Even if quantum computer can work with reasonable amount of investment (Even a D-wave simulated quantum computer costs millions of dollars), the amount of electricity would outpace the generated coins: They are just 3000 times faster than a CPU. Even ASIC miners are millions of times faster than a CPU
It could be used to calculate private key from public key, through a signed transaction, but then it must done that inside 10 minutes, otherwise the funds are gone, to a new address with unknown public key
In fact I don't think quantum computer can do much better than traditional computer, since with more bits, it becomes exponentially difficult to stabilize the system. 4 bit is already difficult, 8 bits will be almost impossible to maintain the coherence and entanglement of all those quantum bits during the calculation
Topic: Quantum computing (Read 1649 times)
quantum computer won't be able to crack a 256 bit keys, like the private one, at best they will crack the pubblic address
so bitcoin is safe if you don't show your public address(i believe when you send a transaction)
so bitcoin is safe if you don't show your public address(i believe when you send a transaction)
I think quantum computing would be a game changer once it became readily available. I dont think it would change the mining game overnight.
I understand that quantum computing will be a game changer in cryptography, but ignoring the fact that they would be able to crack the Bitcoin SHA-256 encryption, would they be amazing at bitcoin mining too?
Would they ruin crypto mining for the masses?
No, it hardly ruin the mining.Would they ruin crypto mining for the masses?
Quantum computing is far from reality, so don't worry about this.
If you read some more about quantum computing you will learn that it is not easy let's "upgrade technology and we are ready to go".
From what I learned quantum computers would be insanely fast, but also very inaccurate while being fast. Basically they are making mistakes,
little deviations which are very big problem for now. And I don't know if scientist solved this already or if this flaw is even possible to overcome.
From what I learned quantum computers would be insanely fast, but also very inaccurate while being fast. Basically they are making mistakes,
little deviations which are very big problem for now. And I don't know if scientist solved this already or if this flaw is even possible to overcome.
The halving coming up next year will have more of an impact on miners than quantum computing in the foreseeable future.
Hopefully it will also push the prices up. If it takes more to mine, maybe it will automatically be worth more 
I'm not afraid of all this quantum hype. Bitcoin is an open source platform and can be upgraded, so if the hardware becomes too advanced the software will have to adapt.
The halving coming up next year will have more of an impact on miners than quantum computing in the foreseeable future.
https://bitcointalksearch.org/topic/quantum-computer-mining-78693 - Quantum computer mining
http://bitcoin.stackexchange.com/questions/10938/can-quantum-computing-improve-bitcoin-mining
http://bitcoin.stackexchange.com/questions/6062/what-effects-would-a-scalable-quantum-computer-have-on-bitcoin
tl;dr: Presuming somebody would craft one that could mine efficiently, it would move the milepost to the point where using current computing methods would be 'ruined' in a similar way to ASICs having 'ruined' CPU/GPU mining.
http://bitcoin.stackexchange.com/questions/10938/can-quantum-computing-improve-bitcoin-mining
http://bitcoin.stackexchange.com/questions/6062/what-effects-would-a-scalable-quantum-computer-have-on-bitcoin
tl;dr: Presuming somebody would craft one that could mine efficiently, it would move the milepost to the point where using current computing methods would be 'ruined' in a similar way to ASICs having 'ruined' CPU/GPU mining.
I understand that quantum computing will be a game changer in cryptography, but ignoring the fact that they would be able to crack the Bitcoin SHA-256 encryption, would they be amazing at bitcoin mining too?
Would they ruin crypto mining for the masses?
Would they ruin crypto mining for the masses?
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