Did Satoshi think that quantum computers will exist? - page 3.

satoshyknew

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Quote from: bitcoindusts on January 15, 2020, 10:37:52 AM

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.

And he did not move his early mined P2PK Bitcoins to quantum resistant P2PKH addresses.

Quote from: Lauren Smith on January 14, 2020, 03:48:55 PM

I guess when quantum computing becomes a threat to bitcoin that all miners will move to it too..

They will move to quantum computing to get Satoshi's early mined coins. Satoshi knew it and knows it. He could stop it through transfering these coins to P2PKH addresses today, but didn't and doesn't. He supports the better technology.
Do you remember what happened when people developed ASICs? They moved from PC mining to ASIC mining as it was better.
Bitcoin is a pure competition platform where the better devices win and Satoshi rewards the first quantum computer owners with his early mined coins.

bitcoindusts

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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. But he knew that Bitcoin will develop a quantum resistant shield even before this quantum computer catch up to the Bitcoin encryption.

Quote

Quantum computing began in the early 1980s, when physicist Paul Benioff proposed a quantum mechanical model of the Turing machine.[3] Richard Feynman and Yuri Manin later suggested that a quantum computer could perform simulations that are out of reach for regular computers.[4][5] In 1994, Peter Shor developed a polynomial-time quantum algorithm for factoring integers.[6] This was a major breakthrough in the subject: an important method of asymmetric key exchange known as RSA is based on the belief that factoring integers is computationally difficult. The existence of a polynomial-time quantum algorithm proves that one of the most widely used cryptographic protocols is vulnerable to an adversary who possesses a quantum computer.

https://en.wikipedia.org/wiki/Quantum_computing

Linkkoin

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Of course. As well as he thought about cold fusion nuclear reactors.
The point is that 10 years ago quantum had the same status as cold fusion.

Only in the last 5 years, this came true. And the technology is still very problematic in use, just as the first computers like eniac.

Still, just like in military - you protect yourself from current threats, not ones which may or may not exist in the next 20 years or so (considering that in computers, 20 years is enormous amount of time, much bigger than in military itself)

NotATether

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Quote from: Swordsoffreedom on January 10, 2020, 05:14:24 PM

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.

Well, a qubit is like a normal bit in the way it holds information. 1 qubit can have two values like 1 bit, 2 qubits can hold double that so 2500 qubits is going to hold 2^2500 units of information which is way more than what today's 64-bit computers can hold. For reference, 64-bit memory can theoretically hold 8 exabytes of data. But quantum computers like the 28-qubit one need enormous tower cases to keep the temperature at absolute zero. I read somewhere that a 2500 qubit computer would have to be as large as a soccer field so that would have to be a very large and long-term project which would take a decade or two to make.

Lauren Smith

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It is inevitable that technology will constantly become better and faster. This means security will jee to buff up to keep up with the power of the latest technology that could be used to crack security. I guess when quantum computing becomes a threat to bitcoin that all miners will move to it too and then there will not be a problem since the bitcoin network s made of many quantum computers and their added power will be very difficult to stop so it will be plenty secure. As far as private keys go the same will happen.

Buff Mage

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Quote from: firstquantumcomputer on January 10, 2020, 11:31:24 AM

Quote from: ?? on ??

Do you understand his tweet?

https://azcoinnews.com/elon-musk-dropped-a-bitcoin-bomb-on-twitter-bitcoin-is-not-my-safe-word.html

Quote from: ?? on ??

Buff Mage
✔
@elonmusk
Bitcoin is *not* my safe word

Founder, CEO, Lead Designer of SpaceX
CEO, Product Architect of Tesla, Inc.
Co-founder of Neuralink
Founder of The Boring Company
Co-founder of Zip2
Founder of X.com (now PayPal)
Co-founder of OpenAI
Chairman of SolarCity

Why not
Chairman of Mega Qubit Quantum

Is he developing a quantum computer?

Maybe Elon Musk read that post

Quote from: satoshyknew on October 15, 2019, 09:38:12 AM

Satoshi knew that one day quantum computers will exist and will be able to move the early mined coins (P2PK) and created an unofficial prize competition to accelerate the development.

Quote from: globaltreasure on June 04, 2019, 09:22:38 AM

Maybe Satoshi created the greatest prize competition and the privatekeys are somehow within the blockchain.

Quote from: threadsupport on October 01, 2019, 12:47:26 PM

Our guess is that he knew that the early mined coins will be moved one day. So he created a 'prize competition'. Otherwise he could move the coins to quantum resistant P2PKH addresses, but he did not and is not doing.

The only question is:

Quote from: wintherace on September 29, 2019, 12:26:17 PM

Who will win the race and get the early coins?

Quantum computing or solving the "Satoshi Prize Competition".

Nobody can stop that race.

goodoldblockchain

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Quote from: Swordsoffreedom on January 10, 2020, 05:14:24 PM

Quote from: newBTCdecade on January 10, 2020, 10:59:56 AM

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.

https://www.thecoinrepublic.com/is-quantum-technology-the-future-of-the-world/
"However, as per an article which was published by Martin Roetteler and various co-authors in June in 2017, such type of a machine requires approximately 2,500 qubits of processing power so that they can crack the 256-bit encryption technology which is used by Bitcoin.
Since the most powerful quantum computer which the world currently has only consisted of 72 qubit processors, one thing is clear that it will take several years for a quantum computer to reach the level of threatening encryption technology."

Spaffin

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Quite often, cryptocurrency users speak about concerns about cryptocurrency security due to the high capabilities of a quantum computer. I know that when the appropriate time comes, experts will be able to protect the cryptocurrency from a quantum computer, about which more than once there have been statements by experts. But if we talk about what Satoshi Nakamoto thought, then I believe that he should have assumed that in the future a more sophisticated technology would appear that could facilitate the work of hackers and that bitcoin would be in danger.

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Quote from: White Christmas on December 28, 2019, 02:40:07 AM

We don't know if Satoshi's real intention is to build a blockhain in which you need to solved the block in order to go into the next block so maybe Satoshi thinks about the quantum computing in order to be more easy on solving the blocks in order to go into the second block and so on. I think Satoshi was very bright and early to think about what would be happen on the near future because he maybe think already that quantum computers will be built in order to used in quantum computing and quantum physics. This probably the main reason why blockchain technology became known by the masses or the people.

Quite the contrary quantum computer is not gonna be used to solve blocks since none of miners gonna use that but instead it will be used to attack bitcoin's encryption and that's what people feared the most. Although, quantum computer in the future will be in the hand if government or big corporation, before that happen we need to find a way for bitcoin to make it immune against quantum computer. Speaking about satoshi, I think he did know that quantum computer will exist since the idea of quantum computer already proposed back then.

AjithBtc

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Without doubt Satoshi is much aware of the technology advancement, and the same has made him innovate the technology to be so strong. If he hadn't thought of the future he could've created in a simple manner and might have got crashed by the recent super computers that's been made. Now to break the technology it requires years and before the same surely the blockchain technology will get more stronger than the present.

bitbunnny

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I think Satoshi was a visionaire otherwise he wouldn't create Bitcoin but if he had idea about quantum computing it's hard to say. To me sounds more possible that Nikola Tesla had such.idea and vision, he was really ahead of his time and predicted some inovations that happened almost century after his time.

Swordsoffreedom

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Quote from: newBTCdecade on January 10, 2020, 10:59:56 AM

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.

newBTCdecade

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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."

newquantum

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Quote from: ownQUANTUM on January 02, 2020, 12:59:36 PM

This decade the early mined Bitcoins will be moved and will become active.

Quantum computing will be the smartphone of the 2020s, says Bank of America strategist https://www.marketwatch.com/story/quantum-computing-will-be-the-smartphone-of-the-2020s-says-bank-of-america-strategist-2019-12-12
'When asked what invention will be as revolutionary in the 2020s as smartphones were in the 2010s, Bank of America strategist Haim Isreal said, without hesitation, “quantum computing”'
“In the future, even robust cryptographic algorithms will be substantially weakened by quantum computing, while others will no longer be secure at all,” according to Swaroop Sham, senior product marketing manager at Okta.'

newBTCdecade

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A Quantum Computing Future Is Unlikely https://www.govtech.com/products/A-Quantum-Computing-Future-Is-Unlikely-Due-to-Random-Hardware-Errors.html
Google claims quantum supremacy – IBM says not so fast. One researcher explains why he doesn't see quantum computers outpacing classical computers any time soon ... and maybe not ever.
"As someone who has worked on quantum computing for many years, I believe that due to the inevitability of random errors in the hardware, useful quantum computers are unlikely to ever be built."

ownQUANTUM

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Quote from: threadsupport on October 02, 2019, 09:27:26 AM

Quote from: Hans17 on October 01, 2019, 12:15:30 PM

......
Fully operational? i guess on some states maybe?

More likely private groups.

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.

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Quote from: carlzec on December 23, 2019, 04:53:01 PM

It wouldn't be right to think of Bitcoin or Blockchain for the last 10 years. For a decentralized structure, it is necessary to look at 1990. You need to look at even older dates. Bitcoin is the result of the CyperPunk stream. This is my opinion. Satoshi presented us with 30 years of experience. I think Quantum Computers are also guessing.

Also wouldn't be "right" nor realistic to think Satoshi imagined that the system would remain the exact same thing for longer than a decade. Technology's advancement may not be exponential but certainly, innovation is. Perhaps there will be something before quantum computing that could crack the current tech in encryption, but silly to think encryption can't and won't move beyond that either. Bitcoin's resilience is well known and it's flexible enough to always stay ahead of the curve. But we've to ensure its decentralisation remains intact for that ability to remain unchanged ten, twenty, fifty years from now.

Tipstar

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He surely knew there were going to be pretty fast machine to predict things, that's why he went on with a high level of encryption. We still don't know if bitcoin security would be vulnerable to claimed quantum computers built by some institution and we also hope they'll never get on the hands of wrong people or used against bitcoin.

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Quote from: simpleIPaddress on August 05, 2019, 12:13:56 PM

Quote from: satoquotes on August 05, 2019, 10:26:13 AM

Satoshi has mined the most coins.
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-198

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

1. Yes, with quantum computers they would become active. Did Satoshi think that quantum computers will exist?

Quantum computers are a long ways away from becoming general purpose computers. As of right now, quantum computers are highly limited to only being able to perform specific kinds of calculations and tasks. There is no threat stemming from quantum computers at the moment and there won't be for quite some time now.
I would worry if quantum computers became commercially available like smartphones, then there would probably be room for panic to ensue. I believe that people have been watching way too many science fiction movies. Grin

White Christmas

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We don't know if Satoshi's real intention is to build a blockhain in which you need to solved the block in order to go into the next block so maybe Satoshi thinks about the quantum computing in order to be more easy on solving the blocks in order to go into the second block and so on. I think Satoshi was very bright and early to think about what would be happen on the near future because he maybe think already that quantum computers will be built in order to used in quantum computing and quantum physics. This probably the main reason why blockchain technology became known by the masses or the people.

Topic: Did Satoshi think that quantum computers will exist? - page 3. (Read 1852 times)