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Topic: Quantum Computing Threat to BTC... Correct me if I'm wrong - page 2. (Read 295 times)

legendary
Activity: 3234
Merit: 1214
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Quantum computer is expected to have the capability to break a 256 bit encryption within seconds. However, it has not yet become a reality, only a certain degree of it have been achieved!

Now, I would agree to the point you are trying to establish! Having an weapon doesn't always mean it will be misfired and used against the humanity! So even if the quantum computer is built so capable enough to break the encryption of bitcoin network, it is least likely to be used for this purpose!
That's the perfect description. The fear about the quantum computer is all about breaking the network of bitcoin. In reality this isn't possible with the so called quantum computer from Google. This performs mathematical calculations that is impossible with traditional computers, likewise does complex mathematical calculations in 200 seconds which takes 10000 years on traditional computers.

As the bitcoin network is of complex algorithms there existed some fear. As for experts view the super computer at present has got only 53 Qbits which is the power calculation. To break the bitcoin network it requires at least 1500 Qbits. This way bitcoin is always secure.
sr. member
Activity: 1554
Merit: 334
With all these buzz about quantum computer's threat to current encryption techniques, we could also use quantum computing against itself. I recently watched a good video, which is 15 minutes long, regarding these encryption techniques and how quantum computers can protect itself from other attackers.

"Will Quantum Computers break encryption?" -  https://youtu.be/6H_9l9N3IXU

And another thing to mention, quantum computer made by Google is nowhere near the needed qubits to break current encryption. I think Google's quantum computer is somewhere 50, while the needed to break is near 250.
hero member
Activity: 2870
Merit: 594
I guess we really need to wait for years before we can suddenly say that Quantum Computing is a threat to BTC. Until then, this is just pure speculation and if ever if breaks SHA-256, someone will come up and a new consensus will be agree upon.

Here are the previous threads about it:

I don't believe Quantum Computing will ever threaten Bitcoin
Will Google's Quantum Computer Destroy Bitcoin?
How Will quantum computing affect BTC security and mining.
Quantum computers
Would Quantum Computer Kill Bitcoin
Is quantum computing threat to Bitcoin ?
legendary
Activity: 3080
Merit: 1500
Quantum computer is expected to have the capability to break a 256 bit encryption within seconds. However, it has not yet become a reality, only a certain degree of it have been achieved!

Now, I would agree to the point you are trying to establish! Having an weapon doesn't always mean it will be misfired and used against the humanity! So even if the quantum computer is built so capable enough to break the encryption of bitcoin network, it is least likely to be used for this purpose!
newbie
Activity: 3
Merit: 0
So those of us whom have been in the space for a while are sick of hearing about this "quantum threat". At least I know I am!
First off I dont think this threat is close to becoming an issue for bitcoin and I think that there are already ways of dealing with this as I hear from AA and other btc tech guys.
CORRECT ME IF I'M WRONG but if someone had that technology to break encryption and wanted to wreak havoc couldn't they easily crash equity markets, commodity markets, forex markets, and damn near anything they pleased? Why would they mess around with a cryptocurrency that hasn't even reached a trillion dollar market cap!? -well unless they had some sort of grudge

But seriously what type of things could be done to anything internet based, which is practically everything from banking, shopping, communicating, autopilot vehicles and planes, markets etc...?

Sorry if this is off topic. I dont think it is but Im sick of talking about btc with others and they bring up this stupid scenario where it would be the end all Bitcoin and I wanna spit some good facts next time so help me out..

-Crypto Love
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