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.
Topic: Will quantum computing kill crypto? - page 3. (Read 9112 times)
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
I seconded that quantum is already a reality wayback before but its still on testing phase and i strongly believe it would still need more time to go in that era already. Hashes on some cryptos might be easily decoded but on bitcoin its still possible but would be a hard one. I dont know what would be the best added feature later on bitcoin when it comes to security but still its too early to mind up on these things. Just enjoy the stuffs as of now.
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.
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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
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
" Do you think we will see new quantum cryptos released once the technology is ready? Or do you think Bitcoin will adopt a new layer of quantum security if that is even possible"
The bolded would likely be the case. Been following the Quantum stuff for years now, looks like it is year 2030 technology, by then developers will most likely figure out how to keep things from being hacked or we will never have Crypto and Blockchain anymore.
By the way IBM may have developed some basic quantum computers/technology. They have been on the Quantum thing for years
The bolded would likely be the case. Been following the Quantum stuff for years now, looks like it is year 2030 technology, by then developers will most likely figure out how to keep things from being hacked or we will never have Crypto and Blockchain anymore.
By the way IBM may have developed some basic quantum computers/technology. They have been on the Quantum thing for years
Technology is always a matter of time. But only if you remove money as one precondition. So, with the assumption of unlimited financial means, all technology is possible. But yes, Bitcoin is not stagnant. It is its nature to respond and adapt. It is not invincible. It is always vulnerable. But Bitcoin is moving, just as tech is.
Bitcoin is programmable code and the developers has worked on fail safe replacements for current algorithms, if processing power catch up with the encryption techniques. SHA-2: A family of two similar hash functions, with different block sizes, known as SHA-256 and SHA-512. They differ in the word size; SHA-256 uses 32-bit words where SHA-512 uses 64-bit words. There are also truncated versions of each standard, known as SHA-224, SHA-384, SHA-512/224 and SHA-512/256.
Currently the most vetted hashing algorithm providing most security is bcrypt. < not sure if it is suitable for Bitcoin > ^hmmmmmm^
Currently the most vetted hashing algorithm providing most security is bcrypt. < not sure if it is suitable for Bitcoin > ^hmmmmmm^
Some people are saying it will. It is actually quite scary. And imagine just how fast a quantum computer could mine Bitcoins... 
If the technology changes and if you are keep with the age old technology then it is possible,that wont be the case with crypto currency because the people behind these projects are smart people and they will be changing things when there is an upgrade in technology.After all quantum computing is a thing of the future but progress is made every day in this field as i saw a post regarding measuring of electrons in the quantum dot is possible now and with all these developments it will take a long time to become reality but with these advancements we will improve from the current standards. Even if it is successful, it will not be used here. It should be applied to military and scientific fields first 
If one individual person could afford quantum computer he can do whatever he wants. I am not very technical person and don't know much about computers but i think it is not very hard to raise computing power which is needed to solve something. Let's say you have to guess 4 digit password it is done in no time, but 8 digit password is much harder to guess with brute force.
Even if it is successful, it will not be used here. It should be applied to military and scientific fields first
I mean it effectivly makes encryption useless, someone with a quantum computer could just brute force a private key from a public key in no time. This will kill every crypto currently out there.
This isn't correct. It will make Public Key Encryption (as we know it today) useless, but it doesn't break encryption writlarge. Crypto will have to adapt, but it will...just a matter of time
To me the quantum technology world is developing so to is the cryptographic world. The truth is if quantum becomes a reality and meets cryptography at it's current stage then cryptography will be dumped for a period of time until it catches up... Well nothing is impossible but to think that a fiction will one day come to reality and beat an already existing system is some worth out of the box. But we should not also forget that the very technology of quantum computing can also be used to to enhance cryptography because there are many cryptographic algorithms out there that will function amazingly well on quantum systems.
So there is nothing to fear about because both systems are developing and quantum systems can be used to enhanced cryptography last but not the least, there are already majors out there that are designed to combat such a situation ...
https://en.wikipedia.org/wiki/Post-quantum_cryptography
So there is nothing to fear about because both systems are developing and quantum systems can be used to enhanced cryptography last but not the least, there are already majors out there that are designed to combat such a situation ...
https://en.wikipedia.org/wiki/Post-quantum_cryptography
copy/paste from a trading thread I wrote in a couple days ago:
https://www.sciencenews.org/article/quantum-computers-are-about-get-real
TL;DR: 50 qubit quantum computer available commercially within a few years.
Small versions (5 qubits) available to public via web access already.
16 qubit version available to beta test now.
These are real quantum computers too - not just quantum annealing thingies like D-Wave sells.
https://www.sciencenews.org/article/quantum-computers-are-about-get-real
TL;DR: 50 qubit quantum computer available commercially within a few years.
Small versions (5 qubits) available to public via web access already.
16 qubit version available to beta test now.
These are real quantum computers too - not just quantum annealing thingies like D-Wave sells.
Doesn't www.theqrl.com The Quantum Ledger solve this problem and offer a store of value that is quantum resistant? Couldn't Bitcoin integrate elements of this project?
It could either kill crypto, or provide a massive boost to it. Imagine how powerful the miners will be. It will be like back in 2009. lol!
Some people are saying it will. It is actually quite scary. And imagine just how fast a quantum computer could mine Bitcoins...
Bitcoin will remain safe regardless of how powerful quantum computers are. Bitcoin’s encryption protocol will likely remain safe. Bitcoin’s underlying encryption protocol, SHA-256, is stubbornly resistant to nefarious attempts to undermine it. It is likely strong enough to withstand assaults from even the most savage quantum computer onslaught.
Moreover, Quantum computers are not much capable of solving cryptography. They are not that powerful of solving difficult problems. Hence, Bitcoin is safe.
Moreover, Quantum computers are not much capable of solving cryptography. They are not that powerful of solving difficult problems. Hence, Bitcoin is safe.
@Droplex
I understand you are new here but yet ....
Why do you just copy/pasted my post above? You can use Quote button on any post to just have it all copied in your reply and tagged properly, then you can add your comments like saying: "I strongly support this opinion"or "I don't get it" or .... Instead, you just copied my post's text simply, violating my copy left
I understand you are new here but yet ....
Why do you just copy/pasted my post above? You can use Quote button on any post to just have it all copied in your reply and tagged properly, then you can add your comments like saying: "I strongly support this opinion"or "I don't get it" or .... Instead, you just copied my post's text simply, violating my copy left
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