Bitcoin VS Super Computers in 2040 - page 2.

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Quote from: irfan_pak10 on October 24, 2024, 03:21:23 PM

Hey everyone,

For some days, I have been meaning to pose this question here, Have you ever thought about what might happen to Bitcoin and other cryptocurrencies once supercomputers become mainstream?

As by 2040, the computational power going to obsolete the current machines, How are quantum computers going to affect the crypto, especially bitcoin and how we secure, scale, and even mine crypto?

Will Bitcoin adapt to such computational power, or could supercomputers make existing blockchain security obsolete?
What about mining, will supercomputers centralize it and put power into the hands of a few?

Curious to hear what you think whats going to happen in 2040, will bitcoin survive or the bubble we are hearing for few years will burst?

In my opinion, this is not the biggest problem that threatens the development of Bitcoin.

There is a huge amount of super-important infrastructure in the world that is protected by encryption. If super-complex quantum computers are created that are capable of cracking modern encryption systems, then Bitcoin will not be their primary target. In addition, Bitcoin developers are qualified and smart specialists. If a serious threat arises, they will take appropriate measures.

Therefore, in my opinion, there is nothing to worry about. Bitcoin derivatives, legislative regulation, competition from artificial intelligence are much more dangerous for Bitcoin.

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Quote from: Maslate on October 25, 2024, 12:31:43 AM

If it could crack the Bitcoin network and break its algorithms, that would be a huge threat. But if there’s no problem there, I think Bitcoin will stay just as secure as it is now. The big thing to look at is mining. Traditional mining might get outpaced once quantum computers become available because many miners would likely switch to quantum mining as it solves cryptographic puzzles much faster. This would push smaller miners out of the game, making the mining process more centralized, controlled by those with enough money to use quantum computers.

Are there any small miners left at the moment? It seems to me that they have long been pushed out by large Bitcoin mining enterprises. Isn't that so? You are a little late to talk about this. What is the point of mining for individuals now? After all, it has practically no meaning. There is no profit and there will be none.

As for supercomputers, you don't have to worry about that. Why? By the time such computing power becomes commonplace, the algorithms of blockchain technology will have changed and will become much more advanced than we can see today.

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An interesting question but, in my opinion Whatever type of technology and equipment will be used later, they must follow the BTC working pattern otherwise it will be irrelevant. Satoshi was a smart guy and he was able to read which way the wind was going.

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Quote from: Sanitough on October 25, 2024, 05:42:00 AM

After watching that video, I’m convinced that this is the future. The US is pouring big money into it, but according to the video, China’s way ahead, tripling the investment of the US in this field. One thing I remember is that they said it’ll uncover secrets of the world and shake up different areas, especially in research, since quantum computers could fast-track analysis to help researchers hit their goals.

Now, if we look at this in relation to the crypto network, especially Bitcoin, it could make mining easier and more efficient, which would be a big plus for miners. They’d probably shift to this new tech since no one wants to be outdated, and staying ahead means higher profits.

When it comes to the idea of "Bitcoin VS Supercomputers in 2040," it’s not really a battle. Bitcoin would likely still be around as long as the algorithm isn’t changed by quantum computing; otherwise, this multi-billion-dollar market could take a serious hit.

While I do agree the super computer stuff will happen in the future, what people are missing out here is that we could literally just make this work for our for as well, we just need to make sure we are dealing with better bitcoin encryption that's it. Literally just a single code change, we just make it ten times harder to crack, and that isn't impossible, instead of sha256 or anything else, we come up with something harder to do and even super computers won't be able to touch it.

So there is really nothing to worry about, I understand people are fearing the power of a computer like that, and they are right, because not everything is blockchain, so we are going to be in trouble without a doubt, but not about bitcoin.

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Quote from: Z-tight on October 24, 2024, 04:40:32 PM

We have had this discussion a lot of times already, before super computers become a threat to BTC, we would have moved to an algorithm that is resistant to it. The development of quantum computers is a gradual process that will take a lot of years, it is not like we would wake up one morning and QC is set to break BTC, this gives the network ample time to develop a resistant algorithm.

However, take note that if QC is ever a threat to BTC's SHA-256 algorithm, then the threat does not rest on only BTC, but on a lot of industries, and BTC may even be of lower interest for attackers.

Im also advocate that if QC can decrypt the SHA 256, it can also fortify not even AI tech can break it at that point. Things are moving so fast in this era that this technology has to improve a lot to avoid becoming obsolete at any time. Even gas fees are going to obsolete at that time so many crypto's that are depending on it might have to think otherwise.

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Quote from: kryptqnick on October 25, 2024, 05:31:44 AM

To be honest, I don't think we will have supercomputers by 2040. There's been a lot of progress over the last few decades with computers, but the progress has been slowing down. To have proper quantum computers, I think we're at a point where more scientific research and some progress in understanding of quantum physics is required to make it work. So I believe Bitcoin is safe and will be safe for a while, but if something does happen, I think blockchain can adapt and cryptos can still thrive.

I was interested on this topic so I watch this youtube vid.

The Race to Harness Quantum Computing's Mind-Bending Power | The Future With Hannah Fry

After watching that video, I’m convinced that this is the future. The US is pouring big money into it, but according to the video, China’s way ahead, tripling the investment of the US in this field. One thing I remember is that they said it’ll uncover secrets of the world and shake up different areas, especially in research, since quantum computers could fast-track analysis to help researchers hit their goals.

Now, if we look at this in relation to the crypto network, especially Bitcoin, it could make mining easier and more efficient, which would be a big plus for miners. They’d probably shift to this new tech since no one wants to be outdated, and staying ahead means higher profits.

When it comes to the idea of "Bitcoin VS Supercomputers in 2040," it’s not really a battle. Bitcoin would likely still be around as long as the algorithm isn’t changed by quantum computing; otherwise, this multi-billion-dollar market could take a serious hit.

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Quote from: kryptqnick on October 25, 2024, 05:31:44 AM

To be honest, I don't think we will have supercomputers by 2040. There's been a lot of progress over the last few decades with computers, but the progress has been slowing down. To have proper quantum computers, I think we're at a point where more scientific research and some progress in understanding of quantum physics is required to make it work. So I believe Bitcoin is safe and will be safe for a while, but if something does happen, I think blockchain can adapt and cryptos can still thrive.

We can only hope that the blockchain will be able to adapt and thrive even with such machines in place.
I think the crypto space will be able to do so Grin

Together.

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To be honest, I don't think we will have supercomputers by 2040. There's been a lot of progress over the last few decades with computers, but the progress has been slowing down. To have proper quantum computers, I think we're at a point where more scientific research and some progress in understanding of quantum physics is required to make it work. So I believe Bitcoin is safe and will be safe for a while, but if something does happen, I think blockchain can adapt and cryptos can still thrive.

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Quote from: Iranus on October 25, 2024, 04:56:16 AM

Quote from: davis196 on October 25, 2024, 02:10:30 AM

Why should we care about what will happen in 2040? We still have plenty of time.
If Bitcoin cannot survive the future quantum computing revolution, then I will most likely leave the crypto world. We shouldn't be so tied to BTC or any other cryptocurrency. At the end of the day, all that matters is our own personal wealth. If Bitcoin can help us grow our wealth, we will stick to BTC. If Bitcoin becomes obsolete, we will dump it and find another asset that will help us grow our wealth. Being obsessed with a certain financial asset or cryptocurrency is simply stupid. I don't want Bitcoin to become an investment cult, just like the Gamestop stocks or the other company(the company name was BBB,if I remember correctly), that had investors, who were obsessed with buying stocks.

It sounds harsh but what you say is true.

After all, our ultimate goal here is to improve our finances, to find wealth, nothing more, nothing less. If there is anything we should care about, it is our lives and our loved ones. Other things should be seen as tools that serve us and if they no longer have value to us then there is no reason to keep them. Furthermore, worshipping or venerating an inanimate object will not bring us any benefits, there is no reason to do such a meaningless thing.

It cannot be said that we are completely unconcerned about the future of bitcoin because its future will also affect our future. But 2040 is still too far away to think about. I even believe that if bitcoin doesn't bring wealth to people here in the next 10 years, no one will care about it, let alone they care about it in 2040 or 2140.

I would say that some put BTC as an invention and the tool for decentralization of some processes first and foremost, not as a tool of investment, however, as time moves on, more and more people consider it only for such reason - to get money out of it eventually. It's not seen to be learned and innovated upon.
I do understand where this belief comes from, however, I do not see it happening Grin

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Quote from: davis196 on October 25, 2024, 02:10:30 AM

Why should we care about what will happen in 2040? We still have plenty of time.
If Bitcoin cannot survive the future quantum computing revolution, then I will most likely leave the crypto world. We shouldn't be so tied to BTC or any other cryptocurrency. At the end of the day, all that matters is our own personal wealth. If Bitcoin can help us grow our wealth, we will stick to BTC. If Bitcoin becomes obsolete, we will dump it and find another asset that will help us grow our wealth. Being obsessed with a certain financial asset or cryptocurrency is simply stupid. I don't want Bitcoin to become an investment cult, just like the Gamestop stocks or the other company(the company name was BBB,if I remember correctly), that had investors, who were obsessed with buying stocks.

It sounds harsh but what you say is true.

After all, our ultimate goal here is to improve our finances, to find wealth, nothing more, nothing less. If there is anything we should care about, it is our lives and our loved ones. Other things should be seen as tools that serve us and if they no longer have value to us then there is no reason to keep them. Furthermore, worshipping or venerating an inanimate object will not bring us any benefits, there is no reason to do such a meaningless thing.

It cannot be said that we are completely unconcerned about the future of bitcoin because its future will also affect our future. But 2040 is still too far away to think about. I even believe that if bitcoin doesn't bring wealth to people here in the next 10 years, no one will care about it, let alone they care about it in 2040 or 2140.

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Quote from: Wonder Work on October 25, 2024, 01:30:22 AM

Quote from: irfan_pak10 on October 24, 2024, 03:21:23 PM

Will Bitcoin adapt to such computational power, or could supercomputers make existing blockchain security obsolete?
What about mining, will supercomputers centralize it and put power into the hands of a few?

Bitcoin and super-computers are a complex and dynamic topic, but the way it's unfolding seems likely to affect the future of cryptocurrency and the security of blockchain technology.

Super-Computers and Quantum-Computers Will Threaten Bitcoin Security. It's been heard for a long time now but I'm not surprised because we can see and know how much technology is progressing and when quantum-computers are released we will see who Bitcoin is. Different types of technologies will come to protect against threats. Because the quantum-computer will not happen overnight, it will take a lot of time to be released and when it is released, there will be something out there to protect BTC, so there is nothing to fear about it.

Don't place hope on another technology battling another.
And besides would the government allow the releases of Quantum computers to the public well knowing that it could pose a threat to their security more.
Well they can use it themselves for an attack on the blockchain
Success is probable but lean more towards failure but it could be used to crack wallets especially for individuals who use same address.

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Quote from: Wonder Work on October 25, 2024, 01:30:22 AM

Quote from: irfan_pak10 on October 24, 2024, 03:21:23 PM

Will Bitcoin adapt to such computational power, or could supercomputers make existing blockchain security obsolete?
What about mining, will supercomputers centralize it and put power into the hands of a few?

Bitcoin and super-computers are a complex and dynamic topic, but the way it's unfolding seems likely to affect the future of cryptocurrency and the security of blockchain technology.

Super-Computers and Quantum-Computers Will Threaten Bitcoin Security. It's been heard for a long time now but I'm not surprised because we can see and know how much technology is progressing and when quantum-computers are released we will see who Bitcoin is. Different types of technologies will come to protect against threats. Because the quantum-computer will not happen overnight, it will take a lot of time to be released and when it is released, there will be something out there to protect BTC, so there is nothing to fear about it.

Time is the greatest protector of them all.
I do think that the solution will be ready when the time comes.
Hopefully, at least Grin

The crypto space depends on it.

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Quantum computers can pose a serious threat to Bitcoin, in particular, to its cryptographic security, for instance, breaking with Shor's algorithm that may expose private keys from public Bitcoin addresses. But the crypto world is already developing quantum resistant encryption techniques with which to protect Bitcoin and other blockchains. While the current security of Bitcoin, such as the SHA256 hash function is somewhat resistant to quantum attacks, further upgrades may well be required to keep up with the development in quantum technologies.

Other concerns include how supercomputers could centralize mining in those entities that have access to such technology and may, therefore, undermine Bitcoin's decentralized architecture. With such prospects in the air, there are reports of developers considering countermeasures, from hard forks to quantum resistant algorithms to even a consensus algorithm change to PoS, said to be more resistant to quantum attacks than PoW is. It means that the crypto ecosystem would, by 2040, have adapted to the fact that there is most definitely going to be an improved structure of security or new framework coexisting with quantum advancements rather than a total collapse.

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Quote from: irfan_pak10 on October 24, 2024, 03:21:23 PM

Hey everyone,

For some days, I have been meaning to pose this question here, Have you ever thought about what might happen to Bitcoin and other cryptocurrencies once supercomputers become mainstream?

As by 2040, the computational power going to obsolete the current machines, How are quantum computers going to affect the crypto, especially bitcoin and how we secure, scale, and even mine crypto?

Will Bitcoin adapt to such computational power, or could supercomputers make existing blockchain security obsolete?
What about mining, will supercomputers centralize it and put power into the hands of a few?

Curious to hear what you think whats going to happen in 2040, will bitcoin survive or the bubble we are hearing for few years will burst?

Why should we care about what will happen in 2040? We still have plenty of time.
If Bitcoin cannot survive the future quantum computing revolution, then I will most likely leave the crypto world. We shouldn't be so tied to BTC or any other cryptocurrency. At the end of the day, all that matters is our own personal wealth. If Bitcoin can help us grow our wealth, we will stick to BTC. If Bitcoin becomes obsolete, we will dump it and find another asset that will help us grow our wealth. Being obsessed with a certain financial asset or cryptocurrency is simply stupid. I don't want Bitcoin to become an investment cult, just like the Gamestop stocks or the other company(the company name was BBB,if I remember correctly), that had investors, who were obsessed with buying stocks.

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Quote from: irfan_pak10 on October 24, 2024, 03:21:23 PM

Will Bitcoin adapt to such computational power, or could supercomputers make existing blockchain security obsolete?
What about mining, will supercomputers centralize it and put power into the hands of a few?

Bitcoin and super-computers are a complex and dynamic topic, but the way it's unfolding seems likely to affect the future of cryptocurrency and the security of blockchain technology.

Super-Computers and Quantum-Computers Will Threaten Bitcoin Security. It's been heard for a long time now but I'm not surprised because we can see and know how much technology is progressing and when quantum-computers are released we will see who Bitcoin is. Different types of technologies will come to protect against threats. Because the quantum-computer will not happen overnight, it will take a lot of time to be released and when it is released, there will be something out there to protect BTC, so there is nothing to fear about it.

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Quote from: Maslate on October 25, 2024, 12:31:43 AM

If it could crack the Bitcoin network and break its algorithms, that would be a huge threat. But if there’s no problem there, I think Bitcoin will stay just as secure as it is now. The big thing to look at is mining. Traditional mining might get outpaced once quantum computers become available because many miners would likely switch to quantum mining as it solves cryptographic puzzles much faster. This would push smaller miners out of the game, making the mining process more centralized, controlled by those with enough money to use quantum computers.

After all, as it was said, if it were - cracked - BTC wouldn't be first on the list to be harmed or things along the lines of it, and, probably, the pace at which it all goes wouldn't be as fast as to not come up with the solution in time.

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If it could crack the Bitcoin network and break its algorithms, that would be a huge threat. But if there’s no problem there, I think Bitcoin will stay just as secure as it is now. The big thing to look at is mining. Traditional mining might get outpaced once quantum computers become available because many miners would likely switch to quantum mining as it solves cryptographic puzzles much faster. This would push smaller miners out of the game, making the mining process more centralized, controlled by those with enough money to use quantum computers.

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lets see summer of 2012 the network was

21 th

fall of 2024

the network is

650,000,000th

so in 12 years hashrate is 30,000,000 bigger and solving blocks are a bitch.

i don’t worry about 16 years from now computers are not going to catch up any time soon.

the bigger issue is rewards get to small and miners quit mining the coin.

in 2040 we will had 4 more 1/2ings

this means 3.125 reward drops to under 0.2 btc

meaning btc needs to be worth 1 million and the difficulty along with asics and hashrates need to move exactly correct.

to maintain it all. this problem will be very real in 2040 much bigger fear about that then a smart computer magically solving blocks.

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Quote from: irfan_pak10 on October 24, 2024, 03:21:23 PM

Curious to hear what you think whats going to happen in 2040, will bitcoin survive or the bubble we are hearing for few years will burst?

If I remember correctly, since the early days of entering the market, I have heard rumors about quantum computers but so far, I have not seen any threat from it to bitcoin or the crypto industry. It's all just conspiracy theories, hypotheses, rumors, nothing to worry about.

In the future, if quantum computers can develop and reach that level, perhaps bitcoin developers will also find a solution to upgrade bitcoin to adapt to everything. Quantum computing technology is evolving but bitcoin and the crypto industry are not standing still, everything is still being developed so I don't think they will pose a threat to the crypto industry.
But in all fairness, the future is unpredictable so depending on the situation, we should have a specific response plan.

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Quote from: irfan_pak10 on October 24, 2024, 03:21:23 PM

Will Bitcoin adapt to such computational power, or could supercomputers make existing blockchain security obsolete?
What about mining, will supercomputers centralize it and put power into the hands of a few?

Super computers, quantum computers as threats to Bitcoin security is a long debate but I am not tech guys, my thinking is simple like this. Technologies are created by human and if they can create super computers, quantum computers, they are able to create other things to provide better security against these threats of security.

Like some decades ago, computational power was very smaller than in 2024, and technologies for security have been developing considerably over time too.

I believe in current security of Bitcoin blockchain as well as capability of Bitcoin developers to enhance its blockchain security against such threats in future.

Quantum computers and Bitcoin (2012)
I don't believe Quantum Computing will ever threaten Bitcoin (2019)

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