/biz/ - Business & Finance

Pre quantum cumputer BTC will Terra Luna. Quantum BTC will just fork from pre Shor's algorithm.

>>58294044
at some point, bitcoin and ethereum will need to switch from ECDSA to a quantum safe signing algorithm. there are some candidates but the blockchain community will have to pick one. once the node software has been updated, EVERY wallet that has EVER been used to sign a transaction - or has simply broadcasted its public key for some other reason - will need to transfer its funds to a new wallet. any such wallet that fails to do this will be quantum insecure, because a quantum computer could discover the ECDSA private key using the public key. many wallets considered "dead" will be a suitable target for quantum mining. this includes satoshi's coins:
https://github.com/Crypt0hunter/Public-keys-for-Satoshi-Nakamoto-wallets

kek you niggas really believe in tranny quantum theory. I bet you believe in global warming and the vaxxies too non?

>>58294382
Yeah I'm pretty sure it's up there with all the other fake science bull shit. Space is fake. How many PHD astrophysicist nerds sound super smart except in reality it's all pseudoscience garbage.

>>58294417
I stood on my roof and proved the earth was flat to myself

>>58294044
QBTC will both exist and not exist simultaneously

>>58294428
They say we are flying AND spinning millions of mph through space, avoiding all space debris, the ground and sky doesn't even noticeably rotate or move so how the hell is that supposed to make any sense.

>>58294355
>mind wonders to treasure hunting race
>realize governments will've already cleared everything out

in fact, now that i think about it, that tech will be hidden and it will be used as covertly as possible to drain the maximum amount of revenue before the majority notices crypto is no longer safe. hell, that might even be happening as we speak.

>>58294382
>>58294417
So how does a computer work if science is fake?

Doesnt need to happen. The block chain uses xz for compression and nobody appears to be pushing out a change to the protocol (or is able to because nobody has 51%) so I guess we're just kind of silently waiting for an implosion here.

>>58294355
If that happens it would be pretty cool. I can envision governments, in this exact moment, mining the private keys. I just hope a hard fork fixes that for good before they do any damage.
Or it could happen as a fork, and we will have Bitcoin-quantum-safe and classic bitcoin in the future.>>58294355

>>58294417
>58294767
they sound smart using their made up words to explain abstract concepts that have no effect on everyday human lives. they are also WEAK NERDs who couldn't bench lmao1pl8

>>58294044
It's impossible to say what will specifically happen to bitcoin because all forms of secure storage online will fall from the same issue. Therefore you can't really estimate what it's replacement will be.

For example, storage information for inventory at a grocery store can no longer be trusted including the print-outs of expiry dates. This is a much bigger problem than simply: How do I pay for it.

>>58294767
the satoshi keys problem seems very tough to fix. the coins could be censored, but that's going to raise some serious questions about the inviolability of ownership on the chain.
>>58294831
a big difference is that your grocery store can easily switch to quantum safe key exchange, the same way cloudflare and the military have done. but you're right in that, much like how the blockchain community needs to solve this problem, the internet as a whole will need to change its practices. While increasing the bit size of RSA pairs will make them safer against shor's algorithm, that will naturally make them bigger and verification harder to compute, which makes the internet slower, and RSA pairs will naturally have to keep increasing in size as quantum computers become more powerful. and similar to the satoshi key problem, any internet traffic encrypted under outdated algorithms will become quantum vulnerable in the future, which means that anything sensitive that's been broadcast up until this point will eventually be decryptable. internet infrastructure will need to switch to quantum safe handshakes. we can see all of this coming well in advance, so in theory it should be possible to mitigate the damage

>>58294044
I sometimes stay up just thinking about this, the inevitable will surely come, and as of now we have no way to fight it.

Look up QANX

This is the solution

1000x moonshot quantum security project all must know

>>58295076
Forgive my double posting but I'm gonna say it 1 more time

QANX is a tiny little token with 1 euro country adopting it for its quantum resistance. It should 100x. It barely dipped the crash ffs. Can even swap into the shit with pancake

>>58294044

I believe cellframe is trying to solve this.

>>58295090
I have a large bag. It's an exciting investment because literally anything could happen. It could go top 5 if all the stars align.

>>58294044
it would take quite a bit of quantum power to disrupt the network, and the bitcoin community would not stand for a sustained attack like that

it would begin some sort of fork war, and it would be retardedly expensive to sustain. they're not going to be allowed to use them on the network, quanties are for science not finance

>>58296872
Peter Schiff would be proud of you.

>>58294355
it would be seen as theft, and all the criminals will be pushed in jail

all the guys get their money back