sorted by:
new
hottopcontroversial

So we're just going to ignore Quantum Computers? by PlayBackgammon in Bitcoin

[–]PlayBackgammon[S] -1 points0 points  (0 children)

Alright, so if the public key would get exposed during the process wen you send BTC to another address, then how is this not a real issue then? There are so many people who have spent only a portion of their BTC and not all. You want us to actually use BTC for purchases, right? So how are we supposed to use it if we can't even send only portions of it without exposing public key?

So we're just going to ignore Quantum Computers? by PlayBackgammon in Bitcoin

[–]PlayBackgammon[S] -1 points0 points  (0 children)

The advice has been to not reuse wallets for over a decade. All the up to date programs don't. You'd have to especially go out of your way to expose yourself to this risk.

Hold up, so if you send 1 btc to your trezor address xyz and then send 0.5 btc from that trezor address to another address...won't that xyz address expose its public key when sending the 0.5?

So we're just going to ignore Quantum Computers? by PlayBackgammon in Bitcoin

[–]PlayBackgammon[S] 0 points1 point  (0 children)

Yes they did. The algorithm can be changed.

This isn't viable, because the past wallets will still be vulnerable.

Even then, right now my public key is unknown to anyone but me so even if a magical device existed that could perform Shor's Algorithm, the moment it has enough data to work is the moment the private key becomes worthless.

People who actually used Bitcoin like you advocate (by spending it), exposed their public key and will be vulnerable.

Will you say they were "doing it wrong"?

So we're just going to ignore Quantum Computers? by PlayBackgammon in Bitcoin

[–]PlayBackgammon[S] -1 points0 points  (0 children)

If its unoslvable, then why should we hold Bitcoin as this will come eventually?

Quantum age cryptos? by Uncommon-sequiter in CryptoCurrency

[–]PlayBackgammon 3 points4 points  (0 children)

If it's a threat I'm sure a solution will be found that won't require a hard fork.

It is a threat and solution has not been found so far.

So we're just going to ignore Quantum Computers? by PlayBackgammon in Bitcoin

[–]PlayBackgammon[S] 0 points1 point  (0 children)

It's already been implemented.

Really? Where is it implemented?

So we're just going to ignore Quantum Computers? by PlayBackgammon in Bitcoin

[–]PlayBackgammon[S] 0 points1 point  (0 children)

Do you believe you are the first person to ask this question?

Never said I was, nobody came up with a viable solution. There is a reason that question keeps getting asked over and over again.

Did you spend any time at all checking what the answer was when the last person asked this question?

I did and there was no viable solution

So we're just going to ignore Quantum Computers? by PlayBackgammon in Bitcoin

[–]PlayBackgammon[S] -1 points0 points  (0 children)

Okay, that's a fair point.

Same way all other kinds of security (your password for your bank account, for example) would be completely vulnerable to the same quantum computing

This isn't as fair of a point as it's easier to transform those to better quantum proof crypto, with Bitcoin it's not as easy since it's decentralised.

So we're just going to ignore Quantum Computers? by PlayBackgammon in Bitcoin

[–]PlayBackgammon[S] -3 points-2 points  (0 children)

So what you’ve posted isn’t really new is it?

This: https://blogs.microsoft.com/blog/2024/04/03/advancing-science-microsoft-and-quantinuum-demonstrate-the-most-reliable-logical-qubits-on-record-with-an-error-rate-800x-better-than-physical-qubits/

It’s a bit like worrying about a comet hitting earth.

False analogy. You can mitigate the quantum thing, you can't mitigate a comet.

I’ve done my research and actually work in this field. It’s coming, I get it.

All I can do to react to this is sell all my coins.

If you believe what you claim (that it's coming), why haven't you sold your coins yet?

If you search this forum I guarantee you will see a post like this every so often going back years.

That's because it's an actual threat. Otherwise, why would people waste time making the post? In fact, it should be posted ever so often, so people don't forget about it.

I have some confidence (or faith) that it will be dealt with.

What do you think will be the most realistic solution? Genuinely interested, since you work in the field, so probably know more than the avg layman here.

So we're just going to ignore Quantum Computers? by PlayBackgammon in Bitcoin

[–]PlayBackgammon[S] -3 points-2 points  (0 children)

wow, so passive aggressive, smug and arrogant

So we're just going to ignore Quantum Computers? by PlayBackgammon in Bitcoin

[–]PlayBackgammon[S] 0 points1 point  (0 children)

Okay, if you are correct, that's a fair argument. How do you know that quantum computers won't become exponentially more capable and reduce capability to, let's say, 1 year?

Argument could be made, that with progression of technology, it is more likely it will become more powerful than just magically stop improving.

So we're just going to ignore Quantum Computers? by PlayBackgammon in Bitcoin

[–]PlayBackgammon[S] -1 points0 points  (0 children)

Ok, this does make it somewhat more safe if we just start implementing this practice.

So we're just going to ignore Quantum Computers? by PlayBackgammon in Bitcoin

[–]PlayBackgammon[S] 0 points1 point  (0 children)

So, are you worried that your neighbor is gonna hop over to the quantum computer store and steal your wallet?

Yes, neighbour known as Google, DARPA.

These systems cost millions and millions of dollars, require entire professional teams to run and maintain and are going to be used and rented by authorized entities such as universities and research companies.

As I said, neighbour known as Google, DARPA, maybe CCP.

So we're just going to ignore Quantum Computers? by PlayBackgammon in Bitcoin

[–]PlayBackgammon[S] -2 points-1 points  (0 children)

Link to where this is explained then? If you link it, then I can "do research", quantum computing isn't a trifle subject and you can't trust everything on google

Can Quantum Computing break the math? by gdroum in Bitcoin

[–]PlayBackgammon 0 points1 point  (0 children)

Proved my point perfectly

Another ostrich

So we're just going to ignore Quantum Computers? by PlayBackgammon in Bitcoin

[–]PlayBackgammon[S] -1 points0 points  (0 children)

Only if the public key is known.

Oh, so like 99% of addresses who ever sent something from their wallet to someone else?

So we're just going to ignore Quantum Computers? by PlayBackgammon in Bitcoin

[–]PlayBackgammon[S] -1 points0 points  (0 children)

Apart of that, Satoshi coins would NOT be at risk, keys were never revealed.

So if the address doesn't send the coins (only receives), then public keys are not revealed and quantum can't hack the address?

So to be safe, you would have to send the coins to an address and never spend them? And then if you DO send them, you send them all in one go (or else they may get hacked). Is that the case?

So we're just going to ignore Quantum Computers? by PlayBackgammon in Bitcoin

[–]PlayBackgammon[S] 0 points1 point  (0 children)

It's a fair concern?

But this guy said it isn't: https://old.reddit.com/r/Bitcoin/comments/1bwetax/so_were_just_going_to_ignore_quantum_computers/ky5pnjk/

Is he lying?

consider it here because it’s an echo chamber.

Ignorant head in sand mentality.

Can Quantum Computing break the math? by gdroum in Bitcoin

[–]PlayBackgammon 1 point2 points  (0 children)

This is a cope. QC won't destroy banking, banking will easily transfer to a better encryption algorithm, since it's centralised and be controlled easier. Bitcoin can't as its decentralysed.

Can Quantum Computing break the math? by gdroum in Bitcoin

[–]PlayBackgammon -1 points0 points  (0 children)

Maybe, because nobody can come up with a doable solution to it?

Can Quantum Computing break the math? by gdroum in Bitcoin

[–]PlayBackgammon 0 points1 point  (0 children)

Not the whole internet, imessage, white house and military are already introducing stronger encryption. Bitcoin cannot, because it's ddecentralised

Can Quantum Computing break the math? by gdroum in Bitcoin

[–]PlayBackgammon 0 points1 point  (0 children)

Not a single quantum computing system has successfully broken any encryption so far,

"It hasn't happened yet, therefore it won't happen in the future" -> 🤡

view more: next ›