lk99 superconductivity, hypothetical supercomputer and satoshis wallet

[supermankid]

Let me start this hypothetical scenario to learn about potential risks to bitcoin from advanced quantum computers if technology like lk99 accelerates development of quantum computers.
1. If I understand correctly, currently there are quantum computers eith 4 qbits, which can Crack 4 but bit password instantly.
To crack a bitcoinniwallet you need to know private key which means cracking 256 bit. If yhere is 256 qbit quantum computers, will these wallets be cracked instantly?
2. I'm such case the old wallets that hold the botcoin can be recovered?
3. What are the possible solutions in that case to protect or transform the botcoin network?

I understand that it might take a long time to get such technologies but let's say this is the case in next 100 years. Are the bitcoin wallets vulnerable to advanced quantum computers?

[adaseb]

This was discussed many times in the past. This technology is years away and if it finally comes then there will be an update to a more secure private key for everyone’s Bitcoin addresses.

It won’t be a risk only to Bitcoin or crypto. Your bank and almost every other website uses the same encryption pretty much, so it won’t only be a crypto related issue.

[Amphenomenon]

Op, please can you try to edit your post, some words are misspelled .

Technology must advance, Bitcoin will surely advance also, so when it can get there it will overcome because this has not been the only challenges Bitcoin as overcome and more will come before this. Don't forget Bitcoin has been advancing since its creation, Let's just focus on the present

[supermankid]

Edited with correct spelling.

Could some botcoiner explain the questions in technical terms.
I think my technical question can be answered without much speculation.

[BlackHatCoiner]

To crack a bitcoinniwallet you need to know private key which means cracking 256 bit.

Even though I'm not into quantum computing, the security of a Bitcoin private key is 128 bits, because you need to perform 2^128 operations on the elliptic curve to work out the private key, assuming you know the public key.

I understand that it might take a long time to get such technologies but let's say this is the case in next 100 years. Are the bitcoin wallets vulnerable to advanced quantum computers?

From my understanding, there will be a fork at some point, where we will be upgrading to a quantum-resistant algorithm. Experts in the cryptographic community predict this to happen in some decade or so. There are quite a lot of threads if you search "quantum computer" in the board.

[nelson4lov]

Let me start this hypothetical scenario to learn about potential risks to bitcoin from advanced quantum computers if technology like lk99 accelerates development of quantum computers.
1. If I understand correctly, currently there are quantum computers eith 4 qbits, which can Crack 4 but bit password instantly.
To crack a bitcoinniwallet you need to know private key which means cracking 256 bit. If yhere is 256 qbit quantum computers, will these wallets be cracked instantly?
2. I'm such case the old wallets that hold the botcoin can be recovered?
3. What are the possible solutions in that case to protect or transform the botcoin network?

I understand that it might take a long time to get such technologies but let's say this is the case in next 100 years. Are the bitcoin wallets vulnerable to advanced quantum computers?

- as far as I know, it won't instantly. A lot of things are still uncertain right now. A lot of these nitty gritty details will become available in the future. Just not yet.

- If Quatum computers start cracking the 256-bit, then it could potentially be able to cracking old, forgotten wallets.

- There are plans in place for possible mitigation routes when quantum computing becomes a thing in the future. Forking the network like @BlackHatCoiner said might be a possible solution of if a post-quantum cryptography to mitigate it.

Quatum computing for Bitcoin and crypto has not been empirically investigated and creates a research gap in that area. As quantum computing keeps developing, cryptography will develop side by side. Same way encryption of the past like MD5 used to be widely used before they got cracked.

[supermankid]

Let me start this hypothetical scenario to learn about potential risks to bitcoin from advanced quantum computers if technology like lk99 accelerates development of quantum computers.
1. If I understand correctly, currently there are quantum computers eith 4 qbits, which can Crack 4 but bit password instantly.
To crack a bitcoinniwallet you need to know private key which means cracking 256 bit. If yhere is 256 qbit quantum computers, will these wallets be cracked instantly?
2. I'm such case the old wallets that hold the botcoin can be recovered?
3. What are the possible solutions in that case to protect or transform the botcoin network?

I understand that it might take a long time to get such technologies but let's say this is the case in next 100 years. Are the bitcoin wallets vulnerable to advanced quantum computers?

- as far as I know, it won't instantly. A lot of things are still uncertain right now. A lot of these nitty gritty details will become available in the future. Just not yet.

- If Quatum computers start cracking the 256-bit, then it could potentially be able to cracking old, forgotten wallets.


- There are plans in place for possible mitigation routes when quantum computing becomes a thing in the future. Forking the network like @BlackHatCoiner said might be a possible solution of if a post-quantum cryptography to mitigate it.

Quatum computing for Bitcoin and crypto has not been empirically investigated and creates a research gap in that area. As quantum computing keeps developing, cryptography will develop side by side. Same way encryption of the past like MD5 used to be widely used before they got cracked.

This is what I was most interested about. Lets say there is a development of 256 bit quantum computer. If the hackers are wise (of course) they might start cracking the wallet with the highest amount of bitcoin or it could be any one of the wallet. Simply put, some of the wallets might already be cracked before the funds from old wallet are put to new form of quantum resistant wallet. Can this be prevented in some ways? (in hypothetical scenario, someone invents a quantum method in advance before crypto technology upgrade)

I understand that it is unlikely to happen..both will develop side by side... and all...but just curios ..just in case...what is the plan B of bitcoin

[SamReomo]

Let me start this hypothetical scenario to learn about potential risks to bitcoin from advanced quantum computers if technology like lk99 accelerates development of quantum computers.
1. If I understand correctly, currently there are quantum computers eith 4 qbits, which can Crack 4 but bit password instantly.
To crack a bitcoinniwallet you need to know private key which means cracking 256 bit. If yhere is 256 qbit quantum computers, will these wallets be cracked instantly?
2. I'm such case the old wallets that hold the botcoin can be recovered?
3. What are the possible solutions in that case to protect or transform the botcoin network?

I understand that it might take a long time to get such technologies but let's say this is the case in next 100 years. Are the bitcoin wallets vulnerable to advanced quantum computers?

If we see it technically then yes the quantum computers with 256 Q-bits would be able to crack the old Bitcoin wallets in seconds, but in current state of the quantum computers we don't need to worry about such things because it will take a lot of time to build those level of quantum computers and it would take even more time to make those computers available for general public. The possibility is there, but we are still very far away from maturing of such systems.

Yes, if a wallets private key is cracked then the coins from old wallets can be recovered, but I don't think that something like that is going to take place in a decade or more. If any such technology matures in coming years then to combat such technologies the crypto graphers will find a way to implement quantum resistant cryptography methods to protect the whole blockchain and the wallets from such powerful computers.

[nelson4lov]

~Snipped

~Snipped

This is what I was most interested about. Lets say there is a development of 256 bit quantum computer. If the hackers are wise (of course) they might start cracking the wallet with the highest amount of bitcoin or it could be any one of the wallet. Simply put, some of the wallets might already be cracked before the funds from old wallet are put to new form of quantum resistant wallet. Can this be prevented in some ways? (in hypothetical scenario, someone invents a quantum method in advance before crypto technology upgrade)

I understand that it is unlikely to happen..both will develop side by side... and all...but just curios ..just in case...what is the plan B of bitcoin

I'm not an expert in cryptography by any means but the bitcoin network has to meet consensus for mitigation routes in such a situation.  It would be an interesting situation when the time comes. Until a concrete decision is made when the time comes, everything else is mainly a speculation / prediction.

The possibility of a random person inventing Quatum computing with that kind of capabilities is still years away.

[cryptosize]

From my understanding, there will be a fork at some point, where we will be upgrading to a quantum-resistant algorithm. Experts in the cryptographic community predict this to happen in some decade or so. There are quite a lot of threads if you search "quantum computer" in the board.

https://twitter.com/olvelez007/status/1691255281261441024

[ImThour]

> To crack a bitcoin wallet you need to know private key which means cracking 256 bit. If there is 256 qbit quantum computers, will these wallets be cracked instantly?

Nope. That's now how it works. 1 super computer according to you can crack 4 bits of password instantly. I am sure it's difficulty level will keep on going up in quadratic, not linear.
For example, if a number is 1, it goes 2. That's linear. If a number is 2, it goes to 4. That's quadratic. And for 4 to go to 256 will require more quadratic processing power which isn't possible.

Instead of cracking private keys, they should just focus on mining. Much better and they will surely earn some Bit.

[odolvlobo]

FYI, researchers have not been able to replicate the lk-99 results, meaning that it is likely that it was a mistake.