Bitcoin and quantum computing dangers

[Johnii]

How serious is the threat that quantum computing poses to blockchain technology, and what can be done about it?

The science of quantum physics is being used to build quantum computers–powerful machines that have the ability to solve incredibly complex mathematical equations much more quickly than even the most advanced computers available today.

As such, any data that’s encrypted using mathematical equations–including banking data, intelligence data protected by the government, and encrypted messages on cell phones–is vulnerable to being exposed by quantum computing. Most notably, in this case, encrypted cryptocurrency data–such as private wallet keys–are also vulnerable to quantum computing technology.
Is Bitcoin doomed?

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[panganib999]

How serious is the threat that quantum computing poses to blockchain technology, and what can be done about it?

The science of quantum physics is being used to build quantum computers–powerful machines that have the ability to solve incredibly complex mathematical equations much more quickly than even the most advanced computers available today.

As such, any data that’s encrypted using mathematical equations–including banking data, intelligence data protected by the government, and encrypted messages on cell phones–is vulnerable to being exposed by quantum computing. Most notably, in this case, encrypted cryptocurrency data–such as private wallet keys–are also vulnerable to quantum computing technology.
Is Bitcoin doomed?

This topic has been discussed lots of times here in the forum and answers differs all the time. But well, I don't think bitcoin enthusiasts and bitcoin doesn't have to worry and be threatened about quantum supremacy that google claims they've already achieved. Yes, there is a possibility that the quickest computer could decrypt whatever's encrypted with regards to bitcoin, but quantum computers isn't made for that. People who are in-charge of handling it uses it for research and matters that is more than destroying bitcoin, so if there is somthing to be worried about, its something with regards to the intention of whoever is in-charge of the quantum computers.

[NeuroticFish]

How serious is the threat that quantum computing poses to blockchain technology, and what can be done about it?

How about reading what others have answered? https://www.google.com/search?q=bitcoin+quantum+site%3Abitcointalk.org
If you have anything to add, then it may worth discussing. Although I doubt it's the case.

[diazepam666]

1000 super computers can able to crack the mathematical equations of one wallet but the cost of cracking will be higher than the fund available in your wallet. So simply we can say it is not any danger for it

Blockchain algorithm is most secured option to have in any business as firewall.

[nreal]

I think quantum computers are not really a threat to bitcoin. In comparison, the threat of quantum computers with communication systems, top secret systems, financial systems, ... is The problem is much bigger. But I believe there will be ways to upgrade these systems to resist the threat of quantum computers, bitcoin is no exception.

[Vod]

Blockchain algorithm is most secured option to have in any business as firewall.

How is the blockchain a firewall?

[rdluffy]

Oh no, again about quantum technology rsrs 

Serious, just answer me one question and please, think about: If quantum technology will be available to people to atack BTC like you guys are afraid, why not this technology can help BTC security?
The tech will be available for both sides, so it will remain the same

[franky1]

ok to demyth the quantum threat

bits are just 01. quantum if you take away the mystery is like 0123
or more detailed bits is 0 volts or 1volt electric and qubits is 0volt 0.25v 0.5v 0.75v 1v
the whole mystery is basically 2d to 3d
not
alternate universes dimenions.
just having more than our reality 2 dimensions (not just 0, 1) by having our reality 3 dimensions
EG
bit: 0,1 can be programmed that 0=light off 1=bright light on
qubit: 0=light off 1=light on but dim 2=light on but not full 3=bright light
so thats the non sci-fi alternate universe mystery demystified
(its not a multistate on and off  its a dimlight represents on and off if programmed to be treated as such)

what it does is
if you have a logic bit problem a qubit can solve it in half the time.
because you can have 3333 (4 qubits) that represent 265 instead of 11111111 (8bits)

if you have a vector problem a qubit system can solve it quicker because vectors are not binary logic problems

this means sha256(binary logic) is at less risk than say ecdsa(vectors)

however converting a qubit back to a bit formation does not always make the same result which a binary problem is looking for when finding an answer in 'quantum'

also 'quantum' computers are not even at the stage of having the same converted bit power as a single ASIC, let alone 1.5mil asics to hash a block. and let alone enough qubits to reduce the ecdsa brute forcing from a fw millenia(bits) to being hours or days in qubits
at the moment it would take longer to bruteforce a ecdsa key on a qubit system than it would on a binary system. because a qubit system doesnt have the necessary amount of architecture to match a normal pc.

its still at the low level of basic math problems and unable to handle alot of work

knowing the negative temperatures a qubit system neds to run atto not even run windows 10. shows that qubits are not even anywhere near getting the processing power to have something faster than a PC

but lets simplfy it down
lets imagine an ecdsa vector can be brutforced 65k faster using a qubit systm, rather an a pc
2^256=
115792090000000000000000000000000000000000000000000000000000000000000000000000

using binary and doing say 10,000 combinations a second(both creating and verifying)
11579209000000000000000000000000000000000000000000000000000000000000000000

using qubit and doing 10,000 combinations a second
178141676923077000000000000000000000000000000000000000000000000000000

which is
2969027948717950000000000000000000000000000000000000000000000000000   minutes
49483799145299200000000000000000000000000000000000000000000000000   hours
2061824964387460000000000000000000000000000000000000000000000000   days
294546423483924000000000000000000000000000000000000000000000000   weeks
5664354297767760000000000000000000000000000000000000000000000   years
566435429776776000000000000000000000000000000000000000000000   decades
56643542977677600000000000000000000000000000000000000000000   centuries

to brute force all keys
so the 'luck' of finding one key that matchs an address your looking for is still a needle in a hey stack
for instance there was that 'prank' website that created a page of 20 results where the page number+>20 would calculate live private keys and corresponding public addresses. would still take years(millenia) for someone to sift through all that data to find the right keypair

but as i said that qubit systems are not ready for that level of bruteforce
nor have the cooling systems to cope with the heat generation of such a task

also hardware alone is just a paper weight. it involve programming the hardware to do things.
(firmware/software)
you cant simply ask a qubit system to plan the fastest rout by car from washington to LA
you have to first teach the system the roadmap. teach it how to treat each junction. and teach it to compare one rout to another.

so having to do that require dedicating certain systems for certain tasks
(again quantum systems are decades away from being general use systems that can do different tasks as easily as a windows pc does) they are more like asic specific task orientated

[aardvark15]

How serious is the threat that quantum computing poses to blockchain technology, and what can be done about it?

The science of quantum physics is being used to build quantum computers–powerful machines that have the ability to solve incredibly complex mathematical equations much more quickly than even the most advanced computers available today.

As such, any data that’s encrypted using mathematical equations–including banking data, intelligence data protected by the government, and encrypted messages on cell phones–is vulnerable to being exposed by quantum computing. Most notably, in this case, encrypted cryptocurrency data–such as private wallet keys–are also vulnerable to quantum computing technology.
Is Bitcoin doomed?

It’s possible that there will be quantum computers working on both sides — to attack Bitcoin and to protect it as well.  Regardless, it will be some time before the technology improves enough to become a problem.

[HardFacts]

1000 super computers can able to crack the mathematical equations of one wallet but the cost of cracking will be higher than the fund available in your wallet. So simply we can say it is not any danger for it

Blockchain algorithm is most secured option to have in any business as firewall.

Given your statement, You obviously are CLUELESS as to the power of quantum computing.

Your conclusion is absolutely wrong, the Google quantum computer solved a 10,000 YEAR problem in just over 3 minutes.   Cracking every bitcoin in your wallet should take about 0.3 seconds with a quantum computer 

You may not like the idea, it might even bankrupt you, but since when did the laws of physics change because of what YOU thought

Hard Facts

[libert19]

Like vitalik said quantum computing is far from direct use, before it gets widespread we will probably have power to combat it.

[TRONTON]

like when the enigma machine was ever revealed, there are many gaps that can be anticipated and not able to run fully, just like this quantum that will make the blockchain network protocol more immune to all its updates, there is nothing to worry about and it is better to see the potential of what can be done positively from the feared effect.

[yazher]

Guys please before you post something search it on the right upper side of the forum to avoid double thread. especially this quantum computer so called threat to bitcoin has been conquering this board. cause every time someone posting about this so called threat, another theory will be published here without having some solid evidences to prove their posts. we better not to create fuss and not to make our fellow member fear this kind of post.

[Youghoor]

How serious is the threat that quantum computing poses to blockchain technology, and what can be done about it?

The science of quantum physics is being used to build quantum computers–powerful machines that have the ability to solve incredibly complex mathematical equations much more quickly than even the most advanced computers available today.

As such, any data that’s encrypted using mathematical equations–including banking data, intelligence data protected by the government, and encrypted messages on cell phones–is vulnerable to being exposed by quantum computing. Most notably, in this case, encrypted cryptocurrency data–such as private wallet keys–are also vulnerable to quantum computing technology.
Is Bitcoin doomed?

This is just another FUD that keeps circulating throughout the crypto space and the crypto ecosystem. If you think quantum computing technology has the power to put blockchain technology at a risk, you should present real facts and evidence backing this assumption of yours. This is not enough to prove that quantum computing technology can be a threat to blockchain technology and cryptocurrency.

[seoincorporation]

How serious is the threat that quantum computing poses to blockchain technology, and what can be done about it?
...

There is not risk at all, even if people try to brute-force all the PK with Quantum Computers they will not a success because the number of private keys is really big even for Quantum Computers. But if they can vuln sha256 there is always the option to fork the core and implement a better sha solution like sha512.

It is fun to see how people are worried about quantum computing and bitcoin. If that technology really can damage bitcoin, the crypto coin is the smallest thing to worry about in that moment, because it would mean all the military systems even the nuclear plants' systems will be in danger too.

[btc_angela]

Guys please before you post something search it on the right upper side of the forum to avoid double thread. especially this quantum computer so called threat to bitcoin has been conquering this board. cause every time someone posting about this so called threat, another theory will be published here without having some solid evidences to prove their posts. we better not to create fuss and not to make our fellow member fear this kind of post.

Right, just like the countless threads we have about Quantum computing:
[1]I don't believe Quantum Computing will ever threaten Bitcoin
[2]Would Quantum Computer Kill Bitcoin
[3]In 10 years from now a quantum computer
[4]How Will quantum computing affect BTC security and mining.

[enhu]

Quantum computing works for spreading fud though I guess its dangerous for the people who panics when google announces they can destroy BTC through the break through they achieved for Quantum computing. Its not even proven to be true but whales are benefiting by these kind of news. So there's your danger there. If they can really hack blockchain, will it mean they can hack the blockchains of the system used by companies today including the fiat blockchains like of the digital chinese coin?

[Jammermob]

It happen not so soon as you think, relax.

[Krislaw]

The purpose of creating a quantum computer won't be because of this. The reason it's been created is for the government for research purposes. I am sure they won't be much out there because it's going to be very expensive.

[franky1]

Your conclusion is absolutely wrong, the Google quantum computer solved a 10,000 YEAR problem in just over 3 minutes.   Cracking every bitcoin in your wallet should take about 0.3 seconds with a quantum computer  

no
googles quantum computer solved a qubit problem in 3 minutes that would have taken a binary system 10,000 years

its like saying to  raise their hand when a drum beats.
the test is designed for a hearing person (quantum) but they then put another person its not designed for to the test. and the DEAF person(binary) is not sure so he just raises his hand 10000times until he gets his hand up in sync with a drum beat

yes there are things that quantum computers. once programmed what to look for can b faster. but depnding on the problem and the solution required can make the difference of a factor of 2x or a factor of 1752000000x

but even if 10,000 years does translate to 3 minutes
thats still a  
5664354297767760000000000000000000000000000000000000000000000 year problem in binary translated to a
1699306289330328000000000000000000000000000000000000000000 minutes problem in qubit
(1939847362249233000000000000000000000000000000000000 centuries)