Topic: Will Google's Quantum Computer Destroy Bitcoin? (Read 807 times)

You are wrong about that, google is by far the most advanced technological company in the world they have been scaling mobile industry, search industry and hardware industry.

Google has been investing on large scale new technologies, so its no shock if they're already using quantum technology to breakthrough the computing limits where in fact other private company's already have those.

So they've decided to step up to the competition in order to not get left behind.

First of all, there were no official announcements on this topic from Google. I'm sure they would've scream about it if some real breakthrough had happened. Moreover, even if they succeed, there's at least a decade to unfold this tech before it starts working

People have been getting paranoid about quantum cumputing for many years now. I think the main problem is how news outlets present their "research", which is by turning every article into a clickbait moneygrab.

The more of a problem you make out of quantum computing as news outlet, the more likely it is that people click on it because they fear their investment in Bitcoin might become worth zero.

The whole crypto space would be a better place without greedy news outlets.

Nope, don't get paranoid

This quantum computer by Google, could threaten Blockchain technology in the future. But I don't think Google will be able to achieve this, as crypto will adapt to the latest trends in cyber space. The quantum computer could be used for good instead of evil. If put up to good use, Blockchain technology's performance and security will rise like never before. Before quantum computing becomes a threat to Bitcoin, I believe that developers will integrate quantum-resistant signatures into the Blockchain. I'm sure that most (if not all) miners will agree to this change since their money is at stake. A simple hard fork will make Bitcoin immune against quantum computing attacks.

Other blockchain networks have taken a step ahead by adopting quantum-resistant signatures. Nexus (NXS) is already quantum-resistant, as well as, the Quantum Resistant Ledger (QRL). These cryptocurrencies could serve as an "escape route" in case the Bitcoin blockchain becomes compromised by Google's quantum computer. But I doubt that there will be the need to migrate to these other chains in the future. In the end, it'll be impossible to destroy Bitcoin no matter how hard mainstream companies (and governments) try. The pioneer cryptocurrency will be here to stay thanks to its massive community support and high hashrate for security against 51% attacks. Just my opinion

I think that at a time when quantum computers can directly affect cryptocurrencies, the developer community will always have changes to advance so that they cannot be affected by anything. Everything will always change to survive

Honestly I am also scared of the so-called quantum computing and it capability in quashing blockchain I read an article where it was stated that Google had used it to solve a mathematical problem that had remained unsolved for many years, I believed the evolvement of this computing system would surely threaten blockchain technology in the nearest future.

Exactly. Algorithms and technology will continue to improve over time. We may have seen the advent of Quantum Computing, but existent technologies could adapt to this trend in no time. Bitcoin could easily implement a quick fix to become resistant against Quantum Computing attacks. I'm sure many miners will agree to this change, as their money is at stake. In the case of Google, I believe that the company has been full of hype than anything else. Their claims of "Quantum Supremacy" must be questioned, in order to determine with precision the impact it'll have over traditional (classic) computers of today. Slowly but surely, Quantum Computing will improve to a point where they'll be able to replace existing computers. Google might as well use its own Quantum Computer for good instead of evil. The field of Quantum Computing can be extremely beneficial for the improvement of Blockchain technology's performance within the mainstream world.

Considering that Quantum Computers are still in their infancy, they don't pose a threat to existing cryptocurrencies yet. Developer teams of prospective cryptocurrencies (like Bitcoin and Ethereum) should take a step further by implementing Quantum-resistance before Quantum Computers become a real threat to the Blockchain industry. We still have plenty of time, so I wouldn't worry much about Google's Quantum Computer destroying Bitcoin today. Just my opinion

Google has nowhere mentioned that their Quantum Computing capabilities will be put into use towards the cryptocurrency sector and it is very likely to remain the same. There are much better places for it to be utilized which extends mainly to scientific simulations especially in Physics. With that said, there could be a small possibility of Google going full monetary-headed and put it to use in the economic industry to directly to push their stock values up.

I will read the archive later after I am done with my home works, but for now I am wondering if the recent price is connected to googles being able to make a chip that can be a super computer and break through Bitcoin. What if it is not true and just making things just to bring down the price of bitcoin and other crypto currencies?

That's not an issue. Bitcoin developers have already post quantum solutions.
But there are lots of 'shalecoins', https://bitcointalksearch.org/topic/bitcoin-as-shalecoin-5134441 coins with no owner. With quantum computers, these coins will become active and change the Bitcoin ecosystem.

His coins would be quantum secured, if he sent them to P2PKH addresses. But he did not and isn't doing.

We will get the answer with quantum computers. As soon as possible.

From the point of view of people from the past, we currently have unimaginable computing power, when you can crack old crypto systems on your home computer in seconds, but it really doesn't mean much, because crypto systems evolve to match new challenges. Quantum computers are still extremely theoretical/experimental, but we already have algorithms that can resist them. And algorithms will keep improving in the future, so I'm sure the will have an upper hand over quantum computers.

Fake news or not I believe it's just a matter of time until we reach an unimaginable computer capability to calculate enormous number and that's technology development that can't be stopped. However, if there's any computer like that out there. i'm pretty sure that it'll not be in the hand of someone unresponsible. But, there's always a chance that it could go against any cryptocurrency so we should actually put our concern here rather than denying the reality.

We hope that people who use crypto will know that the news is not right, so they don't panic to see if the quantum computer will destroy bitcoin. They should learn from the other news about a quantum computer so they can understand what the right thing from that news is. That doesn't make sense because I am sure bitcoin will adapt to the current situations, and as you said, the developer will always upgrade the system following the growth of the technology.

This advancement called Sycamore quantum of Google performs calculations that even the most high tech supercomputers couldn't perform. A test showed that this quantum computer solved even the most complex calculation in just 200 seconds that a supercomputer would compute for 10,000 years. Now, this technology is feared among the Bitcoin community because an article showed that it will destroy it. However, this won't be possible yet. It isn't Google or quantum computer which will destroy or track Bitcoin. It is the hackers and criminals who could use this technology for tracking blockchain-based cryptocurrencies like Bitcoin.

Full article here https://www.inc.com/eric-mack/no-google-its-quantum-computer-arent-killing-bitcoin-anytime-soon.html

Well quantum computers are getting real, in the last 10 years or so they have made a massive gain on this technology. However, I don't think that quantum computers aim is to break bitcoin, it could have lots of used in other fields, not just in cryptography. Plus, I don't think that they can simply have this to individuals who have bad intention, i.e break or stole someone's private key. I'm sure it will be the authorities or higher academe that will get the first hand if such quantum computers have been developed. And not some hackers or criminals out there.

Yes, I agree with you, I think it's just a hoax because until now there has been no official announcement from Google about quantum computers. and I think if a quantum computer does exist then I'm sure bitcoin developers will improve security systems and strengthen block security. I'm sure bitcoin developers will try hard to strengthen the bitcoin system and network.

I think its not yet implemented by google. If its part of there plan, I guess it should not destroy bitcoin. They should create something that can help or advantageous to everyone. They need clients or users and they can't just make a move that hinders or deprive users in using bitcoin. I believe they are also interested with bitcoin so probably they must design a system or computer system that benefits everyone.

In the first place how could they crack an encryption mainly built from hashing algorithms? Because if we are to think about this, if you are to change even one transaction in bitcoin, then every preceding transactions will be different, in fact, hashes couldn't not be decrypt so the encryption is strong enough even with the quantum computers. And what if in the future, these quantum computers could be use to make an even stronger encryption than SHA256 that we already have in bitcoin.
Here's the thing, instead of being afraid to the technology, we should always see the benefits that they could provide.

Indeed. A quantum computer can defeat Bitcoin in its current state. With Google's claim of achieving "Quantum Supremacy", the company can take down the entire Bitcoin network in a blink of an eye. But we all know this will never become a reality, as miners will quickly reach consensus in order to protect Bitcoin against Quantum computing attacks. By the time Quantum Computing becomes a real threat to Bitcoin, the pioneer cryptocurrency would've adopted Quantum-resistant mechanisms (Lamport signatures maybe?) to stay relevant within the mainstream world. As of now, the field of Quantum computing is still in its infancy. Slowly but surely the Bitcoin community will explore ways to increase security against Quantum computing attacks, to keep the cryptocurrency going for the foreseeable future.

Considering how active Bitcoin's development team has been over time, I wouldn't worry about Quantum Computers posing a risk to its existence anytime soon. A simple tweak here and there, should make Bitcoin Quantum-ready without hassles. With time, we'll be able to determine if Quantum Computers will be able to live up to the task or not. Hopefully, the field of Quantum Computing would prove to be more beneficial for the growth of the entire Blockchain industry than all the other way around. Just my thoughts