Love your content, every single circle I'm in, in the crypto world, continuously references your work, it the most positive and respectful way. Thank you Andreas!
Quantum computing would not only affect Bitcoin/Crytpo, it will ALSO destroy the current Banking/Credit/Financial system a lot easier. Nobodies money will be safe in the current financial/banking/credit system with quantum computing, at least with Bitcoin there are different layers of security that we can switch to to protect our money.
Good answer, this break the false security and stability fiat money appears to have. But can you explain, in practical terms, how exactly will banking/"real" money be affected?
2:45-3:31 "You can change the algorithms of all the active wallets, but some wallets have lost keys or the people who had those keys died and they can't change the signing algorithm which means those wallets will be captured by quantum computers. So we will know what quantum computers exist when satoshi's coins move... That's one of the reasons why they will move. Eventually they will move and they will move because eventually someone will be able to break the keys. But for the rest of the eco system we can migrate quite easily to another algorithm. It's not really as big of a threat that people think it is."
Man I can't even begin to imagine how this Technologies going to evolve over the years decades and centuries 🤔. My great great great grandchildren are going to be living in a world I can't even comprehend right now. Lol
Intelligent life by then won’t even be carbon, it’ll be silicon. AGI (and subsequent ASI) systems will take over and humans will either merge or get left behind.
1:27 The Enigma was broken in 1932/33 in Poland (by a guy named Marian Rejewski) and yes, the Poles _did_ keep it secret until July 1939 when they invited the French and the British and told them the whole theory and methods. It even included the "bomb" machine, later improved by the Bletchley Park people and Alan Turing there. Strangely enough, Rejewski was never invited to work at Bletchley Park despite him being in London at the time. A borderline criminal neglect, if you ask me: the guy who broke the Enigma is _right there_ and is _not_ asked to participate in a major lifes-saving war effort. Astonishing.
Satoshi's bitcoins are on addresses that coincide with their public key, because it was an early version of the protocol and addresses were not compressed. So they will be targeted by quantum computers at some point
Thank you very much für the explanation. Since there is a big acceleration in Quantum computer development many people say that Q-day is much closer than we think. What do you think about it?
Thanks for the interesting video. What about the other side of the (bit)coin? The miners. Once there will be, say, 20-50 powerful quantum computers out there - some may be used to mine Bitcoin with a fraction of the energy and time required to mine using the current technology. Wouldn't these "quantum players" take over the entire Bitcoin mining "industry"?
QCs could take over mining if they can compute the nonce faster than usual. Although I do not think it would matter. The difficulty rate adjusts to counter higher processing speeds (as long as there is enough inbuilt precision to adjust the nonce enough). Hence it would still adjust back to a 20 minute confirmation period again. It's the mathematics that is the real security in the blockchain, since the truth of the maths doesn't lie (1+1=2 but never 3). Even if a QC intentionally fakes bad mathematics, then validation with the other nodes will reject it - large node numbers involved in validation is the second level of security. BTW, the mining difficulty rate is really to legitimize intrinsic value into Bitcoin, and hence prevent it being classed as a security (purposefully added for that reason). As for the cheaper electricity costs for QCs, then yes that could cause a lowering of Bitcoin's intrinsic value (i.e. the cost to mine), but if it remains a secure mode of financial transfer and storage then it will unlikely affect the market value of Bitcoin (which is typically higher than its intrinsic value). But reality is that QCs cost too much, so are not owned by private individuals, so would not be used to mine in the next couple of decades just to gain an advantage over a single block reward every 20 minutes.
At some point, the consensus algorithm for bitcoin will have to change to adapt to quantum computing. When that happens, all the "dead" wallets will be found out because they won't updateto the new consensus algorithm and the quantum computers will solve their out-of-date encryption.
Hallo, Great content. I know the topic is old, but I have a question. what if you only have one ledger nano and want to send bitcoins but not all of them. Theoretically the leftover bitcoins on ledger are at risk according to your statement, right ? I know that ledger uses xpub. ledger work with master private key and master public key and generates from it the 100s of addresses that belong to one account. As I understand it, this means that every time a ledger is to receive bitcoins, a new address is generated (for privacy purpose) , which can theoretically be assigned to the xpub. If I have understood this correctly, does this mean that there is actually only one master public address and Master private key? Theoretically, all coins would then no longer be quantum safe after an outflow of coins to another address. If so, what about the creation of a new bitcoin account on the same ledger nano ? Is a new public address and private key created there ? Or have I misunderstood, because it is always the same master public address and Master private key. It is possible that I have mixed up something. I would be grateful for clarification.
So let's say they don't hack the Bitcoin.. but the q computer has a great amount of processing power... So let's say I have a quantum computer.. and I mine Bitcoin... What do you believe will happen to the price of Bitcoin???
Quantum computing is in fairly advanced stages. We are looking at somewhere around 2025 to have a major breakthrough (going commercial). We are not that far away. Remember when plasma TVs cost $20K for a 30” screen? You can now buy 55” for less than $1K It happens with every single technology
Adjustments to the monetary system is not small fish to the NSA. I don't work for the NSA, but to say something like that is a bit off, or to sure of yourself and making the classic smart person mistake.
Hey Andreas, Would there be a dapplication towards Bitcoin's network on distributed scaling toward the quantum realm?? An example, nonce iteration parsed in to seven separate realms each with divergent scaling methods
I am correct that Andreas is wrong here? The satoshi coins are stored in old non-hashed address p2pk and not hashed p2pkh, therefore his coins are vulnerable to Quantum computing attacks?
You are exactly correct here, yes. All unhashed p2pk coins are at risk. Everything else will be at risk upon signature broadcast when a sufficiently powerful QC exists
Does this also apply for ethereum? so if you spend some eth would there be a digital signature left on the blockchain that could eventually be cracked ?
6:11 This is not correct. Satoshi's early mining coinbase transactions were P2PK scripts, so even in the genesis block his pubkey is revealed in the locking script. Satoshi also did send 10 BTC to Hal in Block 170, which revealed Hal's public keys in locking script (as also P2PK).
Wait that’s not true, he just said the am of Qbits you’d need to break a wallet encryption is out of reach when literally it’s not and the processing power scales up exponentially when you add 1 more Qbit each time. So that was a wrong representation of the realistic tech capabilities.
Then he says in the case of a breach by Q computer you can all just migrate to another algorithm... lol complete under estimation that’ll be cracked too... no trust in btc
love your expertise andrea. Just a thought; wouldn't a quantum computer be used to mine bitcoins instead to get the reward from the bitcoin network, thereby reinforcing the security of the network and then the same game theory would apply as it is now with asics? I think that when quantum computing is available, it will only make bitcoin stronger (hashrate speaking); due to the same economic incentives playing out now.
Another angle would be to create a quantum crypto algorithm using another quantum computer. Then they’d have to reinvent the computer AGAIN, but even if they did we could just leap frog onto the latest computer at that time for as long as we want.
Poles broke it initially, but just before the war the Germans changed the existing rotors and introduced more of them. The British, building on the Polish work, then broke it again and developed additional techniques in doing so.
about bitcoin and other blockchains: this ECDSA is the protocol that turns the private key into public keys, right? isn't it just a matter of changing the protocol to one quantum resistant? it really feels like just adding some layers of equations which are generated in a decentralized fashion (meaning that no one knows all the equations that can be used and in which order they will be used to encrypt both the keys and the hashs). one thing i still couldn't figure out by now but have a clue on this: the encryption of the private key confirming that the public key used to transfer any money happens online? ok, only the public keys go public, but where the "signature", the "yes, this public key was generated here by my private key using my cryptography" happens? is it locally? i guess from what you said that no: if the quantum mofo can break into the SHA256 he would still have to get that public key and break the ECDSA aswell - so it means that the private key confirms that it is sending X to Z locally and then this message goes online. COOL, but then there's another problem: wouldn't it be easier for a hacker to hack this confirmation and not the encryption itself? understanding what makes the wallets say "yes, this public key belongs to me here" and emulating it?
Most (all?) of Satoshi's coins are in P2PK addresses, not P2PKH, so his coins are immediately vulnerable to a quantum computer which can reverse ECDSA.
If quantum computers can break Bitcoin encryption, say goodbye to your bank account as well. Bitcoin can also hard fork to incorporate quantum resistant algorithms.
@@joostvw3692 Packets being transmitted through the internet can be intercepted and then those packets can be decrypted using the quantum computers to reveal details such as usernames, passwords etc, that can be used to gain access to online banking accounts and access the money. So if encryption breaks, everything digital essentially breaks. This can be mitigated using quantum resistant algorithms for encryption, Bitcoin can also fork to incorporate quantum resistant cryptography.
@@Vt12365 Yes but still there is a bank that stands for your money. They are the keepers of your money. If there "vault" is breached you will get your money back. With BTC there is nobody to protect your loss.
@@joostvw3692 There is no vault all the money is digital, stored in a database. Technically yes, they can print more digital dollars and put it in your account, but what would be the point of that, what would be the point of money at all, if more can be printed at will? Do you want to be the keeper of your own vault or entrust your money to a third party and increase their power?
3:57 “They can’t change the signing algorithm” Why does he say this? Can’t you just change the protocol to only allow quantum-resistant signatures???? Yeah?
now about quantum computing: people seem to worry about it breaking into old blocks/hashs/wallets... what about confirming new ones? what about confirming fake ones? if there are 6 quantum computers working for a hacker, probably they would be basically mining most transactions, so they would have the hash numbers, blocks etc. i'm not sure how the nonces/new hash creations happen, which seem to be the missing piece here but, wouldn't they have enough data to fake a transaction and to confirm it by themselves? let's say: Q1 just mined a transaction where X received 1 BTC. he then fakes a transaction where X sends him the 1 BTC and his 6 quantum computers will probably be the fastest ones to solve for the nonce of it and then, confirm the fake transaction. if the miners assigned to mine a transaction are more random than that - how they are randomized in the safest cryptos?
IBM planning on having 1,000 functional qubits by the end of 2022 - error correction now over 99% - it is becoming very very close. and don't think for a second a state actor like China wouldn't love to crash Bitcoin.
Late at night dreaming about Bitcoin trying to think of any potential threats that could kill Bitcoin. Then Google the potential threat, and Andres is there to help you breathe again.
Imagine.. We are already close to an AI that could do thousands of years work in a week or two. At the moment we see gov researched non weapons to the public released years later.. Things are gonna get weird when we hit a certain point
In the near future, quantum computers will be able to crack all binary based cryptology algorithims easly beacuse of its design. Nature and universe is working based on quantum mechanics, and nature is very complex situation which is existing computers will never be simulate it one on one. Quantum copmuters will be able to simulate the nature and the universe closely. I mean that all cryptology systems have to be change based on quantum mechanics. I dont know how the quantum cryptology look like for now but we will see it.
Not in the least. At least some Eth devs have discussed a Quantum Disaster Recovery Plan, however. ethresear.ch/t/quantum-disaster-recovery/4042. At this point, Quantum Resistant Ledger (QRL) is the only active blockchain project using a standards-based, peer-reviewed Post Quantum cryptography scheme (XMSS/WOTS), but there will likely be others in the coming years. I suspect BTC will upgrade when NSA tells banks and other critical infrastructure to upgrade, but the lost/inactive addresses are an issue, they will have to be "burned/rejected" by core devs with a hard migration deadline, or just left open to Quantum Attackers.
lol, quantum computing is brute force processing power. We are talking about speed. I dont really care how good the encryption is, everything is just a matter of time. The point of quantum computing is, shortening that time.
You are living legend, man. Respect.
Love your content, every single circle I'm in, in the crypto world, continuously references your work, it the most positive and respectful way. Thank you Andreas!
So quantum computing is a threat to Bitcoin
Ur coming straight from the google quantum supremacy vod ¯\_(ツ)_/¯
But at what cost...
Not only Bitcoin.
Not really, cause building a resistence to QCs is easier than building newer and better quantum computers.
The world and it's effect on bitcoin will not be yoir main concern.
Quantum computing would not only affect Bitcoin/Crytpo, it will ALSO destroy the current Banking/Credit/Financial system a lot easier.
Nobodies money will be safe in the current financial/banking/credit system with quantum computing, at least with Bitcoin there are different layers of security that we can switch to to protect our money.
trey trey Very good points.
Good answer, this break the false security and stability fiat money appears to have. But can you explain, in practical terms, how exactly will banking/"real" money be affected?
+ Any SSH or RSA protocol
This is actually a good point, I never thought about that. Then maybe quantum computing will actually revolutionize block chain currencies.
Gold is always safe
2:45-3:31 "You can change the algorithms of all the active wallets, but some wallets have lost keys or the people who had those keys died and they can't change the signing algorithm which means those wallets will be captured by quantum computers. So we will know what quantum computers exist when satoshi's coins move... That's one of the reasons why they will move. Eventually they will move and they will move because eventually someone will be able to break the keys. But for the rest of the eco system we can migrate quite easily to another algorithm. It's not really as big of a threat that people think it is."
Ionq got a 32 Qbits quantum computer running.
The game changers are being build. Get ready for the new game.
Man I can't even begin to imagine how this Technologies going to evolve over the years decades and centuries 🤔. My great great great grandchildren are going to be living in a world I can't even comprehend right now. Lol
Hey, your younger brother and sister, "are going to be living in a world (you) can't even comprehend right now. Lol"
It's the same if we would go back let's say 2000 years ago and bring out our smartphones. Same principles.
@@Emperos I agree.
Intelligent life by then won’t even be carbon, it’ll be silicon. AGI (and subsequent ASI) systems will take over and humans will either merge or get left behind.
Imagine AI + quantum computing + robotics. This sentance would have sounded far fetched just 2 years ago, the reality is getting closed every year
it's hard to watch Andreas without having tears coming out of our eyes
:'=)
1:27 The Enigma was broken in 1932/33 in Poland (by a guy named Marian Rejewski) and yes, the Poles _did_ keep it secret until July 1939 when they invited the French and the British and told them the whole theory and methods. It even included the "bomb" machine, later improved by the Bletchley Park people and Alan Turing there. Strangely enough, Rejewski was never invited to work at Bletchley Park despite him being in London at the time. A borderline criminal neglect, if you ask me: the guy who broke the Enigma is _right there_ and is _not_ asked to participate in a major lifes-saving war effort. Astonishing.
Satoshi's bitcoins are on addresses that coincide with their public key, because it was an early version of the protocol and addresses were not compressed. So they will be targeted by quantum computers at some point
Thank you very much für the explanation. Since there is a big acceleration in Quantum computer development many people say that Q-day is much closer than we think. What do you think about it?
Watching 5 years on, none foreseeable future is now around the corner. Do we need to start worrying? 🤔
Thanks for the interesting video.
What about the other side of the (bit)coin? The miners.
Once there will be, say, 20-50 powerful quantum computers out there - some may be used to mine Bitcoin with a fraction of the energy and time required to mine using the current technology. Wouldn't these "quantum players" take over the entire Bitcoin mining "industry"?
QCs could take over mining if they can compute the nonce faster than usual. Although I do not think it would matter. The difficulty rate adjusts to counter higher processing speeds (as long as there is enough inbuilt precision to adjust the nonce enough). Hence it would still adjust back to a 20 minute confirmation period again. It's the mathematics that is the real security in the blockchain, since the truth of the maths doesn't lie (1+1=2 but never 3). Even if a QC intentionally fakes bad mathematics, then validation with the other nodes will reject it - large node numbers involved in validation is the second level of security. BTW, the mining difficulty rate is really to legitimize intrinsic value into Bitcoin, and hence prevent it being classed as a security (purposefully added for that reason). As for the cheaper electricity costs for QCs, then yes that could cause a lowering of Bitcoin's intrinsic value (i.e. the cost to mine), but if it remains a secure mode of financial transfer and storage then it will unlikely affect the market value of Bitcoin (which is typically higher than its intrinsic value). But reality is that QCs cost too much, so are not owned by private individuals, so would not be used to mine in the next couple of decades just to gain an advantage over a single block reward every 20 minutes.
At some point, the consensus algorithm for bitcoin will have to change to adapt to quantum computing. When that happens, all the "dead" wallets will be found out because they won't updateto the new consensus algorithm and the quantum computers will solve their out-of-date encryption.
So interesting! thanks for sharing your knowledge with all of us Andreas :)
Amazing and smooth explanation as always keep up!!
Wow! Interesting quantum future ahead of us.
You personally have lost keys?? 😕 That is so sad to hear 😒 all the best to you, man.
Hallo, Great content. I know the topic is old, but I have a question. what if you only have one ledger nano and want to send bitcoins but not all of them. Theoretically the leftover bitcoins on ledger are at risk according to your statement, right ? I know that ledger uses xpub. ledger work with master private key and master public key and generates from it the 100s of addresses that belong to one account. As I understand it, this means that every time a ledger is to receive bitcoins, a new address is generated (for privacy purpose) , which can theoretically be assigned to the xpub. If I have understood this correctly, does this mean that there is actually only one master public address and Master private key? Theoretically, all coins would then no longer be quantum safe after an outflow of coins to another address. If so, what about the creation of a new bitcoin account on the same ledger nano ? Is a new public address and private key created there ? Or have I misunderstood, because it is always the same master public address and Master private key. It is possible that I have mixed up something. I would be grateful for clarification.
So let's say they don't hack the Bitcoin.. but the q computer has a great amount of processing power... So let's say I have a quantum computer.. and I mine Bitcoin... What do you believe will happen to the price of Bitcoin???
You can't mine all of it in a second just because you have a 100000% advantage over the rest of the miners. It will just fork I believe.
The only thing you can do is start a 51% attack and double spend your own coins.
Damn, that was interesting!
Quantum Computing is a great marketing term for - 'far fetched' Great work as always Andreas!
Far Fetched? Look up IBM Q and go have some fun trying to program something in quantum.
Quantum computing is in fairly advanced stages. We are looking at somewhere around 2025 to have a major breakthrough (going commercial). We are not that far away.
Remember when plasma TVs cost $20K for a 30” screen?
You can now buy 55” for less than $1K
It happens with every single technology
They already have had them for decades. Just because you don’t know about shit doesn’t mean it doesn’t exist.
Adjustments to the monetary system is not small fish to the NSA. I don't work for the NSA, but to say something like that is a bit off, or to sure of yourself and making the classic smart person mistake.
Hey Andreas, Would there be a dapplication towards Bitcoin's network on distributed scaling toward the quantum realm?? An example, nonce iteration parsed in to seven separate realms each with divergent scaling methods
6:20 iirc a lot (all?) of satoshi's transactions were p2pk - ie he spent directly to the public key. so we do know his public keys
is it a threat now?. and if i would get a new ledger and only send my crypto to it would it be safe
If you buy let's say a new Ledger Nano S and only transfer the crypto towards it and not from it, you will be safe.
I am correct that Andreas is wrong here? The satoshi coins are stored in old non-hashed address p2pk and not hashed p2pkh, therefore his coins are vulnerable to Quantum computing attacks?
You are exactly correct here, yes. All unhashed p2pk coins are at risk. Everything else will be at risk upon signature broadcast when a sufficiently powerful QC exists
Very informative session. Have you explained SHA-256 and ECDSA in details, maybe in other videos?
This guys makes me realise that I am literally a noob in the bitcoin
Well it seems that we're already there.. any update on this?
Does this also apply for ethereum? so if you spend some eth would there be a digital signature left on the blockchain that could eventually be cracked ?
Please, Andreas, I'm desperately waiting for a conference here in Montreal. We need you
6:11 This is not correct. Satoshi's early mining coinbase transactions were P2PK scripts, so even in the genesis block his pubkey is revealed in the locking script. Satoshi also did send 10 BTC to Hal in Block 170, which revealed Hal's public keys in locking script (as also P2PK).
Great talk, I'll subscribe sir
Wait that’s not true, he just said the am of Qbits you’d need to break a wallet encryption is out of reach when literally it’s not and the processing power scales up exponentially when you add 1 more Qbit each time. So that was a wrong representation of the realistic tech capabilities.
Then he says in the case of a breach by Q computer you can all just migrate to another algorithm... lol complete under estimation that’ll be cracked too... no trust in btc
love your expertise andrea. Just a thought; wouldn't a quantum computer be used to mine bitcoins instead to get the reward from the bitcoin network, thereby reinforcing the security of the network and then the same game theory would apply as it is now with asics?
I think that when quantum computing is available, it will only make bitcoin stronger (hashrate speaking); due to the same economic incentives playing out now.
Another angle would be to create a quantum crypto algorithm using another quantum computer. Then they’d have to reinvent the computer AGAIN, but even if they did we could just leap frog onto the latest computer at that time for as long as we want.
Andreas! Poles broke Enigma algo
Not Turing?
@@allowambeBOWWAMB nope, not without polish researchers
Poles broke it initially, but just before the war the Germans changed the existing rotors and introduced more of them. The British, building on the Polish work, then broke it again and developed additional techniques in doing so.
In the very first block, it's possible see the Satoshi public key
Not the private.
So what’s the update for 2024?
Since infinity is a reality, there can always be a coding solution that can overcome hardware advancements
about bitcoin and other blockchains: this ECDSA is the protocol that turns the private key into public keys, right?
isn't it just a matter of changing the protocol to one quantum resistant?
it really feels like just adding some layers of equations which are generated in a decentralized fashion (meaning that no one knows all the equations that can be used and in which order they will be used to encrypt both the keys and the hashs).
one thing i still couldn't figure out by now but have a clue on this: the encryption of the private key confirming that the public key used to transfer any money happens online?
ok, only the public keys go public, but where the "signature", the "yes, this public key was generated here by my private key using my cryptography" happens? is it locally?
i guess from what you said that no: if the quantum mofo can break into the SHA256 he would still have to get that public key and break the ECDSA aswell - so it means that the private key confirms that it is sending X to Z locally and then this message goes online.
COOL, but then there's another problem: wouldn't it be easier for a hacker to hack this confirmation and not the encryption itself? understanding what makes the wallets say "yes, this public key belongs to me here" and emulating it?
Awesome video
Most (all?) of Satoshi's coins are in P2PK addresses, not P2PKH, so his coins are immediately vulnerable to a quantum computer which can reverse ECDSA.
Yes, I contradicted myself between the two clips. There is a correction in the video description.
Sorry, didn't see the description correction. Thanks!
The concepts this man provides...SURREAL. 😳
GOAT
I dont think a currency that can replace the fiat currency system we currently are in is "Small Fish"... I still think blockchain is at risk still...
What algorithms are developers considering?
If quantum computers can break Bitcoin encryption, say goodbye to your bank account as well. Bitcoin can also hard fork to incorporate quantum resistant algorithms.
Why?
Your regulary money is protected by banks. Your BTC's are not.
@@joostvw3692 Packets being transmitted through the internet can be intercepted and then those packets can be decrypted using the quantum computers to reveal details such as usernames, passwords etc, that can be used to gain access to online banking accounts and access the money. So if encryption breaks, everything digital essentially breaks. This can be mitigated using quantum resistant algorithms for encryption, Bitcoin can also fork to incorporate quantum resistant cryptography.
@@joostvw3692 This also includes session tokens and cookies
@@Vt12365
Yes but still there is a bank that stands for your money. They are the keepers of your money. If there "vault" is breached you will get your money back.
With BTC there is nobody to protect your loss.
@@joostvw3692 There is no vault all the money is digital, stored in a database. Technically yes, they can print more digital dollars and put it in your account, but what would be the point of that, what would be the point of money at all, if more can be printed at will? Do you want to be the keeper of your own vault or entrust your money to a third party and increase their power?
With all respect to you Andreas, the credits for breaking the Enigma go to Polish researchers.
Thats jacked, why are you talking about stealing Satoshi's treasure.
Smashed the like
THANKS FOR CREDIT ...15BTC SCRIPT
3:57 “They can’t change the signing algorithm” Why does he say this? Can’t you just change the protocol to only allow quantum-resistant signatures???? Yeah?
+
Спасибо! Успехов!
now about quantum computing: people seem to worry about it breaking into old blocks/hashs/wallets... what about confirming new ones?
what about confirming fake ones?
if there are 6 quantum computers working for a hacker, probably they would be basically mining most transactions, so they would have the hash numbers, blocks etc.
i'm not sure how the nonces/new hash creations happen, which seem to be the missing piece here but, wouldn't they have enough data to fake a transaction and to confirm it by themselves?
let's say: Q1 just mined a transaction where X received 1 BTC. he then fakes a transaction where X sends him the 1 BTC and his 6 quantum computers will probably be the fastest ones to solve for the nonce of it and then, confirm the fake transaction.
if the miners assigned to mine a transaction are more random than that - how they are randomized in the safest cryptos?
@aantonop the enigma code was broken by polish mathematicians and cryptoanalysts: Rajewski, Rozycki, Zygalski
Satoshi is a time traveler!
The fuck, I didn't know that Aantanop is Andreas M. Antonopoulos, I have been referring to your book from quite a while now.
I wonder what he thinks now
IBM planning on having 1,000 functional qubits by the end of 2022 - error correction now over 99% - it is becoming very very close. and don't think for a second a state actor like China wouldn't love to crash Bitcoin.
i better get some gold soon.
Late at night dreaming about Bitcoin trying to think of any potential threats that could kill Bitcoin. Then Google the potential threat, and Andres is there to help you breathe again.
Well, Satoshi coins just moved
So you assume Satoshi is dead. Very sad if it's true.
Imagine.. We are already close to an AI that could do thousands of years work in a week or two. At the moment we see gov researched non weapons to the public released years later.. Things are gonna get weird when we hit a certain point
Blockchain NODES can use quantum tech too !!!!!!!!!!!!!
I love you aantonop
Digital currencies as we know it are not sustainable. Too much power is required to use it.
In the near future, quantum computers will be able to crack all binary based cryptology algorithims easly beacuse of its design. Nature and universe is working based on quantum mechanics, and nature is very complex situation which is existing computers will never be simulate it one on one. Quantum copmuters will be able to simulate the nature and the universe closely. I mean that all cryptology systems have to be change based on quantum mechanics. I dont know how the quantum cryptology look like for now but we will see it.
That's what paper is for.
Andreas = satoshi son
That computing thread is very interesting. 1mm is a whole lot of bitcoins for 1 wallet to have. INSANE
They will just double spend until they cant double spend...What a great way to rule the world.
IBM is selling his first public Quantum computer !!! Google it
I've been baptized by Andreas, blockchain has become an obsession for me now.
ethereum is quantum computing resistant.
OK uhhhhhhhhh. No it is a threat man Satoshis wallet? That is the end of bitcoin.
Satoshi: I want to test how greedy people are
People: I will buy Bitcoin and I will be the richest in the world
Quantum processing is here. D-Wave has a commercially available version for under $3 million that has 2048 q-bits that can break blockchain.
Ok first of all it's currently marketed at 10M$ a pop
And no the most advanced QC atm is IBM has 53 qbits.
Talking of fake news...
Quantum computing is going to screw bitcoin
Ur coming straight from the google quantum supremacy vod ¯\_(ツ)_/¯
Just use xrp
Just another FIAT token
ethereum is quantum computing resistant.
No, no it isn't lol.
Not in the least. At least some Eth devs have discussed a Quantum Disaster Recovery Plan, however. ethresear.ch/t/quantum-disaster-recovery/4042. At this point, Quantum Resistant Ledger (QRL) is the only active blockchain project using a standards-based, peer-reviewed Post Quantum cryptography scheme (XMSS/WOTS), but there will likely be others in the coming years. I suspect BTC will upgrade when NSA tells banks and other critical infrastructure to upgrade, but the lost/inactive addresses are an issue, they will have to be "burned/rejected" by core devs with a hard migration deadline, or just left open to Quantum Attackers.
lol, quantum computing is brute force processing power. We are talking about speed. I dont really care how good the encryption is, everything is just a matter of time. The point of quantum computing is, shortening that time.