There is going to be lots more excitement to come (both success and failure) over next next few years, and that's not even allowing for black swan's like quantum computing. Stock up on the popcorn!
Could quantum computing crack SHA2 and ruin Bitcoin?
Hashing is hard on quantumn too, but there are other possibilities. However, the Bitcoin network is flexible and can change its algorithms anytime.
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https://bitcointalk.org/index.php?topic=153302.0