I am curious about what folks would expect from a "quantum miner"? Would it produce prodigious amounts of hashrate for minimal energy expenditure? Would the difficulty mechanism still apply? Would the entire prospect of a crypto currency still have meaning?
If the difficulty mechanism still worked, then a 100x hashrate improvement would last less than 10 days, and then would be rendered largely moot. Yes, all the non-quantum miners would be washed out of business, but would it make anything better for you or me? I expect it would drive the price of BTC way down, since at least one economic theory suggests that the price of BTC will trend towards it's cost of production.
Eventually I will understand what "quantum computing" means.
If the difficulty mechanism still worked, then a 100x hashrate improvement would last less than 10 days, and then would be rendered largely moot. Yes, all the non-quantum miners would be washed out of business, but would it make anything better for you or me? I expect it would drive the price of BTC way down, since at least one economic theory suggests that the price of BTC will trend towards it's cost of production.
Eventually I will understand what "quantum computing" means.
I don't think we can be looking at a real quantum computer, at the very least for consumers.
If a true quantum computer would be made compatible to emulate sha256d hashing, because inherently the base is completely different than binary. We wouldn't be looking at 100x hashrate.
A single quantum computer would most likely be many magnitude over the complete network hashrate. A single bit being able to contain a insane amount of data. Maybe even a full hash.
