Will Google's Quantum Computer Destroy Bitcoin?

[viennemariela]

This advancement called Sycamore quantum of Google performs calculations that even the most high tech supercomputers couldn't perform. A test showed that this quantum computer solved even the most complex calculation in just 200 seconds that a supercomputer would compute for 10,000 years. Now, this technology is feared among the Bitcoin community because an article showed that it will destroy it. However, this won't be possible yet. It isn't Google or quantum computer which will destroy or track Bitcoin. It is the hackers and criminals who could use this technology for tracking blockchain-based cryptocurrencies like Bitcoin.

Full article here https://www.inc.com/eric-mack/no-google-its-quantum-computer-arent-killing-bitcoin-anytime-soon.html

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[michellee]

Of course not

All this marketing about quantum computer destroying bitcoin is ridiculous. I don't get who makes money out of this bullshit.

Maybe they are just spammy article writers who wants clicks?

Yes, I agree with you, I think it's just a hoax because until now there has been no official announcement from Google about quantum computers. and I think if a quantum computer does exist then I'm sure bitcoin developers will improve security systems and strengthen block security. I'm sure bitcoin developers will try hard to strengthen the bitcoin system and network.

We hope that people who use crypto will know that the news is not right, so they don't panic to see if the quantum computer will destroy bitcoin. They should learn from the other news about a quantum computer so they can understand what the right thing from that news is. That doesn't make sense because I am sure bitcoin will adapt to the current situations, and as you said, the developer will always upgrade the system following the growth of the technology.

[JeffBrad12]

Yes, I agree with you, I think it's just a hoax because until now there has been no official announcement from Google about quantum computers. and I think if a quantum computer does exist then I'm sure bitcoin developers will improve security systems and strengthen block security. I'm sure bitcoin developers will try hard to strengthen the bitcoin system and network.

Fake news or not I believe it's just a matter of time until we reach an unimaginable computer capability to calculate enormous number and that's technology development that can't be stopped. However, if there's any computer like that out there. i'm pretty sure that it'll not be in the hand of someone unresponsible. But, there's always a chance that it could go against any cryptocurrency so we should actually put our concern here rather than denying the reality.

[hatshepsut93]

Yes, I agree with you, I think it's just a hoax because until now there has been no official announcement from Google about quantum computers. and I think if a quantum computer does exist then I'm sure bitcoin developers will improve security systems and strengthen block security. I'm sure bitcoin developers will try hard to strengthen the bitcoin system and network.

Fake news or not I believe it's just a matter of time until we reach an unimaginable computer capability to calculate enormous number and that's technology development that can't be stopped. However, if there's any computer like that out there. i'm pretty sure that it'll not be in the hand of someone unresponsible. But, there's always a chance that it could go against any cryptocurrency so we should actually put our concern here rather than denying the reality.

From the point of view of people from the past, we currently have unimaginable computing power, when you can crack old crypto systems on your home computer in seconds, but it really doesn't mean much, because crypto systems evolve to match new challenges. Quantum computers are still extremely theoretical/experimental, but we already have algorithms that can resist them. And algorithms will keep improving in the future, so I'm sure the will have an upper hand over quantum computers.

[threadsupport]

the developer will always upgrade the system following the growth of the technology.

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.

[kaya11]

This is already asked here many times why don't you try to search it first to find out?

Anyway, here's what I found https://bitcointalk.org/index.php?topic=4666014.0

So, I think you can get the best answers under the archive link provided from the thread above.

I will read the archive later after I am done with my home works, but for now I am wondering if the recent price is connected to googles being able to make a chip that can be a super computer and break through Bitcoin. What if it is not true and just making things just to bring down the price of bitcoin and other crypto currencies?

[13abyknight]

I will read the archive later after I am done with my home works, but for now I am wondering if the recent price is connected to googles being able to make a chip that can be a super computer and break through Bitcoin. What if it is not true and just making things just to bring down the price of bitcoin and other crypto currencies?

Google has nowhere mentioned that their Quantum Computing capabilities will be put into use towards the cryptocurrency sector and it is very likely to remain the same. There are much better places for it to be utilized which extends mainly to scientific simulations especially in Physics. With that said, there could be a small possibility of Google going full monetary-headed and put it to use in the economic industry to directly to push their stock values up.

[Abiky]

From the point of view of people from the past, we currently have unimaginable computing power, when you can crack old crypto systems on your home computer in seconds, but it really doesn't mean much, because crypto systems evolve to match new challenges. Quantum computers are still extremely theoretical/experimental, but we already have algorithms that can resist them. And algorithms will keep improving in the future, so I'm sure the will have an upper hand over quantum computers.

Exactly. Algorithms and technology will continue to improve over time. We may have seen the advent of Quantum Computing, but existent technologies could adapt to this trend in no time. Bitcoin could easily implement a quick fix to become resistant against Quantum Computing attacks. I'm sure many miners will agree to this change, as their money is at stake. In the case of Google, I believe that the company has been full of hype than anything else. Their claims of "Quantum Supremacy" must be questioned, in order to determine with precision the impact it'll have over traditional (classic) computers of today. Slowly but surely, Quantum Computing will improve to a point where they'll be able to replace existing computers. Google might as well use its own Quantum Computer for good instead of evil. The field of Quantum Computing can be extremely beneficial for the improvement of Blockchain technology's performance within the mainstream world.

Considering that Quantum Computers are still in their infancy, they don't pose a threat to existing cryptocurrencies yet. Developer teams of prospective cryptocurrencies (like Bitcoin and Ethereum) should take a step further by implementing Quantum-resistance before Quantum Computers become a real threat to the Blockchain industry. We still have plenty of time, so I wouldn't worry much about Google's Quantum Computer destroying Bitcoin today. Just my opinion

[gabbie2010]

Everybody started to be afraid of the possibility that super computers can destroy Bitcoin. I don't think that super computers are being developed for the aim of finishing Bitcoin. They are developed to be way better in performance than normal computers.

As per the experts, it will be too early for now to be afraid, it will take few years before it happen. So, we should not be afraid now, we can still enjoy the benefit of blockchain.

Panicking with this will just lead to us to lose our focus with what we are doing. Lets not worry and go with the flow for now.

Honestly I am also scared of the so-called quantum computing and it capability in quashing blockchain I read an article where it was stated that Google had used it to solve a mathematical problem that had remained unsolved for many years, I believed the evolvement of this computing system would surely threaten blockchain technology in the nearest future.

[ohyeahhaha122]

I think that at a time when quantum computers can directly affect cryptocurrencies, the developer community will always have changes to advance so that they cannot be affected by anything. Everything will always change to survive

[Abiky]

Honestly I am also scared of the so-called quantum computing and it capability in quashing blockchain I read an article where it was stated that Google had used it to solve a mathematical problem that had remained unsolved for many years, I believed the evolvement of this computing system would surely threaten blockchain technology in the nearest future.

This quantum computer by Google, could threaten Blockchain technology in the future. But I don't think Google will be able to achieve this, as crypto will adapt to the latest trends in cyber space. The quantum computer could be used for good instead of evil. If put up to good use, Blockchain technology's performance and security will rise like never before. Before quantum computing becomes a threat to Bitcoin, I believe that developers will integrate quantum-resistant signatures into the Blockchain. I'm sure that most (if not all) miners will agree to this change since their money is at stake. A simple hard fork will make Bitcoin immune against quantum computing attacks.

Other blockchain networks have taken a step ahead by adopting quantum-resistant signatures. Nexus (NXS) is already quantum-resistant, as well as, the Quantum Resistant Ledger (QRL). These cryptocurrencies could serve as an "escape route" in case the Bitcoin blockchain becomes compromised by Google's quantum computer. But I doubt that there will be the need to migrate to these other chains in the future. In the end, it'll be impossible to destroy Bitcoin no matter how hard mainstream companies (and governments) try. The pioneer cryptocurrency will be here to stay thanks to its massive community support and high hashrate for security against 51% attacks. Just my opinion

[hv_]

Nope, don't get paranoid

[BitHodler]

Nope, don't get paranoid

People have been getting paranoid about quantum cumputing for many years now. I think the main problem is how news outlets present their "research", which is by turning every article into a clickbait moneygrab.

The more of a problem you make out of quantum computing as news outlet, the more likely it is that people click on it because they fear their investment in Bitcoin might become worth zero.

The whole crypto space would be a better place without greedy news outlets.

[Sendoku]

First of all, there were no official announcements on this topic from Google. I'm sure they would've scream about it if some real breakthrough had happened. Moreover, even if they succeed, there's at least a decade to unfold this tech before it starts working