/biz/ - Business & Finance

>>15661626
t. doesn't understand how easy it is to change the hashing algorithm

>>15661626
Well that was fun, now what?

>>15661626
*teleports behind you*
*makes quantum resistant chain*
oops!

How many ports do they have nowadays? How many is needed to crack sha256?

>>15661626

>>15661626
If you think quantum computing will break btc, then you dont understand how it works

>>15661626
This is fake news. Quantum computing relies on a huge amount of variables and scalable probabilities. It's really good for certain things and absolute shit for others, so it might be great for a completely fucking useless execution, but not 10k the speed for practical computing.

>>15661790
More importantly doesn't understand how quantum computing works, really.

>>15661626
sure they did.

>>15661626
Ethereum platform is quantum resistant

>>15661845
>>15661790
You faggots are incredibly wrong.

>>15662553
News flash: nobody itt has any fucking clue about this shit, including you and me

>>15662553
Mining btc is more than just calculating an equation

>>15662565
I prefer to buy physical bitcoin for this reason, I’ve heard that quantum computers are very smart so I don’t want to take the chance of leaving my bitcoin on the blockchain. The premium kind of sucks but I like holding them in my hands.

>>15662606
Was funny without the last sentence.

>>15661626
> claims
so didn't really

>>15662585
its not about mining retard its about brute forcing your way into wallets

>>15662703
i'm pretty 99% of people don't realise this

>>15662703
If you are using a modern wallet, or even just a plain old Bitcoin address starting with a 1 or 3 that has not been reused, then your coins should be quantum-proof.

Quantum computers can allow them to compute the private key from a public key using Shor's algorithm, but it doesn't let them reverse hashes.

And a Bitcoin address is just a repeated hash of the public key.
The public key itself is not revealed until you either spend from the address, or sign using the address.

But before P2PKH (pay-to-pub-key-hash/legacy addresses), the old transactions were simply P2PK (pay-to-pub-key). These transactions have their public keys exposed, and did not use a hashed address yet.

There are large amounts of Bitcoin in these wallets... like Satoshi's 1m bitcoins, and many other old early adopter wallets that have been lost or forgotten. If these wallets are cracked, that could crash the price at least.

If Satoshi is alive and not living under a rock, this might be enough of a threat to make him move his coins, at least to hashed addresses.

>>15661749
it's expected by mid 2030s tough.

>>15661626
I don't care never selling

Just means we'll have to develop cheap one-time pad encryption. Blockchains can help with that.

>>15662834
Are all litecoin or monero quantum proofed for the time being?

or they suffer an hybrid status like btc with old wallets being exposed to quantum computers?

>>15662834
>Figure out how to get private key using quantum computing
>Short BTC like a motherfucker
>move 0.001 BTC from satoshi's address
>Algos crash the price from mass selling
>No one suspects a thing from you
>Walk away rich af with 0 enemies

>>15662834
>Quantum computers can allow them to compute the private key from a public key using Shor's algorithm
In theory. Current quantum computer science is quite a ways off being able to do that.

>>15663035
We don't even know satoshi addresses tough , only the genesis wallet.

>>15661626
Have sex

https://github.com/open-quantum-safe/liboqs

It means that private keys could be found quicker. If I understand right.

Veteran and Neo cyberpunks are working on new cryptography that quantum computers can't crack

>>15661626
wow it's LITERALLY FUCKING NOTHING YET AGAIN

We are safe

"A key distinction to make is between “qubits” and “logical qubits”, a complicating descriptor on an already nebulous concept. It has been estimated that a Quantum Computer would require at most 2330 qubits and 129 billion gates to crack Bitcoin’s secp256k1 elliptic curve implementation. As a reddit commenter aptly put it, in order to be intellectually honest we must concede that the 2330 qubits refer to ideal, fault-tolerant, logical qubits, whereas the 17 qubits achieved in 2017 by IBM’s quantum processor are raw, imperfect qubits which could be used to encode 7 logical qubits. Quantum error-correction of a single fault-tolerant qubit has not yet been achieved in experiments."

"As for how far away all this is: given the spectacular progress by Google and others over the last few years, my guess is that we’re at most a decade away from some small, special-purpose quantum computers (with ~50-200 qubits) that could be useful for quantum simulation. These are what the physicist John Preskill called “Noisy Intermediate Scale Quantum” (NISQ) computers in his excellent recent essay."

>>15661635
GL changing anything from BTC, blockstream won't let you.

Different type of computation retard. Doesn't mean Quantum computing can be used to tackle any computation problem it wants.

>newfags are back to old debunked fud from 2013
but yeah, we're not early adopters because some burger boomers bought buttcorns on coinbase and some roasties go to shitcoin conferences