Bitcoin is a unique asset that will be held by investors for its store of value.
Bitcoin's uniqueness cannot be duplicated, or at least it hasn’t yet. This is what makes it unique and comparable to a collectible.
https://medium.com/@hongminhvu.96/craig-melvin-remembers-his-late-brother-lawrence-his-suffering-is-over-35b3593d7e06
Topic: Did Satoshi think that quantum computers will exist? (Read 1907 times)
Probably yes, i think he might have planned it a stepped ahead because there's a feature that's called halving that happens whenever the miners start solving blocks really quick, that's why he has some counter measures to make the process of mining BTC much more difficult. He even made the Bitcoin source code open sourced, which is really a brilliant move, lt would enable us to fix or modify the code. If Bitcoin encounters problems like quantum computers.
Quantum computing boost for IBM but Bitcoin stays safe https://decrypt.co/16211/quantum-computing-boost-for-ibm-but-bitcoin-stays-safe
IBM has doubled the power of its quantum computer but Bitcoin's encryption is still far from being broken.
"IBM has doubled the power of its quantum computer. At yesterday's CES 2020 conference, the company announced it had successfully achieved a Quantum Volume of 32 using its 28-qubit quantum computer known as Raleigh."
"As a network built entirely around cryptographically secured transactions, it stands to reason that a sufficiently powerful quantum computer could eventually crack the encryption used to generate Bitcoin private keys. However, according to a June 2017 paper by Martin Roetteler and several co-authors, such as a machine would need to command approximately 2,500 qubits of processing power to break the 256-bit encryption used by Bitcoin."
Interesting. I know 2500 is far from current 28 qubit but it still scares me a little. Not long ago I've read about 11-qubit quantum computer. How long do you think it will take to develop 2500 qubit computer? I hope Moore's law doesn't apply here.IBM has doubled the power of its quantum computer but Bitcoin's encryption is still far from being broken.
"IBM has doubled the power of its quantum computer. At yesterday's CES 2020 conference, the company announced it had successfully achieved a Quantum Volume of 32 using its 28-qubit quantum computer known as Raleigh."
"As a network built entirely around cryptographically secured transactions, it stands to reason that a sufficiently powerful quantum computer could eventually crack the encryption used to generate Bitcoin private keys. However, according to a June 2017 paper by Martin Roetteler and several co-authors, such as a machine would need to command approximately 2,500 qubits of processing power to break the 256-bit encryption used by Bitcoin."
Honeywell sees path to world’s most powerful quantum computer in 3 months
https://fortune.com/2020/03/03/honeywell-quantum-computer/
Tony Uttley, Honeywell’s president of quantum solutions, believes the company will quickly outpace its rivals. “We’re on a trajectory to increase that quantum volume 10-fold every year for the next five years,” Uttley says.
One thing that I can think of in relation to what might Satoshi was thinking about the possible introduction of quantum computers.
For sure, he thought that someday there will be advanced computers because of the evolving technology.
It is not the case that, his invention will always be the top technology, but it will be the foundation of more sophisticated technologies.
The current trend right now may be obsolete tomorrow. So I guess Satoshi is not considering his invention as the ultimate superior in advanced technology.
Quantum computing boost for IBM but Bitcoin stays safe https://decrypt.co/16211/quantum-computing-boost-for-ibm-but-bitcoin-stays-safe
IBM has doubled the power of its quantum computer but Bitcoin's encryption is still far from being broken.
"IBM has doubled the power of its quantum computer. At yesterday's CES 2020 conference, the company announced it had successfully achieved a Quantum Volume of 32 using its 28-qubit quantum computer known as Raleigh."
"As a network built entirely around cryptographically secured transactions, it stands to reason that a sufficiently powerful quantum computer could eventually crack the encryption used to generate Bitcoin private keys. However, according to a June 2017 paper by Martin Roetteler and several co-authors, such as a machine would need to command approximately 2,500 qubits of processing power to break the 256-bit encryption used by Bitcoin."
Interesting. I know 2500 is far from current 28 qubit but it still scares me a little. Not long ago I've read about 11-qubit quantum computer. How long do you think it will take to develop 2500 qubit computer? I hope Moore's law doesn't apply here.IBM has doubled the power of its quantum computer but Bitcoin's encryption is still far from being broken.
"IBM has doubled the power of its quantum computer. At yesterday's CES 2020 conference, the company announced it had successfully achieved a Quantum Volume of 32 using its 28-qubit quantum computer known as Raleigh."
"As a network built entirely around cryptographically secured transactions, it stands to reason that a sufficiently powerful quantum computer could eventually crack the encryption used to generate Bitcoin private keys. However, according to a June 2017 paper by Martin Roetteler and several co-authors, such as a machine would need to command approximately 2,500 qubits of processing power to break the 256-bit encryption used by Bitcoin."
Honeywell sees path to world’s most powerful quantum computer in 3 months
https://fortune.com/2020/03/03/honeywell-quantum-computer/
Tony Uttley, Honeywell’s president of quantum solutions, believes the company will quickly outpace its rivals. “We’re on a trajectory to increase that quantum volume 10-fold every year for the next five years,” Uttley says.
Satoshi has mined the most coins.
In 2010 they were talking about lost coins and Satoshi said
1. He thought the coins are lost forever and we have a lot of 'shalecoins' https://bitcointalksearch.org/topic/bitcoin-as-shalecoin-5134441 and they will become active one day
or
2. Satoshi created the greatest prize competition and the privatekeys are somehow within the blockchain. https://bitcointalksearch.org/topic/maybe-satoshi-created-the-greatest-prize-competition-5150688
In 2010 they were talking about lost coins and Satoshi said
Quote
Think of it as a donation to everyone.
https://bitcointalksearch.org/topic/dying-bitcoins-1981. He thought the coins are lost forever and we have a lot of 'shalecoins' https://bitcointalksearch.org/topic/bitcoin-as-shalecoin-5134441 and they will become active one day
or
2. Satoshi created the greatest prize competition and the privatekeys are somehow within the blockchain. https://bitcointalksearch.org/topic/maybe-satoshi-created-the-greatest-prize-competition-5150688
1. Yes, with quantum computers they would become active. Did Satoshi think that quantum computers will exist?
Before we make assumptions and predictions, I think we must know first about quantum computers. Actually, I have read about this new technology before and now that this topic has been opened, I am thankful that I have knowledge regarding it. Quantum computing is invented not to destroy blockchains or affect the safety of cryptocurrencies. It was invented because of the need to perform fast and very complex solutions and equations that a super computer cannot do. The world is constantly developing day by day - with the aid of technology. I think it is easy to predict the next invention but its function on the other hand is not easy to know. Scientists and inventors of today and the future generation is highly capable. Besides, what would be the reason for them to destroy blockchain? Satoshi might be able to assume the occurrence of quantum computing but its effect on bitcoins as you were saying (which is really none) is not.
Since he was an inventor , he did understand that situations will ofcourse change and thus, sooner or later people will invent some more things so for that time it was amazing but with the coming time I do think he ofcourse thought about it .
Even if he didn't he would have understood that already. IT sector is Preety complicated , therefore I do think that everyone who is involved in this understands the same.
We have software updates like every month and we discard the mobile phones who are not able to keep up with things like that .
Change is inevitable.
Even if he didn't he would have understood that already. IT sector is Preety complicated , therefore I do think that everyone who is involved in this understands the same.
We have software updates like every month and we discard the mobile phones who are not able to keep up with things like that .
Change is inevitable.
McAfee’s chief technology officer: Start protecting against quantum computing hacks now
https://venturebeat.com/2020/02/25/mcafee-start-protecting-against-quantum-computing-hacks-now/
McAfee’s chief technology officer warned that it’s time for companies to start worrying about quantum computing attacks that can break common forms of encryption available today, even if quantum computing isn’t going to be practical for a while.
Grobman said. “Now I know what you are thinking: Quantum is not coming anytime soon. But we can’t think of quantum in terms of eventually or tomorrow."
“We need quantum-resistant algorithms as soon as possible,” Grobman said.
https://venturebeat.com/2020/02/25/mcafee-start-protecting-against-quantum-computing-hacks-now/
McAfee’s chief technology officer warned that it’s time for companies to start worrying about quantum computing attacks that can break common forms of encryption available today, even if quantum computing isn’t going to be practical for a while.
Grobman said. “Now I know what you are thinking: Quantum is not coming anytime soon. But we can’t think of quantum in terms of eventually or tomorrow."
“We need quantum-resistant algorithms as soon as possible,” Grobman said.
Although it is still very possible that quantum computing will damage bitcoin, it will take a long time for that to happen and maybe by then, we have moved to a safer algorithm or we might not even exist at all. Yes, he did it and that is why he developed the entire Bitcoin protocol in such a way that difficulties would adjust, based on the level of hash combined at a certain time. Satoshi's caliber and knowledge in the fields of IT, cryptography, and all kinds of technical matters are enormous, and we can see that through his own writing in this forum and in other places on the internet that it is not impossible he has thought of quantum computing as a problem that bitcoin might face in the future so he 'proves the future' of all protocols by implanting many cryptographic keys and algorithms that are difficult to destroy in them. 
......
Fully operational? i guess on some states maybe?
More likely private groups.Fully operational? i guess on some states maybe?
BUILD YOUR OWN QUANTUM COMPUTER AT HOME
https://hackaday.com/2019/12/30/36c3-build-your-own-quantum-computer-at-home/
'As quantum computing is often depicted as cryptography’s doomsday device, it’s of course of concern that someone might just build one in their garage'
This decade the early mined Bitcoins will be moved and will become active.
http://www.digitaljournal.com/tech-and-science/technology/quantum-computer-built-to-prove-conventional-encryption-is-dead/article/567714
Active Cypher built a mini-quantum computer (repurposed hardware running quantum algorithms) to prove that conventional encryption (RSA + AES) is nearing the end.
DJ: What have you been able to demonstrate with your machine?
Gleason: With just $600 in hardware QUBY has been able to demonstrate calculations that take years on conventional computers can be solved substantially quicker.
We're far from this technology to be actually implemented and none of the articles covering quantum computing provide decent info on why BTC holders should be concerned with it
Most likely he suspected that in the foreseeable future, quantum computers would be quite widespread. So far, they mainly work in various laboratories at major universities, but I think that we will see the day when the majority will have quantum computers.
Satoshi has mined the most coins.
In 2010 they were talking about lost coins and Satoshi said
1. He thought the coins are lost forever and we have a lot of 'shalecoins' https://bitcointalksearch.org/topic/bitcoin-as-shalecoin-5134441 and they will become active one day
or
2. Satoshi created the greatest prize competition and the privatekeys are somehow within the blockchain. https://bitcointalksearch.org/topic/maybe-satoshi-created-the-greatest-prize-competition-5150688
In 2010 they were talking about lost coins and Satoshi said
Quote
Think of it as a donation to everyone.
https://bitcointalksearch.org/topic/dying-bitcoins-1981. He thought the coins are lost forever and we have a lot of 'shalecoins' https://bitcointalksearch.org/topic/bitcoin-as-shalecoin-5134441 and they will become active one day
or
2. Satoshi created the greatest prize competition and the privatekeys are somehow within the blockchain. https://bitcointalksearch.org/topic/maybe-satoshi-created-the-greatest-prize-competition-5150688
1. Yes, with quantum computers they would become active. Did Satoshi think that quantum computers will exist?
Possibly, if he did he just didn't prepare for it because it was far enough that Bitcoin would work as a PoC for cryptography as a method to liberate the economy and give it back to the people who really use it instead of hoarding it.
I think we should know what is the quantum computers first? And I think this video is the most understanable information way.
https://www.ted.com/talks/shohini_ghose_quantum_computing_explained_in_10_minutes?utm_campaign=tedspread&utm_medium=referral&utm_source=tedcomshare
If you know what is the quantum computer now. Then you may understand it is not possible to know this things 10 years before.
This video, togher with hundreds of other quantum computer videos I saw, none of them make sense. They typically show you some numbers, did not tell you how did they get those numbers, and just tell you what does those numbers mean, and then it is done
This is similar to : Look at KPI, data proven that inflation is low, so we need to print more money
Satoshi has mined the most coins.
In 2010 they were talking about lost coins and Satoshi said
1. He thought the coins are lost forever and we have a lot of 'shalecoins' https://bitcointalksearch.org/topic/bitcoin-as-shalecoin-5134441 and they will become active one day
or
2. Satoshi created the greatest prize competition and the privatekeys are somehow within the blockchain. https://bitcointalksearch.org/topic/maybe-satoshi-created-the-greatest-prize-competition-5150688
In 2010 they were talking about lost coins and Satoshi said
Quote
Think of it as a donation to everyone.
https://bitcointalksearch.org/topic/dying-bitcoins-1981. He thought the coins are lost forever and we have a lot of 'shalecoins' https://bitcointalksearch.org/topic/bitcoin-as-shalecoin-5134441 and they will become active one day
or
2. Satoshi created the greatest prize competition and the privatekeys are somehow within the blockchain. https://bitcointalksearch.org/topic/maybe-satoshi-created-the-greatest-prize-competition-5150688
1. Yes, with quantum computers they would become active. Did Satoshi think that quantum computers will exist?
I think we should know what is the quantum computers first? And I think this video is the most understanable information way.
https://www.ted.com/talks/shohini_ghose_quantum_computing_explained_in_10_minutes?utm_campaign=tedspread&utm_medium=referral&utm_source=tedcomshare
If you know what is the quantum computer now. Then you may understand it is not possible to know this things 10 years before.
If that's possible then I believe quantum computers can also be used to hack the private keys of other users.
This will make the bitcoin network very vulnerable and hence will break the network eventually by creating a panic in the market.
Satoshi knew that QC will exist.
But not like this one: The $600 quantum computer that could spell the end for conventional encryption https://betanews.com/2020/02/17/quantum-computing-encryption-cracking/
Quantum computing will be cloud computing.
And yes, the "lost" coins will move one day.
But not like this one: The $600 quantum computer that could spell the end for conventional encryption https://betanews.com/2020/02/17/quantum-computing-encryption-cracking/
Quantum computing will be cloud computing.
And yes, the "lost" coins will move one day.
Satoshi did know about it. Quantum was a thing before year 2000. Don't tell me the man who created Bitcoin does not know what quantum is.
If we look at the history of quantum computers, it started around 1980's, so definitely, Satoshi have known and think about quantum computers because it is already existing and developing even before Bitcoin was created.
Re: Did Satoshi think that quantum computers will exist?
He also knew that "second generation quantum computers" will exist.
And for the "second generation quantum computers" people are already developing post SHA-hash signature systems. So we would then change to post SHA-hash signature systems before "second generation quantum computers" exist.
The development of "second generation quantum computers" will bring the most exciting times, hashing will be history. We will make all "lost" coins active.
so i dont see elon getting in on the QC game..
Google’s head of quantum computing, Hartmut Neven:
“In the future race between a Tesla and a Porsche, if one had access to quantum computers and the other company didn’t, the one that doesn’t have access to a quantum processor will lose out because with the quantum process at hand, you will be able to accelerate your battery development very quickly.”
https://dailyhodl.com/2020/02/02/googles-quantum-computing-chief-says-chinas-ambition-may-threaten-us-lead/
Elon Musk needs a quantum computer.
And the Bitcoin network is a place where you can prove that you own a quantum computer, an indicator.
“In the future race between a Tesla and a Porsche, if one had access to quantum computers and the other company didn’t, the one that doesn’t have access to a quantum processor will lose out because with the quantum process at hand, you will be able to accelerate your battery development very quickly.”
https://dailyhodl.com/2020/02/02/googles-quantum-computing-chief-says-chinas-ambition-may-threaten-us-lead/
Elon Musk needs a quantum computer.
And the Bitcoin network is a place where you can prove that you own a quantum computer, an indicator.
Elon Musk
✔
@elonmusk
Cryptocurrency is my safe word
Apr 2019
https://twitter.com/elonmusk/status/1117100699798478849
He met the boss of Google?
Buff Mage
✔
@elonmusk
Bitcoin is *not* my safe word
Jan 2020
https://twitter.com/elonmusk/status/1215526980449255424
✔
@elonmusk
Cryptocurrency is my safe word
Apr 2019
https://twitter.com/elonmusk/status/1117100699798478849
He met the boss of Google?
The boss of Google has warned that quantum computers will be able to break encryption within as little as five years, signalling the growing threat to privacy such technological advances.
https://www.telegraph.co.uk/technology/2020/01/22/googles-sundar-pichai-quantum-computing-could-end-encryption/
"In a five to ten year time frame, quantum computing will break encryption as we know it today."
https://www.telegraph.co.uk/technology/2020/01/22/googles-sundar-pichai-quantum-computing-could-end-encryption/
"In a five to ten year time frame, quantum computing will break encryption as we know it today."
Buff Mage
✔
@elonmusk
Bitcoin is *not* my safe word
Jan 2020
https://twitter.com/elonmusk/status/1215526980449255424
My opinion:
Quantum computers will surprise the Bitcoin community..
We don't think that QC development will happen step by step. Our expectation is that someone will find a QC technology, that allows "far beyond expectations" numbers of qubits, that will allow this QC to get all private keys immediately.
We think that such a QC will surprise the Bitcoin community and only thereafter we will upgrade to a quantum resistant Bitcoin network. We hope that the user of such a QC to get the private keys, knows exactly how Bitcoin works and allows the owners to transfer their coins to the new QC resistant addresses. It would be a win-win game: the QC user would get the "lost" coins, the Bitcoin owners could transfer their coins to QC resistant addresses, the Bitcoin ecosystem wouldn't be affected, we would have a stronger Bitcoin network. How would a QC user act: starting with the oldest "lost" coins and moving them, so that the Bitcoin community can realize that someone is moving the "lost" coins (e.g. a special posting board here on bitcointalk) but gives the owners the possibility to transfer their coins to other addresses. In the meantime we will have a very quick "quantum resistance upgrade". And it will continue like DannyHamilton described it:
We think that such a QC will surprise the Bitcoin community and only thereafter we will upgrade to a quantum resistant Bitcoin network. We hope that the user of such a QC to get the private keys, knows exactly how Bitcoin works and allows the owners to transfer their coins to the new QC resistant addresses. It would be a win-win game: the QC user would get the "lost" coins, the Bitcoin owners could transfer their coins to QC resistant addresses, the Bitcoin ecosystem wouldn't be affected, we would have a stronger Bitcoin network. How would a QC user act: starting with the oldest "lost" coins and moving them, so that the Bitcoin community can realize that someone is moving the "lost" coins (e.g. a special posting board here on bitcointalk) but gives the owners the possibility to transfer their coins to other addresses. In the meantime we will have a very quick "quantum resistance upgrade". And it will continue like DannyHamilton described it:
The coins that are still remaining in the weak transaction outputs once Quantum Technology becomes a realistic threat will be those coins that are effectively "lost". The QC owners will become the new owners of those coins, and Bitcoin will carry on as it always has.
but strongerAn instruction for a quantum computer owner if he/she/they is/are pro Bitcoin and want to make Bitcoin better and stronger.
elon musks priority is public utility.
by this i mean space transport
human transport
goods transport
..
so i dont see elon getting in on the QC game..
by this i mean space transport
human transport
goods transport
..
so i dont see elon getting in on the QC game..
VOLKSWAGEN CARRIED OUT THE WORLD'S FIRST PILOT PROJECT FOR TRAFFIC OPTIMIZATION WITH A QUANTUM COMPUTER
https://www.quantaneo.com/Volkswagen-carried-out-the-world-s-first-pilot-project-for-traffic-optimization-with-a-quantum-computer_a366.html
Ford and Microsoft pilot quantum-inspired routing to reduce congestion
https://www.intelligenttransport.com/transport-news/93711/ford-microsoft-pilot-quantum-inspired-routing-reduce-congestion/
Microsoft and Ford try using quantum-style computing to solve Seattle’s traffic problem
https://www.geekwire.com/2019/microsoft-ford-try-using-quantum-style-computing-solve-seattles-traffic-problems/
In the future: no optimized transportation without quantum computers
Re: Is Elon Musk developing a quantum computer?
Quantum chip solves ‘travelling salesman’ problem for 22 cities
https://www.electronicsweekly.com/news/research-news/quantum-chip-solves-travelling-salesman-problem-22-cities-2020-01/
'''According to the university, this is “something that would take about 1,200 years for a high-performance von Neumann CPU”, but the chip “can solve the travelling salesman problem for 22 cities instantly” until now using quantum processing it “has only been able to solve the travelling salesman problem involving a maximum of 16 cities”.
A quantum annealing computer is not a full-blown quantum computer, of the type that could crack encryption for example, which no one has yet made – or if they have, they are keeping quiet about it.'''
My opinion:
Quantum computers will surprise the Bitcoin community..
I believe even the legacy addresses that are unspent with no other outgoing transactions are quantum resistant already.
The legacy P2PK addresses, even unspent with no outgoing transactions, are not quantum resistant. Satoshi knows it, but he has more than 1 million Bitcoins on P2PK addresses.That's the reason why one should transfer the Bitcoins from old P2PK addresses or used addresses to new unused addresses to make them quantum resistant.
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