New Chinese Quantum Computer breakthrough - should we be concerned?

[rpm12345]

https://www.ft.com/content/2445c0e9-6c2b-4004-861b-c9c87f5950f2

The Chinese claim to have proof of concept of a quantum computer '10bn times faster' than Google's. Google's has 50 quibits. Ive read that if a computer could have 4000 quibits the essential security of the blockchain could be broken.

Is this development by the Chinese signs that the development in quantum computers is becoming a threat to blockchain networks faster than anticipated? Should we be concerned?

[1713965371]

1713965371

[1713965371]

1713965371

[1713965371]

1713965371

[1713965371]

1713965371

[ranochigo]

D-Wave has made a quantum computer with 5000 qubits. Can it be used to crack symmetrical cryptography? No, it can't use Shor's algorithm as intended and it isn't really a true quantum computer.

If they have really achieved such a quantum computer, I can guarantee you personally that they won't bother to attack any blockchain technology. TLS and web encryption are the treasure trove to them. Getting a bunch of Bitcoins from old addresses with exposed public key is NOT worth their time at all, believe or not.

Anyways, you can always implement quantum resistant algorithm and it is not too hard to fork it.

[Lorence.xD]

D-Wave has made a quantum computer with 5000 qubits. Can it be used to crack symmetrical cryptography? No, it can't use Shor's algorithm as intended and it isn't really a true quantum computer.

If they have really achieved such a quantum computer, I can guarantee you personally that they won't bother to attack any blockchain technology. TLS and web encryption are the treasure trove to them. Getting a bunch of Bitcoins from old addresses with exposed public key is NOT worth their time at all, believe or not.

Anyways, you can always implement quantum resistant algorithm and it is not too hard to fork it.

It might not be able to do it for now but trust me, quantum computer do cryptography. You are being ignorant about the speed of each qubit. It can attack blockchain unfortunately, if it can't do that algorithm, the operator can just create that algorithm and make it compatible with the quantum computer. I do understand the dismissal because we haven't seen the speed of an actual quantum computer and for that reason we simply underestimate the ability on paper. It will be the least thing to worry about quantum computers, most early stage quantum computer will be used for military and aeronautics purposes like ICBM trajectory calculation to help in making a counter attack or space launch and rocket landings on different heavenly bodies.

[btc_angela]

Don't get me wrong, but when bitcoin started to climb into the $19k-$20k levels, I've seen a lot of threads about Chinese + bitcoin again, specially coming from newbie accounts. Is this another set of FUD coming from China again? Makes me wonder.

As far as quantum computer breakthrough or whatnot, if ever there are going to be threat then obviously, we shall go on the next signature algorithm, simply as that.

I don't believe Quantum Computing will ever threaten Bitcoin.

[Bitcoin_bullish]

For an unpaid version of this news, you can look at an earlier publication: https://www.wired.com/story/china-stakes-claim-quantum-supremacy/

The Chinese team posted their research in Science Journal:

https://science.sciencemag.org/content/early/2020/12/02/science.abe8770

Very technical as it explains the research which had a different approach from Google/IBM as they are using photons while Google/IBM superconducting materials for chips.

Neither quantum computer breakthrough coming from Google, China, or IBM has an application yet or can be used for anything. It is in embryonic research level, can take up to 20 years to have something that can be used.

[ranochigo]

It might not be able to do it for now but trust me, quantum computer do cryptography.

I literally never said quantum computers can't ever attack asymmetric cryptography. I merely stated that its not feasible to attack  cryptography using what we have now.

You are being ignorant about the speed of each qubit. It can attack blockchain unfortunately,

Okay. Call me ignorant all you want. What you need for a quantum computer to do to specifically attack asymmetric cryptography is to be good at factoring. As of now, I haven't seen any of them that are efficient enough to crack keys. D-Wave designed quantum computers with a high qubit using quantum annealing but that isn't suitable to be used with Shor's algorithm because you'll need fast factoring. There, you have discovered a computer with a high qubit but isn't effective when used against asymmetrical cryptography.

With that respect, it's like comparing to having a sports car on earth and a sports car in space. The latter is absolutely useless without traction.

As with China's new discovery, I won't read too much into it because they only presented a proof of concept which may or may not work. It could very well just be an exaggeration of what we have as of now.

if it can't do that algorithm, the operator can just create that algorithm and make it compatible with the quantum computer.

Can you read up on what Shor's algorithm is first? You can't simply defy the laws of physics by "inventing a new algorithm". I believe Grover's algorithm is what you're looking for with cracking symmetric cryptography but that is very easy to counter as well and is likely to be ineffective against Bitcoin or similar implementations.
I sincerely hope that you didn't just quote my post without any evidence. I would love to see some study done on the effectiveness of using quantum computers that utilises quantum annealing to attack ECDSA or similar cryptography.

[Tytanowy Janusz]

Quantum Computer is specified to solve a specific problem. They are not just super fast computers. It needs months to calibrate it to to solve given problem. And performance in solving this particular problem is compared to regular supercomputers that are universal. You can not simply turn on chines quantum computer and push "destroy bitcoin" button.

So if any day there will be quantum computer that will try to attack bitcoin - it will be made in purpose to do only this one thing.

What than? Well they will start to double spend, messing with blochchain. Community will immediately spot it and fork btc - simple reverse toxic transactions and implement different hashing mechanism. Boom you need to do new quantum computer spending bilions $ and your previous one is useless. How much you profit from this? Most likely not much compared to cost spend on quantum computers, ruined reputation (only few companies are capable to make quantum computer, their reputation will be ruined)

[daarul50]

Don't get me wrong, but when bitcoin started to climb into the $19k-$20k levels, I've seen a lot of threads about Chinese + bitcoin again, specially coming from newbie accounts. Is this another set of FUD coming from China again? Makes me wonder.

As far as quantum computer breakthrough or whatnot, if ever there are going to be threat then obviously, we shall go on the next signature algorithm, simply as that.

I don't believe Quantum Computing will ever threaten Bitcoin.

I think i even heard this claim that china scientist have breakthrough in quantum computing race , is this kind news repeated popping up as a headline every year? Every time bitcoin reached its peak?
Could be a FUD but one thing i know that europe, US and china has been in this quantum computing race for years , they are claiming shit each other every year and guess what? There is no single case causing bitcoin in threatens , but media loves to play with it, i am not surprising at all.

[Lorence.xD]

~

There is one that I can find that says that QC's can break although it will be in the near future. That is a pretty good counter to my Quantum Computer fanatic ass to be honest. I would love to have the discussion get further but I think we agree on the same page about blockchain not getting attacked. This is me waving the white flag ):

Link: https://www.technologyreview.com/2019/05/30/65724/how-a-quantum-computer-could-break-2048-bit-rsa-encryption-in-8-hours/

Cars in outerspace is not completely useless, they are moving at orbital speed and they can have add ons in that machine like thrusters, if there is no traction find a way to make the machine functional.

[Tipstar]

I was thinking about the same. China doesn't love bitcoin and wants all of it's people to use their own crypto but not bitcoin. Though current quantam machine for is a specific task but bitcoin has became large enough for Chinese government to dedicate a quantum computer to destroy it. It's not time to panic but with bitcoin being defenseless against the future, China would not let bitcoin becoming stronger than itself.

[Wind_FURY]

OP, yes, the whole world should be very very concerned if it can be weaponized. The government, especially the military, the banks, the companies in Silicon Valley, mainly EVERYONE should be concerned. "Breaking" Bitcoin should not be first priority in your list of problems.

[20kevin20]

The entire internet needs quantum protection, it's not like Bitcoin is the only one "we should fear" for. In fact, an online bank is probably easier to break than the entire Bitcoin blockchain.

But again, QCs are not going to be mainstream soon enough to represent an issue for us. Meanwhile, the proper precaution will likely be taken by the devs and we will have a quantum resistance as well. If you're this concerned about publicly exposed information about computer developments, then just imagine what 3-letter agencies were secretly able to create.. tech we have no idea about yet.

[Jating]

If even if QC can make a break through, will it be mass produce? I doubt, it will just remain in the hands of the governments, or perhaps to scientist so that they can make a new medicine break through. So it's more likely that breaking bitcoin will be the first used of Quantum Computers, Lol.

It is a concerned? of course, but it shouldn't be the priority and I'm sure Bitcoin Core has been thinking of this scenario for many years that they could have seen and be ready by the time this computers arrived in the marketplace.

[rpm12345]

Don't get me wrong, but when bitcoin started to climb into the $19k-$20k levels, I've seen a lot of threads about Chinese + bitcoin again, specially coming from newbie accounts. Is this another set of FUD coming from China again? Makes me wonder.

As far as quantum computer breakthrough or whatnot, if ever there are going to be threat then obviously, we shall go on the next signature algorithm, simply as that.

I don't believe Quantum Computing will ever threaten Bitcoin.

Not chinese bot just one of first things that's had me genuinely concerned about future of bitcoin lately - and since I own it it would be irresponsible not to follow up


Thanks for replies all very helpful

[zasad@]

The Chinese constantly copied the development of weapons, technologists from foreign  countries.
And then suddenly they invented the world's most powerful quantum computer
I read that Shor's algorithm can be hacked on a quantum computer by the quantum Fourier transform
https://en.wikipedia.org/wiki/Quantum_Fourier_transform
But so far no one has done it

[fiulpro]

I don't think that a country which was not even able to effectively control the pandemic and even tried to hush it's own doctors did this by themselves. They might have used some resources and even use the existing technology regarding the quantum computing. Right now if China will have this technology I do think that *Bitcoins* should be the least of our worries. They would for sure try and break through all the governmental website. Launch a cyber attack, use this technology for malicious intent. I do believe that the UNESCO would have to step up and then make sure that sign a contract with these countries to make sure they don't use this technology for these purposes.
Don't worry , we already have some companies who are by far way ahead and we haven't heard any incident like *Bitcoins were hacked using quantum mechanics*;* I do think it's not as easy as it sounds.

[Twentyonepaylots]

As far as I know, from what I have read regarding quantum computers, it isn't a threat to bitcoin unless it was done intentionally to disrupt the cryptography that's the time that it'll be a threat to bitcoin and cryptocurrencies. But it is a surprise to me that a Chinese quantum computer has been linked to a crypto breakthrough since they are really into cryptocurrencies, or am I just illusional   I think the whole community should set this thing aside, it's quite impossible to kill crypto especially from Chinese people, they freaking love it.

[hulla]

Is this development by the Chinese signs that the development in quantum computers is becoming a threat to blockchain networks faster than anticipated? Should we be concerned?

I don't see any reason for us to be concerned cause it was once said that it will take 10,000 years before a 4000 qubit quantum computer that can break blockchain will be developed infact the qubit of the new breakthrough quantum computer just developed by the Chinese was mentioned so it could just be a hype cause it will be 10,000 years before we can be concerned of blockchain been break by any supercomputers.

[Mike Mayor]

Why are people so worried about quantum computing. Do you know how much time and effort it would take to crack a private key? There is a better chance of winning the lotto multiple times in a row.
If such a computer exists then bitcoin would be the very least of our worries. I still cannot fathom why people think quantum computing will be used to crack bitcoin privatekeys.
With a computer of such power, you could crack bank accounts, any online account. Pretty much anything so why would you waste it hacking bitcoin wallets when there are banks full of suckers' money?
They would rather use that tech to launch some nuke program or design nasty weaponry.

[buwaytress]

If they have really achieved such a quantum computer, I can guarantee you personally that they won't bother to attack any blockchain technology. TLS and web encryption are the treasure trove to them. Getting a bunch of Bitcoins from old addresses with exposed public key is NOT worth their time at all, believe or not.

Anyways, you can always implement quantum resistant algorithm and it is not too hard to fork it.

Exactly. Bitcoin is not the treasure trove at all, not for the effort and cost they'd have to put into it. So much more low-hanging fruit, with priceless value attached. Secrets and knowledge is always going to be worth more to anyone who wants to profit from this.

Ditto on change of algorithm. Developers will be acutely aware of such needs should they present true threats.