Bitcoin and Quantum Computers: What are the implications in layman terms?
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Does anyone fully comprehend the concept of quantum computers and the implications on Bitcoin?
https://cointelegraph.com/news/bitcoins-final-obituary-quantum-computers-may-kill-future-of-money
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Marking to accompany the discussion.
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@Ndabezitha From what I understand (and I may be wrong), quantum computers can be threatening to the privacy of all non-physical data... It threatens all the cryptography system, so cryptocurrencies would not be the only target : banks are using cryptography, same for the encryption of emails, etc... So I would not be surprised if an quatum-resistant algorithm was discovered in the near future, because it just sounds too dangerous. I hope so at least ?
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From what I just read, Quantum computing is nowhere near ready for hacking blockchains, let alone solving a cure for HIV. I'm also confident scientist have a large grocery list of other and vastly more important things to solve using a powerful quantum computer than trying to break into some security feature of a digital currency.
I'm sure once quantum computers becomes mainstream, someone will quickly develop a small and unique equation for each block. This will cause the quantum computer to rely on a human to develop a tool to help it figure out the problem for each block. Which, will slow down the process enough to make it not worth it.
All this article is trying to do is create panic and a sell off. So someone who is short selling, can make a profit off of bitcoin.
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@socalguy Exactly! As my grandmother used to say "never believe what you read and only half believe what you see"
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Phew! (huge sigh of relief!) Thank you so much for enlightening me.
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Some news on the matter : http://www.altcointoday.com/bitcoin-can-withstand-quantum-computer-attacks/
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This is why BTC is pumping?
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Interesting.
