Quote from: MetalGear on October 01, 2019, 02:48:28 PM

Quote from: Thefrolly on September 30, 2019, 04:49:50 PM

Years ago I read about the potential danger of quantum computing for Bitcoin, I'm aware that before bitcoin gets **** up, many other things like banks and governments get fucked up earlier. However, I was wondering if anything changed in the last few years and whether quantum computing has progressed lately. Is it still a threat, will there be a solution? Thanks!

Quantum computing is mainly about storing and manipulating data and performs a calculation using 1 and 0's and is used most especially in major corporations and academic institutions and will be widely spread and used in not time. But in crypto space, this is no good news for quantum computers is a threat in cryptography, quantum computing's technology is very powerful that it can break widely used encryption scheme, and there comes the threat to cryptography especially in bitcoin because it relies on the blockchain which uses encryption, same goes with other cryptocurrencies. If quantum computing will be put on the wrong hands, crypto space will be at risk for they will be able to manipulate data inside a ledger.

First, I would like to add some info about how the quantum computer works, it is not just computes using 1 and 0, there is a superposition that can be understand as being in a state of 1 and 0 at the same time. That is the reason why quantum computer computes very fast. In my opinion, even the google 72 qubits quantum computer will not be able to decrypt our private keys and encryption, because as far as I know, quantum computers are good in some points, if we will going to let them perform same algorithms like the generic computer, it might be the same performance (bottleneck).