Topic: Will quantum computing kill crypto? - page 2. (Read 9112 times)
Quantum computing has the ability to make any encryption obsolete and unusable. It poses a massive threat the cryptocurrency and any sort of protection in any way online. We are pretty far from this being a reality luckily so soak it in and buy low sell high now while you can. If you guys thought you'd seen a dump on the exchanges wait til you see the dump that comes once quantum computing is more of a reality....
See, if governments decide they do not want crypto to exist, they will simply block the major exchanges and Bitcoin-related sites and before you know it all your hopes of Bitcoin becoming mainstream will vanish.
Hmm let us hope this will never happen
The next project to be aware of must be teleportation,
When quantum computers are active a new problem with hit the lights.
You would be able to observe things that you could not even begin to imagine observing or altering by mechanical manipulation.
It's to early to say Bitcoin would be safe.
When quantum computers are active a new problem with hit the lights.
You would be able to observe things that you could not even begin to imagine observing or altering by mechanical manipulation.
It's to early to say Bitcoin would be safe.
I think as these technologies develop, so too will crypto. People will figure out ways to prevent hacks due to quantum computing/teleportation, etc. The real thing that threatens cryptocurrency adoption are governments.
See, if governments decide they do not want crypto to exist, they will simply block the major exchanges and Bitcoin-related sites and before you know it all your hopes of Bitcoin becoming mainstream will vanish.
It will first kill all the current encryption algorithms safeguarding e-commerce and banks.
So quantum-proof new algorithms will be developed. It's pretty easy for Bitcoin to hardfork to a new algorithm, and this wouldn't be a controversial hardfork.
So quantum-proof new algorithms will be developed. It's pretty easy for Bitcoin to hardfork to a new algorithm, and this wouldn't be a controversial hardfork.
time will tell. Over time, everything will change, you can not talk now, we do not know the technology of the future.
There are many years ahead to see quantum computers as home pcs. They will stay very experimental for long time I'm sure. So no problem for cryptocurrencies.
THEN WHAT'S THE POINT?
It is not the way you put it. We have quantum resistant cryptographic algorithms out there, already:
https://en.wikipedia.org/wiki/Post-quantum_cryptography
I'm specially a fan of this one:
http://ieeexplore.ieee.org/document/6337933/?reload=true
Quantum computing is too immature to be considered a threat for at least this decade and when it happens to be ready, we are ways ready. Just don't panic.
https://en.wikipedia.org/wiki/Post-quantum_cryptography
I'm specially a fan of this one:
http://ieeexplore.ieee.org/document/6337933/?reload=true
Quantum computing is too immature to be considered a threat for at least this decade and when it happens to be ready, we are ways ready. Just don't panic.
A very interesting topic here. These links are very useful and informative. Thanks
Quantum computing certainly is a threat to crypto, yes. However, crypto in general has the potential to be uncrackable even with the aid of Quantum computing, so I would say cryptocurrency overall will not be killed, but and individual currencies that fail to adapt will be.
quantum computers are reality long time ago already:
http://www.pcworld.com/article/3194574/hardware/china-adds-a-quantum-computer-to-high-performance-computing-arsenal.html
chinese have added quantum computers to their research pool
the thing is that at the current state of things, hashes will not be decoded on the fly (unless Snowden is right and ANB have backdoors in every crypto algorythm)
even with the help of the quantum computers,so no,bitcoin is/will be safe for at least another decade
http://www.pcworld.com/article/3194574/hardware/china-adds-a-quantum-computer-to-high-performance-computing-arsenal.html
chinese have added quantum computers to their research pool
the thing is that at the current state of things, hashes will not be decoded on the fly (unless Snowden is right and ANB have backdoors in every crypto algorythm)
even with the help of the quantum computers,so no,bitcoin is/will be safe for at least another decade
Funny you mention that the Chinese have developed quantum technology, I just came across this on Facebook from the financial times: https://www.facebook.com/financialtimes/posts/10155458818350750
Says China have successfully developed quantum communication. Will be deployed in August.
Maybe things move quicker than what people think
It would not be surprising if the military has been using quantum computing/communication for years now. They are usually ahead of ordinary citizen technology by 10-20 years. The Nazis, for example built UFO-like flying aircraft in the 1940's. If you don't believe me search on YouTube. I bet 99.999% of people did not think there was such technology back then. They thought we would have flying cars today, but they actually had them back then!
Good thought. Personally I think blockchains will be the way to go, since banks will probably lag in the update to quantum resistant security measures. Communities like these are faster at adopting such technologies.
I think by the time bad actors, who are usually amateurish have access to quantum computers, banks will have responded with appropriate security measures. With that said I agree that communities like these will adopt quantum resistant security measures first. On top of that, down with the banks! Embrace decentralization!
No, I do not think that quantum computing will kill cryptocurrency mining. In the very least, quantum computing is extremely expensive and is not something that is easily profitable. Each system currently costs around 10 million USD, and is not available to the average customer, provided you have the money to support what you wanted. However, quantum computing is still very much just developing and should not be considered as a possible threat for the next few years to come.
When will that be readily available to the public though? Probably not for a very, very long time. Plus think about the expenses!
It will not, as cryptos will move to new protocols that quantum computers cannot solve. Yes, quantum computers would speed up prime factorisation, but there are many mathematical problems that they will not improve upon compared to current computers.
I do not believe this hypothesis, I believe that Crypto will evolve with development too.
We'd probably get quantum miners ,and some of the protection people disscused earlier in the thread
I think, it is quite far for bitcoin owners to care about this quantum computing. The latter is in its embryonic stage. I wouldn't consider it a threat for like 4-5 years, really. 
So if the public key is unknown there is no way, ever to compromise a private key (without hacking, etc) ?
This has always been my understanding.
This has always been my understanding.
Not necessarily. There may be instances where the cryptographic primitives used in bitcoin are broken with quantum computing. But there are plenty of post-quantum cryptographic protocols being developed to secure the future if quantum computers continue to improve. There is also literature on e.g. quantum bitcoin protocol which implements these post-quantum crypto ideas to build quantum cryptocurrencies!
This is a great question and does need to be addressed by the community, although it won't be a reality until decades in the future.
In saying all that, along with all other replys here, quantum computers would have to be publically accessible for Bitcoin and other cryptos to be hacked. And I'm sure they'd be extremely expensive and possibly inaccessible to the public due to security issues.
In saying all that, along with all other replys here, quantum computers would have to be publically accessible for Bitcoin and other cryptos to be hacked. And I'm sure they'd be extremely expensive and possibly inaccessible to the public due to security issues.
It is too difficult for it to reach the community; it costs a great deal to implement this project, however, given the current situation of bitcoin, it is not strong enough to achieve that goal.
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