I do not rule out that all this is a big hype for the sake of allocating money. It remains to be seen whether this technology will find an application for itself. Even if you imagine that it will be introduced to the masses at a reasonable time.
Also when thinking of the rules of the game must be profitable or something that will benefit this game. They will think of things to be happy to hear the situation, the new will have its own changes to see ...
Topic: Quantum cryptography imminent? White House earmarks over $1B for research (Read 184 times)
July 30, 2018, 04:47:39 PM
July 18, 2018, 07:06:17 AM
I'll have to read up a bit on what quantum computing is. I get that it could obliterate bitcoin's security, but the posts here that I've read seem to suggest that it's not going to be achieved.
Good breakdown on the current state of quantum computing:
https://www.youtube.com/watch?v=6yaY4Fw-ovM
I think quantum computing is like... flying cars, fusion energy and self driving cars. There has been hype for those things but they never truly materialized and perhaps never will.
In the case of quantum computing the biggest obstacle could be the lack of a blueprint or even a general concept of how to build one. As far as I know the theory doesn't exist beyond a vaporware development phase where there's a vague idea of how it might work but no one has fleshed out the details in a way for exactly how it might be built.
Also: $1 billion isn't a hell of a lot for a government to be spending on a project if I'm not mistaken. I do agree that some programs tend toward wasted money, but this project actually doesn't sound like that. Sound like it could really be useful.
After the affordable care act was passed, the US government built a healthcare website to allow sign ups online. The cost of that website was $1 billion. The website didn't work properly and I think more funds needed to be allocated for it to have full functionality. Hopefully things won't be that bad this time around.
July 17, 2018, 06:57:43 PM
Luckily for us, large centralized governments have historically shown themselves to be inefficient and ineffective in managing these types of projects. There's a pervasive mentality of "throwing large sums of money at problems" which in turn typically leads to rampant nepotism and catering to special interests within a profiteering vein rather than effective management of resources or responsible budgeting.
Atomic bomb, space programs, the Internet are very strong counter-examples. I think from a free market point of view, the problem with government-funded big projects is that they are can be inefficient rather than unsuccessful, and are way ahead of their time. Moon landing is probably the best example - it was basically a very expensive political muscle flex.
If a true quantum computer were ever developed it could have serious implications for crypto currencies which rely upon sub-quantum level encryption for security purposes.
Most cryptography experts don't worry about it, they know that we are still very far away from them, and by the time they will be developed, quantum-resistant algorithms will be adopted.
July 17, 2018, 06:56:41 PM
I think in the long term quantum computers will be good for cryptocurrencies. I think this is all fud.
Yeah, me too. I've been intellectually lazy when it comes to my understanding of cryptocurrency. I've had college-level calculus and linear algebra, which is more than the average American has studied, but it seems like most people on bitcointalk are absolute geniuses when it comes to math--I can't follow most of the discussions I've seen because of that. Fortunately that doesn't prohibit me or anyone from actually using bitcoin, but then I read stuff like this and to someone ignorant like me it sounds scary.I'll have to read up a bit on what quantum computing is. I get that it could obliterate bitcoin's security, but the posts here that I've read seem to suggest that it's not going to be achieved.
Also: $1 billion isn't a hell of a lot for a government to be spending on a project if I'm not mistaken. I do agree that some programs tend toward wasted money, but this project actually doesn't sound like that. Sound like it could really be useful.
First thing I thought, however, was that I wish they would spend more money trying to cure cancer or some other health problem that's been plaguing humanity for centuries. My guess is that they could do it.
July 17, 2018, 06:47:20 PM
Quantum technology is much powerful than crypto, perhaps the most powerful technology to ever exist and its very risky. There's not much info available on quantum and even if there is, it's top secret. It's good that a lot of money is being spent on this, and once the real deal is out, everything changes forever. I might be talking from the movies point of view here. I watch a lot of sci-fi movies. But honestly if someone gets a break through on quantum technology, crypto would be literally out dated.
July 17, 2018, 03:27:08 PM
If quantum mechanics becomes highly developed in such a short time, bitcoin will be the least of the problems we should worry about, national security, military equipment will be vulnerable.That is the main problem, not bitcoin
July 17, 2018, 03:23:38 PM
Apologies if I sound biased here. Perhaps my views are a bit outdated? Would be interested to hear about that.
I just had the idea about where your conclusion would be towards when I saw the title of the topic. I think the issue of quantum computers and its effect on crypto currency has been a subject of discussion which didn't begin recently but rather an invention that some people see as a threat against bitcoin. The mere fact that the Republicans and the Democrats to agree on this without raising any dust, showed that enormous possibilities that this research is going to bring.
For me, there is still some consolation in this which are
1. It would still take them another ten years to have a chance at the unveiling the anonymity of bitcoin and I also believe that more advancement would have been done on the blockchain development. Kudos to the man that create a technology in the present, that only a computer in the future can break.
2. Another consolation is the fact that they are more concerned about competition with China than bitcoin which I feel will keep them busy for a while.
July 17, 2018, 01:51:34 PM
The white house is really interested in cryptocurrencies last days but I'm concerned will they give us the positive result about our precious cryptocurrencies or they will leave a negative feedback on them and we will struggle with price declining again.
July 17, 2018, 09:32:25 AM
I do not rule out that all this is a big hype for the sake of allocating money. It remains to be seen whether this technology will find an application for itself. Even if you imagine that it will be introduced to the masses at a reasonable time.
July 17, 2018, 08:37:37 AM
quantum computers will not break privatekeys or anything like that... I think in the long term quantum computers will be good for cryptocurrencies. I think this is all fud.
Anything that might jeopardize cryptocurrency will serve its purpose to those who spread FUD, whether they are not that dangerous or not and quantum computers are no exception since it being able to decrypt private keys in a short period of time is still a possibility.they do not develop things like quantum computing technology on their own, although they are good at stealing technology from others. Apologies if I sound biased here. Perhaps my views are a bit outdated?
It ain't outdated but I wouldn't call it stealing technology from others if the data needed to develop it is open-source and can be easily accessed by others(published researches). 
July 17, 2018, 06:53:32 AM
I agree with you, as government as often inefficient in creating new technologies like this.
However cryptocurrencies already worth a lot of money, so private companies are already interested in investing in related technologies such as quantum cryptography/computers.
quantum computers will not break privatekeys or anything like that...
I think in the long term quantum computers will be good for cryptocurrencies. I think this is all fud.
I would like to hear opinions from core devs about this subject, because all I read about it is just fud.
However cryptocurrencies already worth a lot of money, so private companies are already interested in investing in related technologies such as quantum cryptography/computers.
quantum computers will not break privatekeys or anything like that...
I think in the long term quantum computers will be good for cryptocurrencies. I think this is all fud.
I would like to hear opinions from core devs about this subject, because all I read about it is just fud.
July 17, 2018, 05:38:00 AM
Quote
It turns out quantum computing is one of the few things US politicians can agree on. A bipartisan effort over the past few months has led to the formation of an Office of Science and Technology Policy (OSTP) subcommittee focused on quantum technology.
The big idea: Bills introduced in the House and Senate, by both Republicans and Democrats, last month seek to establish government support and funding for quantum computing research. The OSTP subcommittee will oversee these efforts. Government spending on quantum computing research has been budgeted in excess of $1.2 billion, not counting Department of Defense and DARPA projects.
Why should we care: The government didn’t move this quickly to approve budgetary line items last year when a similar bipartisan effort to form an artificial intelligence subcommittee played out, but there’s a clear and present danger to national security when it comes to quantum computing.
Experts believe that quantum computing technology will soon be able to crack classical encryption. The moment this becomes possible, referred to as “Q-day,” every encrypted system on the planet will be vulnerable.
The US government is certainly aware of China‘s ambition to lead the world in quantum technology, as is evident in the nation’s many recent breakthroughs in the field.
The end game: It’s unclear whether $1.2 billion over 10 years, as has been reported, will be enough for the US to keep its lead in quantum computing technology. While US-based companies are clearly out in front, those in China tend to have a more transparent relationship with the government.
If the Trump administration wants to signal that it’s serious about defending the US against technological threats, it should consider filling the dozens of vacant seats in its science and technology offices. At a bare minimum the White House should appoint a chief science advisor, because right now those duties are being handled by Michael Kratsios, a guy whose “science” degree is in political science.
https://thenextweb.com/politics/2018/07/09/white-house-earmarks-over-1b-for-quantum-technology-research/
The big idea: Bills introduced in the House and Senate, by both Republicans and Democrats, last month seek to establish government support and funding for quantum computing research. The OSTP subcommittee will oversee these efforts. Government spending on quantum computing research has been budgeted in excess of $1.2 billion, not counting Department of Defense and DARPA projects.
Why should we care: The government didn’t move this quickly to approve budgetary line items last year when a similar bipartisan effort to form an artificial intelligence subcommittee played out, but there’s a clear and present danger to national security when it comes to quantum computing.
Experts believe that quantum computing technology will soon be able to crack classical encryption. The moment this becomes possible, referred to as “Q-day,” every encrypted system on the planet will be vulnerable.
The US government is certainly aware of China‘s ambition to lead the world in quantum technology, as is evident in the nation’s many recent breakthroughs in the field.
The end game: It’s unclear whether $1.2 billion over 10 years, as has been reported, will be enough for the US to keep its lead in quantum computing technology. While US-based companies are clearly out in front, those in China tend to have a more transparent relationship with the government.
If the Trump administration wants to signal that it’s serious about defending the US against technological threats, it should consider filling the dozens of vacant seats in its science and technology offices. At a bare minimum the White House should appoint a chief science advisor, because right now those duties are being handled by Michael Kratsios, a guy whose “science” degree is in political science.
https://thenextweb.com/politics/2018/07/09/white-house-earmarks-over-1b-for-quantum-technology-research/
....
If a true quantum computer were ever developed it could have serious implications for crypto currencies which rely upon sub-quantum level encryption for security purposes.
Luckily for us, large centralized governments have historically shown themselves to be inefficient and ineffective in managing these types of projects. There's a pervasive mentality of "throwing large sums of money at problems" which in turn typically leads to rampant nepotism and catering to special interests within a profiteering vein rather than effective management of resources or responsible budgeting.
Real breakthroughs in technology like the "EM Drive" which the media credits NASA for "developing" despite them having played no role in it typically come from small and independent researchers. Large governments like china typically do not create their own value--they do not develop things like quantum computing technology on their own, although they are good at stealing technology from others.
Apologies if I sound biased here. Perhaps my views are a bit outdated? Would be interested to hear about that.
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