As others have mentioned this topic has been discussed and debated in this community many times already. To the OP, I would suggest to read this thread: I don't believe Quantum Computing will ever threaten Bitcoin.
Lots of "qualified" experts there sharing their opinions and thoughts about the subject matter, I will also urge others to really read that whole thread to fully understand everything, just saying.
Topic: In 10 years from now a quantum computer - page 2. (Read 754 times)
Stewart Allen, COO of quantum computing startup IonQ:
“I think in two or three years we’ll have businesses that are using quantum to solve real-world problems,” explained Allen; in the coming years, we can expect to see a trend of early adopters who want to have a “first-mover advantage”.
https://techhq.com/2019/07/accessible-quantum-computing-is-just-around-the-corner/
'Shalecoins' will be moved and are their (the first group) reward. That is the big Bitcoin challenge.
Then we will have a quantum secure network.
“I think in two or three years we’ll have businesses that are using quantum to solve real-world problems,” explained Allen; in the coming years, we can expect to see a trend of early adopters who want to have a “first-mover advantage”.
https://techhq.com/2019/07/accessible-quantum-computing-is-just-around-the-corner/
'Shalecoins' will be moved and are their (the first group) reward. That is the big Bitcoin challenge.
Then we will have a quantum secure network.
This will be the new beginning.
In 10 years from now a quantum computer will have sufficient computation power to give a 51% attack on the bitcoin network.
Please discuss.
Please discuss.
Are you from the future? Where do you got this estimate from , form fox news or some fake news page?
Because this is just fake. Quantum computing is far from being a reality even in 20 year time.
Yes,some separate advancements has been made but full computing device is something completely different.
Professor O’Brien: "In less than ten years quantum computers will begin to outperform everyday computers"
“The very fast computing power given by quantum computers has the potential to disrupt traditional businesses and challenge our cyber-security. Businesses need to be ready for a quantum future because it’s coming.”
Quantum computing is coming – are you prepared for it?
http://www.bris.ac.uk/physics/news/2016/quantum-computing.html
Quantum computers are expected to exceed the capabilities of classical computers in the next five to 10 years and promise vast increases in processing power over silicon chips.
https://thenextweb.com/future-of-finance/2019/07/15/quantum-key-distribution-to-secure-bank-account/
Some of Britain’s most distinguished computer scientists have moved to Silicon Valley to produce a quantum computer that can be sold commercially within five years.
https://www.thetimes.co.uk/article/quantum-computing-lures-scientists-to-us-g7kkkkvjw
Accessible quantum computing is just around the corner
https://techhq.com/2019/07/accessible-quantum-computing-is-just-around-the-corner/
Maybe earlier:
They will develop new quantum technologies:
New quantum computing building block developed by Australian researchers
The quantum building block, which is capable of performing an operation of 0.8 nanoseconds, is around 200 times faster than existing spin-based two-qubit gates in silicon.
https://www.abc.net.au/news/science/2019-07-19/quantum-computing-silicon-two-qubit-gate/11325424
Forget Qubits — Scientists Just Built a Quantum Gate With Qudits
And they could help usher in the era of the quantum computer.
https://futurism.com/forget-qubits-quantum-scientists-building-qudits
The research team discovered that four qudits had the same power as 20 qubits. What’s more, the qudits were more stable than the qubits.
https://canadianhomesteading.ca/science/quantum-computing-breakthrough-scientists-created-quantum-gates-using-qudits/11458
New quantum computing building block developed by Australian researchers
The quantum building block, which is capable of performing an operation of 0.8 nanoseconds, is around 200 times faster than existing spin-based two-qubit gates in silicon.
https://www.abc.net.au/news/science/2019-07-19/quantum-computing-silicon-two-qubit-gate/11325424
Forget Qubits — Scientists Just Built a Quantum Gate With Qudits
And they could help usher in the era of the quantum computer.
https://futurism.com/forget-qubits-quantum-scientists-building-qudits
The research team discovered that four qudits had the same power as 20 qubits. What’s more, the qudits were more stable than the qubits.
https://canadianhomesteading.ca/science/quantum-computing-breakthrough-scientists-created-quantum-gates-using-qudits/11458
In 10 years from now a quantum computer will have sufficient computation power to give a 51% attack on the bitcoin network.
Please discuss.
Please discuss.
Are you from the future? Where do you got this estimate from , form fox news or some fake news page?
Because this is just fake. Quantum computing is far from being a reality even in 20 year time.
Yes,some separate advancements has been made but full computing device is something completely different.
You can't mine with a quantum computer.
You can only generate the privatekeys. That is what some groups will try: bringing back the lost coins or 'shalecoins' to the blockchain as active coins. https://bitcointalksearch.org/topic/bitcoin-as-shalecoin-5134441
You can only generate the privatekeys. That is what some groups will try: bringing back the lost coins or 'shalecoins' to the blockchain as active coins. https://bitcointalksearch.org/topic/bitcoin-as-shalecoin-5134441
Quantum computers are computers which exploit quantum mechanics to do certain computations far more quickly than traditional computers. https://en.bitcoin.it/wiki/Quantum_computing_and_Bitcoin
generating the privatekey: yes
hashing the next block: no
Deriving the private key of old addresses that got reused and still have balance: eventually.
Deriving the private key of old address with no outgoing transactions: no.
The majority of "lost" coins fall in the latter category. Quantum computing can't bring back old coins just like it can't bring back your grandmother.
In 10 years from now a quantum computer will have sufficient computation power to give a 51% attack on the bitcoin network.
Please discuss.
Please discuss.
In 10 years Bitcoin+blockchain:
1.Won't exist.
2.Will improve to a level,in which quantum computers won't be a threat,they could even help.
Let's hope that the second option will happen.
This topic has been discussed 100 times before,so it's pointless to ask the same questions again and again.
No, albeit Bitcoin can be improved to be even more resistant, it is of my knowledge that Bitcoin right now is safe, IF people stick to using Bitcoin addresses ONCE, and only ONCE.
Once the proposed soft fork or whatever gets passed, then even this won't be as critical, but as it has always been since the beginning, if you want to be safe, use your Bitcoin address only once, then move on to the next one.
This is unrelated to the 51% attack, that doesn't even need to break the encryption, or use quantum computing.
In 10 years from now a quantum computer will have sufficient computation power to give a 51% attack on the bitcoin network.
Please discuss.
Please discuss.
Lol!! Quantum computing is still under development and we don't yet have a realistic timeline! What we all are doing is speculation. Intel has just created a superconducting chip for such computing and it is still being tested. If quantum computer becomes a reality, will probably cost few millions and the usage will be restricted for governmental and research related use.
Hackers won't have access to it just to launch 51% attack of crypto networks! Chill and take out such ideas from your mind!
be still so soon to see this upgrade.It can possible affect crypto yet we know on how quantum computing does but pretty sure there would be such changes later on.
Its impossible for cryptospace not to be quantum immune one.
You can't mine with a quantum computer.
You can only generate the privatekeys. That is what some groups will try: bringing back the lost coins or 'shalecoins' to the blockchain as active coins. https://bitcointalksearch.org/topic/bitcoin-as-shalecoin-5134441
You can only generate the privatekeys. That is what some groups will try: bringing back the lost coins or 'shalecoins' to the blockchain as active coins. https://bitcointalksearch.org/topic/bitcoin-as-shalecoin-5134441
Quantum computers are computers which exploit quantum mechanics to do certain computations far more quickly than traditional computers. https://en.bitcoin.it/wiki/Quantum_computing_and_Bitcoin
generating the privatekey: yes
hashing the next block: no
They will try it, because it is possible. Their reward will be huge.
No matter how slow they are at least they are having some progress
Then, when the first "shalecoins" are being moved, the cryptocommunity will discuss different topics: quantum secure addresses., if they succeed with this,
They will., correct me If I'm wrong they will have an opportunity to get the people's cryptocurrencies. right?
No, the first group will try to get the 'shalecoins', they have no owners. How do they know this? Nobody can, but if you move your coins to another address, they will know that there is an owner.They could move coins from addresses with owner, but they will not. It would disturb the Bitcoin ecosystem and also the value of their coins.
Postquantum, nobody will be able to prove that he/she/they was/were the owner/s in the old system, because everyone will be able to reproduce the privatekeys.
We will have a quantum secure network.
This will be the new beginning.
Why it will be so? How do you know?
Why would they want to attack the Bitcoin network with a quantum computer when they can mine blocks using it, but again I guess mining with a quantum computer would still not be enough, but with so much power on your CPU device I guess you can sure do a ton of gaming with it, Well in my opinion I will not gonna use it in gaining bitcoin and destroy the bitcoin ecosystem, That much worst depreciating the price of bitcoin now that it is in the bull run state, But for cryptocurrency sake I guess Quantum Powered Miner will be created in mining blocks for every cryptocurrency and Bitcoin can be possible.
You can't mine with a quantum computer.
You can only generate the privatekeys. That is what some groups will try: bringing back the lost coins or 'shalecoins' to the blockchain as active coins. https://bitcointalksearch.org/topic/bitcoin-as-shalecoin-5134441
Why would they want to attack the Bitcoin network with a quantum computer when they can mine blocks using it, but again I guess mining with a quantum computer would still not be enough, but with so much power on your CPU device I guess you can sure do a ton of gaming with it, Well in my opinion I will not gonna use it in gaining bitcoin and destroy the bitcoin ecosystem, That much worst depreciating the price of bitcoin now that it is in the bull run state, But for cryptocurrency sake I guess Quantum Powered Miner will be created in mining blocks for every cryptocurrency and Bitcoin can be possible.
In 10 years from now a quantum computer..
Maybe earlier:
They will develop new quantum technologies:
New quantum computing building block developed by Australian researchers
The quantum building block, which is capable of performing an operation of 0.8 nanoseconds, is around 200 times faster than existing spin-based two-qubit gates in silicon.
https://www.abc.net.au/news/science/2019-07-19/quantum-computing-silicon-two-qubit-gate/11325424
Forget Qubits — Scientists Just Built a Quantum Gate With Qudits
And they could help usher in the era of the quantum computer.
https://futurism.com/forget-qubits-quantum-scientists-building-qudits
The research team discovered that four qudits had the same power as 20 qubits. What’s more, the qudits were more stable than the qubits.
https://canadianhomesteading.ca/science/quantum-computing-breakthrough-scientists-created-quantum-gates-using-qudits/11458
New quantum computing building block developed by Australian researchers
The quantum building block, which is capable of performing an operation of 0.8 nanoseconds, is around 200 times faster than existing spin-based two-qubit gates in silicon.
https://www.abc.net.au/news/science/2019-07-19/quantum-computing-silicon-two-qubit-gate/11325424
Forget Qubits — Scientists Just Built a Quantum Gate With Qudits
And they could help usher in the era of the quantum computer.
https://futurism.com/forget-qubits-quantum-scientists-building-qudits
The research team discovered that four qudits had the same power as 20 qubits. What’s more, the qudits were more stable than the qubits.
https://canadianhomesteading.ca/science/quantum-computing-breakthrough-scientists-created-quantum-gates-using-qudits/11458
But in the next 10 years, bitcoin networks will increase network security. So quantum computers will not be able to attack their networks. You forget that when computer technology develops, on the other hand there are many technologies that are also developing, so you cannot say that the quantum computer itself developed at that time.
In 10 years from now a quantum computer will have sufficient computation power to give a 51% attack on the bitcoin network.
Please discuss.
Check out the past discussions as there were many topics regarding quantum computing in the past and i have shed my opinions in the past, the amount of money you have to spent in order to make any meaning attack is the first hindrance and no one in the right sense will spend billions to destroy something even for experiment case and the realistic possibility is none as companies have spent more money to built a quantum computer for decades now and none of them are really successful till now. Please discuss.
Why don't we think that after 10 years the Bitcoin technology will ensure its own safety, I think that's feasible when blockchain technology can be upgraded and improved, providing superior certainty.
In 10 years from now a quantum computer will have sufficient computation power to give a 51% attack on the bitcoin network.
Please discuss.
Please discuss.
Unlikely, given that quantum computing are unlikely to offer any advantage in attacking SHA256:
There may be breakthroughs in generic quantum collision search algorithms, or someone may find specialized cryptanalysis of SHA-256 that works only on quantum computers (e.g., see below about exotic constructions). But in the current state of the public literature, classical collision searches already appear cheaper than any known quantum collision searches would be even in the unbelievable scenario that qubit operations became as cheap as bit operations.
Granted, running the hashing algorithm and searching for collisions are two very different things, but it goes to show that quantum computing is not some kind of magic all-seeing oracle for which the laws of mathematics don't apply.
Additionally modern Bitcoin mining is done via ASICs which offer even more of an advantage over regular CPUs that are usually the benchmark for comparing classical to quantum computing.
Also keep in mind that even if quantum computers where more efficient than ASICs at mining Bitcoins they would more likely be used to simply mine Bitcoin rather than attacking the network.
In 10 years from now a quantum computer will have sufficient computation power to give a 51% attack on the bitcoin network.
Please discuss.
Please discuss.
In 10 years Bitcoin+blockchain:
1.Won't exist.
2.Will improve to a level,in which quantum computers won't be a threat,they could even help.
Let's hope that the second option will happen.
This topic has been discussed 100 times before,so it's pointless to ask the same questions again and again.
1. Bitcoin and Blockchain are immortal, so they both will exist buddy even if no one uses them, which they 100% will use at least blockchain and I am pretty sure 10 years is to soon to ditch bitcoin, but it will be ditched at some point when people realize a fair distributed supply is how you make a money supply that is not a ponzi scheme, all other coins will become niche.
2. Quantum computers or a pool of lesser computers will always be a threat with the current system, Hopefully they change the consensus algorithm so instead of 51% of the hash power, it is 51% of the users. (spoiler: it is not going to happen with bitcoin unless satoshi comes back, pretty sure the person is dead)
Is it a general agreement of a consensus of people if 10 people out of 1000 agree on something because they have more money or hashing power?
con·sen·sus
a general agreement.
gen·er·al
affecting or concerning all people.
Quantum computing is under development, and the same won't disturb the bitcoin network in ten years of time. During its early days into existence bitcoin network was possible to be run on a person computer, as the days passed the computational power required keeps increasing. After ten years time the development of the network will be high, and to the same the quantum computing will not make any big impact on the network.
There will always be a defence in the way. Blockchain technology is developing day by day so even quantum computer won't be able to attack Bitcoin.
Can you thought for at least a moment, if a quantum computer attack BTC, a same kind of quantum computer can be at BTC side, protecting?
There are 2 sides always, people "forget" to mention that the code of BTC will evolve and there's a huge community interested in protecting BTC
There are 2 sides always, people "forget" to mention that the code of BTC will evolve and there's a huge community interested in protecting BTC
We already have a number of projects regarding quantum safety measures like Vault Chain.
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