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Author Topic: Google Says That They Have Just Reached Quantum Supremacy - BITCOIN IN DANGER?  (Read 315 times)
CryptoSparks
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September 23, 2019, 07:13:56 AM
 #1

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Google’s quantum computer is allegedly more powerful than the world’s top supercomputers and the performance proves just that. The quantum computer completed a calculation in 3 minutes that would have taken IBM's Summit, the world's most powerful commercial computer, 10,000 years to complete.

https://interestingengineering.com/google-says-that-they-have-just-reached-quantum-supremacy


Quantum computers are a threat for many blockchains, including BITCOIN.

Are you guys scared? Is this the gov's hidden ace against bitcoin since they can't force people to stop using it?

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September 23, 2019, 08:45:57 AM
Merited by HeRetiK (1), TryNinja (1)
 #2

Quote
Google’s quantum computer is allegedly more powerful than the world’s top supercomputers and the performance proves just that. The quantum computer completed a calculation in 3 minutes that would have taken IBM's Summit, the world's most powerful commercial computer, 10,000 years to complete.

https://interestingengineering.com/google-says-that-they-have-just-reached-quantum-supremacy


Quantum computers are a threat for many blockchains, including BITCOIN.




and

[source: https://www.ft.com/content/b9bb4e54-dbc1-11e9-8f9b-77216ebe1f17]

The paper has also disappeared from the NASA website.

Are you guys scared?

Not at all.
Besides, we would have far bigger problems to deal with than bitcoin.
Better worry about IT Security in general.

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September 23, 2019, 09:25:12 AM
Merited by achow101 (3), Vispilio (2), eaLiTy (1)
 #3

Can we please stop these Quantum Computer spams going around recently all over the forum? There are numerous topics regarding "Can bitcoin be destroyed using QC?" and people making the same posts over and over again. As of now, the Quantum computers would prove a threat when people tend to reuse the same addresses over and over again for receiving the coins. On such instances, public key of the bitcoin address might be figured out which with the help of QC can be helpful in displaying the private keys.

Currently there are no real ways or ideas where a QC can break through the SHA256 function and find out a public key but OTOH a future QC can break a public key cryptography and reveal the private key. The QC pose a threat for PKC type of algorithms but they cannot break the hash functions and if they come nearer to them, we can certainly double up the bit sizes. QC require around 1500 qubits to crack the ECDSA algorithm and the current working IBM Q System One has only 20 quantum bit. So it might take around 10-20 years for a quantum computer to reach at least 1000 quantum bits.But at least our bitcoin developers would find a way to adopt Bitcoin with Post-Quantum Cryptography techniques.

The recent Google's Quantum Supremacy is said to have an array of only 54 qbits which is only 2.7 times the qbits developed by IBM Q. When we find out a possible way to break ECDSA, we would be adopting for the post-quantum cryptography. Security Engineers and Hackers are always same and neither of them can win the game of security always. For instance, if a hacker exploits a system the security expert finds out a way to minimize the vulnerability at the earliest.

Everyone need to have a deep read on this topic : I don't believe Quantum Computing will ever threaten Bitcoin before starting any topics further on quantum computers and their threat to Bitcoin or cryptography.
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September 23, 2019, 09:28:46 AM
 #4

Let's talk again in 5-10 years when the viability of deriving private keys from public keys might become worth discussing.

For now I'm just glad to see some progress being made, QC is going to be a boon for physics.

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September 23, 2019, 09:57:36 AM
 #5

Can we please stop these Quantum Computer spams going around recently all over the forum? There are numerous topics regarding "Can bitcoin be destroyed using QC?" and people making the same posts over and over again. As of now, the Quantum computers would prove a threat when people tend to reuse the same addresses over and over again for receiving the coins. On such instances, public key of the bitcoin address might be figured out which with the help of QC can be helpful in displaying the private keys.

Currently there are no real ways or ideas where a QC can break through the SHA256 function and find out a public key but OTOH a future QC can break a public key cryptography and reveal the private key. The QC pose a threat for PKC type of algorithms but they cannot break the hash functions and if they come nearer to them, we can certainly double up the bit sizes. QC require around 1500 qubits to crack the ECDSA algorithm and the current working IBM Q System One has only 20 quantum bit. So it might take around 10-20 years for a quantum computer to reach at least 1000 quantum bits.But at least our bitcoin developers would find a way to adopt Bitcoin with Post-Quantum Cryptography techniques.

The recent Google's Quantum Supremacy is said to have an array of only 54 qbits which is only 2.7 times the qbits developed by IBM Q. When we find out a possible way to break ECDSA, we would be adopting for the post-quantum cryptography. Security Engineers and Hackers are always same and neither of them can win the game of security always. For instance, if a hacker exploits a system the security expert finds out a way to minimize the vulnerability at the earliest.

Everyone need to have a deep read on this topic : I don't believe Quantum Computing will ever threaten Bitcoin before starting any topics further on quantum computers and their threat to Bitcoin or cryptography.

Thanks for the very informative post.

My apologies for the thread, i only took a quick look at the first page of this section before opening it.


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September 24, 2019, 02:54:08 PM
 #6

Do you know how many thousands of years it takes to break one single private key man?
This Super computer of google or whatever has nothing to do with jeopardizing Bitcoin or cryptio in general.
We're more than safe at least for the next couple tens of years.

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September 24, 2019, 04:33:47 PM
 #7

Do you know how many thousands of years it takes to break one single private key man?
This Super computer of google or whatever has nothing to do with jeopardizing Bitcoin or cryptio in general.
We're more than safe at least for the next couple tens of years.

There is a genuine concern that in fact quantum computing renders all classical cryptography obsolete. This has been a theory for many years, but of course even the computers themselves had been theoretical (and some people have even made programs for these theoretical computers).

However one thing is truth is that this is slowly but steadily advancing, and we shouldn't go back to sleep. Even if its not today or not particularly that Google computer, you can be assured that the first people who are able to get one big enough to do harm, will keep it quiet (or ordered to remain quiet), America DOES have gag orders and national security, so an American company is the last source of reliable information on these matters to be made public in time.

It will go something like this, perhaps in Japan, or i don't know what other country, something "better" than these Google/IBM computers come, and them other countries join the race, while "still not quite there" as you are right now writing here.

And from America, silence. Or perhaps a few more announcements, then silence.

You won't know it, but the NSA is in my bet one of the first institutions to have one operating, provided by one of those American corporations sure, but in their control. Perhaps this is but a race to the bid, the State can be such a juicy client, even if it means going silent when they order it.

And remember when this time comes, it would be too late for "discussion". Discussion should be done now, and solutions implemented.  There have been proposed solutions to mitigate quantum computing in this transitional phase, and they should be implemented while we have the time to do so, not when its too late to act...

Decades later quantum computing will reach the masses, and the playing field will be level again (with quantum cryptography algorithms). But in the transition, it will not be this simple, in fact, quite asymmetric. Do you believe in those institutions that will own and operate the first ones? Its not the Americans alone, rest for sure that whatever America makes, China will get it, and Russia, Israel, at some point Europe, etc.

Yes of course they are going to use it to unscramble "evil terrorist" stuff first, or at least that will be the excuse. But in the way, "other" stuff will be revealed, without the affected parties knowing...

Scandal-drama again. What was the Watergate scandal again? No one remembers, and yet a president left office for that in the middle of the "cold" war... Will you wait for the next Snowden decades later to leak it?

Bitcoin is not in danger, but don't wait a couple of decades to address these issues...



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September 24, 2019, 04:53:21 PM
 #8

Why do people just think about the possibility of quantum computers destroying Bitcoin ? Many people don't want to look from a different aspect to quantum computers. QCs are like a revolution on science world. They will speed up all the processes and have much more accurate results than normal computers.

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September 29, 2019, 04:53:22 PM
 #9

When a company like Google announces something, you can bet that they are actually 10 years ahead of whatever they announce. Their system is most likely much more strong then they admit this article. However, there is such a thing as quantum resistant Bitcoin technology. it is a work-in-progress, but when it is complete, we will have protection against quantum attacks.
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September 29, 2019, 05:09:05 PM
 #10

Why do people just think about the possibility of quantum computers destroying Bitcoin ?
It's just to make a headline report for their media sites, if this quantum computer already exists that can destroy BTC, then banks should be worried more for this success of google.

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September 29, 2019, 05:59:20 PM
 #11

Clearly, there's nothing to worry about for now. Quantum computing is making progress, but it's still baby steps we're talking about. Especially if we are talking about something complex enough to pose a threat to Bitcoin. Unfortunately, it's unclear when and whether ever it will be a serious question to discuss. The progress in any area has a point after which it slows down significantly and things, that looked easy, turn out to be close to impossible and vice versa. Not to mention that even nowadays we already have some projects of quantum-resistant cryptocurrencies, so even if the threat becomes real, it won't be the dawn of cryptocurrencies.

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September 29, 2019, 06:18:45 PM
 #12

It makes no sense to worry about that
I will be simple, at the same time people can use quantum technology to break BTC, devs will use to protect BTC, and this is the same to passwords protection in general, technology will evolve for all, not only for hackers

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September 29, 2019, 07:15:05 PM
 #13

When a company like Google announces something, you can bet that they are actually 10 years ahead of whatever they announce. Their system is most likely much more strong then they admit this article. However, there is such a thing as quantum resistant Bitcoin technology. it is a work-in-progress, but when it is complete, we will have protection against quantum attacks.

Well, more like the other way around, they are probably way behind to be considered "National Security Issue". But they will get an inspection, and if its any worth, be ordered to shut up from now on. And that silent moment, is what you should fear.

Any American company can be ordered to shut up. They call those gag orders. It cannot be appealed, and defiance means prison, even warning the public. Next best they can do is close the company without telling why, which is precisely what happened to a now forgotten encrypted email provider.

Google and most certainly IBM won't close over this. IBM is already used to this game, and Google probably is by now. I bet they were just wanting to get the contract from the government first.



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Rainbot
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September 29, 2019, 09:34:46 PM
 #14

Quote
Google’s quantum computer is allegedly more powerful than the world’s top supercomputers and the performance proves just that. The quantum computer completed a calculation in 3 minutes that would have taken IBM's Summit, the world's most powerful commercial computer, 10,000 years to complete.

https://interestingengineering.com/google-says-that-they-have-just-reached-quantum-supremacy


Quantum computers are a threat for many blockchains, including BITCOIN.

Are you guys scared? Is this the gov's hidden ace against bitcoin since they can't force people to stop using it?



Nope I am not scared, I always believe if there a problems always have an solution specially in new technology and always if the bitcoin price deops can't avoid negetives side news for bitcoin including new tech.


all.
Besides, we would have far bigger problems to deal with than bitcoin.
Better worry about IT Security in general
[/qoute]



That's is true we need to always be curious the system securtity because tha is the most important thing to avoid a lot of technicality.
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September 29, 2019, 10:19:38 PM
 #15

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Google’s quantum computer is allegedly more powerful than the world’s top supercomputers and the performance proves just that. The quantum computer completed a calculation in 3 minutes that would have taken IBM's Summit, the world's most powerful commercial computer, 10,000 years to complete.

https://interestingengineering.com/google-says-that-they-have-just-reached-quantum-supremacy


Quantum computers are a threat for many blockchains, including BITCOIN.

Are you guys scared? Is this the gov's hidden ace against bitcoin since they can't force people to stop using it?

Just understand the size of a possible scandal if some government breaks Bitcoin using a Quantum computer. Bitcoin is owned by too powerful people, and in the case of a loss of billions of dollars, this can even lead to war. So I think that no one will dare touch Bitcoin now
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September 29, 2019, 11:58:53 PM
 #16

New technology does not come as a threat. But rather as a solution so that in the future it can be more useful for all of us. And we as Bitcoin users know that BTC is also a new technology that we still need to learn more about.

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September 30, 2019, 02:22:42 AM
 #17

This isn't anything scary for bitcoin, just yet, but more so the tech industry. QC means that a lot of things will be done a lot faster, and it's great that Google got this technology, instead of some black-hat hackers.

It'll take a very long time for a private key to get deciphered - give or take 8/10 years with that sort of technology, nothing really to worry about. The article you've linked above is more for FUD then to provide any actual value.

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September 30, 2019, 04:18:07 AM
 #18

Quantum computers are a threat for many blockchains, including BITCOIN.

it is not "many" it is all of them. 99% of the altcoins are also using the same asymmetric cryptography as bitcoin does usually on the same curve or a different one. there are some using RSA which is even weaker. i heard about one using a quantum resistance algorithm but i never saw the coin itself (hence the 1% i left out).

one thing about breaking elliptic curves is to find a way to solve the problem faster not to increase the speed of calculation. quantum computers at best are increasing the calculation speed not the mathematical solution which is still extremely time consuming.

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September 30, 2019, 04:47:42 AM
 #19

Why do we need to afraid with Google? They can do whatever they want because they have a resource that will help them to invented something new, and it doesn't mean to destroy bitcoin or cryptocurrency.

People invented on something that doesn't exist and their purpose to help humankind. And if that is what Google did with their project called Quantum Computer, so be it. We need to know the details, and maybe we need to wait for a while until Google can explain more about their project.

I think their project and the cryptocurrency will walk in different ways, so there is nothing to worry or afraid. But if Google wants to compete with the cryptocurrency, I don't think that will be easy because they need to create some technology which will better than blockchain technology. But we know that everything is possible and everything can happen in the future. So we shouldn't think too serious about that and see what will happen later.

 
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September 30, 2019, 06:30:37 AM
 #20

I agree with previous replies that QC should be a worry first to banks and security systems in general.

There will be new research coming up in security to mitigate a QC attack. Bitcoin will not lead the way in this, it will follow what will be implemented elsewhere.

Meanwhile, quantum computers are neither big nor expensive, they are a couple of racks for cooling and the CPU itself is surprisingly small. People don't buy quantum computers now because of the space and maintenance they need: you can remote login to one and use it in the form of software-as-a service.

Now here is the trick: instead of renting a GPUs farm on nicehash or similar, why not rent a QC?

When will someone write a QCMiner? Smiley
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