Thekool1s (OP)
Legendary
Offline
Activity: 1512
Merit: 1218
Change is in your hands
|
|
August 06, 2014, 05:09:54 PM Last edit: August 06, 2014, 05:36:13 PM by Thekool1s |
|
Guys i wanted to discuss about quantum computers, How will they affect BTC
1st thing is that these computers will be 1000s of times faster than the current super computer so my question is what will happen to the difficulty if it rises like a rocket then the price of BTC will also rise like a rocket?
2nd thing is hacking, When these computers get to the consumer market won't hacking become a problem?
Edit: One more question will this also mean the 21 million bitcoins will be made faster?
For now i have got these points i will edit as the post progresses.
|
|
|
|
|
Thekool1s (OP)
Legendary
Offline
Activity: 1512
Merit: 1218
Change is in your hands
|
|
August 06, 2014, 05:34:17 PM Last edit: August 06, 2014, 05:47:13 PM by Thekool1s |
|
Youtube doesn't open in pakistan, I don't visit any site other than bitcointalk.org for bitcoin infromation and your 3rd link is also a youtube link. So even if i had searched it would have been no use.
|
|
|
|
BitCoinDream
Legendary
Offline
Activity: 2380
Merit: 1209
The revolution will be digital
|
|
August 06, 2014, 05:35:43 PM |
|
Guys i wanted to discuss about quantum computers, How will they affect BTC
1st thing is that these computers will be 1000s of times faster than the current super computer so my question is what will happen to the difficulty if it rises like a rocket then the price of BTC will also rise like a rocket?
2nd thing is hacking, When these computers get to the consumer market won't hacking become a problem?
For now i have got these points i will edit as the post progresses.
This is actually a well discussed topic since 2010. Just to note, if Quantum computers break bitcoin, then they'll break your online banking too. So, first worry about that.
|
|
|
|
|
Thekool1s (OP)
Legendary
Offline
Activity: 1512
Merit: 1218
Change is in your hands
|
|
August 06, 2014, 05:45:54 PM |
|
Thanks but can you answer my last question?
|
|
|
|
Koko
|
|
August 06, 2014, 06:40:29 PM |
|
Youtube doesn't open in pakistan, I don't visit any site other than bitcointalk.org for bitcoin infromation and your 3rd link is also a youtube link. So even if i had searched it would have been no use. Can't you use a proxy?
|
|
|
|
Capt Drake
|
|
August 06, 2014, 07:33:37 PM |
|
Even if they breake the first encryption of bitcoin, which I think it has 3, the other 2 will be strong enough for the hacker won't be able to steal your coins, however, if you send your coins to another wallet, the hacker would be able to figure your private key and then your wallet security would be compromised. So, every time that you send your coins to an address, you'll have to send all of your coins to another one, and keep doing that forever.
That's what I've read in some article around here.
|
|
|
|
jonald_fyookball
Legendary
Offline
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
|
|
August 06, 2014, 07:33:42 PM |
|
Thanks but can you answer my last question? No amount of computing power will make the 21,000,000 coins come faster because difficulty is always adjusted.
|
|
|
|
FUR11
Sr. Member
Offline
Activity: 378
Merit: 250
FURring bitcoin up since 1762
|
|
August 06, 2014, 08:21:19 PM |
|
Guys i wanted to discuss about quantum computers, How will they affect BTC
1st thing is that these computers will be 1000s of times faster than the current super computer so my question is what will happen to the difficulty if it rises like a rocket then the price of BTC will also rise like a rocket?
2nd thing is hacking, When these computers get to the consumer market won't hacking become a problem?
Edit: One more question will this also mean the 21 million bitcoins will be made faster?
For now i have got these points i will edit as the post progresses.
It depends whether one-way mathematical functions can be reversed. If that happens, we have a problem. Also, it isn't a question how fast quantum computers are, but rather if they are able to solve the problems needed in order to 'crack' bitcoin. If they can, we are immediately burned.
|
|
|
|
franky1
Legendary
Online
Activity: 4368
Merit: 4740
|
|
August 06, 2014, 09:52:57 PM |
|
ok here goes
SuperMUC the super computer in germany is the equivelent of 110,000 personal computers.
how we all know from the old CPU mining days that CPU mining can only handle 5-7M/hash a second mining bitcoin. so superMUC would be the equivalent of 550Ghash (half a terrahash)
yes that's right SuperMUC is only a half a terrahash bitcoin miner. now if a quantum computer is 1000 times that would be half a petahash
so with bitcoin hash power at 138/170 petahash's. there would still need to be about 300 quantum computers based on the 1000x the speed of SuperMUC figure given by the OP
|
I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
|
|
|
FUR11
Sr. Member
Offline
Activity: 378
Merit: 250
FURring bitcoin up since 1762
|
|
August 06, 2014, 09:56:40 PM |
|
ok here goes
SuperMUC the super computer in germany is the equivelent of 110,000 personal computers.
how we all know from the old CPU mining days that CPU mining can only handle 5-7M/hash a second mining bitcoin. so superMUC would be the equivalent of 550Ghash (half a terrahash)
yes that's right SuperMUC is only a half a terrahash bitcoin miner. now if a quantum computer is 1000 times that would be half a petahash
so with bitcoin hash power at 138/170 petahash's. there would still need to be about 300 quantum computers based on the 1000x the speed of SuperMUC figure given by the OP
You are talking about a quantum computer that is running a Turing complete machine, i.e. is a multi-/all-purpose machine. If you optimize that quantum computer to do one thing (SHA256) things will look dramatically different. Also: what if you use a quantum computer to reverse one-way mathematical functions? Goodbye, PoW....
|
|
|
|
Omikifuse
Legendary
Offline
Activity: 1834
Merit: 1009
|
|
August 06, 2014, 10:05:41 PM |
|
If quantum computers really going to exist, we will need to update our crypto protocols to stronger ones(SHA-1024)?
But the same crypto technology still can be used, so we will only need some adaptation after the panic wave
|
|
|
|
FUR11
Sr. Member
Offline
Activity: 378
Merit: 250
FURring bitcoin up since 1762
|
|
August 06, 2014, 10:23:01 PM |
|
If quantum computers really going to exist, we will need to update our crypto protocols to stronger ones(SHA-1024)?
But the same crypto technology still can be used, so we will only need some adaptation after the panic wave
If they really can break one-way mathematical functions, just updating to a more complex one doesn't work... It's a question of what exactly will be possible with quantum computers.
|
|
|
|
jonald_fyookball
Legendary
Offline
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
|
|
August 06, 2014, 10:31:12 PM |
|
If quantum computers really going to exist, we will need to update our crypto protocols to stronger ones(SHA-1024)?
But the same crypto technology still can be used, so we will only need some adaptation after the panic wave
If they really can break one-way mathematical functions, just updating to a more complex one doesn't work... It's a question of what exactly will be possible with quantum computers. sigh...already been discussed to death in other threads. there is no known or even theorized quantum algo or speedup for breaking one way functions. only ECDSA.
|
|
|
|
FUR11
Sr. Member
Offline
Activity: 378
Merit: 250
FURring bitcoin up since 1762
|
|
August 06, 2014, 10:36:08 PM |
|
If quantum computers really going to exist, we will need to update our crypto protocols to stronger ones(SHA-1024)?
But the same crypto technology still can be used, so we will only need some adaptation after the panic wave
If they really can break one-way mathematical functions, just updating to a more complex one doesn't work... It's a question of what exactly will be possible with quantum computers. sigh...already been discussed to death in other threads. there is no known or even theorized quantum algo or speedup for breaking one way functions. only ECDSA. Yeah: no _known_! Like I said, we'll probably be safe off, but can't be sure since something just _might_ come around the corner and prove our current systems to be flawed. It wouldn't be the first time that happened with some technology!
|
|
|
|
doubleredrolex
Full Member
Offline
Activity: 211
Merit: 100
I Believe
|
|
August 06, 2014, 11:02:04 PM |
|
I think a lot of things will have to change when quantum computers come into existence. Im sure we will cross that bridge when we get to it. No point speculating whats going to happen when the computers don't even exist yet.
|
|
|
|
frankh13
Newbie
Offline
Activity: 35
Merit: 0
|
|
August 07, 2014, 12:36:46 AM |
|
Guys i wanted to discuss about quantum computers, How will they affect BTC
1st thing is that these computers will be 1000s of times faster than the current super computer so my question is what will happen to the difficulty if it rises like a rocket then the price of BTC will also rise like a rocket?
2nd thing is hacking, When these computers get to the consumer market won't hacking become a problem?
Edit: One more question will this also mean the 21 million bitcoins will be made faster?
For now i have got these points i will edit as the post progresses.
May be with 1000 that machines you can to do a 51% atack!!! For to be serious, no. Actually on block all systems spent 10 min. at all gear power.
|
|
|
|
TinEye
|
|
August 07, 2014, 12:51:29 AM |
|
The quantum computers you are thinking of are in realms of deep science fiction. You don't have to worry about it in the forseeable future.
By the time they come BTC might even have gone Netscape's way.
|
|
|
|
|
|