Re: Do you think quantum computers would break Bitcoin's security?
Well, sorry to disrupt the techies at work but anyone got time for a history lesson ?
first personal computer : IBM
Release date August 12, 1981; 33 years ago
Discontinued April 2, 1987
Operating system IBM BASIC / PC DOS 1.0
CP/M-86
UCSD p-System
CPU Intel 8088 @ 4.77 MHz
Memory 16 kB ~ 256 kB
Sound 1-channel PWM
so 33 years ago we were doing 4.77mhz and a 256kb memory was more than enough for anybody...I think we should expect big things in the near future....quantum computers are definitely coming and standard encryption as we know it will go the dinosaur way.....along with it many other things that we consider untouchable today (Bitcoin included)...
the sad part is that by the time a private company would have quantum computers for sale, the NSA/GCHQ would've had years in advance of scorching the net with qbits...who is to say they aren't doing it already ?
http://www.washingtonpost.com/world/national-security/nsa-seeks-to-build-quantum-computer-that-could-crack-most-types-of-encryption/2014/01/02/8fff297e-7195-11e3-8def-a33011492df2_story.html
History is quite useless if you ask me (look what happens to Windows because it isn't rewritten from scratch) . This isn't even relevant. The development might actually slow down. The current processors are reaching a plateau when it comes to speed per core. first personal computer : IBM
Release date August 12, 1981; 33 years ago
Discontinued April 2, 1987
Operating system IBM BASIC / PC DOS 1.0
CP/M-86
UCSD p-System
CPU Intel 8088 @ 4.77 MHz
Memory 16 kB ~ 256 kB
Sound 1-channel PWM
so 33 years ago we were doing 4.77mhz and a 256kb memory was more than enough for anybody...I think we should expect big things in the near future....quantum computers are definitely coming and standard encryption as we know it will go the dinosaur way.....along with it many other things that we consider untouchable today (Bitcoin included)...
the sad part is that by the time a private company would have quantum computers for sale, the NSA/GCHQ would've had years in advance of scorching the net with qbits...who is to say they aren't doing it already ?
http://www.washingtonpost.com/world/national-security/nsa-seeks-to-build-quantum-computer-that-could-crack-most-types-of-encryption/2014/01/02/8fff297e-7195-11e3-8def-a33011492df2_story.html
When talking about a quantum computer the numbers are quite different. A quantum computer is quite fast at very low speeds (even under a single MHz). Quantum computing will make an impact on asymmetric encryption, but symmetric algorithms are considered safe with a large enough key size e.g. 256 bits. Essentially we could just upgrade it to a very high number which would render quantum computers useless in beating encryption.
Yes I agree, however the government might have quantum computers for all we know.
I hardly doubt that. The are probably using Windows XP with the built in firewall. 
The current processors are reaching a plateau when it comes to speed per core
that is correct, and silicon is showing its limit .... but who is to say that in 5 years from now Silicon Valley won't be named Graphene Valley !? Graphene has enormous potential in future of circuitry, the only problem is its price...and we all know that the NSA has endless resources ...I honestly think that we underestimate the power of NSA and their thirst of "knowledge"
you should check this out, I used to think the same ("The are probably using Windows XP with the built in firewall") but not after viewing this :
http://www.imdb.com/title/tt4044364/