Quantum questions

[618p5]

Hello!

What do you think will happen when the new quantum resistant addresses are here and everyone have to transfer their bitcoins?
How much time do you think it will take for that to happen?

Some people are saying the quantum threat is 10-20 years ahead, others - 2 to 3 years, but who knows. For sure it will be the biggest transfer of digital wealth in human history.

[BitGoba]

Banks and fiat currencies will be exposed to quantum attacks first. They have much weaker protection than Bitcoin itself. When banks, Visa, Mastercard, and the fiat system start upgrading to become quantum-resistant, Bitcoin will still have another 10 years after that.

[mcdouglasx]

Hello!

What do you think will happen when the new quantum resistant addresses are here and everyone have to transfer their bitcoins?
How much time do you think it will take for that to happen?

Some people are saying the quantum threat is 10-20 years ahead, others - 2 to 3 years, but who knows. For sure it will be the biggest transfer of digital wealth in human history.

This change would not be instantaneous, happening overnight; this change will most likely be gradual.

The switch to quantum-resistant algorithms will likely be a normal process without profound repercussions, simply a matter of migrating your exposed funds to new addresses. Obviously, a huge amount of technical work will be required behind the scenes, but I'm confident this will be achieved. If anything, Bitcoin should be the least of our global concerns.

[bitmover]

Some people are saying the quantum threat is 10-20 years ahead, others - 2 to 3 years, but who knows. For sure it will be the biggest transfer of digital wealth in human history.

I really doubt it.  "Biggest transer of wealth in human history?" Wtf.

Ofc it will never happen anything like that. Bitcoin would just go to zero if keys could be bruteforced like that.  Even in a distant future, it won't happen.

If no fork could solve it,  in the worst case scenario it would just go to zero after a few hacks and no wealth would be transfered anymore.

[bitcoindusts]

Honestly I have no idea how long will the migration better to read what the one who have a better understanding of the situation have to say.   According to one of the article of  coinmarketcap about Bitcoin Post  Quantum Migration, it needs 5-10 years .  We can read a detail information here: Bitcoin's Post-Quantum Migration Needs 5-10 Years, Casa Co-Founder Says

This change would not be instantaneous, happening overnight; this change will most likely be gradual.

Yes it says the process is gradual that is why it will take sometimes and as the article I linked stated, it would take 5-10 years.

[618p5]

Some people are saying the quantum threat is 10-20 years ahead, others - 2 to 3 years, but who knows. For sure it will be the biggest transfer of digital wealth in human history.

I really doubt it.  "Biggest transer of wealth in human history?" Wtf.

Ofc it will never happen anything like that. Bitcoin would just go to zero if keys could be bruteforced like that.  Even in a distant future, it won't happen.

If no fork could solve it,  in the worst case scenario it would just go to zero after a few hacks and no wealth would be transfered anymore.

I meant that you and everyone who wants a secure post-quantum address will have to make a transaction to those new types of wallet addresses.

Not that the people with quantum computers will hack the coins and transfer them.

[Ambatman]

Quantum answer
Quantum should be One of the most used word on this forum since late last year.

What do you think will happen when the new quantum resistant addresses are here and everyone have to transfer their bitcoins?

People that can and want to would move their coins to the new address.

How much time do you think it will take for that to happen?

It would be determined by who's making the transfer.

The current part quantum pure a threat to are reused addresses
Let's just say addresses with pubkeys known.

[KingsDen]

If no fork could solve it,  in the worst case scenario it would just go to zero after a few hacks and no wealth would be transfered anymore.

How will it get to zero since not all addresses are vulnerable. People whose public keys aren't exposed are actually going to Hold. But I don't believe how people are projecting this quantum threat like a solutionless threat. I believe that a clear solution will suffice, if not a hard fork will solve the problem.

Some people are saying the quantum threat is 10-20 years ahead, others - 2 to 3 years, but who knows. For sure it will be the biggest transfer of digital wealth in human history.

Forget about the projections, it could be nearer than you think. And I am buying into the idea of BitGoba that banks will first fall victim before bitcoin. This is my first time hearing this and it is giving a resounding hope.

[X-ray]

Some people are saying the quantum threat is 10-20 years ahead, others - 2 to 3 years, but who knows. For sure it will be the biggest transfer of digital wealth in human history.

2 to 3 years is unrealistic, the best logical qubit is from Google Willow and they only have 1-2 logical qubits consisted of 100+ physical qubits, other might have around 50 logical qubits but they are not reliable and have high error rate, we need thousands of reliable logical qubits to break bitcoin encryption by the way.

10 - 20 years ahead make more sense, with a big IF that any company developing quantum computer doesn't face roadblock in term of scaling their logical qubits.

[bitmover]

If no fork could solve it,  in the worst case scenario it would just go to zero after a few hacks and no wealth would be transfered anymore.

How will it get to zero since not all addresses are vulnerable. People whose public keys aren't exposed are actually going to Hold. But I don't believe how people are projecting this quantum threat like a solutionless threat. I believe that a clear solution will suffice, if not a hard fork will solve the problem.

Bitcoin works and have value because it is safe. This is the basic principle of bitcoin.

If you remove the security, it is worthless.

Anyway. "Biggest transfer of wealth of human history" is delusional.