With Quantum computing / AI is anyone concerned of the private keys with 50btc?

[definevalue]

I am just wondering if anyone else has thought about how much compute is trying to solve those address private keys and if they did get spent what would happen with current price hypothetically speaking?

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[franky1]

dont be too concerned

quantum computers in dummy terms is like this

instead of 2binary gate. quantum is like a 4gate system
simply imagine a car route planner that can only go forward and right

and there is a specific route from starting point to destination

              ______B
      ____|___
 __|__    |    |
|   |__|   |__|
A
quantum can route map backward forward left and right
so can find many many routes from A to B

BUT
while quantum is throwing out loads of possible routes. those routes are limited to the rules of binary (forward and left) limitation

thus it wont understand paths to B that involve back and right and not enough loops around streets

(not accurate, but for dummy display)

[OgNasty]

There is definite progress happening with quantum computing and it is no doubt a threat to Bitcoin and other cryptos, but I think it’s a problem that can be solved before it damages the security model of Bitcoin. It’s likely that the damage of quantum computing will be limited to MITM style attacks on the blockchain by front running legitimate transactions. It’s very likely that a solution wouldn’t be too difficult. The real fear is the ability to crack private keys, which I think is still likely several decades away.

[adaseb]

Honestly think about it this way.

If it really was that easy and possible. Somebody by now would of just tried to crack the private key for satoshi first transaction with Hal and they would of moved those bitcoins and create a tons of panic.

Bitcoin would crash since satoshi coins are moving and someone would make tons of money shorting the derivatives. So the 50btc addresses aren’t going to get targeted first.

[Kemarit]

I am just wondering if anyone else has thought about how much compute is trying to solve those address private keys and if they did get spent what would happen with current price hypothetically speaking?

I do agree that maybe in the background there have been leaps and bounds as far as QC is. But I doubt that they are doing this just to break bitcoin, there are more uses of it and for sure government knows that instead of targeting wallets that has like 50 BTC as you describe.

And if ever they will be broken, maybe it's time for bitcoin to go one move step further and improved and be QC resistant again?

[btc_angela]

There is definite progress happening with quantum computing and it is no doubt a threat to Bitcoin and other cryptos, but I think it’s a problem that can be solved before it damages the security model of Bitcoin. It’s likely that the damage of quantum computing will be limited to MITM style attacks on the blockchain by front running legitimate transactions. It’s very likely that a solution wouldn’t be too difficult. The real fear is the ability to crack private keys, which I think is still likely several decades away.

As far as I know, if quantum computers doesn't know the public key, then it will still have difficulty in getting the private key.

So yeah it will take years though before probably a good model of quantum computers will be out to crack private keys of exposed public keys. But for sure those quantum computers will not be in the hands of just ordinary individual to play around. Usually this quantum computers are houses in a more sophisticated places or in a safe place. And obviously, bitcoin developers could have been looking for plan B already if this so called quantum computing threat becomes a reality.

[franky1]

Honestly think about it this way.

If it really was that easy and possible. Somebody by now would of just tried to crack the private key for satoshi first transaction with Hal and they would of moved those bitcoins and create a tons of panic.

As far as I know, if quantum computers doesn't know the public key, then it will still have difficulty in getting the private key.

satoshis keys in jan 2009, have both been reused. and were pay yp public key not PKH

yet years of fears of "dont re-use" and "public key leak fear" that address of satoshi that was used with hal and then moved 5 more times after from that same address has 5 signatures.. but no one has been able to brute it

[Pierre 2]

I feel like it's fake fear to influence Bitcoin negatively. We are still not sure if quantum computers can somehow decipher things. We are not familiar with how they work, there are only handful of them around the world. Internet media also exeggarates how it can become doom to coins by solving private keys. I feel like we will have lot more things to worry than quantum computing. Its too early for it to go consumer levels anyways.

[franky1]

I feel like it's fake fear to influence Bitcoin negatively. We are still not sure if quantum computers can somehow decipher things. We are not familiar with how they work,

they are not that complex

take binary 0101     logic gate 1 is /
                                     and  0 is \


so 0101 is command for stop doing C

however in quantum computing
there more options (0,1,2)    (im over simplifying many aspects)
                            2 is /
                            1is both / and \
                            0 is \
                          
now try it using path above in image with using quantum "210"
result should be stop performing both task D and B


the thing is
if the result that would have taking 2 commands in binary to get result required 0101 and 0001 and performed in 2 passes/cycles

quantum can do it with just 210 to signal both.. but
a normal legacy binary computer does not understand 210. and so "error" invalid command"

by a puzzle being designed for binary. it self protects from accepting quantum inputs or processing them in the form of a quantum multi direction/task map

so quantum is limited in some tasks it can perform in regards to legacy computer puzzles

however. if a legacy binary system was to do a puzzle that was designed for 3d/multi-tasking. obviously a binary system is slower at double tasking. because it has to perform 2 cycles

yet a quantum system can do that in 1 cycle, thus efficiency becomes Xrate faster in quantum

[Lucius]

Quantum computers are still too weak to be a threat to Bitcoin, but even when they become more powerful in the future, Bitcoin will be upgraded with better protection. Besides, why focus on private keys with only 50 BTC when there are addresses that hold tens of thousands of BTC and are much more profitable targets for anyone who thinks they have a chance to hack such things.

Webber’s team calculated that breaking bitcoin’s encryption in a 10-minute window would require a quantum computer with 1.9 billion qubits, while cracking it in an hour would require a machine with 317 million qubits. Even allowing for a whole day, this figure only drops to 13 million qubits. This is reassuring news for bitcoin owners because current machines have only a tiny fraction of this – IBM’s record-breaking superconducting quantum computer has only 127 qubits, so devices would need to become a million times larger to threaten the cryptocurrency, something Webber says is unlikely to happen for a decade.

[franky1]

Quantum computers are still too weak to be a threat to Bitcoin, but even when they become more powerful in the future, Bitcoin will be upgraded with better protection. Besides, why focus on private keys with only 50 BTC when there are addresses that hold tens of thousands of BTC and are much more profitable targets for anyone who thinks they have a chance to hack such things.

Webber’s team calculated that breaking bitcoin’s encryption in a 10-minute

your link and stats of quote are about 51% attacking network hashrate of a block... not the eliptic curve of an address..
just saying

in short one QC is about the same as 1 asic