Zijn quantum computers een bedreiging voor bitcoin? - BTC ...
Zijn quantum computers een bedreiging voor bitcoin? - BTC ...
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Quantum computing and Bitcoin - Bitcoin Wiki
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Don’t take anything i say here as fact, i am in no way qualified to talk about quantum computing or bitcoin at all. i’m just trying to ask a question and learn more. thank you. Someone with a physics and cybersecurity background please inform me I’m going to try my best with my limited knowledge to ask this question but the idea of quantum computing is using the superposition of an electron in place of a “bit” correct? meaning one “bit” can store potentially endless data correct? so couldn’t a single quantum computer completely overtake all of the miners and power being put into mining today? It would at least have a significant advantage over everyone else to the point where a single person could hold ungodly amounts of bitcoin. Quantum computing would pretty much mean the death of encryption and therefor bitcoin and blockchain technologies wouldn’t it?
[ 🔴 DELETED 🔴 ] Topic originally posted in Bitcoin by newtoreddit2101 [link]
I've been a bitcoin bull for about a year and I've bought a decent amount of bitcoin even when it was at the high of around 12k this year. I understand all the bull cases and am onboard, but there is one bear case that keeps worrying me. How is bitcoin protected against quantum computing? Once quantum computing is viable one of the biggest threats is to cybersecurity as it can break almost every method of cybersecurity we have today since it processes numbers and calculations at a significantly faster rate than current computers. How do you feel about this threat? Especially in about 7-10 years when quantum computing might be much closer. Just wanted to start a discussion and here everyone's thoughts. Thanks!
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BTC's RBF makes it broken in a post quantum world.
When public key cryptography is broken by quantum computing, bitcoin will be ok so long as addresses only are used once, since the public key is revealed as soon as funds in an address are spent. With Replace-By-Fee in bitcoin core, when the public key is cracked in the mempool, funds can be stolen. All the attacker has to do is to use the private key to broadcast a transaction to himself with a higher mining fee, and the coins are his. Unless this is changed, BTC will be rendered completely useless in a post quantum world. Unlike bitcoin core, bitcoin (BCH) uses the first seen rule, so it will not have the same vulnerability. Also, double spend proofs are coming to bitcoin rather soon, making it nearly impossible to pull off a double spend.
We all know there are at the very least 1 Mln BTC in frozen accounts. Nobody has access to the private keys to move them. In the foreseeable event of quantum computing, bitcoin would need to replace its current ECDSA based cryptography. From what I understand, this would require all Bitcoin users to generate new, quantum-proof addresses and move all their funds from their old addresses to the newly generated ones. But what about frozen/lost coins? Those would be out in the wild for anybody with enough computing power to crack and spend as they like. This would of course threaten the long term value of BTC (we are talking about 1-3 Mln coins at least). So what are we going to do about this? Here is the only solution I could come out: a) Hard fork into a fully quantum-proof "Bitcoin Quantum": issue 21 Mln new bitcoin quantum (BTQ) and require all users to generate a BTQ address and sign a message with their old wallets containing the new BTQ address, distribute 1 BTQ for every old BTC owned. Then take all unclaimed BTQ and either send them to a burn address or proportionally distribute them among post-quantum holders. b) Soft fork still requiring all users to move their funds to quantum-proof addresses, but this time we keep using the btc blockchain because nodes agree on a block # beyond witch they will reject any transaction coming from pre-quantum addresses, effectively burning away all unclaimed funds. I'd like to know what you think in the comments.
Quantum computers are posing a serious challenge to the security of the Bitcoin blockchain. Presently, about 25% of the Bitcoins in circulation are vulnerable to a quantum attack. If you have Bitcoins in a vulnerable address and believe that progress in quantum computing is more advanced than publicly known, then you should probably transfer your coins to a new p2pkh address (don’t forget to ... Quantum computers have the potential to make Bitcoin’s security measures obsolete, effectively destroying the once dominant cryptocurrency. What is Quantum Computing? Simply put, a quantum computer is a supercomputer held at near absolute zero temperatures (-459.67°F). At this temperature, the subatomic particles in the computer’s processor act in ways that aren’t possible under normal ... The problem isn’t really Bitcoin. If we get quantum computers that can do thousands of qubits without a correction and consistent results, we have a much bigger problem. The bigger problem we have is that the entire world’s classified communications, confidential communications, financial systems etc, all depend on cryptography today. We would need to update all of that to make it quantum ... If quantum computers grow in speed and shrink in price over time, then their inherent per-operation advantage in mining might allow them to out-compete classical computers in Bitcoin mining at some point, probably far in the future; this is comparable to the historic move from CPUs to GPUs to ASICs in Bitcoin's past, and would not be an issue. Timeline / plausibility. Creating a quantum ... Quantum computers have the capability to crack complex mathematical problems as qubits or quantum bits can maintain a “superimposition” by being in two states at a given time. Meanwhile, Marchenkova doesn’t think crypto holders must find a way to move their Bitcoin to a quantum secure wallet immediately.
Bitcoin and Quantum Computing Are Quantum Computers a Threat to Bitcoin ?
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