r/BitcoinCA • u/G72-datsun • 9d ago
Quantum v Bitcoin
Stupid question as I’m a total newby to crypto. I’ve read articles suggesting Bitcoin and other digital currencies will be “vulnerable “ to quantum computing in 10 years or so (maybe longer timeline I forget). If it is at risk, what’s the long term plan for that horizon?
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u/BloatedFungi 9d ago
Bitcoin is a living technology. The worst that can happen in my opinion is they might ask users to generate fresh wallet with a new seed phrase generation algorithms.
You can ask any AI chatbot for more details. I can assure you that brick and mortar banks are WAY more vulnerable to any possible hack.
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u/brandonholm 9d ago
This is where brick and mortar banks are less vulnerable because they’re centralized. They can implement PQC rapidly without gaining consensus first, and funds don’t need to be transferred by everyone holding funds, they simply just upgrade and everyone is protected.
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u/Commentator-X 8d ago
Lmao how many Bitcoin companies have been hacked and had millions stolen in the last 10 years vs how many banks have been hacked and had millions stolen?
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u/Vagelen_Von 9d ago
Satoshi's wallets are the collateral of the system. If they will be moved it means the boys in an agency's quantum computer worked overtime.
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u/FlatImpression755 9d ago
I have asked this question for the last 2 years and haven't gotten much in the way of answers. Who exactly would even upgrade the block chain to be quantum resistant?
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u/G72-datsun 9d ago
This is a valid question. Can it even exist in a quantum environment? I really want to like this stuff, just wondering how it would differ from any other new tech fading out. Old example but the Enigma code, the Germans confused the helm out of everyone for a while, but only a while.
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u/nick_c8_vegas 9d ago
quantum is def a viable threat that all sectors are getting ready for. From finance to even security, and airports. It’s a threat to anything that has been computerized. Everyone is making a plan and working towards updates in the next 5-10 years
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u/G72-datsun 9d ago
This is the horizon that scares me. Save for 10 years and zero out. I guess that is a risk with any investment but Moores law isn’t working against silver or gold.
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u/nick_c8_vegas 9d ago
Quantum can take down everything that’s on a computer. Unless you are buying up physical gold and holding it yourself
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u/themindspeaks 7d ago
It’s been a 10 years out risk for about 10 years now. And it may continue to be a ‘10 years out’ risk for the next 100 years. No one is for certain.
Regardless, there are cryptographically relevant upgrades that will occur on the blockchain through consensus via a fork when it materializes. It’s in everyone’s selfish interest to safeguard their own stash and the industry surrounding bitcoin
You will be fine.
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u/NiagaraBTC 9d ago
Quantum Computing is not going to happen.
But if it does, it's not going to be a problem.
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u/numbersev 9d ago
The overall community (miner majority) will fork to an agreed upon version of Bitcoin that is post-quantum capable before Q-Day.