Also I missed the mark on 2 but im gonna drink more coffee and give it another go.
Bitcoin will continue to pump out blocks every 10 minutes and adjust difficulty based on hashrate or total computing power, AI miners included.
Discussion
Can quantum computer find private keys in reasonable time?
That's the challenge, yes for asymmetric encryption keys, it can, is my understanding.
Encryption is based on reallyyy hard math. Quantum comps can do math realllyyyy fast.
Basically any keyspace created by the assymmetric cipher can be chomped through in shorter times unlike we've ever seen.
Granted, this is all theoretical.
If it can then it will break bitcoin as anyone with that option could pick up Satoshis stack or any other.
Yes, Bitcoin will need to adapt if this becomes a reality.
Bitcoin can adopt quantum-resistant signatures if needed via soft-fork.
The controversial question is whether to make old, vulnerable coin unspendable, or let it fall into the hands of quantum pirates.
Quantum pirates 𤯠wild to even consider. Thanks for sharing.
Yeah, the old, unmoved coins attributed to Satoshi represent an enormous bounty for quantum researchers to plunder, hence âquantum piratesâ. đ
Also thanks for pointing out signatures, I think I was conflating terms. Bitcoin uses encryption based on elliptical curves in its public/private key pair for digital signatures to sign transactions. It also uses a hash function sha-256 but I don't think hash is vulnerable to quantum.
Yeah, Iâm not sure to what degree quantum could be used to mine. But if so, the difficulty readjustment should account for it.
In the unlikely event that SHA256 was totally solved (trivial to find a nonce that yields all zeros), the network could soft-fork in additional constraints. It would be ugly, but Bitcoin would survive.
Makes sense to me đ§ĄâĄď¸đš this dude was already asking about it quantum attacks before he knew what the halving wasâŚ.. he got his answers but I still donât he understands 256 encryption in general or the purpose / function of quantum
Computers nor the fact that bitcoin is and can be programmed to prevent bad actors using new tech if need be. He went straight into the veteran holdrâ whoâs bored and half drunk just talking hypothetical shit. But it really
Got him
Hung up on EVeRYThInG
Quantum is an example of a slow-moving disaster risk. Itâs not going to pop out of nowhere. Incremental progress will be observable long before itâs a critical issue.
Bitcoin can fork in additional signature schemes and/or additional proof-of-work constraints. Even if a hard fork is required for something, Bitcoin still wins.
Consider a hypothetical death-knell bug that requires a hard fork to fix. One or more competing forks will emerge. One of those will achieve economic consensus (has all the value). Weâll call that chain âBitcoinâ and keep moving. Anyone who argues âthatâs not real Bitcoinâ is free to remain on the dead chain.
I donât think such a situation like this is likely to come to pass. But if it did, everything would be OK, eventually.
It would be good to adopt it before quantum computing can break existing ones. Even with that it won't be cheap in the beginning but still. Any ideas when is it coming?
Not really. Especially if youâre not being targeted. Multisig
, extra odd words and or PIN numbers that lock after multiple attempts to enter the physical device also help a lot.