Topic: Can Quantum Computer's destroy Blockchain and Bitcoins[SHA-256 specifically] - page 5. (Read 1532 times)

in other words, satoshi got the ball rolliing. that was a huge achievement in and of itself. he put enough pieces of the puzzle together to get people working on it to where it is today.

question is: what if satoshi never existed? would we have any cryptocurrencies at all right now?

The issue is the second point. It was pretty obvious that public keys can be compressed, but whether that created an intrinsic failure while implementing this was at stake.  Also, without the compression there may be other fun mathematics possible.

For some things that Satoshi did not comment on, I believe it to be more of a caution of implementing carefully, knowing that there are limitations to an individual and even organisations debugging code. The main principles were his insight, while implementations in all code requires a larger community and prolonged testing (which bitcoin has been successful at).

To be fair, on one person is going to be able to solve everything, that's the beauty about open source. Even if it wasn't open source, you have departments within development companies for a reason. A lot of the time its not even the coders that are coming up with the ideas, there's a department that thinks about about the improve the product, and then the developers translate that into code. So, while Satoshi might have not known everything, that really wasn't a problem. Satoshi isn't a god, and although this community, and the general Bitcoin community have sort of built in into their mind that he was some god that knew everything, that definitely wasn't the case, as with everyone.

If you look at pretty much every scientist, they've had breakthroughs which have changed how we view the world, but they've also been equally wrong in some theories. Satoshi is no different. Bitcoin is no different. The beauty of it is Bitcoin is open source, Satoshi knew if he could gather enough attention, as well as develop it enough to get the fundamentals down, he knew other people would contribute to the code. So, Satoshi might have lightly brushed the surface on a lot of things, because at the time they weren't a priority, the priority was to get the fundamentals down, plan enough in the future so that the next few years there wouldn't be too many problems, but thinking about quantum computers or even compressing public keys probably wasn't necessary at the time.

It's quite common for a developer to do the fundamentals, and then revisit, and add polish where necessary. Besides, wasting time coming up with a solution to every problem is inefficient when the project is open source, and there's likely going to be several others looking for solutions. As the saying goes two eyes is better than one, and in this case multiple brains will always trump one brain when it comes to such a huge task.

Its always been possible to protect against it. Though, why protect against something which is unlikely to happen in the next decade, when you could be focusing on other things? If quantum computers happen to break Bitcoin sooner than expected, as you say multiple other industries would be in trouble too. Bitcoin, would likely be the least enticing target if a malicious user wanted to benefit from using quantum computers as a way of attack.

As you can see, he thought what will happen when the difficulty will be higher. But he didn't know how to "instead of making ฿50 every 20 hours, make ฿5 every 2 hours" in a decentralized way. That means knowing some topic and talking about it is something completely different than doing that in practice and turning ideas into code.

Right? the fact that he even commented on them at all is quite remarkable given that at that time, Quantum computing hadn't really gained the headlines it now commands in the "nightly news". Gotta hand it to satoshi. He knew a little about everything.

I don't see quantum computers a threat for bitcoin and with recent changes in Taproot protocol it will be possible to protect against that, if it ever happens.
If this thing ever happens it would affect all military grade encryption, banks and everything else that don't have protection for that.

SH256 algorithm is secure enough for most cases, SSL Certificates is using it for all websites today.

He was not prophet to see what will happen in future on every aspect related with Bitcoin, including quantum computers.

There are a couple of quotes from Satoshi I am aware of which are relevant here:



Quantum computers will not break bitcoin overnight. It will take decades of slow progress that everyone can see coming before they become a threat, and they will break many other weaker algorithms along the way. They also only provide a linear increase in the speed to find a hash collision (as opposed to an exponential increase in the speed to solve the ECDLP), and so are unlikely to be able to break SHA256. But if it ever was to become a concern, then as Satoshi has said above, we will have plenty of time to transition in an orderly way to new quantum resistant functions and algorithms.

This belongs to the Development & Technical Discussion.

Unless the computational resources are enough to find an SHA256 collision (such as 64 zeroes), it doesn't matter. The difficulty is responsible for keeping the block interval at 10 minutes on average whether there are millions of ASICs running or just a GPU.

Yes. We theoretically can change to a quantum resistant algorithm if it ever becomes needed.

SHA256 isn't an encryption scheme. It's just a hash function. The potential threat of quantum computing comes from solving the ECDLP. In other words, the ability to reverse a public key to private key.

Have been researching QC's and bitcoin for months. It is not clear from many sources of the World Wide Web whether or not QC is a threat to the sha256 of Bitcoin.
1.Can we if possible mine more than the specified value of BTC in less than a minute with the help of a powerfully-eligible Quantum Computer?

Agree that QC's can destroy Elliptic Curve Digital Signature Algorithm and steal our private keys. So considering all of the above threats,

2.Is it possible to fork Bitcoin and solve the following problems?

3.How to secure the SHA256 encryption and make it immutable to QC attacks?

I am pretty sure, Satoshi Nakamoto must have thought about the possible problems there has to be a solution, but exactly where?