/biz/ - Business & Finance

D I V E R S I F Y

and you won't be

>>24893775
doesn't matter. you can just hardfork the state before the attack

>>24893775

>>24893775
Use your brain. Before they are capable of breaking your seed phrase, they will have been able to hack into most banks. The entire financial sector will be in meltdown; the last thing they will target is some poorfag's crypto wallet.

>>24893964
idk what that means

>>24893998
That is not the same. Breaking into millions of poorfags' wallets and stealing their btc has less ramifications.

>>24893775
>Anyone else scared quantum computers will hack your seed phrase?
no
lol
christ

>>24893775
memes aside, i don't understand what goes on in the mind of smoothbrains. they freak out about crypto whenever quantum computing is mentioned, despite quantum computing being a solved problem in crypto (fork, move to quantum resistant algorithm). and they don't worry about all the companies, hospitals, airports, local power infrastructure, water supply running on legacy systems with no clear upgrade path to anything quantum resistant

memes aside, i don't understand what goes on in the mind of smoothbrains. they freak out about crypto whenever quantum computing is mentioned, despite quantum computing being a solved problem in crypto (fork, move to quantum resistant algorithm). and they don't worry about all the companies, hospitals, airports, local power infrastructure, water supply running on legacy systems with no clear upgrade path to anything quantum resistant


memes aside, i don't understand what goes on in the mind of smoothbrains. they freak out about crypto whenever quantum computing is mentioned, despite quantum computing being a solved problem in crypto (fork, move to quantum resistant algorithm). and they don't worry about all the companies, hospitals, airports, local power infrastructure, water supply running on legacy systems with no clear upgrade path to anything quantum resistant


memes aside, i don't understand what goes on in the mind of smoothbrains. they freak out about crypto whenever quantum computing is mentioned, despite quantum computing being a solved problem in crypto (fork, move to quantum resistant algorithm). and they don't worry about all the companies, hospitals, airports, local power infrastructure, water supply running on legacy systems with no clear upgrade path to anything quantum resistant

>>24894395
>no
>lol
>christ
poorfag

>>24893775
The entire internet is secured by the same type of encryption.

There is no way quantum computers will suddenly crack the entire internet without an upgrade to the encryption.

>>24894472
this

you think people are gonna let all that value just evaporate? BTC is real and its never going away now, so people will protect their assets.

How? Think about it... if you can use quantum against me, why cant I use it to defend? I just turn my btc into quantum btc and boom shakalaka

>>24894368
You're a fucking idiot, has anyone ever told you that?

>>24894852
>You're a fucking idiot, has anyone ever told you that?
no

>>24894852
You're a fucking idiot, has anyone ever told you that?

Use haircomb, it's quantum proof.

Only government agencies, and maybe only the biggest private companies will have access to them first. Do they care about your 0.01, 1 or even 10 btc?

If they break the encryption they will have to do it in a very targeted way to destroy bitcoin

And besides, a hardfork will up the encyption first

Only government agencies, and maybe only the biggest private companies will have access to them first. Do they care about your 0.01, 1 or even 10 btc?

If they break the encryption they will have to do it in a very targeted way to destroy bitcoin

And besides, a hardfork will up the encyption first

>>24894935
good lad

My seed phrase is
>Nigger Faggot Retard Hitler Did Nothing Wrong Fuck Kikes Fuck Jannies Fuck Niggers Trump Won The Elections

>>24894472
If only it were that easy anon. KEK

They can have my seed, all over their face

quantum computing is a meme

>>24893775
they can't since I never sent anything from the address my coins are on. without a signature to work with, even quantum computers can't find the private key for an address.

>>24893775
BTC addresses are hashes of public keys
quantum computers can't reverse hashes
so long as you store your BTC in a wallet that you've never signed anything with, it can't be hacked by a quantum computer.
Eventually a hard fork will need to happen in which a new quantum resistant DSA will be implemented. After this fork you will be able to transfer your funds to a new quantum resistant address. Even if you don't transfer immediately, so long as you never signed anything, your coins will be safe. So even Satoshi's coins would be safe since they've never moved.
Also, we're not actually that close to a quantum computer that can break the ECDLP.

>>24895744
>so long as you store your BTC in a wallet that you've never signed anything with, it can't be hacked by a quantum computer.
https://decrypt.co/28560/quantum-computers-could-crack-bitcoins-encryption-by-2022

>>24895902
You still need a public key in order to find the private key
that's the entire point of what I wrote, this article glosses over that fact.
also changing the hashing algorithm is relatively trivial, so hash preimage attacks are also preventable.

>>24893775
If ever a time comes where cryptocurrencies can be easily hacked and rendered useless, the regular financial system will have already been hacked long before that. This isn't a real argument against crypto because you may as well say "no point in making any money now since it'll all be useless"

>>24895902
humans are terrible at predicting tech

>>24893775
Not a problem. If this comes, all btc will be frozen as they are. The adresses will be moved into a custodial register like a kataster.

>>24896077
>You still need a public key
You do not need a public key. If you lose a Trezor and buy a new one, you don not need to input your public key at all.
>t. done it

>>24897336
this has nothing to do with quantum computers cracking bitcoin encryption
>you need public key to do x
>no, you dont need public key to do y
but x and y are different things

>>24893775
no because i only have 800 dollars to my name. completely safe from economic downturn.

>>24897336
I'll assume this isn't bait
here's how that works:
trezor generates private keys from a root private key, the one that you enter in to recover your device, it always generates the same private keys from a particular root private key, this is called deterministic key generation.
it goes
root private key -> deterministic algorithm to generate private keys for each different crypto in your wallet -> generate public key from private key -> create address from hash of public key

The only thing that ends up on the blockchain when you send funds TO your wallet is the address, which is the hash of the public key.
So forward it looks like
>step 1: Create private key
>step 2: Generate public key from private key
>step 3: Generate address from hash of public key
An attacker only has access to the address, the hashed public key. A quantum computer could only break step 2, but it can't break step 3.
When you send something FROM your wallet it reveals the public key, so step 3 is mitigated and a quantum computer can reverse it. But you need to send something from the wallet first, hence why a wallet that has never signed a transaction can not be hacked by a quantum computer.