Google Aims for Commercial Quantum Computer by 2029, What Would That Do to Bitcoin?
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17 comments on Google Aims for Commercial Quantum Computer by 2029, What Would That Do to Bitcoin?
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17 Comments
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2 years ago
link to forbes.com
2 years ago
I’ll file this along with cold fusion and self driving vehicles. There’s a huge difference between getting something to work in theory and getting it to work in the real world outside of a laboratory.
2 years ago
Dr. Sabine Hossenfelder has a nice video explaining which companies are ahead and explains the different pros and coms of the different methods of quantum computing.
Quantum Computing: Top Players 2021
https://www.youtube.com/watch?v=OGsu5MIzruw&t=212s
2 years ago
Intersting to know what the implications to mining are. Can QC be used for mining or is the algorithm only suitable for a classical approach? Two impacts: 1. does it undermine the rarity of bitcoin (and so destroy one of the key defining elements of a currency) and 2. does it solve the environmental impact of mining. The environmental impact is surely one of the excuses governments will use to curtail cryto currencies if they feel that they are losing monetary sovereignty. If this disappears as an excuse then it makes it tougher for governments to complain about it.
2 years ago
Google cannot even classify spam messages correctly; > 50% of messages that end up in my spam folder are legitimate. So gimme a break with all this AI/ML/robots/self driving cars/quantum computing. We are likely to kill ourselves before doing anything really useful with it.
2 years ago
link to youtube.com
2 years ago
“Everything” in QC makes sense. Except of “one” thing which I’m yet to grok: How one is to manage super positioned state across many Qbits, such that the “winning” results is indeed coherent and not an arbitrary gibberish.
Put this different. Suppose I have two qbits. They super position store 01 and 10. Now, suppose we would like to get the largest, ie 01 (=2), how the heck the system ensures we don’t get 11, let’s say?
2 years ago
Mish, there are two implications to quantum computing that you did not illuminate:
- In terms of BitCoin, all (past) mining will be almost worthless, since a quantum computer can do the same work in factions of a second.
- In terms of communication, it is theoretically possible to send data to remote entangled qubits instantaneously and without any possibility of eavesdropping. You wouldn’t even need encryption!
2 years ago
I beg to differ. Entanglement means there is 1 (or -1) correlation b/w the items in the pair. But, one is yet to show how to use this for messaging. Observe, that entanglement is shown to be way faster than C. Maybe, there is a way to use entanglement to our advantage w/o violating C as the maximum speed of causation chains (speed of light or messaging).
2 years ago
Hence my use of the word ‘theoretical’
> C is indeed one of the things theoretical scientists have talked about.
I haven’t read much about this the last 10 years, but the communication possibilities are one of the aspects physicists have talked about a lot.
Einstein did not speak of spooky action at a distance for nothing. It is instantaneous action, as with photons that are part of a wave split by interference across two beams/slits.
2 years ago
Nothing more better than an infinitely long password. That can only be generated/stored on a computer.
2 years ago
An infinitely long password will take an infinitely long time to enter/transmit 😉
2 years ago
It could be a necessary step to cracking Fusion. The biggest prize of all.
Forget BitCoin, it’s yesterday already for BC, just they don’t realise it yet.
2 years ago
Who will have access to quantum computers? Will hackers be able to use quantum computing? Will bitcoin whales? Will an employee of some corporation like Airbus be able to use his access to carry out some hack?
I never completely researched this topic, but many articles I’ve read suggested that there will be technological solutions to this problem, by the time it’s a real problem. At the time that I was in cryptos, it was so far in the future it didn’t matter to me.
2 years ago
Can’t you just make bigger keys? If it takes a quantum computer 30 minutes to break a 1024 bit public key, then just jump to 2048 and the time to break would jump to what, 30,000 minutes? Maybe much longer.
2 years ago
As far as i know you cannot change it, i.e. Bitcoin has certain number of digits in a key in its design. if this is hacked it means Bitcoin is not safe anymore. I am sure there will be new crypto currencies available which are quantum safe in future but Bitcoin will be useless, its value will drop to zero.
2 years ago
“But if quantum computers ever become fast enough, the security of the entire blockchain will melt down.”
If quantum computers become fast enough security on everything will melt down.