Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: How will Quantum computing affect Bitcoin?
by
ranochigo
on 04/03/2021, 09:21:01 UTC
⭐ Merited by NeuroticFish (1)
But from what I've read (since there are plenty of threads here on this topic!) Bitcoin is pretty much safe from quantum computing and the only weakness (albeit theoretical) may be in the address reuse. (If I understood right). However, there are a lot of things in this world protected by cryptography, same or weaker than Bitcoin's, if this is hacked the problems will be .. generalized.
As well as transactions that were in P2PK, which means most of the coins mined in the early days are vulnerable. It is not difficult to solve this issue for the transactions in the future but those with exposed public keys will inevitably be vulnerable still.

Important note: Most of the encryptions that you're using nowadays will be broken in tandem. Whether Bitcoin is a suitable target, it's too early to tell.