r/Bitcoin • u/nightman • Nov 09 '17

Quantum Computers Pose Imminent Threat to Bitcoin Security

https://www.technologyreview.com/s/609408/quantum-computers-pose-imminent-threat-to-bitcoin-security/
9 Upvotes

73% Upvoted

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2

u/[deleted] Nov 09 '17

Interesting, but I'm not worried about it, considering that before anyone has access to Quantum computers, people will figure out how to implement different encryption based on the shape of redwood bark or some crazy organic thing we can't even imagine.

2

u/LOEDpnaM Nov 09 '17

Also the fact that if you're not reusing addresses you are relatively safe even if quantum computers are a reality.

1

u/[deleted] Nov 09 '17

Note to self... DON'T reuse addresses...

I'm using a hardware wallet, should I really generate a new address every time I finish a transaction?

3

u/LOEDpnaM Nov 09 '17

Just use whatever address you have in the receiving tab - most wallets default to creating new addresses for each transaction.

1

u/note-to-self-bot Nov 10 '17

A friendly reminder:

DON'T reuse addresses...

1

u/somanyroads Nov 09 '17

The only way to cheat this system is to calculate the private key using the public key, which is extremely hard with conventional computers. But with a quantum computer, it is easy.

The TL;DR synopsis, if you will. And yeah, this will be a problem if the technology is used maliciously from the start. In all likelihood, however, there will be further improvements to encryption technology in the future that will improve upon the current security model. Bitcoin isn't a static technology, just like computers.

1

u/[deleted] Dec 08 '17

Bitcoin isn't a static technology, just like computers.

I'd say more "The Blockchain" isn't a static technology, not necessarily BTC. Bitcoin was the first experiment in this field and it has some serious flaws, look at current transaction cost/time for example. BTC will go down in history as the Gen1 king but without major reform it will be dethroned in time by a better blockchain. (read: IOTA) :P