Topic: Google Says That They Have Just Reached Quantum Supremacy - BITCOIN IN DANGER? (Read 338 times)
October 12, 2019, 10:52:03 AM
Quantum computer tech is still on a early road so its there is no need to talk about Bitcoin being in danger as the tech is not completed. Lets have this conversation again in 15 years and then we can test if Quantum can hurt Bitcoin or can help Bitcoin as both scenarios can be applied. Just because Google says something doesn't mean it has to be true ...
October 12, 2019, 08:07:28 AM
Recently I have spoken with an expert in IT who has some extensive knowledge in quantum technology and he told me that quantum computers are years or if not decades away from being actually implemented. Also I'm sure that the bitcoin foundation would propose an anti-quantum consensus that just needs to be approved by the miners' majority. So in conclusion I don't think there is any real threat for Bitcoin regarding the quantum technology.
October 12, 2019, 07:23:50 AM
The quantum computers is not just a threat to cryptocurrency but rather to whole financial systems in the world who are online in the internet. If google will use quantum computers and if somebody will use these system to hack into our wallets and other financial documents we have then we are doomed to loss. But this is just a conspiracy theory, that if the CIA or somebody is in the bakcground that has bad intentions then we are all doomed.
But let us stay positive, I dont think google will use those quantum computers to destroy cryptocurrency or to hack into the financial systems but to cater the overwhelming users who are using google nowadays. I believe it is just to improve their system.
But let us stay positive, I dont think google will use those quantum computers to destroy cryptocurrency or to hack into the financial systems but to cater the overwhelming users who are using google nowadays. I believe it is just to improve their system.
October 12, 2019, 02:59:19 AM
The number of calculations that earlier supercomputers did, google's supercomputers are capable of performing it thousands of times faster.
It definitely proposes some risk to the bitcoin and blockchain in general because the basic building blocks of this technology is cryptography. Majority of cryptographic algorithm we use would fail against such computers.
So not only is bitcoin in danger, encryption is as well!
Some researchers have started working on supercomputer-resistant encryption algorithms. One of these emerging algorithms is related to encrypting using Lattices, which has gained greater traction.
It definitely proposes some risk to the bitcoin and blockchain in general because the basic building blocks of this technology is cryptography. Majority of cryptographic algorithm we use would fail against such computers.
So not only is bitcoin in danger, encryption is as well!
Some researchers have started working on supercomputer-resistant encryption algorithms. One of these emerging algorithms is related to encrypting using Lattices, which has gained greater traction.
October 12, 2019, 01:30:14 AM
I'm not that scared of this "quantum supremacy" of Google. Based on what I already read, it needs greater amounts of qubits to be able to decrypt current encryption of the blockchain. Google's quantum computer is only ~50 qubits. In addition, if scammers got hold of this piece of technology, I'm quite sure that researchers aiming to fortify current security encryption will also use this quantum computers to further future proof current encryption and make it quantum resistant.
October 12, 2019, 12:55:14 AM
Quote
Google’s quantum computer is allegedly more powerful than the world’s top supercomputers and the performance proves just that. The quantum computer completed a calculation in 3 minutes that would have taken IBM's Summit, the world's most powerful commercial computer, 10,000 years to complete.
https://interestingengineering.com/google-says-that-they-have-just-reached-quantum-supremacy
Quantum computers are a threat for many blockchains, including BITCOIN.
Are you guys scared? Is this the gov's hidden ace against bitcoin since they can't force people to stop using it?
October 02, 2019, 11:34:56 AM
I do not think that bitcoin is in danger, it's too early to talk about it
October 02, 2019, 06:48:22 AM
Efforts in the private sphere are similarly increasing which found the number of investments in private quantum computing startups increasing over 200 percent in the past six years.A decade ago people said it would take 50 years to get where we are now with quantum computing. Five years ago, they said it would take 25 years to get where we are now. So quantum computing has this nasty habit of exceeding people’s expectations.
October 02, 2019, 06:42:40 AM
Quote
Google’s quantum computer is allegedly more powerful than the world’s top supercomputers and the performance proves just that. The quantum computer completed a calculation in 3 minutes that would have taken IBM's Summit, the world's most powerful commercial computer, 10,000 years to complete.
https://interestingengineering.com/google-says-that-they-have-just-reached-quantum-supremacy
Quantum computers are a threat for many blockchains, including BITCOIN.
Are you guys scared? Is this the gov's hidden ace against bitcoin since they can't force people to stop using it?
October 02, 2019, 03:11:11 AM
Now here is the trick: instead of renting a GPUs farm on nicehash or similar, why not rent a QC?
When will someone write a QCMiner?
When will someone write a QCMiner?
Maybe that will be happening soon because, with QC, the computer can break the mathematical problem with fast than the current computer. It helps them work to solve the calculation. I am sure if people are rent a QC, there will be a QC Miner release from the developer. Or they will upgrade their software to be used in QC.
The technology will grow, maybe now people don't use QC. But in the future, if QC has available in many countries, I am sure that the current computer will not too popular as now. People will move into better technology, and old technology will be history.
October 02, 2019, 02:58:02 AM
In Australia the quantum computing development is funded by a bank.
This means they've understood the future and acting at the present. When we talk about the quantum computer, there is no big thing to be talked. Quantum computer can do mathematical problems in three minutes of time and the same takes 10000 years with other powerful computers of the world. The only relation with bitcoin is through the private key, with this power it is possible to crack the private keys. Such a advancement can happen in next ten to fifteen years.Another thing to break the code of bitcoin it needs 2000 qbits and what Google's quantum computer have is just 53qbits. This way there is nothing to fear on the existence of the Quantum Computer. Going through the article this is what I understood about Quantum computer which is predicted to make a crash in the market.
October 02, 2019, 02:45:35 AM
In Australia the quantum computing development is funded by a bank.
September 30, 2019, 09:07:00 AM
It is FUD
I have been reading interview with mathematician from my country
He told that any quantum computer already done or developed in near future will be not able to break bitcoin blockchain. Maybe next 50 years that kind of computer with that kind of ability will be created but he is doubt
Bitcoin blockchain is super strong and secure .I don't about different that bitcoin chain blockchains
Security is the biggest Bitcoin blockchain advantage
I have been reading interview with mathematician from my country
He told that any quantum computer already done or developed in near future will be not able to break bitcoin blockchain. Maybe next 50 years that kind of computer with that kind of ability will be created but he is doubt
Bitcoin blockchain is super strong and secure .I don't about different that bitcoin chain blockchains
Security is the biggest Bitcoin blockchain advantage
September 30, 2019, 05:11:15 AM
Well, if Google has the technology then we should not assume that the government will be using it against Bitcoin. It is possible that Google can be using it against the government instead and in that case then Google can be a security threat to the country possessing such a technology that can easily fry security measures anytime. I have to admit that I don't fully understand the quantum computing technology, but I am getting interested into this. One thing for sure, the government thru a well-funded agency is also on the race to develop quantum super-computers and I think this is one area where other countries can also be involved with just like the space race. Now, having said that, it remains to be seen if what Google has can really put Bitcoin on fire...let's see what can be.
September 30, 2019, 04:01:52 AM
Quantum computers are one of the most popular topics of recent times. What they can do yet, the limits are still unclear. But for some reason, when it comes to blockchain, everyone is interested in the negative side. Well, what can these quantum computers add to mining BTC? Couldn't it be expected to move BTC mining to another dimension? Doesn't the approval in the next few seconds speed up transactions?
When something new occurs, the process of rejection always works. For Bitcoin, this process is still running. At the same time, people's fear of quantum computers is the result of a similar process.
When something new occurs, the process of rejection always works. For Bitcoin, this process is still running. At the same time, people's fear of quantum computers is the result of a similar process.
September 30, 2019, 03:51:00 AM
I think people should be more worried about the other non-Bitcoin security breaches that might occur, if QC could break the encryption, because most secure websites use the same Algorithm and that would pose a even bigger threat to the global financial economy. 
Also remember that we dealing with a piece of code here and developers already have solutions in place for scenarios like this, so you would simply have to shift those coins to a more secure address, if QC actually posed a threat to people's coins.
Also remember that we dealing with a piece of code here and developers already have solutions in place for scenarios like this, so you would simply have to shift those coins to a more secure address, if QC actually posed a threat to people's coins.
September 30, 2019, 03:06:45 AM
I think Bitcoin will rule crypto currencies for at least about 5 years and at most about 10-15 years, and quantum computers entering actual arena are certainly more far away than that. So we shouldn't worry much. 
September 30, 2019, 02:30:37 AM
I agree with previous replies that QC should be a worry first to banks and security systems in general.
There will be new research coming up in security to mitigate a QC attack. Bitcoin will not lead the way in this, it will follow what will be implemented elsewhere.
Meanwhile, quantum computers are neither big nor expensive, they are a couple of racks for cooling and the CPU itself is surprisingly small. People don't buy quantum computers now because of the space and maintenance they need: you can remote login to one and use it in the form of software-as-a service.
Now here is the trick: instead of renting a GPUs farm on nicehash or similar, why not rent a QC?
When will someone write a QCMiner?
There will be new research coming up in security to mitigate a QC attack. Bitcoin will not lead the way in this, it will follow what will be implemented elsewhere.
Meanwhile, quantum computers are neither big nor expensive, they are a couple of racks for cooling and the CPU itself is surprisingly small. People don't buy quantum computers now because of the space and maintenance they need: you can remote login to one and use it in the form of software-as-a service.
Now here is the trick: instead of renting a GPUs farm on nicehash or similar, why not rent a QC?
When will someone write a QCMiner?
September 30, 2019, 12:47:42 AM
Why do we need to afraid with Google? They can do whatever they want because they have a resource that will help them to invented something new, and it doesn't mean to destroy bitcoin or cryptocurrency.
People invented on something that doesn't exist and their purpose to help humankind. And if that is what Google did with their project called Quantum Computer, so be it. We need to know the details, and maybe we need to wait for a while until Google can explain more about their project.
I think their project and the cryptocurrency will walk in different ways, so there is nothing to worry or afraid. But if Google wants to compete with the cryptocurrency, I don't think that will be easy because they need to create some technology which will better than blockchain technology. But we know that everything is possible and everything can happen in the future. So we shouldn't think too serious about that and see what will happen later.
People invented on something that doesn't exist and their purpose to help humankind. And if that is what Google did with their project called Quantum Computer, so be it. We need to know the details, and maybe we need to wait for a while until Google can explain more about their project.
I think their project and the cryptocurrency will walk in different ways, so there is nothing to worry or afraid. But if Google wants to compete with the cryptocurrency, I don't think that will be easy because they need to create some technology which will better than blockchain technology. But we know that everything is possible and everything can happen in the future. So we shouldn't think too serious about that and see what will happen later.
September 30, 2019, 12:18:07 AM
Quantum computers are a threat for many blockchains, including BITCOIN.
it is not "many" it is all of them. 99% of the altcoins are also using the same asymmetric cryptography as bitcoin does usually on the same curve or a different one. there are some using RSA which is even weaker. i heard about one using a quantum resistance algorithm but i never saw the coin itself (hence the 1% i left out).
one thing about breaking elliptic curves is to find a way to solve the problem faster not to increase the speed of calculation. quantum computers at best are increasing the calculation speed not the mathematical solution which is still extremely time consuming.
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