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/biz/ - Business & Finance

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10330024 No.10330024 [Reply] [Original]

What will happen with our funny internet money when quantum computing becomes a thing?

>> No.10330047
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10330047

I guess it depends how its deployed. From my understanding we have the power to use quantum computing on a commercial scale - for rent.
Dont think we will see private use...

>> No.10330239

>>10330047
yeah but what if the bad boys get access to the quantum computer?

>> No.10330255

First it would kill crypto as we know it.
However, as technology improved and average people gained access to quantum tech, it will become possible to create a new cryptocurrency based on quantum computing. Call it Quantum Cryptocurrency. Not only will that bring us back to where we are, but it would likely cause another huge bull run in the process.

>> No.10330266

>>10330239
Depending on your view this will be most likely the case. So I'd say you just invest in qunatum resistant shit which will be developed by then.

>> No.10330273

hardfork to sha256060696868696060606

>> No.10330283

Only Cardano will be worth anything, as it's being built to be quatuum proof.

>> No.10330285

>>10330266
>you just invest in qunatum resistant shit which will be developed by then
those already exist. The algorithm for quantum discrete prime factorization is known since the 70s

>> No.10330289

>>10330024
kek it'll be done before that

shitcoins are LITERAL MEMES and all will be worth nothing after the crash in 3 months

>> No.10330301

>>10330285
Even better, so no problemo

>> No.10330308

as of a few months after launching btc has been qc resistant already

>> No.10330313

>>10330301
The biggest problem is that publically run ledgers can't just upgrade to a new algorithm. You have to fork a completely new network.

That's basically it. Oh yeah and quantum resistant ciphers have much larger keys than the ones we use these days, so there's some performance hit.

>> No.10330319

They would make them quantum resistant... Never change biz

>> No.10330324

>>10330024
Bch is already quantum resistent. You'd need to spend a few billion dollars on qiantum computers and power to crack one to three address in a year.

>> No.10330332

>>10330313
entirely false. bitcoin can simply use one of its many unused opcodes in a soft fork

>> No.10330339

>>10330024
Couldn't you just make keys longer?

>> No.10330345

>>10330324
nothing special about bch, all bitcoin forks and clones are qc resistant by satoshi's initial design.

>> No.10330346

>>10330332
the issue is in the public/private key encryption. How the fuck is an opcode going to solve that?

That's like saying the statement in my letter will fix a transparent envelope.
>brainlets on this board

>> No.10330351

>>10330024
Satoshi will comeback create a fork with new algorithm or sth, maybe he already creating it right now.

>> No.10330353

>>10330339
No, that's not how you make shit quantum-resistant.
If you want to know how it's actually done, start reading:
https://en.wikipedia.org/wiki/Post-quantum_cryptography

>> No.10330395
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10330395

Can someone explain to me in brainlet terms quantum resistance?

>> No.10330400

>>10330339
Quantum computers dont give a crap about length of keys.

>> No.10330402

>>10330395
Computers can't split large numbers into their prime factors efficiently but quantum computers can.

That's why algorithms that rely on this particular problem for security are not quantum resistant (and vice versa)

>> No.10330413

>>10330024
Game over to be honest

>> No.10330441

>>10330024
My funny internet money will moon hard as I am 85% in quantum resistant IOTA.