Will quantum computing kill crypto?

just buy quantum coin

>>2183789

If quantum computing becomes a problem crypto can just hard fork with a version of encryption that is resistant to quantum computers.

>>2183789
No, quantum computers will do all normal computations slower as additional cumbersome code is needed to account for the innate randomness in its workings.

Quantum computers are made for simulating particle physics very precisely by replacing a algorithm to simulate the randomness in quantum mechanics with the actual randomness inherent to quantum mechanics. It's a very good Schrödinger equation solver

>>2183807
I'm no expert on encryption or quantum computing, but isn't the whole idea behind quantum computers that they will be able to crack encryption incredibly fast?

There isn't any way to encrypt something so that it is immune to quantum computers, that would kill the whole concept and there would be no push to develop quantum computers.

>>2183789
No that's not the case. I've been to a presentation about quantum computing from a large international that is working on a 20 qbit quantum computer.

The way bitcoin mining works is that it wil give a difficult puzzle to all computers tgat are mining and the one who solves it will get the honer of mining the block.

However. The difficulty of the puzzle is based on the time it took to solve the last one. As such. The puzzle will be so difficult that it will take the quantum computer just as long to solve as the last puzzle for the other computers.

Because of this the quantum computer will be faster for exactly 1 block.

>>2183789
>Quatum computing

This is meme. It cannot be done, crypto is the future

>>2183789
i've always had this doubt

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>>2184127
Ah, I see. It'll just up the standard "solve-time" for this puzzle when most people begin using quantum computers to solve them. It's like if we all became twice as smart, the average IQ would still be 100.

But what about security? A quantum computer would be able to impersonate wallet owners and move funds around at will (stealing them essentially), since it's all protected by encryption. The encryption "locks" will essentially be worthless and crypto will become more insecure than physical ones.

>>2184127
and the second block, and the one after that for 10 years until bitcoin is dead and everyone can finally get their hands on a quantum computer somewhat cheap.

>>2183789
normal computers will have a better encryption than quantum ? Probably we will have to create an encryption on quantum computers, right ? Quantum X Quantum. We have more 20 years of crypto ?

>>2184194
If there's an quantum computer, no finance will be secure man, quantum must be used to do good otherwise it will destroy the world

>>2183868
Quantum encryption. Stop and think for a minute before you talk, we're talking about using quantum computing to mine bitcoin blocks when it could be used to crack into any bank world wide and drain billions if they keep running the same encryption they have now.

Everything scales, computer jumps, encryption jumps.

Quantum computing will be used to break down things like human diseases and questions to space and time. We future now.

>>2183789
there is already quantum resistant code, and iota is the best solution to the blockchain sha256 crisis

>>2184194
I'm not to sure if Bitcoin uses quantum resistent encryption. If not the problem could be solved with a new coin or a hard fork. This would be unfortunate but it's not the end of crypto.

>>2184199
It might be more difficult to mine bitcoin but since it won't be actually mined faster and only be more difficult to mine it won't increase the inflation compared to now. So it could mean the end to mining at home but the coin won't decrease in value because of it.

>>2183868
>There isn't any way to encrypt something so that it is immune to quantum computers
yes there is

>>2184231
Physical property, precious metals, would become more relevant (than they already are).

>>2184283
How would this work? Is there anywhere I could read about this?

>>2183789
Transactions will need to become about 50x larger to become immune. That's all.

>>2184311

read up about post quantum cryptography.

Its been researched since like the 90's dude.

Maybe having 200 mil extra state possibilities at 64 bit will break the world but then you just take the current numbers and swap them for bigger numbers.

>>2184525
200 million times the state possibilities*

won't be all bitcoins already mined before quantum computing gets that powerful and available?

let me explain this easily: a quantum computer is just a more powerful computer. it can just work faster. much, much, much faster than normal progression, but just "faster" all the same. contemporary encryption is made by traditional computers in such a way that it takes far too long for traditional computers to ever solve. quantum encryption will be made by quantum computers in such a way that it takes far too long for quantum computers to ever solve

think of it like this: if someone invents a new superhard and sharp metal and makes a sword with it, that doesn't mean that no shield can block it. you just need to make a shield with the same metal as the sword

>>2184572
But if the group with this computer wants to profit over everybody ?
Everything must be opensource man, that's the only way humankind can progress.

>>2184556

Last bitcoin will be mined sometime around the year 2140.

>>2184572
A quantum computer won't have any more computing power than a traditional computer. It would provide no benefits for playing games or watching movies, for example.

The benefits is that it can run certain algorithms that allow for faster solving of certain problems. A quantum computer can evaluate many possibilities at the same time to find out which is most likely to be correct. A traditional computer would check each possible solution and test them out manually, essentially brute forcing for a solution. This makes a quantum computer fit for searching for key primes that are used in encryption, essentially making traditional encryption worthless.

https://www.youtube.com/watch?v=8anVNc0r_8o&index=7&list=PL50XnIfJxPDWDyea8EbbLe8GHfXkWU7W_

Maybe you could use a similar method of searching for the primes used in encryption?

As far as I can see nobody know what they're talking about in this thread.
>>2184825
>A quantum computer won't have any more computing power than a traditional computer. It would provide no benefits for playing games or watching movies, for example.
>The benefits is that it can run certain algorithms that allow for faster solving of certain problems
This is true but quantum computation doesn't evaluate multiple possibilities at the same time.
Quantum computation is able to compute continuous plages of values instead of discrete arrays. That's the difference.
It's better for precise physic models (such are climate and weather) and analog stuff. Quantum computing won't do anything for cryptography.

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BLOCKFOLIO DOWN??


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Here's a vid to help explain it.
https://youtu.be/JhHMJCUmq28
Your welcome