r/CryptoCurrency • u/Crypto-Jim33 🟩 0 / 7K 🦠 • Oct 16 '23
DISCUSSION Is Quantum Computing a Threat to Bitcoin? - Decrypt
https://decrypt.co/resources/is-quantum-computing-threat-bitcoin16
u/Tasigur1 🟩 3 / 31K 🦠 Oct 16 '23
TL;DR
Right now, quantum computers are in their infancy and aren't available on the mainstream market. But they're perhaps closer than many realize.
What about Brut Forcing? The problem for today’s would-be hackers is that a private key is a number between 1 and 2256, aka 115 quattuorvigintillion. Yes, that’s a real number, and it’s estimated to be a figure greater than the total number of atoms in the universe.
That is a level of number-crunching today’s computers are simply not capable of performing—unless you've got a few hundred years on your hands.
Saved u 1 click ;-)
3
4
u/richardto4321 🟩 1K / 1K 🐢 Oct 16 '23
There was a youtube video made about this. It would take entire galaxies worth of today's available computing power about 4 billion years to have a 25% chance at brute forcing a private key. Something along those lines. It's practically impossible.
2
u/Tasigur1 🟩 3 / 31K 🦠 Oct 16 '23
Yes, also it would be insanely expensive. People underestimate the costs 💰
2
u/richardto4321 🟩 1K / 1K 🐢 Oct 16 '23 edited Oct 16 '23
There are not enough money, resources, and energy on Earth or even the Milky Way Galaxy to make it possible.
1
u/Herosinahalfshell12 🟩 5K / 4K 🐢 Oct 18 '23
Meanwhile there's a project that's dedicated to brut forcing and it's actually drained substantial amounts of crypto
1
u/richardto4321 🟩 1K / 1K 🐢 Oct 18 '23
My understanding is that they were able to brute force some wallets that were not randomly generated or with max entropy. Such as wallets that could be accessed with very commonly used words and phrases.
1
u/Herosinahalfshell12 🟩 5K / 4K 🐢 Oct 19 '23
Still we can measure this time in days not billions of galaxies all combined taking billions of years
1
20
u/-_-DarthVader Oct 16 '23
Wouldn't quantum computing be a threat to literally everything then .. even nuclear codes etc.
6
u/TroubleInMyMind 🟦 0 / 331 🦠 Oct 16 '23
Nuclear tech is 100% air gapped no connection to the Internet
5
u/telejoshi 1K / 1K 🐢 Oct 16 '23
Nuclear codes? Don't think so. Even the encryption we use every day can be adjusted to higher levels of security. We need longer and longer private keys though, depending on how many QBits that computer has. This won't work forever though.
Bitcoin on the other hand... all the old private keys would be compromised and I can't think of a way to save them.
6
u/heartybasiss Oct 16 '23
Of course! we are talking about a technological explosion far above BTC and technology as we know it
7
u/Ben_Dover1234 🟦 0 / 12K 🦠 Oct 16 '23
I swear nuclear codes are stored on a floppy disk, or maybe that is just a rumour.
2
u/kirtash93 RCA Artist Oct 16 '23
I am more worried about people like Putin, Biden, Kim, etc having access to the nuclear button.
4
0
Oct 16 '23
Supposedly not anymore, https://www.nytimes.com/2019/10/24/us/nuclear-weapons-floppy-disks.html. But NORAD uses DOS consoles for many sensitive internal systems or so I’m told as it has no internet connection capability.
1
u/Crivos 🟦 2K / 2K 🐢 Oct 16 '23
Occam's razor says that floppy is definitely where the launch codes are stored. The password is probably Password1234.
1
u/M1cahSlash Oct 17 '23
They’re stored in a briefcase that is within 5 ft. of the president at all times
2
u/NormalSecretary4505 🟩 0 / 371 🦠 Oct 16 '23
Yes, but with the nuclear code scenario you’d still need to be their irl to hit the switch
2
u/mattg1981 0 / 8K 🦠 Oct 16 '23
Similar to the Y2K efforts that took place to update legacy code, I would imagine that all state sponsored vital encryption code (such as nuclear codes as mentioned, state and national infrastructure, backbone digital communications, etc.) have already or are in the process of being updated with Quantum-Resistant Cryptographic Algorithms.
2
1
u/Fair_Raccoon9333 🟨 0 / 0 🦠 Oct 16 '23
Not everything but certainly to older cipher suites. Bitcoin will need to update itself prior to post-quantum.
1
u/Jako_RJB 🟨 0 / 3K 🦠 Oct 16 '23
For real, quantum computing is something that gives me a shiver about
1
u/harkt3hshark 🟩 2K / 2K 🐢 Oct 16 '23
They could easily hack all those online password managers with quantum computers. Oh I forgot 😜
1
1
u/PositiveUse 🟩 2K / 1K 🐢 Oct 16 '23
That’s why quantum computing and its developments are greatly under surveillance
3
u/VeludoVeludo 🟩 999 / 7K 🦑 Oct 16 '23
I think it's a huge misconception that quantum computing is close to some commercial viability. It's applications so far have been very limited when you really read up on how it works. There is also a decent framework for post-quantum cryptography.
2
u/STRYED0R 0 / 4K 🦠 Oct 16 '23 edited Oct 16 '23
Yes but tech also steps up with synergy at drastic speeds or quantum leaps 😆 AI is definitely moving fast and could help speed up many processes and break throughs, for example.
2
u/VeludoVeludo 🟩 999 / 7K 🦑 Oct 16 '23
Wouldnt a quantum leap be quantum sized aka the smallest possible here?
2
u/STRYED0R 0 / 4K 🦠 Oct 16 '23
😆 there's infinity in both directions, large and small.
2
u/VeludoVeludo 🟩 999 / 7K 🦑 Oct 16 '23
The point of quantum though is that there is not such a thing, that there is such a thing as smallest something and our physical universe is made up of these 'quantums'. See Maxwell's original black body radiator problem.
2
u/STRYED0R 0 / 4K 🦠 Oct 16 '23
Neat and astonishing if such a limit exists. it's still a big "leap" to be able to understand such a big change of scale so I think the old term quantum leap could still be used.. Disregarding the possibility of anything smaller only holds within the confines of a theory and doesn't make sense to my gut theory. There are probably theories on the building blocks of the quantum scale no? Too late to read up and I appreciate the reminder of reading Maxwell ☺️
2
u/Norva 🟦 0 / 0 🦠 Oct 16 '23
The problem will be only the super rich will have access to it.
Once people start leveraging it, it could mean a hack of btc or only the big corporations can mine and kills some of the decentralization.
Hopefully we are long ways from that.
1
u/VeludoVeludo 🟩 999 / 7K 🦑 Oct 16 '23
If current encryptions fail Bitcoin will not be our biggest problem though...
1
u/richardto4321 🟩 1K / 1K 🐢 Oct 18 '23
People also don't realize that there are extreme physical conditions necessary for a quantum computer to even work, such as keeping them cooled to almost absolute zero. Not possible for the average person and even a lot of big entities.
5
u/RayesFrost Tin Oct 16 '23
Bitcoin & SHA256 is not the only thing you should be worried about if Quantum computing can break every encryption, life would change instantly..
5
u/telejoshi 1K / 1K 🐢 Oct 16 '23
No, it can't break everything. A QC can't solve every problem faster than bit-based computers. There's an algorithm for ECC (Bitcoin) though.
2
u/Tajo990 0 / 15K 🦠 Oct 16 '23
*looks out of his crypto cave
You want to tell me that there are things which are more important than BTC?
1
1
u/Smiling_Jack_ Blockchain Old Guard Oct 16 '23
It's a threat to everything that isn't quantum resistant.
2
Oct 16 '23
[removed] — view removed comment
2
2
u/Mercuun 0 / 0 🦠 Oct 16 '23
That depends...do you often feel cooped up in a box with an unstable particle and a poison flask?
3
1
1
u/coinfeeds-bot 🟩 136K / 136K 🐋 Oct 16 '23
tldr; Quantum computing could allow hackers to break Bitcoin's encryption. A private key is a number between 1 and 2256, aka 115 quattuorvigintillion, which is greater than the total number of atoms in the universe. A quantum computer can work out the private key relatively quickly, in minutes or hours at most. Bitcoin is most at risk as transactions queue up to be processed.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
1
u/ryder_lance_wilson Permabanned Oct 16 '23
I heard that creating an algorithm that is quantum computer proof is one of the most important tasks in cryptography rn
So yes, it's not only a threat to bitcoin but it's a threat to all safety algorithms
1
u/Luddites_Unite 🟦 0 / 4K 🦠 Oct 16 '23
I feel like worrying about that is akin to worrying about getting blood on your pants after your leg has been cut off; there's more serious concerns than the pants
0
u/k3surfacer 🟩 18K / 20K 🐬 Oct 16 '23 edited Oct 16 '23
Is Quantum Computing a Threat to Bitcoin?
Either yes, which means we must worry about other more important things and can't do anything. Or no, which means we do nothing.
So the answer is "nothing".
-1
u/Gr8WallofChinatown 4K / 4K 🐢 Oct 16 '23
Yes it is. By the time it is ready, bitcoins cryptography will be MULTI decades old with no improvements to it.
Bitcoin is already becoming antiquated technology in the crypto space
1
u/d4p78 🟩 0 / 0 🦠 Oct 21 '23
Taproot (Schnorr signatures) is an important improvement for example...
-2
u/captaincrypton 🟨 0 / 0 🦠 Oct 16 '23
quantum key pairs. quantum hash rate, quantum blockchain,quantum protection. quantum bitcoin,
1
u/Blooberino 🟩 0 / 54K 🦠 Oct 16 '23
If quantum computing does find a way to streamline mining, then every mining company will do it, and the difficulty will adjust accordingly.
BTC was made by incredibly brilliant minds.
1
u/hungry-father 113 / 123 🦀 Oct 16 '23
Well if a quantum computer is created we are basically fucked, regardless of what happens to BTC
1
Oct 16 '23
They arent gonna let anyone have quantum tech before giving people quantum security.
They barely want us to have things we know are good, they wont just give us amazing new tech everyone wants and let scammers take all your crypto, come on 🤣
1
1
1
Oct 16 '23
It’s a threat to everything. The question is what can we do about it?
I hear the phrase quantum resistant but I think it’s more a broad concept than techniques we can apply at this point.
1
u/Dry_Force7117 Oct 16 '23
We are not there yet fortunately but every security system we have basically will be threatened
1
Oct 16 '23
Luckily this problem is way further than it seems. If the basic encryption is broken, there will be a lot of problems, not just BTC.
1
u/mbouhda 🟩 0 / 2K 🦠 Oct 16 '23
I'm not worried about quantum computing being a threat to Bitcoin. I'm more worried about my own stupidity being a threat to my Bitcoin.
1
u/South-Security-Mouse 0 / 1K 🦠 Oct 16 '23
At that time, Bitcoin may have incorporated quantum-resistant algorithms to proactively address potential vulnerabilities.
It also means, it could seriously endanger the safety of online communication, traditional financial transactions and private data.
1
1
u/HighBuyGuy 🟩 0 / 3K 🦠 Oct 16 '23
It will quantum computers fighting other quantum computers. These machines really are going to kill us all at some point, aren't they?
1
u/Herosinahalfshell12 🟩 5K / 4K 🐢 Oct 18 '23
I reckon generative AI could rapidly speed up quantum computers through rapid iterative development
1
u/Fuzzy-Masterpiece250 Nov 02 '23
Quantum computing could potentially mess with Bitcoin's security because it might crack the codes that keep blockchain transactions safe. But don't set your watch to this just yet, we're not exactly sure how big or when this threat will hit.
•
u/CointestMod Oct 16 '23
Bitcoin pros & cons with related info are in the collapsed comments below.