If they did this, comparatively how far are they from cracking SHA-256?
https://x.com/wmhuo168/status/1845117383154729397
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"BREAKING: Chinese quantum computer just cracked multiple SPN algorithms. This is way bigger than cracking the ENIGMA code. The future of encryption is at stake" 🤯
“Even if quantum computing posed a threat to the cryptographic layer, Bitcoin’s decentralized and global network of nodes would play a critical role in driving a transition to quantum-resistant algorithms—an advantage centralized systems simply do not have.”
What transition? We have nothing ready. If someone proved they could use quantum computing moving coins they never had a key to, like Satoshi’s coins, price of Bitcoin would fall 99.99% within a week. If we not gonna have a procedure ready, for quantum attack, Bitcoin will die following such attack. People wouldn’t trust it ever again.
SHA256 has another 10 years i reckon... and sec256k1 probably another 20, before they are "theoretically broken"
it's important to understand that what the media says is the dumbed down, hyperbolic version
the reality is that "breaking" md5 did not mean instantly you could reverse an md5 hash on a hash-sized thing, most likely target being a password, it was just a way to reduce the time a brute force attack would take by a fairly substantial degree... i mean from 100 years down to 30, sorta thing.
"broken" is always used hyperbolically by the media as is "unsafe" by those who have claimed that secp256k1 is "weaker" than edwards ed25519 or other curves... bitcoin is still fully here, and running just fine and nobody has broken a single signature on the chain that wasn't created in a broken way, to recover the key
those keys were dodgy secret keys in the first place, the few cases you can find, that's how they did it, weak entropy, a very small search space to brute force it
breaking sha256 is not going to happen any time soon, and there really is no actual facts behind the hyperboly of Schnorr's algorithm, which can be performed with a quantum computer.
nobody has broken a key with a quantum computer yet in a legitimate, fully dangerous way, and this story most likely is a case of a broken key generation algorithm as well
normies just can't comprehend the time scales and numbers involved in actually cracking these codes, and the press are just pulling eyes so they make it sound a lot more momentous than it actually is
Sha256 is fine, it’s the elliptic curve keys and cryptography I would be worried about.
Someone wrote we got have 10 years but maybe less…
Quibits are hard to deal with in large quantities, too many noise issues. Unless there will be a breakthrough in a form of a new quantum computer design, I don’t think the current approach is scalable to a sufficiently high number of them. But heck, I have no idea about that field to even speculate 😂😂😂
Fair enough
I like the idea of Satoshi helping us from the past, like a wise wizard… 
I would want to hear what Bruce Schneier thinks of this development.
It’s not uncommon for previously robust cryptography to be broken in the course of time. We switched from MD5 to SHA256 for hashing and DSA to RSA for this reason in the past.
Security is a perpetual cat-and-mouse game.
Yes
With regards specifically to SHA256, I’m not worried. If it became too easy to solve Bitcoin block nonces, we can soft-fork in additional difficulty requirements.
Breaking SHA256 means anyone can be a 51% attacker without actually having the hash. So un-upgraded nodes would be vulnerable. But Bitcoin would survive.
Hard fork with something like if you haven't moved your coins in 20 years they are now permanently burned.
