Quantum Computing and a hard fork?` | Bitcointalksearch.org

calkob

hero member

Activity: 1106

Merit: 521

Quote from: PovertyByte on March 08, 2017, 09:21:27 PM

I've seen mention before about how quantum computing would break all modern cryptography, and how it could kill BTC but luckily BTC could hard fork a new algo and be quantum computing resistant.

Something I am wondering is how secure would BTC be during that fork as all the ASIC farms are decommissioned and a completely new set of miners with whatever hardware calls for it jump on? Would this process never happen because we depend on a 95% consensus from the current miners who would rather not say goodbye to their ASIC farms and rather milk every last week left out of their invested farms before Bitcoin gets broken by quantum computing?

Yeah i dont think we have to much to worry about in the bitcoin community, yet.... Even tho those in the bitcoin community eat, sleep and breath bitcoin, the fact is most people couldn't careless. If someone has a working Quantum computer right now i doubt very much they will use it to attack bitcoin. like you said the whole internet and current banking is under threat.

franky1

legendary

Activity: 4424

Merit: 4794

quantums abilities to solve binary logic problems are limited

quantums feature are about solving non binary logic problems. (like vector problems)

in essense SHA(mining) is not much of a target and ASICS are well beyond CPU speeds anyway so ASICS are ahead of the quantum risk. (for many years atleast)

however vector problems. more so things like ECDSA are more of a target sooner. and ECDSA can be changed, but requires people to move funds away from ECDSA keys to something new,

so dont over exaggeration doomsday mining, and instead be cautious about the priv/pub key mechanism,
which at this current time is still years away from being any real 'break' threat.

secondly the pretense that pools will hold off on any changing to the mining algo are silly notions anyway.
most pools that are ASIC FARMS (not random user host pools) have their own ASIC manufacturing facilities and they actually profit from selling hardware to random users. so if something were to change, these ASIC farms will still be at the top/first spot because they will have developed the next gen of asics for whatever algo mining could be changed to. (apart from PoS, which is then more at risk to quantum due to it requiring signatures)

PovertyByte

sr. member

Activity: 420

Merit: 250

I've seen mention before about how quantum computing would break all modern cryptography, and how it could kill BTC but luckily BTC could hard fork a new algo and be quantum computing resistant.

Something I am wondering is how secure would BTC be during that fork as all the ASIC farms are decommissioned and a completely new set of miners with whatever hardware calls for it jump on? Would this process never happen because we depend on a 95% consensus from the current miners who would rather not say goodbye to their ASIC farms and rather milk every last week left out of their invested farms before Bitcoin gets broken by quantum computing?

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