Quantum computing bitcoin reddit Scientists from the University of Sussex in the UK have built quantum systems with 13 million qubits, which was sufficient enough to break the cryptographic algorithm (SHA-256) that secures the Bitcoin blockchain within the space of 24 hours. 6. Bitcoin will adjust the mining difficulty right on schedule and the network will just be that much more secure. It can only mean that you have read too many science fiction novels. TL;DR : A breakthrough in Quantum computers would undermine most encryption(All banking and national security would be in jeopardy) and with Bitcoin would simply weaken its security assumptions (not break Bitcoin's security) that can be fixed by switching Bitcoin to using Lamport or PCQ signatures Dec 10, 2024 · Quantum computers, if sufficiently advanced, could theoretically break blockchains by using algorithms to crack cryptographic keys, weaken hash functions, and dominate mining, enabling theft, double-spending, and network control; however, these risks remain theoretical for now, and the blockchain industry is actively developing quantum-resistant solutions. For most things quantum computers are nowhere near faster than regular computers. Algorithms in general will all have to be redesigned if quantum computing ever takes off. But in any case, if there at some point should be QC become available that are getting more energy efficient than ASIC, that will only mean another hash power increase similar to what we have seen from CPU -> GPU -> FPGA -> ASIC Business, Economics, and Finance. Most immediately, it'll break cryptography. Apr 25, 2023 · Quantum+Bitcoin is not about mining/hashing_blocks with quantum computers. 0 or centralized protocols it is easy for them to switch to post quantum algorithms and standards. The main issue with crypto is that the required number of retries and Grover iterations make it too slow to be relevant, and also that classical computers can parallelize this calculation really well, while quantum computers can't. At that time there would be an improvement to the Bitcoin security structure too. This happened long before the creation of Bitcoin Cash. Hi guys, Wanted to discuss with the community with how quantum computing will affect the bitcoin network, i suspect it won't be an issue, as im sure btc devs are working on it, but i seem to see a lot of articles, videos about something called 'Q day' the initial breakthrough in quantum computing, where a Q computer could actually break traditional government encryptions. Analogy: before gunpowder was a thing, castles and metal plate armour were the height of security. Is anyone worried that bitcoin will be hacked. a roll out of quantum computing is a massive game changer and the ENTIRE world will be rushing to adapt. Because of this, PGP (pretty good privacy) codes have not been cracked by any government agency. If we were to achieve it, we might not even recognize it. Users share their thoughts on how quantum computing could affect Bitcoin's security and value. Therefore even today unspent Bitcoin addresses are safe because the public keys are only broadcasted once an address spends for the first time. In theory at least. If you're currently researching, working to support, or studying quantum computing, this is the place for you. For example, even if quantum computers fall short of expectations we are using quantum inspired methods and hybrid algorithms to advance capabilities with lasers, distillers, refrigeration, custom ASICs, and other things that will be important unto themselves and important for creating better quantum, hybrid, and non-quantum computers, sensors I would start with quantum country, it's a great resource to learn from the very basics. Some argue that quantum computing could break Bitcoin's cryptography, while others suggest that quantum encryption could protect it. TL;DR : A breakthrough in Quantum computers would undermine most encryption(All banking and national security would be in jeopardy) and with Bitcoin would simply weaken its security assumptions (not break Bitcoin's security) that can be fixed by switching Bitcoin to using Lamport or PCQ signatures When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open crypto discussion. When this happens. It could act as a serious bounty to push the advancement of quantum computing as a whole. You don't have to understand quantum mechanics to begin messing with Qiskit, which has some quick and dirty introductions to the more advanced topics you'll be utilizing in quantum computing. The truth is that no one knows what the capabilities of the quantum computer will be, and when it is known, the appropriate measures will be The best excuse I've heard for a quantum computing attack. Here, we analyse three primary directions that quantum computers might have an impact in: mining, security, and forks. Once they developed quantum computers though (20 years ago), time became meaningless to them. tldr; The US National Security Agency (NSA) has said it doesn't know when or even if quantum computers will be able to exploit public key cryptography. To be fair, I did get to live during the time when a computer beat the world's best human chess player. I know that Quantum Computing is still at least decades out, but let's assume that we move into a Quantum Computing world over the next 20-30 years and we upgrade the security algorithms on the Bitcoin network to accommodate this change. I read an article that said we are only a couple… Quantum computing stocks are a group of companies that are involved in the development and commercialization of quantum computers. Thing is, if computers in the future get close to cracking that we can just adopt AES-512, doubling the size to 512 bits results in exponentially more time to crack it. You can search about it and learn all about the details. Assuming there's a fork to protect private keys from a quantum attack, how would anyone be able to get onto the fork without firstly losing security of their legacy private key (which IS susceptible to such an attack), subsequently allowing the attacker to also claim the forked coin? Posted by u/Jan_Ko_92 - 1 vote and 10 comments Even if they do and we see hash rate jump into the zettas, it won’t make a difference. Quantum computers can solve these kind of mathematical problems virtually instantaneously Therefore quantum computing could make traditional computing equations and security obsolete. I've also been waiting for practical nuclear fusion power plants, flying cars, and world peace. A quantum computer can work out the private key relatively quickly, in minutes or hours at most. Betting against hardware advancement is historically a bad choice. TL;DR : A breakthrough in Quantum computers would undermine most encryption(All banking and national security would be in jeopardy) and with Bitcoin would simply weaken its security assumptions (not break Bitcoin's security) that can be fixed by switching Bitcoin to using Lamport or PCQ signatures This is the thing, over and over again this sub has someone question the dilemma of “when quantum computing breaks encryption” for bitcoin and other cryptocurrencies. an attack through quantum computing. What's Bitcoins answer to this… Bitcoin will be the last target quantum computers would target because it has the best security/encryption. Quantum Computers is new onto the scene, similar to internet back in the early 90s where nobody understood it. Said something similar a few years ago when Quantum computers were the latest "hype" technology. can be updated to post-quantum cryptography (sometimes referred to as quantum-proof, quantum-safe or quantum-resistant) Breaking 2048-bit RSA, would take a quantum computer with 20 million qubits 8 hours. As such, it is more resistant to wild inflation and corrupt banks. Ethereum or Bitcoin gets quantum attacked once quantum computing scales a little more, (which it won't because if you have that power you would not waste it on a blockchain) it will fork to a lattice-based encryption model, until the next evolution. These courses are typically taught as a special topics level course in CS/Physics/Math. D-Wave has a strong focus on delivering practical, real-world applications with its quantum computers being used in various industries such as manufacturing, logistics, financial services, and life sciences. For context, those books are used in intro quantum computing courses. They’re a threat to encryption in general though, so whatever workarounds are used to protect information in the fiat system from quantum ought to work as a bitcoin fork too. In the future, this may be different. In fact, a recently published study suggests that quantum (or quantum) computers will be able to crack the Bitcoin network within 10 years. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. Google’s new quantum computing Nov 26, 2024 · With the potential for quantum computers to break traditional cryptographic algorithms, it’s becoming increasingly clear that we need to prioritize post-quantum security solutions. We can keep increasing the size for very little cost on the encryption/decryption times as computers get better and better. Believe me there will be anarchy worldwide due to nearly every single monetary / privacy encryption being compromised. We find that in the near-term the impact of quantum computers appear to be rather small for all three Using Grover's algorithm to mine bitcoin would require a universal quantum computer with ~256 logical qubits (i. I'm a newbie in computer science, and I just found out about Grover’s algorithm, which can only be implemented on a quantum computer. I don't pretend to understand how quantum computing works or even fully understand how the blockchain works. Bitcoin actually worries the least about it because people could just hack other things first. Quantum computers solve problems by setting up qubits into a superposition of states, then harnessing some known result in quantum mechanics to solve certain kinds of problems. That's not how Bitcoin mining works, and that is not the way that quantum computing threaten cryptography. Unlikely, but that's what superposition is. It's been mentioned, but there will be much greater concerns in the age of quantum technology than bitcoin. The pace is picking up on development of quantum cpus. One of the most significant potential impacts of quantum computing on cybersecurity is its ability to break some of the encryption algorithms that are commonly used today. A Quantum Computer works primarily using four key principles of Quantum Physics. Given how they excel at breaking certain kinds of public key encryption (which as far as I'm aware, bitcoin uses internally), how safe is bitcoin from malicious quantum computing attacks? How will quantum computing impact Bitcoin? Quantum computing will be able to crack private keys with no problem. The blockchain itself will see a goldrush of people using quantum computers to earn big amounts of bitcoin, and the price will probably tank for a while, until it is clear that it isn't Satoshi returning to cash in his bitcoin, but multiple different actors scavenging his coins. Hi r/Bitcoin ! I just read an article about quantum computing and how its development could threaten the security behind Bitcoin. I'm thinking about Bitcoin in the long run and how safe my investments are, etc and I have a question about the quantum computing vulnerability. Do we get rid of our BTC? Cryptography will be kind of useless. Questions is: how quantum computing can be used in our regular life being? It seems like a classic computer from 1960’s, when computer were too big and too expensive, so only corporate could afford it, but now it essential for every home. Also, cell phone technology took me by Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Classical computers have instruction sets that processes instructions iteratively until an algorithm has run to completion. Quantum Computers should be able to mine Bitcoin much faster than conventional computers, would Quantum Computers going commercial effect prices of Bitcoin? This thread is archived New comments cannot be posted and votes cannot be cast I always think with this one, there's two side of the story. What you're asking is if during the 100m sprint final a bear is introduced, would Usain Bolt have to be worried he'd get eaten. For example, many public-key encryption algorithms, su This might have been discussed before, and I am aware of the many complications involved in making this a real bitcoin weakness in the near to even long term, but I would like to hear your thoughts and knowledge on the matter if we consider the recent advancements in quantum computing made by Google, for example, and how this will eventually affect bitcoin, say in 25, 50 or even 100 years. Quantum computing has the potential to significantly impact cybersecurity, but it is unlikely to make it entirely obsolete. Current quantum computers can barely crack prime factorization problem for primes of 5 bits. I know that if one day the cryptography used in generating the keys of Bitcoin wallets were to come under some kind of attack, such as the emergence of a quantum computer capable of deriving the private key from the public key, the Bitcoin community could perform a fork and start using a new type of quantum-resistant cryptography. So those are still vulnerable to quantum computers. Quantum computing stocks are a group of companies that are involved in the development and commercialization of quantum computers. Prior to quantum computers, yes. 1M subscribers in the Bitcoin community. The Qiskit webpage is also a great resource to begin looking into quantum computing. Quantum computers will undoubtedly benefit society in many ways. After that point, they were simultaneously 20, 50, 250, and 50,000 years ahead, as well as 10,000 years behind, which neatly explains the “ancient aliens”. Hello, I would like to find out what is actually going on with the state of Supercomputing in 2024 and then 2025 first of all. Hypothetically speaking, if one day a quantum computer could be able to brute force through BIP-39 seed phrase, if one had an optional passphrase which they kept completely safe and offline, they’d be safe from that quantum computer correct? It's not just bitcoin, one of my undergraduate modules was in quantum computing and from what I understand it could pretty much end all currently known encryption, possibly with the exception of single use, long key, short messages. They examine the potential benefits and drawbacks of quantum computing for the cryptocurrency industry and provide insights into what the future of digital currencies might look like in a quantum computing-driven world. Thoughts, or better reasons why quantum computing isn't a realistic threat to bitcoin? Dec 29, 2024 · In short, quantum computing will certainly necessitate a change to bitcoin’s protocol within the next few years, similar to the computer upgrades triggered by Y2K. The quantum computers they claim to be functional are not really quantum. And we dont even know if a quantum computer could be tasked with cracking anything. Here comes the difference with Quantum Computing. I guess you don’t live in a town where that’s a problem. I am… Adding to alarm is that quantum computers double in their ability to calculate with every qubit. IBM unveiled its 127-qubit processor just last year, while a unit sporting 1,000 qubits is set to be completed by the end of 2023. Over the years /r/btc became community of historians & torchbearers, preservers of Satoshi's Bitcoin for future generations. Unlike… Even if quantum computers were developed enough for everyday use (they aren't and are extremely expensive), quantum computers can only do a few things faster than regular computers. Small towns house usually 1-2 large manufacturers (mainly running large machines for production if applicable, not all are this way), basic shops if any, and some satellite towns near me even have to pay someone like dollar general/family dollar to open a store there because Quantum computing isn’t yet an issue with Bitcoin yes ik. In a centralized database, you can just maybe put a DDOS barrier thus mitigating the number requests a quantum computer make to the centralized database. Also, the company expects to produce a quantum computer with more than 4,000 qubits by 2025. Despite my understanding of Bitcoin's technical aspects, I’m not a software developer or computer scientist capable of comprehending it‘s code. . May 29, 2022 · Fortunately, the ability to deploy quantum computers with so many qubits still seems many years away. If quantum computers can break code, then surely it can be used to generate superior code. See full list on cnet. The majority of people doing breakthrough research on quantum computing are from physics, chemistry, and computer science backgrounds. Assuming quantum computing doesn't jump in computation faster than expected. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. I have a very good grasp of the current landscape in these two fields and a fair grasp of what's going on in other technologies. Theoretically, yes, quantum computing could disrupt classical encryption. They will be able to process much more information and data more quickly than traditional computers, allowing for more complex graphics and more detailed games with more realistic environments and physics. Apr 22, 2024 · It is not accurate to think of quantum computers as "really fast computers" - they work in fundamentally different ways. In general, a quantum computer with n qubits can be in an arbitrary superposition of up to 2n different states simultaneously To build more powerful quantum computers, though is currently restrained by the quality of the qubit. This will be year 0 for the digital world. All… Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Since they have to reset their "quantum states" such as entanglement and superposition after each round, and since each round only have a low probability of providing the correct answer, we have a significant chance to create proof-of-work algorithms that quantum computers can't mine on for our entire lifetimes while regular computers can. we don't know if quantum computers will be able to do what they think they will be able to do Well we know for damn certain that quantum computers will be able to break current cryptography. In addition, humanity’s current physics can only propel rockets through the principle of conservation of momentum. When quantum computers are powerful enough to do so. Feb 8, 2022 · Here's what we know so far: Bitcoin transactions have a window during which they're vulnerable to quantum computers -- but not classical computers and definitely not people. It has long been questioned what the impact of quantum computing would be on Bitcoin, and cryptocurrencies in general. ), you might be better off just doing it classically unless it's part of a larger computation. Everything a classical computer can do, a quantum computer can also do. And that is just for bitcoin. If and when large-scale, practical quantum computers become available, they could potentially break the cryptographic algorithms used in Bitcoin. There are many problems that are plaguing the Quantum Computing (QC) such as gate errors, fault tolerance and measurement matrix; not to mention super cooling, materials to store qubits and the environmental impact of keep machines at low temperatures for long time. The applicability of shor's algorithm is already proven and only limited by the hardware. I've been waiting for practical quantum computers for decades. Everything is good for bitcoin, even quantum computing. These computers harness the principles of quantum mechanics to perform calculations that are impossible for traditional computers. Been buying to hodl with a 10 to 15 year time horizon. What happens to the "lost" Bitcoin addresses that have the older encryption? Jan 7, 2023 · Quantum computing has the power mine all 21m Bitcoin instantly making it worthless and centralized. Quantum Computing is a big threat to Blockchain technology, for normal web 2. The theory behind quantum computing allows for all possibilities of a complex task to be completed at the same time. Bitcoin uses algorithms like SHA-256 for mining and ECDSA for signatures, which might be vulnerable to quantum Nov 26, 2024 · A company called Quantum up 600% in five days because of the Quantum computing theme - the only issue is that it has nothing to do with Quantum computing. Quantum computers and bitcoin Current quantum information science (quantum computing, quantum communication, quantum sensing) has nothing to do with space travel or energy. Due to the network's cryptographic algorithm, it is practically impossible for traditional computers to break in. As quantum computing advances (adding more qubits) Bitcoin needs to improve its encryption aswel, which won’t be too hard, because quantum computer development is pretty slow moving Reply reply The problem is that quantum computers aren't just outright faster--they are a whole new way of computing. That was a happy-and-sad moment for me. *By using only one-time addresses, the quantum computer can never even have a shot at cracking the encryption key of the user. You won't find many good math free explanations because of the unintuitive nature of quantum mechanics. So we need a single quantum computer that has not only reached "quantum supremacy" but has exceeded it by a factor Aug 28, 2021 · Quantum computers are different from classical computers because unlike classical computers (our common understanding of what a computer is) which rely on bits, quantum computers use quantum bits, or qubits, to store data (these are also the reason quantum computers can do certain operations much faster than classical computers). I think it's fine to have satoshi's coins slowly get found in 50 btc chunks at a rate of once or twice a year. Increasing the signing key size by a factor of 2 in a context of quantum adversary makes little to no sense, saying that it would give you 50 years extra is just pure non-sense, double the key size would require double the amount of qbits, if we made it to roughly ~ 2000 qbits and 120 billion gates, it's safe to assume that the next goal of ~ 4000 qbits would not take 5 decades. Sep 11, 2024 · Bitcoin and the Threat of Quantum Computing. Quantum computers may break elliptic curve functions (With Shor's algorithm), but probably not hashing. I‘m concerned about the potential threat quantum computers pose to the Bitcoin network, especially in decrypting seed phrases. NIST is trying to standardize post-quantum crypto algorithms, but a lot more work has to be done. The bad news is that if quantum computers happen then it's over, and not just for bitcoin. Nothing against people who have done well with this stuff - and I've had a very good year. Advances in digital computers may one day lead to speeds that allow the breaking of ECC in heat-death time scales (using planet sized computers), but that is due to the nature of the crypographic schemes--they rely on the difficulty of solving certain mathematical problems, like the Feb 8, 2022 · Bitcoin's security system is considered ultra-secure against classical computers, which is why it offers a terrific way to gauge quantum computing power. tens to hundreds of thousands of physical qubits) and a hash rate which is competitively fast to classical computers. 1) Quantum computers cant crack SHA256 (so cold wallets will always be safe) 2) Every leading expert says that quantum computers are a minimum of 10 years away but probably 20 or 30. “We are concerned with a massive, poorly built prototype in a basement, which is all that’s needed to break current encryption and lead to the risks in crypto that I outlined,” Cheng said, concluding that, inevitably, “the entire crypto ecosystem Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. My counter arguments to the threat of quantum computing are as follows: Quantum computing means quantum security - Hacking and security is a constant cat and mouse game. That's your application. Bitcoin, the first and most widely recognized cryptocurrency, relies heavily on cryptographic algorithms like SHA-256 for mining and ECC (Elliptic Curve Cryptography) for securing transactions. Quantum computing will basically unify all P and NP problems for normal computers. A private key is a number between 1 and 2 256, aka 115 quattuorvigintillion, which is greater than the total number of atoms in the universe. IHMO, quantum computers are still a long way to go. Suppose your computer can be turned on or off at the same time. Posting academic questions, news, and resources is highly welcome. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. It requires 13 million qubits to break sha-256 (hashing algo in bitcoin) in one day, and currently, the functioning quantum computer with the highest qubit is Google sycamore with 53 qubits. But don't sell your coins just yet. Keep in mind, the encryption powering blockchains are the same as the entire internet. 5 Exaflops, but there are sites claiming in 2025 that some countries might have supercomputers that go anywhere from 5 to 300 Exaflops. One side doesn't make all the advancements, they build off each other. The issue when it comes to Blockchain technology is, If all of a sudden a quantum computer comes online that can mine the remaining bitcoin in two months, it would currently be worth about $80 billion dollars If the computer has cost $1 billion, that is a hell of a return. Realistically it'll take quite a few more years for them to get to the point of breaking hash encryption, since even with 5-6 times the current Qbit processing (Currently IBM's Osprey @ 433 QBits is the biggest Quantum computer) algos like SHA-256 are relatively safe (based on this paper anyways The authors study the impact of quantum computing on the future of digital currencies. It's very complex, but here's what you Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Is this anything to worry about. Theoretically, yes. Bitcoin uses SHA-256 hash function. Even if we had high-qubit quantum computers today that were able to do as many computations per second as a classical computer (in reality, they're expected to always under-perform classical computers in raw computations per second), it would be realistically impossible to break a single traditional bitcoin address. Dec 10, 2024 · Bitcoin uses algorithms like SHA-256 for mining and ECDSA for signatures, which might be vulnerable to quantum decryption. Quantum threats will not just be on Bitcoin either, bank accounts and personal information would probably be at risk too. Even my 3rd world universities have those. The caveat is that classical computers are just better (more performant) at certain kinds of operations -- if you want to do bitwise operations (AND, OR, NOT, etc. I’m… I know this is a bit far-fetched, but what do you think of the possible threat quantum computing may pose to bitcoin. An example of this is Schor's algorithm which leverages the fact there is a known quantum observation such that collapsing wave functions have an associated periodicity And if overall confidence dissolves in it driving value to 0, this entity has now wasted all of the resources building the quantum computers that would need to be repurposed to do something else to remain useful to the entity, otherwise it's, purely wasteful. I was wondering if anyone had any more information or thoughts on this subject, because michiu kaku tried to explain quantum computing to me and i still dont understand how a quantum computer can undermine the bitcoin protocol. This being said, post-quantum RSA is a field of research, therefore when we get to the point of gigantic quantum computers (or perfect large-scale quantum computers) we will probably have an encryption scheme which is robust against attacks performed with a quantum computer. In 2008, D-wave was the most stable quantum computer that had 12 qubits. Oct 16, 2023 · In fact, according to some estimates, the functional reality of a quantum computer cracking encrypted systems may only be five years away. Even quantum computers. I might be wrong and it would be interesting to hear all sides of this debate. Crypto Nov 15, 2023 · IBM plans to offer 433-qubit quantum systems in the near future and to unveil the world’s first universal quantum computer, with more than 1,000 qubits, this year. I'm finishing up a PhD on experimental quantum computing with trapped ions and am likely continuing to a postdoc on experimental quantum computing with neutral atoms. However, studies on the so-called post-quantum encryption are progressing in parallel with those related to quantum computing. The threat of quantum computing to Bitcoin's security is a long-term concern that requires ongoing research and development of quantum-resistant cryptographic algorithms to address this potential threat to Bitcoin's security. You're the one who don't understand shit here. Quantum computer can just try all of the combinations of seed phrases out there and find out wallets that has funds and begin transferring the funds out of those wallets. Do you guys think… A community for the academic discussion of quantum computing topics from hardware through algorithms. This has been bothering me for a while. There are many other coins to mine once bitcoin is done. So I wouldn't worry that much This is done using Grover's algorithm. Hello everyone! I see quantum computing technologies are rising and getting more affordable. com Dec 10, 2024 · Quantum computing does indeed pose significant threats to current security systems. "Even in the advent of a quantum apocalypse, where a powerful enough quantum computer suddenly pops up somewhere in the world, Bitcoin already has a mitigation mechanism. I think its faster for classical computers to compute hashes, if quantum computers are able to somehow compute hashes faster than classical computers or even decrypt the EAS algorithm then not only is bitcoin doomed but the whole modern encryption system will be doomed that means the CIA, the NSA, etc etc. Dec 29, 2024 · In short, quantum computing will certainly necessitate a change to bitcoin’s protocol within the next few years, similar to the computer upgrades triggered by Y2K. For the most part, the cryptographers behind Taproot (and Bitcoin Core) are of the opinion that quantum computers capable of cracking Bitcoin pubkeys are unlikely to appear within a decade or two. The thing with quantum computing is we don't even know how to test it. So no, quantum computers could not mine all of Bitcoin in a couple of seconds. In a FAQ titled 'Quantum Computing and Post-Quantum Cryptography', the agency said a quantum computer capable of attacking real world cryptographic systems is currently infeasible. I'm your guy. D-Wave went public on the New York Stock Exchange in 2022 and continues to be a key player in the advancement of practical quantum In theory, if a quantum computer can reverse Bitcoin cryptography, it will be able to do the same with almost any protocol in existence today. Someone with quantum computer can take ownership of satoshi-era UTXOs and dump them on the market. Bitcoin will adapt well before quantum computers truly become a threat and will eventually adapt new wallet key generation based off of a quantum-resistant algorithm. Quantum Computing Corp QUBT used to be Innovative Beverage Group Holdings not that long ago. *" My friend says that once AI and Quantum Computing become more prevalent in society Bitcoin will be useless and the value will fall massively. e. Bitcoin mining only requires hash functions, and I'm not aware of any quantum-algo or method to significantly speed that up. But even with this quantum speedup, breaking SHA-256 is still a really tough job for a quantum computer. When r/Bitcoin moderators began censoring content and banning users they disagreed with, r/btc became a community for free and open crypto discussion. In all top universities you can take quantum computer courses for years now. Yeah but I think that’s generalizing and oversimplifying. This is where projects like Qanplatform come into play. Quantum computers could break bitcoin’s cryptography and they are probably the most realistic threat to bitcoin. When it comes to quantum computers there is a Grover's algorithm that can work faster than regular computers in breaking security methods like SHA-256. Its about breaking private-public key algos used for signing transactions. Given the recent announcement from Oxford university, quantum computers seem like they could hit the market in the next couple of years. A community for the academic discussion of quantum computing topics from hardware through algorithms. A lot of people in the computer science and quantum computing industry seem to think we should have a new algorithm within the next couple of years. Quantum personal computers will have the potential to revolutionize the way we play video games. Current estimates indicate that, with the speed we expect from quantum computers in the short and medium term, quantum computers will not be able to significantly outperform classical computers at mining Bitcoin. I'm relatively new to bitcoin, roughly a couple of years. Also, Bitcoin is an evolving technology so it’s encryption. So I have read that there will be some new supercomputers built in 2024 that get to basically around 1 to 1. Quantum Computing: One of the commonly discussed threats is the potential impact of quantum computing. But recently I've been thinking about whether or not sha256 encryption will be able to withstand quantum computing. Special topics courses typically (not always) expect you have a strong foundation in that field. The best quantum computers in the world are light years away from this at the moment, both in number of qubits Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Supposedly it can achieve a quadratic speedup over a classical computer, brute-forcing a solution to a n-bit symmetric encryption key in 2^n/2 New research team has built a quantum machine with 13 million qubits that cracked Bitcoin encryption. Since addresses are generated by hashing from p tldr; Quantum computing could allow hackers to break Bitcoin's encryption. For a normal computer, it would solve problems by trying tasks 1 by 1 until it cracked the code. If you read the Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. This is required because, otherwise, it would be a threat not only to Bitcoin but pretty much for any encryption form on the Internet. These are Superposition - Quantum states can be in multiple states at once. btodv qeul ybdl ikgn ckpazgm kyoihhd fnzmbcs buecwn nwbw bmqchwxf