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we've been 10 years from cold fusion for 50 years. No one who has a quantum computer would tell anyone. This is just marketing to drive investment in abc.

SLCW 1y ago

You want to bet on that? You want to bet the security of the blockchain based on the timing of a completely different technology? I think that's wildly irresponsible. You can't say the warnings about the progress of quantum computing are bogus based on the development of cold fusion. That's just irrational. And quantum computing has a significant better established track record, and demonstration of progress than cold fusion. One has nothing to do with the other.

It would be the height of irresponsibility to just put our heads in the sand and hope for the best. Whether it's 5 years, or 10 years, the future is clear. It's coming. A plan to upgrade the blockchain with quantum resistant encryption is the only responsible course of action. We can't afford to just cross our fingers and hope.

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BitcoinStu 1y ago

It sounds like you have insufficient information about both quantum computing as well as cold fusion. Stop reading media headlines.

SLCW 1y ago

Lol you don't know me or the basis of my information. So stop pretending you do. My degrees and professional experience give me a solid basis to evaluate technology claims, and see what's coming with regards to quantum computing. And my participation with Bitcoin since 2011 gives me an extensive understanding of the blockchain and its encryption.

My entire point is that a time is coming when quantum computing will pose an existential threat to the blockchain, and we would be wise to start planning now for the task of upgrading the blockchain's encryption. Any other response is irresponsible, and potentially puts the entire Bitcoin ecosystem in jeopardy. The specific time line is irrelevant, as are any comparisons to other unrelated technologies.

BitcoinStu 1y ago

I only know you from what you say. Clearly you're uninformed about the progress toward cold fusion.

For someone involved in bitcoin, allegedly, since 2011 you seem woefully unaware of the work that has been done on quantum resistant addresses and mining in Bitcoin.

You also seem unaware of what would be required to do such an upgrade. You say something quite naïve like "it might be painful at first". How exactly do you propose we change the mining algorithm out on a running blockchain? Just tell the global mining community to throw away their asics and start building new chips that run a quantum resistant algorithm?

You sound like a guy who read some media hype headlines about quantum computers, got scared, and ran to twitter to create a moment to "make bitcoin quantum resistant" with little to no understanding of the work that has been done so far nor the practical implications of doing so

SLCW 1y ago

https://arxiv.org/html/2410.16965v1

This is my last post in this thread. I'm not going to continue trying to have a good-faith, civil discussion with someone who has done nothing but make baseless assumptions about me, and engage in insulting commentary. You're clearly a self-important asshole, and I have no patience for people like you. You are beneath me and not worth my time. And you're blocked so you might as well just kick rocks.

BitcoinStu 1y ago

Good faith? You claim to be involved in Bitcoin since 2011 which is almost certainly a lie. Nothing that you've said is good faith, it's just hyperbolic panic over something you don't really understand. I was trying to help you understand that better but your fear has blinded you.

You should sell your bitcoin now because there is a 0% chance the algorithms will be swapped out for a quantum resistant anytime soon.

BitcoinStu 1y ago

quantum computing, if it's actually possible to build, and I'm quite skeptical about that, would pose an existential threat to all encrypted communication. It would be among the most closely guarded secrets that any military has. The fact that public companies are advertising how much progress they're making is proof that they are making none.

If a programmable quantum computer exists you will not know about it for decades because it will be used in secret and bitcoin will be the least of our problems.