satoshi presented us with 30 years of experience. I think Quantum Computers are also guessing.

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December 27, 2019, 04:46:35 PM
 #91

Post quantum the wallets will have a chip Grin

Can Bitcoin Benefit From New 'Impossible to Crack' Encryption Chips? https://cointelegraph.com/news/can-bitcoin-benefit-from-new-impossible-to-crack-encryption-chips
'A team of researchers claims that the prototype silicon chip that they developed enables encryption that is impossible to break.'

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December 27, 2019, 05:36:13 PM
 #92

The history of work on quantum computers dates back to 1990s. So I would say, Satoshi would have known that quantum computers will become a reality in future which will have an ability to break any cryptographic hash. But that might not be the immediate concern for him because if quantum computers actually become a reality, then more than Bitcoin many other technology will be in problem. So, there will definitely be a way out.
He was more centered towards creating a decentralized currency than being concerned about something that will not become a reality in near future.
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December 28, 2019, 06:40:07 AM
 #93

We don't know if Satoshi's real intention is to build a blockhain in which you need to solved the block in order to go into the next block so maybe Satoshi thinks about the quantum computing in order to be more easy on solving the blocks in order to go into the second block and so on. I think Satoshi was very bright and early to think about what would be happen on the near future because he maybe think already that quantum computers will be built in order to used in quantum computing and quantum physics. This probably the main reason why blockchain technology became known by the masses or the people.



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December 28, 2019, 11:01:10 AM
 #94

Satoshi has mined the most coins.
In 2010 they were talking about lost coins and Satoshi said

Quote
Think of it as a donation to everyone.
https://bitcointalk.org/index.php?topic=198.0

1. He thought the coins are lost forever and we have a lot of 'shalecoins' https://bitcointalk.org/index.php?topic=5134441.0 and they will become active one day

or

2. Satoshi created the greatest prize competition and the privatekeys are somehow within the blockchain. https://bitcointalk.org/index.php?topic=5150688.0



1. Yes, with quantum computers they would become active. Did Satoshi think that quantum computers will exist?
Quantum computers are a long ways away from becoming general purpose computers. As of right now, quantum computers are highly limited to only being able to perform specific kinds of calculations and tasks. There is no threat stemming from quantum computers at the moment and there won't be for quite some time now.
   I would worry if quantum computers became commercially available like smartphones, then there would probably be room for panic to ensue. I believe that people have been watching way too many science fiction movies.  Grin
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December 28, 2019, 11:04:10 AM
 #95

He surely knew there were going to be pretty fast machine to predict things, that's why he went on with a high level of encryption. We still don't know if bitcoin security would be vulnerable to claimed quantum computers built by some institution and we also hope they'll never get on the hands of wrong people or used against bitcoin.

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December 28, 2019, 04:42:41 PM
 #96

It wouldn't be right to think of Bitcoin or Blockchain for the last 10 years. For a decentralized structure, it is necessary to look at 1990. You need to look at even older dates. Bitcoin is the result of the CyperPunk stream. This is my opinion. Satoshi presented us with 30 years of experience. I think Quantum Computers are also guessing.

Also wouldn't be "right" nor realistic to think Satoshi imagined that the system would remain the exact same thing for longer than a decade. Technology's advancement may not be exponential but certainly, innovation is. Perhaps there will be something before quantum computing that could crack the current tech in encryption, but silly to think encryption can't and won't move beyond that either. Bitcoin's resilience is well known and it's flexible enough to always stay ahead of the curve. But we've to ensure its decentralisation remains intact for that ability to remain unchanged ten, twenty, fifty years from now.

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January 02, 2020, 04:59:36 PM
 #97

Quote from: Hans17 link=topic=5188910.msg52617635#msg52617635 https://bitcointalk.org/index.php?topic=5188910.msg52617635#msg52617635
......
Fully operational? i guess on some states maybe?
More likely private groups.

BUILD YOUR OWN QUANTUM COMPUTER AT HOME
https://hackaday.com/2019/12/30/36c3-build-your-own-quantum-computer-at-home/
'As quantum computing is often depicted as cryptography’s doomsday device, it’s of course of concern that someone might just build one in their garage'




This decade the early mined Bitcoins will be moved and will become active.
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January 03, 2020, 03:10:33 PM
 #98

A Quantum Computing Future Is Unlikely https://www.govtech.com/products/A-Quantum-Computing-Future-Is-Unlikely-Due-to-Random-Hardware-Errors.html
Google claims quantum supremacy – IBM says not so fast. One researcher explains why he doesn't see quantum computers outpacing classical computers any time soon ... and maybe not ever.
"As someone who has worked on quantum computing for many years, I believe that due to the inevitability of random errors in the hardware, useful quantum computers are unlikely to ever be built."
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January 08, 2020, 03:47:12 PM
 #99

This decade the early mined Bitcoins will be moved and will become active.

Quantum computing will be the smartphone of the 2020s, says Bank of America strategist https://www.marketwatch.com/story/quantum-computing-will-be-the-smartphone-of-the-2020s-says-bank-of-america-strategist-2019-12-12
'When asked what invention will be as revolutionary in the 2020s as smartphones were in the 2010s, Bank of America strategist Haim Isreal said, without hesitation, “quantum computing”'
“In the future, even robust cryptographic algorithms will be substantially weakened by quantum computing, while others will no longer be secure at all,” according to Swaroop Sham, senior product marketing manager at Okta.'
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January 10, 2020, 02:59:56 PM
 #100

Quantum computing boost for IBM but Bitcoin stays safe https://decrypt.co/16211/quantum-computing-boost-for-ibm-but-bitcoin-stays-safe
IBM has doubled the power of its quantum computer but Bitcoin's encryption is still far from being broken.
"IBM has doubled the power of its quantum computer. At yesterday's CES 2020 conference, the company announced it had successfully achieved a Quantum Volume of 32 using its 28-qubit quantum computer known as Raleigh."
"As a network built entirely around cryptographically secured transactions, it stands to reason that a sufficiently powerful quantum computer could eventually crack the encryption used to generate Bitcoin private keys. However, according to a June 2017 paper by Martin Roetteler and several co-authors, such as a machine would need to command approximately 2,500 qubits of processing power to break the 256-bit encryption used by Bitcoin."
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