4 ms·

Would that mean that 1027 qbits would be enough to obtain bitcoin private keys, which is 256 bits private keys?

vlovich123 5y ago
No. ECC is different from RSA because elliptic curve cryptography uses a more advanced mathematical basis than factoring primes. That 256 bit ECC key is worth a 3072 bit RSA keys. At some point though people with access to quantum machines will be able to break that encryption.
- xvector 5y ago
  Bitcoin is dead
  - me_me_me 5y ago
    Bitcoin? You mean entire https web. Financial+banking sectors would collapse? Or had to build private trusted networks? I dont even know what could be done.
    - xvector 5y ago
      Everything else - financial sector, web, etc - would move to quantum resistant PKI algorithms. It will take time and there will be issues, but that's mostly because management is dumb and incompetent and will postpone quantum resistant PKI until it's causing a lot of financial loss. The blockchain is in particular trouble because it's decentralized. Every wallet holder would have to re-sign their transactions with quantum resistant key pairs. But this is unlikely to happen to a good number of wallets (eg Satoshi's wallet), meaning a bad actor will crack the wallets that haven't done this one by one. They will then accumulate a truly ridiculous sum of Bitcoin and devalue it for everyone else. In fact, if someone did develop a quantum computer, they'd probably not announce it - letting it passively crack wallets, slowly accumulating vast sums of wealth, and also decrypting communications at the behest of intelligence agencies. It will likely be years after the development of such a computer that we will actually know it existed.
      - vbezhenar 5y ago
        > The blockchain is in particular trouble because it's decentralized. Every wallet holder would have to re-sign their transactions with quantum resistant key pairs. But this is unlikely to happen to a good number of wallets (eg Satoshi's wallet), meaning a bad actor will crack the wallets that haven't done this one by one. They will then accumulate a truly ridiculous sum of Bitcoin and devalue it for everyone else. There will be some deadline after which old wallets just will not work (essentially destroyed). So Satoshi's wallet finally will vanish.
  - dogma1138 5y ago
    Switch to a more resistant algorithm with a fork sign all the blocks preceding the fork through a consensus using the new method and carry on.. Bitcoin should die for many other reasons but I don’t think QC is what will kill it, I hope at some point rationality will. Crypto does represents just how broken our financial/economic system is and how easily you can push so much wealth into a non productive bubble.

No. ECC is different from RSA because elliptic curve cryptography uses a more advanced mathematical basis than factoring primes. That 256 bit ECC key is worth a 3072 bit RSA keys. At some point though people with access to quantum machines will be able to break that encryption.

xvector 5y ago
Bitcoin is dead
- me_me_me 5y ago
  Bitcoin? You mean entire https web. Financial+banking sectors would collapse? Or had to build private trusted networks? I dont even know what could be done.
  - xvector 5y ago
    Everything else - financial sector, web, etc - would move to quantum resistant PKI algorithms. It will take time and there will be issues, but that's mostly because management is dumb and incompetent and will postpone quantum resistant PKI until it's causing a lot of financial loss. The blockchain is in particular trouble because it's decentralized. Every wallet holder would have to re-sign their transactions with quantum resistant key pairs. But this is unlikely to happen to a good number of wallets (eg Satoshi's wallet), meaning a bad actor will crack the wallets that haven't done this one by one. They will then accumulate a truly ridiculous sum of Bitcoin and devalue it for everyone else. In fact, if someone did develop a quantum computer, they'd probably not announce it - letting it passively crack wallets, slowly accumulating vast sums of wealth, and also decrypting communications at the behest of intelligence agencies. It will likely be years after the development of such a computer that we will actually know it existed.
    - vbezhenar 5y ago
      > The blockchain is in particular trouble because it's decentralized. Every wallet holder would have to re-sign their transactions with quantum resistant key pairs. But this is unlikely to happen to a good number of wallets (eg Satoshi's wallet), meaning a bad actor will crack the wallets that haven't done this one by one. They will then accumulate a truly ridiculous sum of Bitcoin and devalue it for everyone else. There will be some deadline after which old wallets just will not work (essentially destroyed). So Satoshi's wallet finally will vanish.
- dogma1138 5y ago
  Switch to a more resistant algorithm with a fork sign all the blocks preceding the fork through a consensus using the new method and carry on.. Bitcoin should die for many other reasons but I don’t think QC is what will kill it, I hope at some point rationality will. Crypto does represents just how broken our financial/economic system is and how easily you can push so much wealth into a non productive bubble.