Can we talk about quantum threat to bitcoin?
I understand that it is years away, but won't it take years to upgrade bitcoin? Isn't this where we need to be focused instead of waiting until its a real threat?
Most of you on here are much more informed than I am. What's the current status on the quantum threat to bitcoin and potential long-term solutions?
First get this right.
Yes, I understand that. And many have argued that if bitcoin is breakable, many other things would have been broken first (like bank accounts). However, a centralized organization or company will more easily and quickly adapt than a decentralized one, correct?
Not necessarily.
And who is doing the breaking, realistically?
I think when it comes to a network like bitcoin you have to always assume the worst and assume that a bad actor with enough resources will try to break bitcoin. What that actually looks like, I don't know.
I remember hearing from someone about moving bitcoin to quantum resistant addresses (way over my pay grade) or something and the shear amount of time it would take to move all bitcoin with the limited block space means that an upgrade of that type would take many many years.
Again, over my head but I would think that instead of discussing how quantum isn't a realistic threat right now we should address what to do if it is in 10+ years.
I don’t fear it (and I’m not saying you do), and there is work being done in bitcoin space, as well. Look up “post quantum bitcoin github” for example, but there are other groups, as well.
Cheers!
Quantum computing will be subject to government regulation and likely employed as a strategic weapon. States may seize Satoshi’s one million coins, along with all lost coins that cannot be moved to quantum‑resistant addresses.
That is my understanding. And it would take years to move all coins to quantum resistant addresses.
There is no threat at the physics level.
The “threat” is a story of trust and upgrades; a story appended to an inherited idea of what a quantum computer is; rather than objectively looking at the one right in front of you that’s been a running since1/3/2009.
Bitcoin is the threat to the centralized quantum models. The proof is in the work; go verify it.
