Topic: Would Quantum Computer Kill Bitcoin - page 2. (Read 552 times)

I don't think that's something to worry about, at least not right now. In the next 5 years, I think this threat will not be exactly. In the future, who can say that the same quantum computer will not be able to make the Bitcoin network more secure from the vulnerability of the Quantum computer.

Humanity currently does not have any technology necessary to create a quantum computer large enough to attack Bitcoin keys. It is not known how quickly this technology will advance; however, cryptography standards such as ECRYPT II tend to say that Bitcoin's 256-bit ECDSA keys are secure until at least 2030-2040. Blockchain companies: IBM, Google and a number of other technology giants are the current movers in developing quantum computing. It is likely that they will not enable users of quantum computing to crack bank-encryption or blockchain. “To do so is illegal and would destroy those companies, by 2025, up to 10 percent of the global gross domestic product will probably be stored in blockchains. Quantum computing is a threat to technology blockchain because it increases the fundamental security assumption of elliptical curve cryptography, namely that computers cannot effectively factor large numbers.

Here's what Bitcoin developer Pieter Wuille said a few months ago:


It sounds pretty grim. I didn't realize that P2PKH outputs weren't really secure against hypothetical quantum computing attacks. On top of that, the pubkey problem is really bad. Anyone who has shared an xpub, used Electrum, etc. has exposed pubkeys. It's not just early P2PK outputs or reused addresses.

First thing we should understand that nothing in the IT world is safe only , everything has some downsides , when we think about quantum computers and all they can definitely hack into blockchain and then make everything a mess but we should understand that
Hacking , is not legal like this.

When we talk about ethical hacking and all there no one teaches you how to hack in someone else's bank account.

You should understand that you shouldn't worry about new softwares being invented but rather worry about the old one getting updated .

As far as I know, quantum computer's processing power is increasing exponentially. Through that, its capability to decrypt password or keys from cryptocurrency with an algorithm is quite impossible. But in terms of security of the blockchain, I think it depends upon the hashes of every mining computer around the world. Not all people have their access since google's quantum computer is not open source. I still believe that bitcoin is still superior because of the blockchain. Output depends on the previous and the only way I can think for it to be manipulated is through going back in time.

I'm sure Satoshi was aware that computing power might improve over time and that cryptographic standards might become vulnerable. That possibility just wasn't worth burdening Bitcoin with something so unwieldy as Lamport signatures, which are much worse for scaling. He probably figured, "cross that bridge when we come to it."

If some crazy billionaire is spending a huge amount of money to destroy bitcoin, then it might be possible but what is the point of breaking something by spending huge amount of money. The fact is that the quantum computing is just a dream but technology is changing pretty fast and with those changes we will have better secure technologies too.

Suppose if anyone use those resources to break bitcoin then they can be prosecuted for theft.

If you are a cryptographer you must have known about this way before most "common folk" that recently panicked over this "news". I do not believe what they say that Satoshi did not know about this, i'm sure that was discussed back then, i certainly knew and i am no cryptographer or cypherpunk tho i did read their writings from time to time.

This was very theoretical as you say, and people were already writing programs that would run in these theoretical machines, years later there were even simulations with classic computers (which of course were way too slow but they were just testing concepts anyway).

Well this was years ago, and time didn't stop. If google didn't mention a thing (like IBM), did you think no advances were being made? I clearly remember when the first few qbit machines started becoming operational, but of course almost nobody knew what that meant...

But here, years later, you bring the exact same excuse. Its still theoretical, lets wait. Actually, the wait is over, the writing is on the wall. Panic is for fools, there is still time to act, but act you must, not sit still and wait the next decade to learn that, sure, some agencies already are decoding everything online.

There are proposed mitigations to improve Bitcoin resistance to quantum attack, those should be revisited, now that there is time, and not wait for later.

We are still too far from quantum crypto (hardware unavailable to the masses), but even that should be considered. This is the solution to quantum breaking crypto, this side most people don't know a thing about either. But in the meantime, those (classic computer) algos that make it hard for quantum attacks, should be implemented. Transition times indeed...

It is unlikely that quantum computing technology will fundamentally threaten the existence of bitcoin. Each year, when new hardware is released, appears a lot of concerns about the blockchain’s integrity, but there is actually no evidence that quantum computing can compromise blockchain. I don't believe it.

There is already a thread here in this same section which discusses about quantum computers not too long ago. There is no need to duplicate topics. But anyway, let me say my piece on this. This is more of a talk of the town for the past weeks or so. But then more of this talk does not actually exist in reality. More of this talk is only found in the imaginations of people who are mostly idle or fond of turning otherwise normal developments into a much more complicated one.

A quantum computer is an extremely expensive thing, which means that only corporate giants such as Microsoft, IBM, Google, Alibaba and others like them can own it.
Hackers will not be able to access resources for hacking such a computer, and moreover they will not be able to have at their disposal a whole quantum computer.

As per reading some articles concerning the Google's quantum computer, I think what they are pertaining to the specific quantum computer that 'reached the quantum supremacy' is the 72 qubits quantum computer. In my opinion, with that specific Technology, it is not possible to decrypt private keys, and password even though the computing power is too much. The reason behind is because google isn't allowing external users to use their quantum computer, and also, it is not open source in some point that, only certain program can run through it.

Theoretically possible, but I think that it's also possible to find a solution. Beyond that it's at the moment and in the nearly future very hard and expensive to get a quantum computer and besides that a quantum computer must be developed for the purpose of destroying bitcoin (to solve SHA256), with a normal quantum computer, you don't have the "instruments" to solve SHA256 you have to develop a special system for the quantum computer. In my opinion the effort is too big for most of the people. Furthermore, quantum computer's can also be used to attack other things like bitcoin nearly everything could be hacked, and there are some big banks for instance, which would be more profitable and easier to attack.

It would not be an easy ending for bitcoin. On theory, it could crack ones private keys. But researchers of blockchain security are aware of this and started their progress on developing quantum-proof cryptography. If thieves could have access to such computing power in the future, it's no wonder that security would also tighten up for bitcoin as they can also use it to develop more complex algorithms of encrypting private keys. As of now, those leaks mean nothing since we still doesn't see quantum computers in action.

I could say from my knowledge that this is a serious issue and there is no solution that would not harm BTC value. first, BTC upgrades, but the coins on lost addresses don't migrate to quantum resistant addresses and stay vulnerable. Eventually BTC might get hacked. That would cause a market reaction.
second, You create a deadline within people will need to move their BTC to QR addresses. After the deadline the leftovers will be burned. The problem is that in that scenario, you don't know which coins are on lost addresses and which coins are from people who have not migrated yet for whatever kind of reason. Not everybody is part of "the community", some just glance at the price every now and then and don't follow technical development. Investing in BTC doesn't obligate you to have a bitcointalk account. And there is no preset condition that obligates you to keep up with the developments. So developers would not have the right to burn your coins if you don't migrate in time. It's a legal issue inside BTC community.

First of all, let us clear that Quantum computers are still not yet invented they still trying to, for they believe it is the answer to fade away cryptocurrencies evolution as they want it to govern by someone. The clear intention and potential of the output if it is successfully invented is still not fully known.  

I have read in this website about how bitcoin's defense in quantum computer's possible problem.


Therefore, it is not be the end of bitcoin if quantum computer will be invented few years from now.

From the article that I went through it looks like a hard thing for quantum computer to kill bitcoin. Quantum Computer performs much faster than other computers that are highly powerful. Also in the article it is mentioned we're far away from breaking the bitcoin for various reasons.

Reference Link of the article : Could Google Be About To Break Bitcoin?

Not really possible, unless we are talking a super, super beefy computer if we are talking about brute forcing a BTC private key, which takes thousands of years with the best of today's hardware, BTC was made to be pretty future-proof with it's pretty hard to decipher private keys, but I guess in the next years we will see how safe it was made to be.

As for Quantum technology, even though we are moving pretty fast with technology and we've sorta been stuck in the computer industry for a long time, with the only really big breakthrough that could be made being Quantum tech, it's definelty a long way from being an actual thing, and I'm hoping we'll see changes that will help BTC survive when the time does eventually come.

It could. But that's it. It just could. Theoretically anyway. And even if that time could come, blockchain itself would have improved immensely and would have made precautions regarding quantum computers. Just like in the source you gave, Canada has already made baby steps towards the prevention of such thing from happening.
Also bro, this has made the forum quite a few times now, you should just probably look it up here and check some of the posts out. or i can just post it here, as such
https://bitcointalksearch.org/topic/quantum-computers-5188910
https://bitcointalksearch.org/topic/google-says-that-they-have-just-reached-quantum-supremacy-bitcoin-in-danger-5186831

In the otherway im hoping someone legit could solve sha256