Would Quantum Computer Kill Bitcoin

[joinfree]

As per the latest, Google has reached Quantum Supremacy. Meaning it could potentially decode an entire blockchain and...
YOUR PRIVATE KEYS...
Blockchains are secured through elliptic curve cryptography (ECC), just like encrypted user data and website traffic. Now the issue is that ECC is NOT "quantum-safe" meaning that a quantum computer could theoretically decrypt a user's private keys and forge transaction signatures.
Is this the end of Crypto?
I don't think so, but I'd love to hear your opinions too! (Especially the opinion of a cryptographer)

source https://www.coindesk.com/what-googles-quantum-supremacy-means-for-the-future-of-cryptocurrency

[goto22]

Well, in theory it could happen, although that doesn't mean that it will. I suppose, if quantum computing becomes a widespread thing, developers will just find a way to use it to strengthen crypto, and fight fire with fire. I'm not a developer or a cryptographer myself, so I can't tell if quantum computing can be used to strengthen BTC, although i would assume that someone will find a way if it can be done. At this point, i think we simply don't know enough about it to say anything for certain.

[CryptoBry]

I am not a cryptographer myself so maybe here we are just discussing on a normal guy's level. As far I know, quantum computing really has the potential to successfully decrypt the private keys and therefore can be the biggest threat to Bitcoin. In the past few days, this topic got spread around because Google announced that they already have the technology at hand which many of us supposed  should still be years ahead. Now, there is that fear in the Bitcoin community on quantum computing and whether this can really be utilized against Bitcoin which can be its end. Nobody can really be sure if the quantum computing developed by Google can effectively be the one to stop Bitcoin. This can be the one we can only wait and watch. As the technology is on the hands of Google, I don't think they will be irresponsible to just use it indiscriminately as this will have many legal repercussions which the company will not want to go through. On the other hand, we have to remember that if there is a demand someone will eventually fill the shoes therefore we should be expecting developers to come up with ways to counteract the power of quantum computing to balance things out. And this can actually make things exciting.

[Astvile]

We know bruteforcing using a quantum computer is really a threat specialy on bitcoin because our wallets are base on private keys which are sets of numbers and letter which can be easily decrypted by a monstrous machine with very high processing capacity like quantum computers and its still developing so we can expect way faster super/quantum computer in the future and that will be a big problem if they use it in with the aim of decrypting a wallet or the network itself

[funchiestz]

I've written similar things in another topic before. Why everyone is looking at the negative. We are talking about a computer with a very large processor power. Can you imagine the peak that mining can reach?

[elda34b]

This has been discussed many times already. In short: no. There is Lamport signature, no address reuse, and other strategies to fix this.

Use the f*cking search button and you'll know there are at least 3 threads about this.

[MetalGear]

As per the latest, Google has reached Quantum Supremacy. Meaning it could potentially decode an entire blockchain and...
YOUR PRIVATE KEYS...
Blockchains are secured through elliptic curve cryptography (ECC), just like encrypted user data and website traffic. Now the issue is that ECC is NOT "quantum-safe" meaning that a quantum computer could theoretically decrypt a user's private keys and forge transaction signatures.
Is this the end of Crypto?
I don't think so, but I'd love to hear your opinions too! (Especially the opinion of a cryptographer)


source https://www.coindesk.com/what-googles-quantum-supremacy-means-for-the-future-of-cryptocurrency

Quantum computings biggest rumored ace against bitcoin is its ability to break a blockchain encryption and might expose private keys that could mess up everything in crypto world. But blockchain news keeps on assuring that released versions of quantum computing can't break blockchain. Although existing versions of quantum computing doesn't have the latter ability, crypto space should get ready for one that has the ability to decrypt blockchain. In case that such events occured, that might trigger the official downfall of bitcoin if not a single move to counter the threat will be done.

[mr3dds]

What u wrote means the ending of non ecc secured blockchain are fading away.
I still don't know how those quantum computers work, but I will do my research.
Is there any ecc secure blockchain?

[aplistir]

As per the latest, Google has reached Quantum Supremacy. Meaning it could potentially decode an entire blockchain and... YOUR PRIVATE KEYS...

Quantum Computer that is large enough would be bad for bitcoin, as it could get private key from your public key. But If you use bitcoin as recommended and you do not re-use your addresses, your public key is not visible, and even a big QC cant get your private key.

So if you use bitcoin as you should, your coins would still be safe.

Creating a bigger QC gets exponentially harder as the size increases. That is why building a QC big enough will take a lot of time, if it can ever even be made.
Googles QC was build for single purpose only and it is tiny  compared to what would be needed for cracking bitcoin. And also the calculation it made was quite different. It "proved" that something can't be done. Did it really prove that or were they a little optimistic at google? It is much easier to prove calculation to be correct, when you get a concrete result form it  

Also. QC would be really really bad at mining because SHA256 algorithm is considered quantum safe. Probably your laptop would be faster at mining than a QC

The real threat a large QC poses to bitcoin is the addresses that have their public keys visible. ALL of the big exchanges  keep their coins in addresses that are re-used, with visible public keys. And those addresses have loads of bitcoins. The 4 biggest ones have more than 100000BTC in each of them. That is more than 400000BTC. And lets not forget the 1M coins in Satoshi's addresses.
If someone steals all of them, that would make havoc to the value of bitcoin

[dothebeats]

Countless of times has this been discussed on this very forum, but for the sake of you getting some answers (which would obviously be rehashed versions of older ones, since there really aren't any number of ways to put it), short answer: yes, theoretically. The bigger question is what would be the reason of people behind this computing power in destroying bitcoin apart from monetary gains which, in itself isn't really a great prospect at all?

Also, before the men who wield such power be able to break into ECC, pretty sure everyone and their mothers using the said encryption system would have migrated to something else.

[aplistir]

The bigger question is what would be the reason of people behind this computing power in destroying bitcoin apart from monetary gains which, in itself isn't really a great prospect at all?

Also, before the men who wield such power be able to break into ECC, pretty sure everyone and their mothers using the said encryption system would have migrated to something else.

Why would everyone have migrated to using something else, if the BIG break comes unexpectedly. Do you really think  NSA or whoever would publish that they can break a popular encryption.
AND that is of course the reason they would not crack bitcoin, because they would want to keep their ability a secret

[target]

Such topic keeps coming back in the forum that I'm almost convince there really is a threat to bitcoin. If these quantum computer can hack Bitcoin wallets that means our funds will also be in dangered. This ECC being not safe according to the article which the QC can decrypt private keys is a threat but how do we believe all these considering all the fuds spread before weren't actually true.  Will multisig make us safe for now?
 

[Wexnident]

As per the latest, Google has reached Quantum Supremacy. Meaning it could potentially decode an entire blockchain and...
YOUR PRIVATE KEYS...
Blockchains are secured through elliptic curve cryptography (ECC), just like encrypted user data and website traffic. Now the issue is that ECC is NOT "quantum-safe" meaning that a quantum computer could theoretically decrypt a user's private keys and forge transaction signatures.
Is this the end of Crypto?
I don't think so, but I'd love to hear your opinions too! (Especially the opinion of a cryptographer)

source https://www.coindesk.com/what-googles-quantum-supremacy-means-for-the-future-of-cryptocurrency

It could. But that's it. It just could. Theoretically anyway. And even if that time could come, blockchain itself would have improved immensely and would have made precautions regarding quantum computers. Just like in the source you gave, Canada has already made baby steps towards the prevention of such thing from happening.
Also bro, this has made the forum quite a few times now, you should just probably look it up here and check some of the posts out. or i can just post it here, as such
https://bitcointalk.org/index.php?topic=5188910.0
https://bitcointalk.org/index.php?topic=5186831.0

[Kyraishi]

Not really possible, unless we are talking a super, super beefy computer if we are talking about brute forcing a BTC private key, which takes thousands of years with the best of today's hardware, BTC was made to be pretty future-proof with it's pretty hard to decipher private keys, but I guess in the next years we will see how safe it was made to be.

As for Quantum technology, even though we are moving pretty fast with technology and we've sorta been stuck in the computer industry for a long time, with the only really big breakthrough that could be made being Quantum tech, it's definelty a long way from being an actual thing, and I'm hoping we'll see changes that will help BTC survive when the time does eventually come.

[Duzter]

As per the latest, Google has reached Quantum Supremacy. Meaning it could potentially decode an entire blockchain and...
YOUR PRIVATE KEYS...
Blockchains are secured through elliptic curve cryptography (ECC), just like encrypted user data and website traffic. Now the issue is that ECC is NOT "quantum-safe" meaning that a quantum computer could theoretically decrypt a user's private keys and forge transaction signatures.
Is this the end of Crypto?
I don't think so, but I'd love to hear your opinions too! (Especially the opinion of a cryptographer)

source https://www.coindesk.com/what-googles-quantum-supremacy-means-for-the-future-of-cryptocurrency

From the article that I went through it looks like a hard thing for quantum computer to kill bitcoin. Quantum Computer performs much faster than other computers that are highly powerful. Also in the article it is mentioned we're far away from breaking the bitcoin for various reasons.

Reference Link of the article : Could Google Be About To Break Bitcoin?

[Moiyah]

First of all, let us clear that Quantum computers are still not yet invented they still trying to, for they believe it is the answer to fade away cryptocurrencies evolution as they want it to govern by someone. The clear intention and potential of the output if it is successfully invented is still not fully known.  

I have read in this website about how bitcoin's defense in quantum computer's possible problem.

Bitcoin’s protocol was designed with quantum computers in mind, and therefore has some built-in resistance. Bitcoin uses a SHA-256 hashing algorithm, which is considered partly quantum-proof.

Therefore, it is not be the end of bitcoin if quantum computer will be invented few years from now.

[Darooghe]

I could say from my knowledge that this is a serious issue and there is no solution that would not harm BTC value. first, BTC upgrades, but the coins on lost addresses don't migrate to quantum resistant addresses and stay vulnerable. Eventually BTC might get hacked. That would cause a market reaction.
second, You create a deadline within people will need to move their BTC to QR addresses. After the deadline the leftovers will be burned. The problem is that in that scenario, you don't know which coins are on lost addresses and which coins are from people who have not migrated yet for whatever kind of reason. Not everybody is part of "the community", some just glance at the price every now and then and don't follow technical development. Investing in BTC doesn't obligate you to have a bitcointalk account. And there is no preset condition that obligates you to keep up with the developments. So developers would not have the right to burn your coins if you don't migrate in time. It's a legal issue inside BTC community.

[blckhawk]

As per the latest, Google has reached Quantum Supremacy. Meaning it could potentially decode an entire blockchain and...
YOUR PRIVATE KEYS...
Blockchains are secured through elliptic curve cryptography (ECC), just like encrypted user data and website traffic. Now the issue is that ECC is NOT "quantum-safe" meaning that a quantum computer could theoretically decrypt a user's private keys and forge transaction signatures.
Is this the end of Crypto?
I don't think so, but I'd love to hear your opinions too! (Especially the opinion of a cryptographer)

source https://www.coindesk.com/what-googles-quantum-supremacy-means-for-the-future-of-cryptocurrency

It would not be an easy ending for bitcoin. On theory, it could crack ones private keys. But researchers of blockchain security are aware of this and started their progress on developing quantum-proof cryptography. If thieves could have access to such computing power in the future, it's no wonder that security would also tighten up for bitcoin as they can also use it to develop more complex algorithms of encrypting private keys. As of now, those leaks mean nothing since we still doesn't see quantum computers in action.

[crypthough]

Theoretically possible, but I think that it's also possible to find a solution. Beyond that it's at the moment and in the nearly future very hard and expensive to get a quantum computer and besides that a quantum computer must be developed for the purpose of destroying bitcoin (to solve SHA256), with a normal quantum computer, you don't have the "instruments" to solve SHA256 you have to develop a special system for the quantum computer. In my opinion the effort is too big for most of the people. Furthermore, quantum computer's can also be used to attack other things like bitcoin nearly everything could be hacked, and there are some big banks for instance, which would be more profitable and easier to attack.

[Eugenar]

Theoretically possible, but I think that it's also possible to find a solution. Beyond that it's at the moment and in the nearly future very hard and expensive to get a quantum computer and besides that a quantum computer must be developed for the purpose of destroying bitcoin (to solve SHA256), with a normal quantum computer, you don't have the "instruments" to solve SHA256 you have to develop a special system for the quantum computer. In my opinion the effort is too big for most of the people. Furthermore, quantum computer's can also be used to attack other things like bitcoin nearly everything could be hacked, and there are some big banks for instance, which would be more profitable and easier to attack.

As per reading some articles concerning the Google's quantum computer, I think what they are pertaining to the specific quantum computer that 'reached the quantum supremacy' is the 72 qubits quantum computer. In my opinion, with that specific Technology, it is not possible to decrypt private keys, and password even though the computing power is too much. The reason behind is because google isn't allowing external users to use their quantum computer, and also, it is not open source in some point that, only certain program can run through it.

[bitcoinst]

A quantum computer is an extremely expensive thing, which means that only corporate giants such as Microsoft, IBM, Google, Alibaba and others like them can own it.
Hackers will not be able to access resources for hacking such a computer, and moreover they will not be able to have at their disposal a whole quantum computer.

[NathanJB]

There is already a thread here in this same section which discusses about quantum computers not too long ago. There is no need to duplicate topics. But anyway, let me say my piece on this. This is more of a talk of the town for the past weeks or so. But then more of this talk does not actually exist in reality. More of this talk is only found in the imaginations of people who are mostly idle or fond of turning otherwise normal developments into a much more complicated one.

[Arsenyo]

It is unlikely that quantum computing technology will fundamentally threaten the existence of bitcoin. Each year, when new hardware is released, appears a lot of concerns about the blockchain’s integrity, but there is actually no evidence that quantum computing can compromise blockchain. I don't believe it.

[Artemis3]

I am not a cryptographer myself so maybe here we are just discussing on a normal guy's level. As far I know, quantum computing really has the potential to successfully decrypt the private keys and therefore can be the biggest threat to Bitcoin. In the past few days, this topic got spread around because Google announced that they already have the technology at hand which many of us supposed  should still be years ahead. Now, there is that fear in the Bitcoin community on quantum computing and whether this can really be utilized against Bitcoin which can be its end. Nobody can really be sure if the quantum computing developed by Google can effectively be the one to stop Bitcoin. This can be the one we can only wait and watch. As the technology is on the hands of Google, I don't think they will be irresponsible to just use it indiscriminately as this will have many legal repercussions which the company will not want to go through. On the other hand, we have to remember that if there is a demand someone will eventually fill the shoes therefore we should be expecting developers to come up with ways to counteract the power of quantum computing to balance things out. And this can actually make things exciting.

If you are a cryptographer you must have known about this way before most "common folk" that recently panicked over this "news". I do not believe what they say that Satoshi did not know about this, i'm sure that was discussed back then, i certainly knew and i am no cryptographer or cypherpunk tho i did read their writings from time to time.

This was very theoretical as you say, and people were already writing programs that would run in these theoretical machines, years later there were even simulations with classic computers (which of course were way too slow but they were just testing concepts anyway).

Well this was years ago, and time didn't stop. If google didn't mention a thing (like IBM), did you think no advances were being made? I clearly remember when the first few qbit machines started becoming operational, but of course almost nobody knew what that meant...

But here, years later, you bring the exact same excuse. Its still theoretical, lets wait. Actually, the wait is over, the writing is on the wall. Panic is for fools, there is still time to act, but act you must, not sit still and wait the next decade to learn that, sure, some agencies already are decoding everything online.

There are proposed mitigations to improve Bitcoin resistance to quantum attack, those should be revisited, now that there is time, and not wait for later.

We are still too far from quantum crypto (hardware unavailable to the masses), but even that should be considered. This is the solution to quantum breaking crypto, this side most people don't know a thing about either. But in the meantime, those (classic computer) algos that make it hard for quantum attacks, should be implemented. Transition times indeed...

[SaShiRaJaVu]

It is unlikely that quantum computing technology will fundamentally threaten the existence of bitcoin. Each year, when new hardware is released, appears a lot of concerns about the blockchain’s integrity, but there is actually no evidence that quantum computing can compromise blockchain. I don't believe it.

If some crazy billionaire is spending a huge amount of money to destroy bitcoin, then it might be possible but what is the point of breaking something by spending huge amount of money. The fact is that the quantum computing is just a dream but technology is changing pretty fast and with those changes we will have better secure technologies too.

A quantum computer is an extremely expensive thing, which means that only corporate giants such as Microsoft, IBM, Google, Alibaba and others like them can own it.
Hackers will not be able to access resources for hacking such a computer, and moreover they will not be able to have at their disposal a whole quantum computer.

Suppose if anyone use those resources to break bitcoin then they can be prosecuted for theft.

[marky89]

I do not believe what they say that Satoshi did not know about this, i'm sure that was discussed back then, i certainly knew and i am no cryptographer or cypherpunk tho i did read their writings from time to time.

I'm sure Satoshi was aware that computing power might improve over time and that cryptographic standards might become vulnerable. That possibility just wasn't worth burdening Bitcoin with something so unwieldy as Lamport signatures, which are much worse for scaling. He probably figured, "cross that bridge when we come to it."

[Wintersoldier]

As far as I know, quantum computer's processing power is increasing exponentially. Through that, its capability to decrypt password or keys from cryptocurrency with an algorithm is quite impossible. But in terms of security of the blockchain, I think it depends upon the hashes of every mining computer around the world. Not all people have their access since google's quantum computer is not open source. I still believe that bitcoin is still superior because of the blockchain. Output depends on the previous and the only way I can think for it to be manipulated is through going back in time.

[fiulpro]

First thing we should understand that nothing in the IT world is safe only , everything has some downsides , when we think about quantum computers and all they can definitely hack into blockchain and then make everything a mess but we should understand that
Hacking , is not legal like this.

When we talk about ethical hacking and all there no one teaches you how to hack in someone else's bank account.

You should understand that you shouldn't worry about new softwares being invented but rather worry about the old one getting updated .

[squatter]

Now the issue is that ECC is NOT "quantum-safe" meaning that a quantum computer could theoretically decrypt a user's private keys and forge transaction signatures.
Is this the end of Crypto?
I don't think so, but I'd love to hear your opinions too! (Especially the opinion of a cryptographer)

Here's what Bitcoin developer Pieter Wuille said a few months ago:

Any unconfirmed transaction in flight exposes public keys, so if a QC exists, at least moving coins around safely becomes impossible. Further, a massive fraction of the currency supply can be taken. Lastly, you likely have exposed your own pubkey already.
https://twitter.com/pwuille/status/1133539556936912896

If there's ever evidence of theft due to a QC, and 5M BTC are readily available for the taking to such a hypothetical machine, do you think BTC will still have any value left?
https://twitter.com/pwuille/status/1133537183854239745

It sounds pretty grim. I didn't realize that P2PKH outputs weren't really secure against hypothetical quantum computing attacks. On top of that, the pubkey problem is really bad. Anyone who has shared an xpub, used Electrum, etc. has exposed pubkeys. It's not just early P2PK outputs or reused addresses.

[Lalafell]

As per the latest, Google has reached Quantum Supremacy. Meaning it could potentially decode an entire blockchain and...
YOUR PRIVATE KEYS...
Blockchains are secured through elliptic curve cryptography (ECC), just like encrypted user data and website traffic. Now the issue is that ECC is NOT "quantum-safe" meaning that a quantum computer could theoretically decrypt a user's private keys and forge transaction signatures.
Is this the end of Crypto?
I don't think so, but I'd love to hear your opinions too! (Especially the opinion of a cryptographer)

source https://www.coindesk.com/what-googles-quantum-supremacy-means-for-the-future-of-cryptocurrency

Humanity currently does not have any technology necessary to create a quantum computer large enough to attack Bitcoin keys. It is not known how quickly this technology will advance; however, cryptography standards such as ECRYPT II tend to say that Bitcoin's 256-bit ECDSA keys are secure until at least 2030-2040. Blockchain companies: IBM, Google and a number of other technology giants are the current movers in developing quantum computing. It is likely that they will not enable users of quantum computing to crack bank-encryption or blockchain. “To do so is illegal and would destroy those companies, by 2025, up to 10 percent of the global gross domestic product will probably be stored in blockchains. Quantum computing is a threat to technology blockchain because it increases the fundamental security assumption of elliptical curve cryptography, namely that computers cannot effectively factor large numbers.

[Alexandr Kirichenko]

I don't think that's something to worry about, at least not right now. In the next 5 years, I think this threat will not be exactly. In the future, who can say that the same quantum computer will not be able to make the Bitcoin network more secure from the vulnerability of the Quantum computer.

[figmentofmyass]

Suppose if anyone use those resources to break bitcoin then they can be prosecuted for theft.

no they can't. it can't be proven that coins taken in this manner were stolen at all. there would be no evidence of hacking or theft; there would be nobody to prosecute. it's the perfect crime.

in fact, it's debatable whether it's theft at all. pubkeys are publicly available so bruteforcing them doesn't require "taking" anything from the victim. they are more so attacking the pubkey-privkey system.

[Mike Mayor]

This is an interesting question. If quantum computing becomes this powerful then how will we protect our important data? Passwords would no longer work? The computer would crack any algorithm a human can think of so does this mean we will need physical verification such as a retina or fingerprint scan? That's scary that passwords would not be safe anymore. Bitcoin wouldn't work anymore and most other things too. After all what code would be safe if this quantum computer can just crack it?

[darkangel11]

This is an interesting question. If quantum computing becomes this powerful then how will we protect our important data? Passwords would no longer work? The computer would crack any algorithm a human can think of so does this mean we will need physical verification such as a retina or fingerprint scan? That's scary that passwords would not be safe anymore. Bitcoin wouldn't work anymore and most other things too. After all what code would be safe if this quantum computer can just crack it?

This is a game hackers and programmers have been playing for decades. If you had a computer from the 80s with all its security and had a chance to use a modern computer and a modern hacker to break into it you would succeed without problems. Now people think that quantum computers that aren't even usable will break Bitcoin's encryption. By the time they become used for that purpose Bitcoin will be in another era.

Now you're comparing a technology from 2010 with a technology that could be online in 2030. In 2030 Bitcoin will be upgraded so much that it will be able to withstand a quantum attack.

[boltz]

Not gonna happen but imagine the amount of mining power that it can generate , that would be a threat for sure. Besides that, quantum computer is not here to kill Bitcoin or even to threat it as the tech it has was build for another sectors and so far there are only 2 knowing brands that posses something like this. The quantum tech is still in development and maybe in some years we can talk about how it can threat the bitcoin future,replace it ,kill it or even help out in the security system because anything is possible regarding this gigantic technology that took us by surprise.

[lighpulsar07]

Well yeah a quantum computer can solve a sha 256 algorithm within a second from the articles about quantum computer online although don't be worry a quantum computer is costly and only a huge companies like google can build and own one and no one ordinary person can build or buy a quantum computer anyway just relax and don't panic.

[timerland]

I think it'll be a pretty big risk to assume that BTC would be safe when quantum computers come around, using today's gear, it'll obviously almost be impossible to decipher someones private key, but with quantum computers, almost anything is possible.

The real question here is when are they becoming a real thing? We've talked and theorised about this technology, but I don't think we'll see anything that powerful until 20-30 years.

[bounty.bn]

We have heard a lot about Bitcoin dying. There are so many new blockchain platforms out there and also want to beat Bitcoin for over 10 years. Of course nothing is everlasting. In theory, Bitcoin can be defeated, but actually Bitcoin still exists and is getting stronger. So with what we see Bitcoin developing, it can't be beaten by Quantum. And I am confident that Bitcoin will be more and more powerful and improved in the future and at least 100 years more or even more...

[7788bitcoin]

I think it'll be a pretty big risk to assume that BTC would be safe when quantum computers come around, using today's gear, it'll obviously almost be impossible to decipher someones private key, but with quantum computers, almost anything is possible.

The real question here is when are they becoming a real thing? We've talked and theorised about this technology, but I don't think we'll see anything that powerful until 20-30 years.

Hypothetically we can kill anyone with the help of quantum computers and the entire system can be hacked and we might see cyber war on a larger scale where countries will try to hack their enemies financial system and so on. These are all hypothetical scenarios and anything is possible in the future but for that to happen first there must be billions spend on testing and creating the perfect machine to hack the current security systems and if they try to come up with powerful technology in the next 20 to 30 years the security protocols will also gets updated.

[rahmatullah9305]

When viewed from the rapid development of technology, one day surely bitcoin can be vulnerable too. But not all things have a bad impact, if in my opinion there is a positive side too, bro. quantum computers in one computational step can carry out mathematical operations on 2N different inputs stored in coherent N qubit superpositions. For the same thing, a conventional computer must repeat a number of operations 2N times or must use 2N conventional processors that work simultaneously. Quantum computers offer a tremendous increase in the use of two main computing resources, namely time and memory.
If quantum computerization is included in the operation of data I think bitcoin is not vulnerable because bitcoin is difficult to track because it is anonymous.

[panganib999]

As per the latest, Google has reached Quantum Supremacy. Meaning it could potentially decode an entire blockchain and...
YOUR PRIVATE KEYS...
Blockchains are secured through elliptic curve cryptography (ECC), just like encrypted user data and website traffic. Now the issue is that ECC is NOT "quantum-safe" meaning that a quantum computer could theoretically decrypt a user's private keys and forge transaction signatures.
Is this the end of Crypto?
I don't think so, but I'd love to hear your opinions too! (Especially the opinion of a cryptographer)

source https://www.coindesk.com/what-googles-quantum-supremacy-means-for-the-future-of-cryptocurrency

Spreading news, articles, or anything about quantum computing going to crush down blockchain because of  its ability of decrypting private keys and breaking blockchain supported security might affect bitcoin's reputation and users for it might deploy panic and scare to investor, traders and users. Because one of  the biggest asset of bitcoin is the anonymity it gives to every transaction and user's addresses, and losing it might affect bitcoin big time. But, this claim could not be possible if people behind blockchain will take an action to counter the threat.

[legok]

i hope thats not will be reall... bitcoin have grow in the world...

[jarhed]

Very likely, but it takes more time! Quantum Computer is too expensive at the moment! Not suitable for trying to find private keys

I am sure that the Bitcoin network will find a way out of this problem in the coming years and will have very reliable protection against quantum computing. Bitcoin will always be ahead and the most innovative and secure.

[sandra_x]

Quantum computing can pose a problem for Ellyptic curve cryptography in the future. Bitcoin in a way already has some sort of safe guard against this. As a precaution, if you do not use the same bitcoin address more that once, it makes it extremely difficult to  crack your private keys. In any case, bitcoin is community-driven and a better security layer will be implemented when ECC becomes practically vulnerable. Quantum computing cracking encryption is not just a bitcoin problem, it will affected more serious segments such as military defense systems, finance etc

[peter0425]

Very likely, but it takes more time! Quantum Computer is too expensive at the moment! Not suitable for trying to find private keys

I am sure that the Bitcoin network will find a way out of this problem in the coming years and will have very reliable protection against quantum computing. Bitcoin will always be ahead and the most innovative and secure.

Yups because bitcoin is design for future and only a quantum computer can kill this so what’s the sense of having this?i am sure this won’t happen and we still have time to prevent this from happening

i hope thats not will be reall... bitcoin have grow in the world...

Yeah it won’t ,let’s leave this to the experts than can make this not possible

[djsugar]

The strength of crypto is its cryptographically secured ledger which can't be viably breached at this point. Quantum computers will make it economically viable to break the cryptographic algorithm which will make blockchain obsolete in case some updating isn't done to fight it. So, the fear is legit that quantum computers will kill BTC. But it is way too far from reality as of now.

[doomistake]

*heavy sighs*

This quantum computer will definitely destroy bitcoin, altcoins and even blockchain if the Government will successfully made this in the future (I hope they don't), even if quantum computer are just still theories, it scares me because we're saying goodbye to the foundation we made with bitcoins and other cryptocurrencies. Imagine the government having this, they could easily manipulate and control the entire blockchain or even destroy it.

Disclaimer: Let's withdraw all of our cryptocurrencies into fiat before this happens (let's pray for blockchain)

[crossabdd]

from some of the media that I read, Google and IBM have made quantum computers but are still small scale, around 50-60 qubits. while the bitcoin blockchain has a qubit of around 100, so at the moment the bitcoin blockchain cannot be solved. but it could be possible because in calculations it would take another 10 years to create a quantum computer that could break the Bitcoin Blockchain. so I think one day bitcoin will be hacked (broken code) because it has obsolete technology.

[bounceback]

I can't be sure clearly but in my opinion, Google's quantum computer doesn't have much impact on bitcoin because the supremacy of quantum computers only shows that quantum computers can solve very complex mathematical problems and mathematical problems are actually not the same as the context cryptography on the current blockchain.

[bitcoinposts]

They are reports that quantum computer has nothing to do with bitcoin it is just a rummor got spread on internet in reality it has nothing to do with bitcoin

[Aying]

Very likely, but it takes more time! Quantum Computer is too expensive at the moment! Not suitable for trying to find private keys

I am sure that the Bitcoin network will find a way out of this problem in the coming years and will have very reliable protection against quantum computing. Bitcoin will always be ahead and the most innovative and secure.

Blockchain system will improve, and bitcoin will do as well. and there is no possibility that quantum computer will help us. because quantum is easily to control and everyone will not blessed to have this expensive system. who can have this is those multi-billionaire campany's. and its not suitable for everyone's need especially in crypto industry. no need to worry about this advance quantum computing system.