Quantum computers could crack Bitcoin by 2022

[BeNotDeceived]

https://m.youtube.com/watch?v=an_06ranUws

https://decrypt.co/28560/quantum-comput ... on-by-2022

Quantum physics involves the investigation of structures smaller than atoms. When looking at sub-atomic structures, the laws of physics go out the window and crazy things begin to happen. Quantum computers exploit those properties to perform calculations far faster than even the most powerful supercomputer.

Oh No Mr. Bill may be a ginormous understatement.

Work has real value, what else and is easily exchanged with others?

[Chip]

I think this would only expedite the mining of the remaining undiscovered bitcoins, which are less than half of all those that will ever exist. Most of the bitcoins that can ever be already exist.

[BeNotDeceived]

I think this would only expedite the mining of the remaining undiscovered bitcoins, which are less than half of all those that will ever exist. Most of the bitcoins that can ever be already exist.

Everything You Wanted To Know about Integer Factorization ...
Search domain medium.com/coinmonks/integer-factorization-defining-the-limits-of-rsa-cracking-71fc0675bc0ehttps://medium.com/coinmonks/integer-factorization-defining-the-limits-of-rsa-cracking-71fc0675bc0e
Many of our public key methods involve the multiplication of prime numbers. For example the security of RSA is based on the multiplication of two prime numbers (P and Q) to give the modulus value.

There’s a top hit for BTC PRIME NUMBER CRACK and it opened in the medium app, which likely won’t allow cut and paste text. So do as described here: viewtopic.php?f=12&t=58787

But a simple hexadecimal word such as aCac8e where 8 represents the 8th letter of the alphabet seems to exceed the intellectual capacity of far too many. ... so good luck getting anywhere with a wordy article. Heaven help this perverse generation, there going to need it.

[braingrunt]

Don't you think that as soon as they crack bitcoin they will be able to crack all existing network security? As such they can just steal the normal money out of your bank even without their cooperation.

[BeNotDeceived]

Don't you think that as soon as they crack bitcoin they will be able to crack all existing network security? As such they can just steal the normal money out of your bank even without their cooperation.

No, most security dudes on TV, show a password being cracked in seconds are sensationalizing stuff. They’re one example of people, that have to have something to say.

The trick there is limit the number of attempts. In the early days, phone answering machines were easily cracked, by just pressing several keys at once. When the dumb machine heard one tone in the mix, it would listen for the next. My friend and I had fun with this, and created much mischief, lol.

[braingrunt]

Don't you think that as soon as they crack bitcoin they will be able to crack all existing network security? As such they can just steal the normal money out of your bank even without their cooperation.

No, most security dudes on TV, show a password being cracked in seconds are sensationalizing stuff. They’re one example of people, that have to have something to say.

The trick there is limit the number of attempts. In the early days, phone answering machines were easily cracked, by just pressing several keys at once. When the dumb machine heard one tone in the mix, it would listen for the next. My friend and I had fun with this, and created much mischief, lol.

No, they don't have to "attempt" anymore after the math of cryptography is broken. If they can see your tls handshakes and do the math, they can be you, full stop, without ever authenticating themselves even once. You authenticated for them.

The main principle behind cryptography is that you CANT stop someone from seeing your traffic. You can only stop them from doing the math by making it too hard. But if the math is broken then all bets are off.

I am not an expert and there are details which may cause bitcoin to break before other cryptography, but my gut check is that if bitcoin falls then nothing is safe.

[K9]

Quantum computers are not some sort of magic do something instantly no matter how complex it is, reality has rules and limits, amount of work will still equal the amount of results.
A quantum processor will be good at parallel processing much as how your video card works in your computer. You write some code then run that same code multiple times at the same time.
Parallel processing is great for things such as drawing a bunch of pixels on the screen quickly and yes it is better at cracking some types of encryption. People used the PC for mining Bitcoin then they moved to the video card because it was better, but it did not break Bitcoin.
Parallel processing has its downfalls, it is limited and less efficient at performing everyday random tasks; in this case the processor in your computer will out perform a quantum processor.
Bitcoin's algorithm is designed to get more difficult when more processing power is thrown at it, so it keeps a mined block at an average of 10 minutes. When people started using video cards the Bitcoin algorithm adjusted itself.
Bitcoin also already has some quantum or parallel proof encryption built in to it and Bitcoin is open source so if quantum computers ever become viable it would be trivial for anyone to update its encryption to be quantum proof if needed.

[Primary Outcast]

I think a quantum computer might crack the entire digital security system. National security, military, banking... Nothing will be safe. All that stuff was already getting hacked using normal computers.

But maybe that's just fear mongering, I don't know anything about computers, but I know that poop hits the fan soon and only God can save us.