Pages:
Author

Topic: Quantum Computer vs Bitcoin (Read 2470 times)

copper member
Activity: 630
Merit: 2614
If you don’t do PGP, you don’t do crypto!
March 17, 2018, 12:46:01 PM
It is possible. Let's say I have access to all computers and servers in the world and can use at least 10 % of their power to generate all bitcoin wallets and I have a big enough storage drive to get the results. It would take a few years, but I will have all those keypairs. Invent a better algorithm for generation, speed it up and maybe it will take even less time. Index the database and there you have it. The other reason as to why you will never know about it, is because nobody who would do such a thing would tell anyone about it. Why would they? Drop the bitcoin price? Set a world panic? Destroy bitcoin? Why would you, if you have access to all bitcoins? Why would you even take more than you need? Why not just empty the long lost wallets, and nobody would even notice. There are far better purposes for quantum computers than to generate bitcoin keypairs, let's do some calculations to get us further into space, move to Mars, improve statistics, make science breakthroughs, etc.

Translation:  Ill-informed idiot who whines that merit should be awarded by bots (!) is fishing for merit by posting innumerate nonsense in Development & Technical Discussion.

If you don’t know, then say you don’t know.  I admit, the set of things I do not know is infinite.  But don’t make stuff up and post it in an authoritative-sounding manner.  Nobody is buying what you’re selling.





I even dont know what these quantum computers are because I am a newbie here in this ecosystem. Help me out of this threat Sad

Try reading the thread.  Many intelligent answers were given back in December.

This is officially the spam megathread of Development & Technology Discussion.





Let's say I have access to all computers and servers in the world and can use at least 10 % of their power to generate all bitcoin wallets and I have a big enough storage drive to get the results. It would take a few years,

You might want to double check your maths...

There are 2160 different addresses.
2160 = 1461501637330902918203684832716283019655932542976

[...correct maths...]

The entire universe since the Big Bang has only existed for about 13.8 BILLION years.  That means you'd have to continue this process from the beginning of the Big Bang until today, and then repeat that 453,508 more times!

THAT SOUNDS LIKE A LOT MORE THAN "a few years" TO ME! (and with a lot more computing power than you were suggesting).

nice one  Smiley
we don`t have to worry ... but there is a way if someday... someone.... create some ASIC kind of computer to generate 1PentaBillion addresses/second ?? Sad((

“1PentaBillion” = 5 billion addresses.  What did you think it meant?

Although your “consumer-grade” laptop won’t be able to, there are already many computers which can generate that many addresses in a second.  Easily.  But it makes no difference.  Compared to 2160, the difference between 1 million and 5 billion is not so impressive.

ASICs are not magical.  They are simply Application-Specific Integrated Circuits, highly optimized to run one specific program which is literally cast in silicon.  They cannot defy the laws of physics, much less the laws of mathematics.  There is still a limit on how fast they can perform computations.  Also, importantly:  They need energy.

2128 is an infinitesimal fraction of 2160; and a 2128 security level is already what I call “boil the oceans security”, because the energy required for 2128 computations would boil the oceans (and more...).  It is humanly impossible to perform such vast amounts of computation, and it will always be humanly impossible.

You just do not get how big these numbers are.
newbie
Activity: 238
Merit: 0
March 17, 2018, 12:32:42 PM
it is possible but still there is no such technology available.. so relax.. also developers are working on antiquatum hacking blockachain hope it will be ready soon
newbie
Activity: 159
Merit: 0
March 17, 2018, 11:24:00 AM
Let's say I have access to all computers and servers in the world and can use at least 10 % of their power to generate all bitcoin wallets and I have a big enough storage drive to get the results. It would take a few years,

You might want to double check your maths...

There are 2160 different addresses.
2160 = 1461501637330902918203684832716283019655932542976

There are approximately 7.4 BILLION people on earth.

If we give EVERY ONE OF THEM (infants, elderly, etc) 1 MILLION computers, AND each of those computers are able to generate 1 BILLION addresses per second, AND we used 100% of that power to do nothing else other than generate all bitcoin wallets continuously without interruption, then we'd generate approximately:
7,400,000,000 people X 1,000,000 computers X 1,000,000,000 addresses per sec = 7400000000000000000000000 addresses per second.

At that rate, it would take:
1461501637330902918203684832716283019655932542976 addresses / 7400000000000000000000000 addresses per second =
197500221260932826784282 seconds to generate all bitcoin wallets.

There are approximately 31557600 seconds in a year.
197500221260932826784282 seconds / 31557600 seconds per year = 6,258,404,354,606,587 years

That's more than 6.2 QUADRILLION years!

The entire universe since the Big Bang has only existed for about 13.8 BILLION years.  That means you'd have to continue this process from the beginning of the Big Bang until today, and then repeat that 453,508 more times!

THAT SOUNDS LIKE A LOT MORE THAN "a few years" TO ME! (and with a lot more computing power than you were suggesting).

nice one  Smiley
we don`t have to worry ... but there is a way if someday... someone.... create some ASIC kind of computer to generate 1PentaBillion addresses/second ?? Sad((
newbie
Activity: 89
Merit: 0
March 16, 2018, 10:32:35 AM
I will help the computeres to do that if they cant do it by yourselves because i want to end this so called Btc ecosystem to save the world Smiley
copper member
Activity: 44
Merit: 0
March 15, 2018, 11:44:31 PM
I heard that Quantum Computer can destroy bitcoin.
Is it possible?

According to the latest research by security experts, the power of quantum computers will be able to break the security of bitcoin within 10 years, and security is one of the foundations of bitcoin as a virtual token.

An important feature of bitcoin is its security. Bitcoin has two important security features to prevent them from being stolen or copied. Both features are based on unbreakable cryptographic protocols.

But quantum computers can easily solve these problems, according to a team of Dave garwal. And the world's big tech giants are already working on their first quantum computers.

Bitcoin will not be destroyed if quantum computers become powerful enough to solve ECDSA keys due to masked addresses (which Gover's algorithm only provides a quadratic speedup to reverse addresses to the corresponding public key). However, it will be severely impacted and public perception of bitcoin will likely tank causing a market crash.
newbie
Activity: 50
Merit: 0
March 10, 2018, 04:37:46 PM
I think social issues are way more of a threat to the future of cryptocurrency. I'd love to see the point where quantum computers are launching attacks because this is probably still years away
member
Activity: 308
Merit: 12
S O A R https://www.soar.earth/
March 10, 2018, 05:01:34 AM
I heard that Quantum Computer can destroy bitcoin.
Is it possible?

According to the latest research by security experts, the power of quantum computers will be able to break the security of bitcoin within 10 years, and security is one of the foundations of bitcoin as a virtual token.

An important feature of bitcoin is its security. Bitcoin has two important security features to prevent them from being stolen or copied. Both features are based on unbreakable cryptographic protocols.

But quantum computers can easily solve these problems, according to a team of Dave garwal. And the world's big tech giants are already working on their first quantum computers.
10 years is a long time. During this time, bitcoin will lose its leadership and will be replaced by a more functional cryptocurrency that will support quantum computers. I have heard that some projects are already beginning to study this area.
newbie
Activity: 168
Merit: 0
March 09, 2018, 01:32:53 AM
I heard that Quantum Computer can destroy bitcoin.
Is it possible?

According to the latest research by security experts, the power of quantum computers will be able to break the security of bitcoin within 10 years, and security is one of the foundations of bitcoin as a virtual token.

An important feature of bitcoin is its security. Bitcoin has two important security features to prevent them from being stolen or copied. Both features are based on unbreakable cryptographic protocols.

But quantum computers can easily solve these problems, according to a team of Dave garwal. And the world's big tech giants are already working on their first quantum computers.
newbie
Activity: 111
Merit: 0
March 07, 2018, 12:21:52 PM
A quantum computer cannot destroy bitcoins, of course it'll have superior processing ability and greater storage capacity but it'll not be able to destroy bitcoins.
legendary
Activity: 3472
Merit: 4794
March 05, 2018, 01:33:27 PM
Let's say I have access to all computers and servers in the world and can use at least 10 % of their power to generate all bitcoin wallets and I have a big enough storage drive to get the results. It would take a few years,

You might want to double check your maths...

There are 2160 different addresses.
2160 = 1461501637330902918203684832716283019655932542976

There are approximately 7.4 BILLION people on earth.

If we give EVERY ONE OF THEM (infants, elderly, etc) 1 MILLION computers, AND each of those computers are able to generate 1 BILLION addresses per second, AND we used 100% of that power to do nothing else other than generate all bitcoin wallets continuously without interruption, then we'd generate approximately:
7,400,000,000 people X 1,000,000 computers X 1,000,000,000 addresses per sec = 7400000000000000000000000 addresses per second.

At that rate, it would take:
1461501637330902918203684832716283019655932542976 addresses / 7400000000000000000000000 addresses per second =
197500221260932826784282 seconds to generate all bitcoin wallets.

There are approximately 31557600 seconds in a year.
197500221260932826784282 seconds / 31557600 seconds per year = 6,258,404,354,606,587 years

That's more than 6.2 QUADRILLION years!

The entire universe since the Big Bang has only existed for about 13.8 BILLION years.  That means you'd have to continue this process from the beginning of the Big Bang until today, and then repeat that 453,508 more times!

THAT SOUNDS LIKE A LOT MORE THAN "a few years" TO ME! (and with a lot more computing power than you were suggesting).
member
Activity: 118
Merit: 11
March 05, 2018, 11:55:27 AM
It is possible. Let's say I have access to all computers and servers in the world and can use at least 10 % of their power to generate all bitcoin wallets and I have a big enough storage drive to get the results. It would take a few years, but I will have all those keypairs. Invent a better algorithm for generation, speed it up and maybe it will take even less time. Index the database and there you have it. The other reason as to why you will never know about it, is because nobody who would do such a thing would tell anyone about it. Why would they? Drop the bitcoin price? Set a world panic? Destroy bitcoin? Why would you, if you have access to all bitcoins? Why would you even take more than you need? Why not just empty the long lost wallets, and nobody would even notice. There are far better purposes for quantum computers than to generate bitcoin keypairs, let's do some calculations to get us further into space, move to Mars, improve statistics, make science breakthroughs, etc.
member
Activity: 230
Merit: 14
March 05, 2018, 08:42:54 AM
This is an interesting topic. I have only been familiar with quantum computing for a month. Reading all the responses and links shared, it looks like quantum computers won't break bitcoin anytime soon. And the technology will catch up soon to resist such attacks. There is already an awareness of the threat from the start.

There are a million things that could potentially kill bitcoin before quantum computing becomes a reallity. I think that BTC will be dead in 4 years if not less, no need for supercomputing.
full member
Activity: 224
Merit: 103
0x864E3764278C5EB211bF463034e703affEa15e4F
March 03, 2018, 04:32:56 AM
This is an interesting topic. I have only been familiar with quantum computing for a month. Reading all the responses and links shared, it looks like quantum computers won't break bitcoin anytime soon. And the technology will catch up soon to resist such attacks. There is already an awareness of the threat from the start.
newbie
Activity: 70
Merit: 0
March 02, 2018, 11:20:18 PM
Where do you heard this? The possibilities raised was, if quantum computer can destroy bitcoin. In making an act, specifically a criminal act especially this one which may be categorized into cyber crime but just to be clear if there is no law punishing it there is no crime which lead to another question. Is there a penalty if a person violated the rules and guidelines in Bitcoin? I believed there is, I will read further on this query I've raised.  Grin. Back into executing an act, there is three elements. 1. Motive - What possible motive a person will drive him to destroy bitcoin if he posses a quantum computer wherein in fact there are numerous advantages he can get if he use one in the arena of virtual currency, 2. Instrument - the quantum computer itself, 3. Opportunity - there are lots of opportunities in the world of cyberspace.

"It Always Seems Impossible Until It Is Done" - Nelson Mandela.
legendary
Activity: 2912
Merit: 1386
March 02, 2018, 10:55:48 PM
Because it is significant to understand the limitations and threats of a crypto system. In a couple of years down the road, QCs will be able to break current bitcoin's crypto

Long before any of "bitcoin's crypto" was "broken," every password of less than 12 digits is broken. Then every password of 16 digits, then 20, whatever...far down that line is bitcoin with >50 digits.

If every password of less than n digits is broken where (n < 25% of length of bitcoin private key) then certainly some of those passwords would be to the likes of coinbase.

But that dodges the question, doesn't it?
full member
Activity: 368
Merit: 107
March 02, 2018, 12:00:42 PM
Quantum computers could crack Bitcoin, but fixes are available now said  www.theregister.co.uk https://www.theregister.co.uk/2017/11/09/quantum_computers_could_crack_bitcoin/

Bitcoin is an important feature of its security. Bitcoin has two important security features that prevent them from stolen or copied. Both are based on cryptographic protocols which are hard to crack. In other words, they distort the mathematical function, such as factiveness, which is easy at one hand but is harder for others - at least one common classical computer.
sr. member
Activity: 574
Merit: 250
March 02, 2018, 08:09:16 AM
Because it is significant to understand the limitations and threats of a crypto system. In a couple of years down the road, QCs will be able to break current bitcoin's crypto
newbie
Activity: 126
Merit: 0
March 01, 2018, 10:19:56 PM
It doesn't matter, the quantum computer has a monopoly on power, but it's just an account, it doesn't change the total amount of bitcoins and the annual output. And since 2040, the production of bitcoins has been very low. Miners have not made much money, and a centralized accounting quantum computer is well worth it!
member
Activity: 308
Merit: 12
March 01, 2018, 11:06:39 AM
Quantum computer is a technology which can be useful in the future in some ways such as solving advance optimization problems. But it can also pose problems on cryptocurrencies once it was successfully developed, because it could upend cryptography and security by cracking otherwise invincible codes. Since quantum computers are not yet existing, then we dont have to worry. Or if its possible that it can be created, i think that the bitcoin teachnology already  did a solution for that.
member
Activity: 336
Merit: 10
February 26, 2018, 01:34:28 AM

that's a moot point. I think in the middle of 2018 we will find out the answer to this question. just this momet is expected to update in the development of a quantum computer.
Pages:
Jump to: