Topic: Longterm physical crypto collectors DOOMED because of Quantum-Computing? - page 2. (Read 662 times)

Recently I watched a video by Sabine Hossenfelder, where she showed a graph of the current speed of development on Quantum computing and a projection until when this techonology is estimated to probably crack current wide-spread encryption technology.
(I did a quick search but did not find that particular video, you can check a new one on the topic here, though: https://www.youtube.com/watch?v=CBLVtCYHVO8)
The projected date was between 2030 and 2040. The exact dates do not matter much imho, the important fact is, that current state-of-the-art-cryptography WILL become obsolete within the next 10 to 25 years.


I don't want to go into detail, why this will probably not widely impact our current system(s) relying on these encryption-techs too much. Short version: All bigger companies, governments and institutions are aware that these techs need to be updated within rougly the next decade and current development already has quantum-proof solutions. These will (hopefully / most likely) be implemented in all critical infrastructure (banking, communications, accounting, any password-based stuff, severs, crypto, etcetc.) and ideally most end-users won't even notice much of a transition.

HOWEVER: All funded crypto collectibles rely on this old, NON-QUANTUM-PROOF encryption (sha256 and whatnot to hash publickeys and addresses from the underlying private key), and therefore are doomed to securely hold funds longterm, as long as the public keys were exposed at any point in time. The main reason: A physical collectible cannot be upgraded to quantum-proof as it would be possible with any software.

Yeah, it may still seem like a long shot, and there is a chance it will take (much) longer than currently be projected - but I don't think just hoping is the right approach as physical crypto collectors.

tldr: Sooner or later we will have to peel all our funded collectibles to avoid getting quatum-swept by some powerful organasation or government.


I didn't do a deep-dive into the topic (yet), these are just random thoughts I'd like to discuss here, happy to hear any insights and ideas on the topic from anyone that has something to say about it.