How are Bitcoin updates and quantum computing being managed?

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ColdViperSenior Member
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#1May 22, 2017, 09:22 PM
I’ve noticed a lot of people think quantum computers could be a real threat to Bitcoin!! But honestly, I believe Bitcoin will adapt and evolve to handle quantum tech, so it shouldn't be a huge issue. That said, I can’t help but wonder... if someone were to try and mess with the Bitcoin system or its data using quantum computers before any updates roll out, would that even be doable? I’m really curious to hear what blockchain and Bitcoin experts think about this, as well as anyone working on quantum tech and innovations!
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guru777Full Member
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#2May 22, 2017, 10:51 PM
Quantum computers are mostly just FUD pushed by various fraudsters. For example, people from the Ethereum Foundation were listed on Google’s report, which suggests to me that it was paid promotion. Quantum computers are still decades away, at least another 50 years. Before they affect bitcoin money, they will first be used in other areas such as fiat systems, banks, Visa, Mastercard, and many industries Bitcoin will be updated to protect against quantum-vulnerable addresses long before quantum computers become a real threat, so there is no need to worry. Vitalik and Scam Bankster-Fraud https://www.youtube.com/watch?v=aWbnaEBR3u4
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laser420Full Member
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#3May 23, 2017, 01:42 AM
Just the other day I was reading similar article and it doesn't seem like quantum computers are a myth or a false alarm to cause FUDs as given, but an awareness that in the near future or so (which isn't immediate), that such treat to bitcoin network may come to existence as the technology on quantum computers evolves. But at same time it provided some relief of protection for bitcoin users through a proposed invisible public key address format which quantum computers can't be able to decifer through.
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DarkR0ck3tFull Member
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#4May 23, 2017, 04:11 AM
Honestly I haven’t really done enough research on how this QC issue could affect Bitcoin, because it’s too technical and I’m not really that kind of guy. So for now I just trust the people who are more into the tech side, and the fact that they still choose to invest in or hold Bitcoin despite all these rumors about a possible threat tells me something. That’s why I think maybe we are just overreacting, or the pro-Bitcoin experts are not that worried anymore because they already know Bitcoin won’t just be destroyed by QC.
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CalmYieldSenior Member
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#5May 23, 2017, 11:59 PM
There are most likely hidden vulnerabilities in the code behind Bitcoin right now and we do not shake our feet in despair that Bitcoin may be damaged if such a vulnerability is found and exploited before it is fixed. If they can attack cryptography, there are reasons they would be very big idiots to use that on Bitcoin before any other thing.  You can affect NASA, FBI, CIA, you can gather a lot of information no body else ever could before and some foreign countries or even some individuals would want that information for a LOT of money. Attacking Bitcoin really is stupid.  You may be able to steal but if that can be fixed and reverted, it means all the effort has been consumed on nothing.  If it actually works and can not be reverted because people are giving up on Bitcoin in fear, it means all the efort has still been consumed on nothing.  Unless they only want Bitcoin to die. But if you were leading The United States and owning the most powerful computer to exist that could actually attack cryptography, I am assuming even you would still pick other things to attack and exploit such as Russian and Chinese intelligence way before even thinking about touching Bitcoin with an attack.
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sage_moonSenior Member
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#6May 24, 2017, 04:55 AM
Quantum computing isn't intended to harm Bitcoin; it has other goals. If it manages to break current cryptography, that's collateral damage. Besides, there are more important things than this, such as the security of the entire planet, banks, governments, and everything you can imagine in the digital world. Furthermore, given the cost, I assume it will be many years before this technology is commercially available for home use and reaches households in a personal format. However, post-quantum cryptography is currently being studied, so I don't think Bitcoin will have any problems systematically migrating to these technologies. The only possible problem I foresee (hypothetically speaking) is that if the technology is very expensive at some point in the distant future, to migrate and use these technologies, we might have to resort to third-party platforms to maintain security, putting current decentralization at risk. Although, systems whose signature verification doesn't require so much computing power are also being studied.
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ColdViperSenior Member
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#7May 24, 2017, 09:00 AM
I was actually thinking about this, because even if it is used, there are many countries whose governments can create obstacles in the future if they spend a lot of money! So even though it is expensive, it remains a risk if the government intervenes, because the government is capable of doing expensive activities and then basically some third system will have to be used for those countries!!
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