challen (OP)
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April 01, 2014, 08:42:27 PM |
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Bitcoin has been a great social experiment thus far, but there have been recent developments in quantum computing. Speculatively speaking, what effect might this have on bitcoin and the next generation of cryptocurrencies? http://bits.blogs.nytimes.com/2014/03/24/quantum-computing-research-may-back-controversial-company/?_php=true&_type=blogs&_r=0"While the controversy has gone on for years, it may reach an end within a year or two. Mr. Williams said that in April, D-Wave will be conducting experiments with a machine managing over 1,000 qubits, about twice the number currently inside its best machine. A 2,000-qubit machine is scheduled for the end of the year, and will be ready for experiments within a few months after that. If D-Wave can rapidly solve the kind of large problems a machine like that is expected to, that would perhaps be the most persuasive evidence possible that we have entered a new computing era." |
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"If you don't want people to know you're a scumbag then don't be a scumbag." -- margaritahuyan
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knightcoin
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Stand on the shoulders of giants
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April 01, 2014, 08:44:47 PM |
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if you can decrypt with quantum computer .. what's the problem about encrypt with quantum computer  |
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porcupine87
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April 01, 2014, 08:49:18 PM |
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Bitcoin uses SHA256, the whole world uses this algo. So there will be no headline tomorrow "mega quantum computer solves sha256 hash in 3 hours". It more like "Instead of 2^78 years you would only need 2^77 years. In 10 years down to 2^67 years."
So there would be enough time to chance to different algorithms.
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"Morality, it could be argued, represents the way that people would like the world to work - whereas economics represents how it actually does work." Freakonomics
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rocks
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April 01, 2014, 09:09:39 PM |
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Bitcoin uses SHA256, the whole world uses this algo. So there will be no headline tomorrow "mega quantum computer solves sha256 hash in 3 hours". It more like "Instead of 2^78 years you would only need 2^77 years. In 10 years down to 2^67 years."
So there would be enough time to chance to different algorithms.
This topic has come up many times before. I believe ECDSA is considered weak against a full blown quantum computer (which is still a ways away) but that other algorithms that are believed to be quantum resistant are already developed. Bitcoin would need a hard fork and switch. SHA256 hashing should still be fine. A quantum computer can not beat SHA256 but would exponentially increase the difficulty. So ASICs would become paper weights and the quantum computer owners billionaires. Personally I find this to be acceptable, the scientists who finally get a working quantum computer deserve some rewards. |
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Hyena
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April 01, 2014, 09:31:36 PM |
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If you haven't used your address and only have inputs but no outputs then you're safe, even quantum computers cannot steal your coins then.
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Ibian
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April 01, 2014, 09:37:26 PM |
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Fuck your quantum computers. Fuck them right up your ass.
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Look inside yourself, and you will see that you are the bubble.
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porcupine87
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April 01, 2014, 09:48:18 PM |
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Fuck your quantum computers. Fuck them right up your ass.
I had to laugh. I must be drunk^^ |
"Morality, it could be argued, represents the way that people would like the world to work - whereas economics represents how it actually does work." Freakonomics
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aminorex
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Sine secretum non libertas
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April 02, 2014, 12:15:10 AM |
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d-wave is a boondoggle. a cracking good (pun) qc might come out one day, but it won't be adiabatic.
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Give a man a fish and he eats for a day. Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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log2exp
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April 02, 2014, 02:17:42 AM |
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If quantum computing is able to crack SHA256 in minutes/hours, the primary target will not be bitcoin. It's lot easier to access banks, security and insurance companies, for instant rewards.
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cbeast
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Let's talk governance, lipstick, and pigs.
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April 02, 2014, 02:20:52 AM |
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A real quantum computer exists outside of time and space. The real threat will be Daleks.
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Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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knightcoin
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Stand on the shoulders of giants
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April 02, 2014, 02:23:44 AM |
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not for "instant rewards" but show then that there is something bigger than they are ...
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knightcoin
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Stand on the shoulders of giants
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April 02, 2014, 02:25:38 AM |
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banks depends upon cryptology ...so don't mess with us ...
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anu
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RepuX - Enterprise Blockchain Protocol
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April 02, 2014, 12:29:01 PM |
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Bitcoin has been a great social experiment thus far, but there have been recent developments in quantum computing. Speculatively speaking, what effect might this have on bitcoin and the next generation of cryptocurrencies? http://bits.blogs.nytimes.com/2014/03/24/quantum-computing-research-may-back-controversial-company/?_php=true&_type=blogs&_r=0"While the controversy has gone on for years, it may reach an end within a year or two. Mr. Williams said that in April, D-Wave will be conducting experiments with a machine managing over 1,000 qubits, about twice the number currently inside its best machine. A 2,000-qubit machine is scheduled for the end of the year, and will be ready for experiments within a few months after that. If D-Wave can rapidly solve the kind of large problems a machine like that is expected to, that would perhaps be the most persuasive evidence possible that we have entered a new computing era." They can't run Shor's algorithm. neither the prime one nor the modified version for elliptic curves. |
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spazzdla
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April 02, 2014, 01:52:55 PM |
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The gamers will be livid with us as we would go on a buying frenzie to get all the quantaum comps to mine da coins.
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raid_n
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April 02, 2014, 02:00:28 PM |
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If you haven't used your address and only have inputs but no outputs then you're safe, even quantum computers cannot steal your coins then.
This is misleading and wrong. Any public key that hashes to the same address can spend from that address if the public key was not revealed. So you can also brute force addresses that have only received coins. The question is can you find efficient algorithms for quantum computers to solve these problems in a reasonable amount of time. |
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