Topic: Will Google's Quantum Computer Destroy Bitcoin? - page 2. (Read 805 times)

About objectivity, the introduction of Quantum Computer is a new step in technology. It is inevitable. And it's really powerful, a Quantum Computer can perform billions of calculations per second, it has been proven. It's more powerful than supercomputers in the world right now. If cryptocurrency wants to exist and grow, it must be adapted. But I don't know how blockchain can be adapted, and even impossible. Hard forks are not enough, at least for now.

And now this:

Intel’s scalable quantum control chip
https://www.gigabitmagazine.com/big-data/hold-your-horse-ridge-intels-scalable-quantum-control-chip
Jim Clarke, Intel’s director of Quantum Hardware, said in a press release: “...... in order to develop a large-scale commercial quantum system.”

Who will win?

It's too soon to think about it. That's when quantum computers will become more or less popular, then it is worth thinking about it.

A quantum computing future is unlikely – here’s why
https://techcentral.co.za/a-quantum-computing-future-is-unlikely-heres-why/94562/
by Subhash Kak, Regents professor of electrical & computer engineering, Oklahoma State University
'While quantum cryptography holds some promise if the problems of quantum transmission can be solved, I doubt the same holds true for generalised quantum computing. Error-correction, which is fundamental to a multipurpose computer, is such a significant challenge in quantum computers that I don’t believe they’ll ever be built at a commercial scale.'

Yes. Even with Google's recent claim of "Quantum Supremacy", the field is just starting to blossom. It may take a couple of years from now, before Quantum Computing becomes a threat against the existence of cryptocurrencies like Bitcoin and Ethereum. By then, it's hoped that cryptocurrencies would've taken a step ahead by implementing defense mechanisms against Quantum computing attacks. I'm sure that Bitcoin miners would quickly reach consensus in order to adopt Quantum-resistant signature schemes for the underlying Blockchain network.

In the future, Quantum Computing could improve Blockchain's performance by a long shot. Bitcoin and other cryptocurrencies can make use of Quantum Processing in order to reach a higher degree of scalability like never before. Cryptographic encryption methods will also improve, because of this revolutionary technology. But for now, we shouldn't worry much about Google's Quantum Computer destroying Bitcoin since it's just a prototype after all. Just my opinion

I don't think Google's quantum computer will be able to destroy bitcoin. because I'm sure bitcoin developers and pioneers will improve the security of bitcoin so it's not easy to hack. and I've read that Google's quantum computer uses the sycamore quantum processor. and this sycamore is only 53 qubits, and it's not enough to break the bitcoin blockchain.

Thanks for the merit. 

I believe the price did fall after Google's announcement but then rallied again due to IBM's.

https://www.technologyreview.com/s/614604/quantum-supremacy-from-google-not-so-fast-says-ibm/

Every qubit they add doubles the amount of paths they can analyze at once.   

Destroy? it maybe difficult to make it happen. quantum computer was built as a expensive one as of now. everyone can not easily purchase it until next 5 years, so blockchain buy's time to improve more. but with this matter is there any hope that bitcoin will spread if the quantum computer is the dominant one? and at that rate fiat will always alive and not replaceable?  I bet that hard fan of btc will always choose it for any online purchase. it's reliable and convenient. (its seems I answer a different one from a similar thread)

The prototype google made will not affect bitcoin nor any other industry, it will take a long time to come up with a perfect solution and i think it is really impossible as the production cost is really high to come up with something like that and to continue to spend money to achieve something impossible seem to be dumb, these events happen because they want to create history as there is a big competition going on between major tech giants to come up with a super quantum computer.

I've answered this same type of question within another thread, this isn't science fiction, today's quantum computers are quite harmless, they still haven't worked out all of the kinks yet. Quantum physics is a trick subject that can never be written in stone or explained with simple logic. Quantum mechanics defies the laws of modern physics as we know it. It means that past the molecular level, existence remains in a state superposition( think Schrodinger's cat). 
 The D-Wave quantum super computer is the closest thing to a commercial product right now, and it handles a limited amount of things that are criteria specific.  This means it can only do certain types of calculation at the moment. It could easily end up being a few years until they become mainstream and consumer friendly.
 
Here is a buyers guide if your interested in it for reference purposes

https://www.newscientist.com/round-up/quantum-buyers-guide/

Hacking Bitcoin with a Google quantum computer for me is equivalent to a US attack on China. I mean that it will be an incredible scandal and a global conflict. I don’t think that Google wants this at all.

As per Andreas M. Antonopoulos   google quantum computer will nt effort bitcoin on any form bitcoin is much more superior

Deserves a merit because pretty much on point. They are years away from public use and even if there is a hint of trouble due to private use in Google labs then it's not only bitcoin which would need to increase their security it's also most websites and especially banks.

Right now I wouldn't worry and this was discussed last week when we got the crash all the way down to $7200. People were saying that Bitcoin is crashing because of Googles quantum computer and its not longer secure and hence the sell-off. It was nothing but a coincidence and we rallied about $2000 since then so obviously nobody who is buying Bitcoin thinks it's an issue.

I see it was just a click bait after all. easy for them to say about the vulnerability of Bitcoin's High standard encrypton. I mean, how can they tell us about something that didn't exist at all. No computer can destroy bitcoin. if there was, the price of the bitcoin will dramatically decrease today.

There is nothing yet for Google to produce - currently it's a prototype, insanely expensive and complicated.

Will be a few years yet before these are available for private use.  But yes, quantum computers are a danger not only to crypto but all banking and anything else that uses encryption.

As per the experts, it will be too early for now to be afraid, it will take few years before it happen. So, we should not be afraid now, we can still enjoy the benefit of blockchain.

Panicking with this will just lead to us to lose our focus with what we are doing. Lets not worry and go with the flow for now.

Everybody started to be afraid of the possibility that super computers can destroy Bitcoin. I don't think that super computers are being developed for the aim of finishing Bitcoin. They are developed to be way better in performance than normal computers.

Not external sources, Google has just informed that they've just reached quantum supremacy.

As you can see: https://www.youtube.com/watch?v=QMhPkMXx7gw

But no. There is nothing to be afraid. It is still to hard to hack a Bitcoin wallet. And I think, there are a lot of thing to do this computer now.

Well, if quantum computing advances fast, this can mean the end for Bitcoin, right? However, for now, the field has been taking baby steps, and whatever Google has these days, it cannot be a problem for Bitcoin. It's also unclear whether it's a matter of time till we have an awesome quantum computer or whether it's impossible in principle. It's like the strong AI question in this sense. But anyway, it seems that even if quantum computers destroy Bitcoin one day, they won't destroy cryptocurrency, because even these days there are already projects working on quantum-resistant cryptos (although I don't understand how it works).

That too. Of course, everything will depend on the miners themselves. I'm sure that something as critical as "Quantum Computing" attacks, will become much of a concern to every single miner within the Bitcoin blockchain. After all, they wouldn't want their profits to come to an end. A hard fork which implments "Lamport Signatures" might do the trick. Right now, Google's Quantum Computer is far more superior than Quantum Computers like IBM and D-Wave Systems. But as with everything in life, we adapt and improve towards the latest trends in technology every step of the way. Eventually, cryptocurrencies will have to adapt themselves against the latest threats within the mainstream world or be left behind in the dust.

Despite this, I believe that the trend of Quantum Computing could result more beneficial towards the improvement of Blockchain technology than anything else. We'll just have to wait and see what happens over time as the space matures within the mainstream world. After all, Quantum Computing is just starting to blossom. Cryptocurrencies like Bitcoin and Ethereum could gain a step ahead by adopting Quantum-resistant mechanisms before it's too late. Until Quantum Computing becomes a serious threat to the existence of Bitcoin and other cryptocurrencies, everything should be fine.