Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: BitcoinGirl.Club on March 06, 2024, 09:50:04 AM
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I just created the following topic on BCT and thought to have a discussion about it on this forum too. I was sleeping in peace last night but this morning I woke up with a worry.
They are working heavily in quantum computing from 2017. There is s race between China and USA to show who is bigger. So far China seems ahead in quantum computing.
tl;dr;
With quantum computing the current email security will break, anything even the banking sector that is secured by current encryption methods will be broken. USA is not issuing their cbdc yet because they are working on quantum computing proof encryption. Banks are will move to the new technology too.
Are we preparing to protect Bitcoin from quantum computing era?
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I am not a technical guy but I read someone posted something on other forums or articles I think like a question on whether super computers or quantum computing can break the security but based on the comments might be possible but it will took too long to break security of Bitcoin depending on how powerful the computing power of the said technology.
Quantum computing has the potential to impact cryptocurrency, with experts discussing its threat to the Bitcoin Network.
For Ramon Tayag, quantum computing is more of a threat to the banking system than Bitcoin.
While for Atty. Rafael Padilla, it will be a security threat to Bitcoin, but in the same manner that it will be a threat to all existing encryption technologies.
Considering the rapid technological advancements and innovations, the new system called quantum computing may have potential implications for cryptocurrency.
Source: https://bitpinas.com/feature/quantum-computing-bitcoin/
So the traditional way of banking system is more of an easy target to this rather than Bitcoin. That being said, it's not that really a threat right now but I know Bitcoin Core devs will also surely find ways to counter this threat in the future.
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I am not a technical guy but I read someone posted something on other forums or articles I think like a question on whether super computers or quantum computing can break the security but based on the comments might be possible but it will took too long to break security of Bitcoin depending on how powerful the computing power of the said technology.
Quantum computing has the potential to impact cryptocurrency, with experts discussing its threat to the Bitcoin Network.
For Ramon Tayag, quantum computing is more of a threat to the banking system than Bitcoin.
While for Atty. Rafael Padilla, it will be a security threat to Bitcoin, but in the same manner that it will be a threat to all existing encryption technologies.
Considering the rapid technological advancements and innovations, the new system called quantum computing may have potential implications for cryptocurrency.
Source: https://bitpinas.com/feature/quantum-computing-bitcoin/
So the traditional way of banking system is more of an easy target to this rather than Bitcoin. That being said, it's not that really a threat right now but I know Bitcoin Core devs will also surely find ways to counter this threat in the future.
There could be many reasons for the delay. On bitcointalk I had the same topic and some of us agree with it. But it still will create some insecurity. Bitcoin will become worthless as when someone will steal your bitcoin then there will be another one who will steal his bitcoin too.
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If the quantum computing project now looks more like a competition between these two countries, then we should understand that it offers far more than what artificial intelligence offers, and it's sponsored by those in authority.
I have come across several clips that propose what quantum computing can do. Truth be told, it's something to be scared of. I really don't know how secure Bitcoin is, but I think the security of Bitcoin should be beyond what natural human mentality and capability can tamper with, but I am not certain of quantum computing. Well, I would say that there shouldn't be any cause for much alarm.
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I just created the following topic on BCT and thought to have a discussion about it on this forum too. I was sleeping in peace last night but this morning I woke up with a worry.
Don't worry
It is naive to think that hardwares will evolve and cryptography won't.
Cryptography is math. Moore complex equations will be created and everything will be ok. Don't worry.
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Are we preparing to protect Bitcoin from quantum computing era?
Do you think these quantum computers will be able to break Bitcoin's security? I don't believe a quantum computer will be able able to break every encryption system that that existss now. I am not a guy with technical knowledge, so I don't understand how the hack will be able to break a programs security. Are they going to apply bruteforce to break it's security or what?
Even if it does, there will be more secured encryption and developers will work on that. There must be solution for that. So, I am not thinking about it for now until I hear something serious.
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I just created the following topic on BCT and thought to have a discussion about it on this forum too. I was sleeping in peace last night but this morning I woke up with a worry.
You raised a good point but an old one with less information about the work that has been done in the field of Quantum computing, there have been many types of Quantum computers already in working, you can check them here (https://thequantuminsider.com/2023/06/06/types-of-quantum-computers/). The point is, if this quantum computer really exists, which according to companies exists, then why did they not try to break these protocols and codes, why did they not decrypt the current encryption which has limitations? The point is, I don't think quantum computers can do that.
And Quantum computers are not the only reason behind the US not issuing CBDC, there are other political reasons, they don't want people to know where the funds are coming and going, they move funds in the wrong direction as you must be aware of what I am talking about. This topic has already been discussed on BTT many times and I replied on most of the topics, I suggest you to read this thread also. (https://bitcointalk.org/index.php?topic=5473075.msg63114737#msg63114737)