Topic: Quantum Computing and bitcoin (Read 1019 times)
Google is jumping on board http://googleresearch.blogspot.com/2013/05/launching-quantum-artificial.html
Quantum Computer's bits can be both on and off at the same time and therefore allowing exponentially larger simultaneous calculations to a single problem.
I.E a Quantum computer could smash through a 256bit key in microseconds because it could test more hash's simultaneously than what a standard pipeline executing computer could.
IIRC D-wave are close to true quantum computing but its not quite there yet...
I.E a Quantum computer could smash through a 256bit key in microseconds because it could test more hash's simultaneously than what a standard pipeline executing computer could.
IIRC D-wave are close to true quantum computing but its not quite there yet...
What is quantum computing anyway?
Correct me if i'm wrong, but i believe they are computers that work on a atomic level. Instead of switches, they use atoms.
What is quantum computing anyway?
How are the D-wave systems are not quantum computers?
I've googled et all but still not understanding what the underlying qualifications for quantum computing may be?
I've googled et all but still not understanding what the underlying qualifications for quantum computing may be?
They can't be used to mine bitcoin iirc
They could, but would bring huge fluctuations in conversion and logarithms of the system.
How are the D-wave systems are not quantum computers?
I've googled et all but still not understanding what the underlying qualifications for quantum computing may be?
I've googled et all but still not understanding what the underlying qualifications for quantum computing may be?
They can't be used to mine bitcoin iirc
This is not a problem I think. You can just upgrade bitcoin and use a very high encryption suitable for quantum computers.
How are the D-wave systems are not quantum computers?
I've googled et all but still not understanding what the underlying qualifications for quantum computing may be?
I've googled et all but still not understanding what the underlying qualifications for quantum computing may be?
They already have quantum computers. D-Wave Systems is producing them. I am not sure if they are anywhere near usable for any such hacking 
But it probably would be quick to mine with them
But it probably would be quick to mine with them D-Wave sounds like the BFL of quantum. They claim to have produced one but have not shown any evidence, and if I remember correctly many quantum computer experts are skeptical. They teamed up with some American military contractor (D-Wave is from Vancouver), Lockheed I think, so it's likely that the US military will have them first, one way or another.
Thankfully for us, they have bigger things to do with them than worry about Bitcoin.
Once they become more widespread either Bitcoin will have to be radically updated, or replaced with some type of quantum cryptocurrency.
You think if/when quantum computers become reality the military, the internet and the government won't update their security measures?
Depends on which military and government gets their hands on a quantum computer first.
You think if/when quantum computers become reality the military, the internet and the government won't update their security measures?
Depends on which military and government gets their hands on a quantum computer first.
They already have quantum computers. D-Wave Systems is producing them. I am not sure if they are anywhere near usable for any such hacking But it probably would be quick to mine with them
But it probably would be quick to mine with them D-wave systems are not quantum computers.
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Besides that I assume the day quantum computers can do more than simple calculations we'll have encryption algorithms designed for them.
Exactly. It just a matter of using longer salt values. We use 256-bit encryption because its highly impractical to crack it without years of time on a supercomputer, but there's no reason we couldn't just increase the length of our encryption keys.
In short, unless someone is hiding a quantum computer that is 50 years ahead of its time, we're probably safe.
While that's true, if quantum computers become available i would assume all of these things would get them first before they are made available to the public. It would also destroy public key encryption. I guess my question is, if this does happen, bitcoin is screwed Right?
Yes, yes it is. However, nothing is stopping a quantum-crypto-currency from hitting the market.
Quantum encryption. That has got to be an oxymoron lol
How would that work? Wouldn't all forms of encryption we have now be rendered useless?
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In contrast, most current symmetric cryptographic systems (symmetric ciphers and hash functions) are secure from quantum computers.[2][5] The quantum Grover's algorithm can speed up attacks against symmetric ciphers, but this can be counteracted by increasing key size.[6] Thus post-quantum cryptography does not focus on symmetric algorithms.
Besides that I assume the day quantum computers can do more than simple calculations we'll have encryption algorithms designed for them.
While that's true, if quantum computers become available i would assume all of these things would get them first before they are made available to the public. It would also destroy public key encryption. I guess my question is, if this does happen, bitcoin is screwed Right?
Yes, yes it is. However, nothing is stopping a quantum-crypto-currency from hitting the market.
Quantum encryption. That has got to be an oxymoron lol
How would that work? Wouldn't all forms of encryption we have now be rendered useless?
They already have quantum computers. D-Wave Systems is producing them. I am not sure if they are anywhere near usable for any such hacking But it probably would be quick to mine with them
But it probably would be quick to mine with them While that's true, if quantum computers become available i would assume all of these things would get them first before they are made available to the public. It would also destroy public key encryption. I guess my question is, if this does happen, bitcoin is screwed Right?
Yes, yes it is. However, nothing is stopping a quantum-crypto-currency from hitting the market.
Quantum encryption. That has got to be an oxymoron lol
Quantum computing could destroy the security of the military, the internet, and the government. If quantum computing becomes available, Bitcoin will be the least of my worries.
You think if/when quantum computers become reality the military, the internet and the government won't update their security measures? 
While that's true, if quantum computers become available i would assume all of these things would get them first before they are made available to the public. It would also destroy public key encryption. I guess my question is, if this does happen, bitcoin is screwed Right?
Yes, yes it is. However, nothing is stopping a quantum-crypto-currency from hitting the market.
Quantum encryption. That has got to be an oxymoron lol
While that's true, if quantum computers become available i would assume all of these things would get them first before they are made available to the public. It would also destroy public key encryption. I guess my question is, if this does happen, bitcoin is screwed Right?
Yes, yes it is. However, nothing is stopping a quantum-crypto-currency from hitting the market.
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