Quantum supremacy. Is your trade (coins) Quantum resistant?

[ifinta]

FYI

https://www.sciencenews.org/article/google-quantum-computer-supremacy-claim

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[lobat999]

There has been so much controversy in crypto-space surrounding quantum computing and its effects on cryptocurrencies especially with Bitcoin! Now I find it weird that there are projects claiming to "quantum computing resistant" where in fact, the project still have to prove itself and be tested with quantum computers to see if it can break it or not! So how do we know or prove that it is indeed "quantum resistant"? We can't for now, at least for the moment.

And this is very ironic since quantum computing technology is still at its early and experimental stage and I guess it will take years before it will be commercially available and operational.

I also think this is ridiculous since I find this scenario  analogous to a car claiming to be bulletproofed when in fact the bullet and the gun hasn't been invented yet to test it!

[Ayiranorea]

There is quantum supremacy, but the bitcoin network is strong enough to bear the quantum computing. Maybe over the next ten years this will get much advanced. What we see from Google is just the beginning to the quantum computing development. The valuation of these computers were done in Quantum Bits. To break the bitcoin it requires at least 1500 Quantum Bits, while the present quantum computer has got only 53 Quantum Bits. This way we can consider it the very early days for the advancing of quantum computers.

[NathanJB]

The fear that this technological development caused to certain crypto supporters have come much earlier than its actual achievement. Projects are very much aware of this development. And even if there will still be decades of development needed for quantum computers to actually reach its more or less perfect form, existing projects must already have a sort of plan for it. Quantum technology in computers is a welcome development over all. There is nothing to fear for this. Encryption will also be keeping up with this.

[CryptoBry]

Quantum computing has been generating some good amount of buzz lately especially in connection with cryptocurrency because once the whole thing can be deciphered by supercomputers then it can crack just like a boiled egg. And that can be the end of cryptocurrency as we know it. But are really there already?  Maybe yes or no but the fact that cryptocurrency has not yet been affected that can mean that we are just dealing with hypes for now.

I am sure that the time is coming when supercomputers can be widely available to all as this is the direction that computer technology is heading. But am sure that there will also be technologies already being tested to protect cryptocurrency from being victimized by quantum technology. Remember that if there is a demand, soon a supply will come near it. Let's just continue watching this saga of quantum computers versus cryptocurrency. Hell, I think, both technologies can even be friends and joining hand in hand soon.

[Wexnident]

It's already quite clear in the article that you posted that such events are still far off in the future. Naturally, BTC and other coins that are to be released by cimpanies as well as current altcoins available are aware of the abilities of quantum computers. Naturally, they would then prepare for such events in the future that could potentially prevent quantum computers from cracking encryption techniques. As quantum supremacy develops, crypto alao develops. Crypto may even use quantum supremacy to develop more even.

[avikz]

This matter has already been discussed hundred times here in bitcointalk. I understand, if a quantum computer with 256 qubit of processing power is developed, it will have the power to break Bitcoin's encryption within minutes. But do you think that a global tech giant would take any such step. Don't the fear retaliation as well as the reputation loss??

It's highly unlikely that a quantum computer will ever be used to destroy cryptos. Take example of Nuke bomb. A lot of countries posses nuke warheads, but do they use it in reality? We don't need to worry about this at all!

[ifinta]

FYI

About IOTA, a quantum resistant SCAM:

If you detected, I am a member of a project for IOTA, just consider a such project SCAM.

i.e. with this foto, as a member, i.e. "Product Owner" or similar...

If you already got a such scam, please ask the team again, and if they don't deleted my photo - please post here the project and the details, what do you know already about the scam...
Many thanks for everybody.

https://i.imgur.com/EauTN2Q.png

Sorry, i have tried to read what you just wrote up the but i have failed to understand. Do you mean to say IOTA put up your profile claiming that you are part of their team?

It can be, somebody trying to scam others, "ifinta a member a project, which supports IOTA". IOTA is a scam, I am engineer, if I detected a project as a SCAM, I don't support it any more...
I think IOTA will be implemented (maybe?), as it "needed", as quantum computers will be ready to attack i.e. Bitcoin network. Up to this time many scientists (and fraudsters also) will be earn well from both projects.
Maybe more scientists working on quantum computers... Please see other opinions also about the projects:

https://bitcointalk.org/index.php?topic=5195405.0

 

[target]

Google had already claimed a break through to this quantum computers.  Its been in the played over and over on Vermont public radio for sometimes now and it looks like they really meant to make this information go viral for a purpose of spreading panic to cryptocurrency holders. If Quantum computer can really beat mathematical problems faster than Asics devices and perhaps can kill BTC in the end, may we be seeing the Quantum proof project to arise?

[lobat999]

Google had already claimed a break through to this quantum computers.  Its been in the played over and over on Vermont public radio for sometimes now and it looks like they really meant to make this information go viral for a purpose of spreading panic to cryptocurrency holders. If Quantum computer can really beat mathematical problems faster than Asics devices and perhaps can kill BTC in the end, may we be seeing the Quantum proof project to arise?

We must not worry about it since I believe its still in early phase of development and maybe it will  take decades before a fully operational quantum computer will be commercially manufactured and be publicly available but if that happens, I guess "we will cross the bridge when we get there!"

[audaciousbeing]

There is quantum supremacy, but the bitcoin network is strong enough to bear the quantum computing. Maybe over the next ten years this will get much advanced. What we see from Google is just the beginning to the quantum computing development. The valuation of these computers were done in Quantum Bits. To break the bitcoin it requires at least 1500 Quantum Bits, while the present quantum computer has got only 53 Quantum Bits. This way we can consider it the very early days for the advancing of quantum computers.

What caught my attention was the part where you are so certain that the bitcoin network is strong enough to bear quantum computing at the same time, proposing the next ten years before the 1500 bits would be achieved but I think that is grossly exaggerated because the rate at which technology is advancing, it does not follow a progressive movement its better to say a geometric one. Initially, with the advent of smartphones, the vest smart phones at the time had about 60mb memory and it seems that there is no way to get to 1gb might happen in a decade but in less than 5 years we have seen mind blowing phones that are even faster than laptops the point is, its better that quantum computing should not be able to break the network that to be looking into the future because it can be here real quick than you can imagine.

[LeGaulois]

Technically, Google is only at ~10% to be able to damage Bitcoin. It will take perhaps thousands of millions of dollars to reach 100%.
And this, considering they already know how to keep the qubits 'stable', but they don't...

The obstacle of decoherence
And that is precisely the problem. "In order for a quantum computer to function, its qubits must keep these quantum properties during the calculation. Yet interactions with the environment (magnetic field, light, thermal agitation...) can all cause a quantum system to lose its properties. And this is all the more true given the number of qubits contained in the system,

https://news.cnrs.fr/articles/computers-promises-of-the-quantum-dawn

The day it happens, it won't be a problem, it's easy to make Bitcoin resistant to quantum computing, the same way some altcoins are resistant.

There is news from IBM claiming too, Google if far to have reached the quantum supremacy. Don't fail in the trap from media outlets.

[Febo]

Quantum supremacy. Is your trade (coins) Quantum resistant?

All or most are. Current quantum computers cant break 20-30 years old encryption. It will take many years to break today's encryption.

[fiulpro]

So ,
1. Not everyone can buy it .
2. HACKING IS NOT LEGAL and there have been cases of people asking government to you know , keep these coins and all under the law that protects normal currencies and stuff , so I think they would take some step.
3. It's partially our fault when it comes to getting hacked , we need to be more secure even while surfing.
4. Stay hidden , ditch your last used address and don't click weird links.

[electronicash]

Quantum supremacy. Is your trade (coins) Quantum resistant?

All or most are. Current quantum computers cant break 20-30 years old encryption. It will take many years to break today's encryption.

i can't really be confident about that. the dev teams today has to develop more of the encryption that will keep switching from one to another making quantum computers unuseful for the purpose. IOTA and ADA were the ones i kept in mind when it comes to quantum resistances claiming and are still cheap these days. if there is one thing to invest when Quantum is ready, these two could rocket to moon.

[panganib999]

Google had already claimed a break through to this quantum computers.  Its been in the played over and over on Vermont public radio for sometimes now and it looks like they really meant to make this information go viral for a purpose of spreading panic to cryptocurrency holders. If Quantum computer can really beat mathematical problems faster than Asics devices and perhaps can kill BTC in the end, may we be seeing the Quantum proof project to arise?

We must not worry about it since I believe its still in early phase of development and maybe it will  take decades before a fully operational quantum computer will be commercially manufactured and be publicly available but if that happens, I guess "we will cross the bridge when we get there!"

This news has been around the forum for a long time and all have been claiming that quantum computing is the very thing that could break the encryption of blockchain technology, but despite the existence of quantum computing and all the claims and fuz, nothing has been done. In fact, It's not quantum computing's technology and ability that we have to be afraid of, it's who's hand will the technology and its powerful transaction will end up. As long as it's use is for intensive research and study, we don't have to worry about anything for it wasn't intended to destroy bitcoin.

[dothebeats]

'Quantum supremacy' does not necessarily mean Skynet-like controls and other crazy stuff on can read on sci-fi novels and publications. It simply is that they achieve some firsts in the area of quantum computing though that 'firsts' may not be really that powerful or doesn't do any significant damage to the cryptographic techniques and algorithms we have currently. Besides, Google's Sycamore project isn't created for the sole process of cracking bitcoin or any other coin's encryption keys but to do things on the field of research, most especially modelling and other geeky stuff traditional enterprise computers can't handle. Developers can easily switch to a quantum-resistant algorithm too if their coin is at risk, so the threat IMO isn't really something to be considered just yet.

[mu_enrico]

Firstly, I don't think this an economics discussion. It is probably better suited in Altcoin or Bitcoin Discussion. I'll try to report this, and I'm fine discussing this issue on any board.

About quantum computing, guess who owns the most computing power on this planet? Yes, The Bitcoin Network. So, if quantum computing is not a scam, the Bitcoin network is the one that will make it possible. Bitcoin is the most quantum-resistant coin.

[ifinta]

Firstly, I don't think this an economics discussion. It is probably better suited in Altcoin or Bitcoin Discussion. I'll try to report this, and I'm fine discussing this issue on any board.

About quantum computing, guess who owns the most computing power on this planet? Yes, The Bitcoin Network. So, if quantum computing is not a scam, the Bitcoin network is the one that will make it possible. Bitcoin is the most quantum-resistant coin.

I think, it is a question about a risk of investments... It shouldn't be a technical diskussion - just read the topic. Please leave this thread here - the question is mostly about investment risks around Bitcoin network and quantum computers.
Don't forget - Tether USD needs Bitcoin network also.

[ifinta]

Maybe it is possible to use this technology to mine Bitcoin ASAP. For google only - i.e. Or?

FYI

https://www.sciencenews.org/article/google-quantum-computer-supremacy-claim