128-bit Quantum Computer Commercially Available - Qubitcoin coming soon?

[LightRider]

http://www.dwavesys.com/en/products-services.html

Recently, D-Wave Systems unveiled their latest commercial quantum computer with 128 qubit capability. Given the rate at which their expanding the number of qubits available in such systems, how long until we have to worry about private key mining becoming more profitable than hash mining?

[goxed]

Haha using http://en.wikipedia.org/wiki/Shor%27s_algorithm, one can find prime factors in linear time.

Thanks for the link!

[dancupid]

The already have a 512 qubit chip:

http://nextbigfuture.com/2011/12/dwave-systems-shows-off-512-qubit.html

But there are still doubts if their computers really are quantum.

[freequant]

That would be fun if it was a scam

[adamstgBit]

Quickly! instal the bitcoin client and start mining!

mine all the coins in 1 day!


could this 10 square foot Black Box really punch a hole in bitcoin?

[vuce]

could this 10 square foot Black Box really punch a hole in bitcoin?

even if it could bitcoin would just use different encryption.

[finway]

Change ECDSA to Q_ECDSA.

[FlipPro]

Looks like a scam, but I may be wrong. 

[BTCurious]

I don't think they have an quantum algorithm to do reverse ECDSA yet. But I could be wrong.

[vuce]

I don't think they have an quantum algorithm to do reverse ECDSA yet. But I could be wrong.

shor's algorithm can be modified to work on elliptic curves.

[Ean]

So how do you program a quantum computer? Using qBASIC?

[BTCurious]

With quantum operators

[teukon]

Lol

"128 qbit capability"!?  The soundcard mining was more believable.

[DeathAndTaxes]

I don't think they have an quantum algorithm to do reverse ECDSA yet. But I could be wrong.

shor's algorithm can be modified to work on elliptic curves.

I don't think shor's algorithm helps because the address is a hash of the public key not the actual public key.  Either Satoshi got reallly luck or he was some super genius who saw the threat of quantum computing.  Since the public key is an unknown to the attacker they have no input for shor's algorithm.

IIRC shor's alogrithm is simply a "speed booster" which when given a public key K can find the private key k magnitudes faster than conventional brute force.  With Bitcoin only the owner of the private key knows the public key.


The other nice thing about Bitcoin is it is unlikely there is any economic value in attacking the network.  If you could out solve the entire rest of the network you likely would make more just being a masive hashing farm than trying to attack it.  The threat of 51% comes from a non-economic attack.  An entity who seeks to double spend not for profit but to destroy Bitcoin.  While a quantum computer might someday help an attacker if it is public available it would also help defenders too.

[Mousepotato]

Finally, a computer capable of running Crysis.

[cypherdoc]

http://financialriskanalytics.weebly.com/1/post/2011/11/is-quantum-computing-a-threat-to-bitcoin.html

[saqwe]

Finally, a computer capable of running Crysis.

 

[kwukduck]

Hmm, dwave again...
They tricked us last time, i highly doubt this is the real deal..

[Littleshop]

From what I have read.....

A 1024 Qbit computer would take about 1000 years to break a key.  This is much better then the millions of years all of the computers on the planet combined would take so it is revolutionary.  It just does not threaten bitcoin yet.  With the rate of growth in quantum computing, bitcoin will need to be upgraded, and it should be done before five years.  After five years, quantum key breaking may start to enter the relm of possibility for large institutions. 

[BTCurious]

I don't think shor's algorithm helps because the address is a hash of the public key not the actual public key.

I don't know if this is true, but would like to note that the public key is known for addresses that have been spent from.