Re: Bitcoin and blockchain encryption is easily broken by new computer.
Another of your quantum nonsense? I'll pass on this as the video is just more on theory nothing realistic.. let's not be drawn to FUD by theories that has already been in existence for decades and yet to be archived... And by the way, this video was a month ago, if it mattered we might have heard much on it already...
So, as you say, the idea of quantum light computers has been in existence for decades. I have held this idea for many decades. Do you really think that the developers have stopped? In decades, they have had much success. Now, ask yourself, what would such developers do with their advancements? If they are quiet about their advances, they are simply getting things set up to be ready for anything. So, my warning is simply a warning of what is happening.
Since this isn’t coming from a newbie, I’d probably watch the video.
I’ve seen a lot of discussions already about concerns around quantum computing, but I’m no expert so I don’t really stress over it. What I do pay attention to are the big investors. If they start pulling out and selling their Bitcoin, then that might be a real reason to panic or at least be a bit more cautious.
I’ve seen a lot of discussions already about concerns around quantum computing, but I’m no expert so I don’t really stress over it. What I do pay attention to are the big investors. If they start pulling out and selling their Bitcoin, then that might be a real reason to panic or at least be a bit more cautious.
Nope. You don’t need to as if that was possible we would lose all our money right now. Satoshi coins would be getting dumped on the black market, or worse, everybody would be doing it.
Unless you see btc devs saying something about it, you shouldn’t be listening to FUD.
Not saying quantum computers won’t be a problem in the future. That’s a real possibility but right now, it is still not there.
Do you see people holding thousands of btc panicking? If not, Why would you?
Why would Bitcoin devs say something about it? They don't want to get sued for negligence. Rather, they are working night and day to find away to protect their pet project from things like this. Increasing the size of hashes isn't the way. This light computer can work through any hashes of virtually any size.
Light-based quantum computing has existed for years, and hasn't been proven to break any encryption methods,
even ones that are obsolete.
Xanadu is a Canadian company. If their QCs were somehow capable of stealing funds from bank accounts at will
and thus triggering the collapse of the world-wide banking and financial system, do you think the government of Canada would allow them
to be sold to just anyone? It would be akin to legalizing the sale of nuclear weapons to anyone on the street who had the money,
no questions asked. Of course they aren't going to allow for that, so use your brain if you have one.
I don't think the Canadians are interested in bringing about the collapse of their own economy and financial system let alone
the entire world financial system. What good would that do them? Unless Xanadu is a North Korean or ISIS-backed company
I think most of us won't have to worry about selling all our belongings and moving to a cave in the Appalachian mountain range.
even ones that are obsolete.
Xanadu is a Canadian company. If their QCs were somehow capable of stealing funds from bank accounts at will
and thus triggering the collapse of the world-wide banking and financial system, do you think the government of Canada would allow them
to be sold to just anyone? It would be akin to legalizing the sale of nuclear weapons to anyone on the street who had the money,
no questions asked. Of course they aren't going to allow for that, so use your brain if you have one.
I don't think the Canadians are interested in bringing about the collapse of their own economy and financial system let alone
the entire world financial system. What good would that do them? Unless Xanadu is a North Korean or ISIS-backed company
I think most of us won't have to worry about selling all our belongings and moving to a cave in the Appalachian mountain range.
You would look rather silly if you didn't take into account the possibilities. The longer quantum light exists, the greater the advances will be.
This reminds me of the Bitcoin address that's been sleeping for the past years and suddenly woke up yesterday, I think it consists of thousands Bitcoin and people are panicking over this, even the market was in fear.
The address move 10,000 separately to different addresses and a friend told me that they start dumping already, billions in dollars worth I guess but honestly I just told him that in two days the market will absolve everything if the whale decide to dump it all.
Later I read on news that this could be a hack because before this person start moving the Bitcoin he did some testnet transaction on BCH, can't get you the accurate info here because I was confuse myself, later in the day some are spreading news that quantum computer is responsible for this, that the wallet was hacked. I refuse to believe though.
The address move 10,000 separately to different addresses and a friend told me that they start dumping already, billions in dollars worth I guess but honestly I just told him that in two days the market will absolve everything if the whale decide to dump it all.
Later I read on news that this could be a hack because before this person start moving the Bitcoin he did some testnet transaction on BCH, can't get you the accurate info here because I was confuse myself, later in the day some are spreading news that quantum computer is responsible for this, that the wallet was hacked. I refuse to believe though.
Faith is a wonderful thing. However, in your faith, investigate... for your own safety.
@Outhue
Deleted my earlier post because I see you were talking about an earlier incident. I thought your post was about this recent news which the OP posted.
My main point still stands though, btc is at its ATH and nobody’s panicking which means the news OP posted are a lie.
Deleted my earlier post because I see you were talking about an earlier incident. I thought your post was about this recent news which the OP posted.
My main point still stands though, btc is at its ATH and nobody’s panicking which means the news OP posted are a lie.
Nobody is panicking. Why? Could it be that nobody understands and that they are simply hoping for the best? Hope doesn't make reality.
I understand the fact that you are joking. But I am curious to know if something like this really can happen in the future. These jokes are old now. But what if the tech guys really make something that would be able to do it? If something like that exist, it should be able to bruteforce the bank of America website and hack billions of dollars, right? So what these banks are going to do?
Ah, it seems the world is going to run without any money or with just fiat and off-line transaction again due to these quantum computer.
They simply won't be able to break the encryption. The government wouldn't allow them to operate if they could do something like this.
Ah, it seems the world is going to run without any money or with just fiat and off-line transaction again due to these quantum computer.
They simply won't be able to break the encryption. The government wouldn't allow them to operate if they could do something like this.
Government doesn't understand the significance of quantum light. However, if they do, they might be the ones behind it... financing it for complete control of the money systems.
Since this isn’t coming from a newbie, I’d probably watch the video.
I don't. The OP is well known in the Politics section where if you go and have a look you will see that he defends every conspiracy theory there is. I mean, it may be rational to believe in some so-called conspiracy theories, but this guy is on another level.
My main point still stands though, btc is at its ATH and nobody’s panicking which means the news OP posted are a lie.
I agree on this.
If you look thru the OP posts, you will see that the OP is right on most of what he posts. You just don't understand because you haven't thought about it long enough or deeply enough.
Oh, hold on OP!
I thought you were joking. But you seem serious about your claim. It seems you have created another topic before and you earned a negative feedback on your profile. According to that member, you are spreading FUD. So, I assume you created this thread to prove him right and elaborating more on this matter, right? I am curious what is your personal opinion regarding these quantum computer.
I believe I spoke for you in a reputation thread. A new DT member tagged you for spreading misleading information and they got kicked out of the DT network because they were using the feedback system very aggressively. But it seems their feedback your profile was correct.
I thought you were joking. But you seem serious about your claim. It seems you have created another topic before and you earned a negative feedback on your profile. According to that member, you are spreading FUD. So, I assume you created this thread to prove him right and elaborating more on this matter, right? I am curious what is your personal opinion regarding these quantum computer.
I believe I spoke for you in a reputation thread. A new DT member tagged you for spreading misleading information and they got kicked out of the DT network because they were using the feedback system very aggressively. But it seems their feedback your profile was correct.
Not sure what claim you are talking about. Bitcoin is a neat idea. But its life is hanging by a thread. A drastic flop of the Internet or the electrical grid would destroy it.
Later I read on news that this could be a hack because before this person start moving the Bitcoin he did some testnet transaction on BCH, can't get you the accurate info here because I was confuse myself, later in the day some are spreading news that quantum computer is responsible for this, that the wallet was hacked. I refuse to believe though.
Nobody knows for sure the reasons for moving those bitcoins and people can only speculate on this topic. News sites need hype to attract readers, so they create various rumors about hacking this wallet, for example, with a quantum computer. There is no evidence, only speculation. There is already too much noise on this topic. Whereas the reason for moving these bitcoins could be either a sale or a banal transfer to their own wallets. BTC-community is extremely sensitive to any news, which can affect the stability of the market.And regarding quantum computers, while there is no proven fact of the possibility of hacking a bitcoin wallet with this, there is no reason to panic.
Quantum computers still look like another horror story for bitcoiners.
The proof is in the video. Watch the whole thing. Maybe the advancements aren't as great as the OP video shows. But if it can be shown like it is shown in the video, somebody will develop it.
would take the worlds fastest supercomputer over 7-million years to calculate.
oh noes!!!!
That means it would take this computer...only a billion or so years to crack a private key, as opposed to a quintillion.
PANIC
Since you don't have very many satoshi's, you wouldn't stand to lose much. But, consider getting into gold and silver with the funds you are holding in the bank.
