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What will happen with the price of bitcoin if quantum computer with enough q-bits will be invented?
by Egregore 13y ago
What will happen with the price of bitcoin if quantum computer with enough q-bits will be invented?
- oleganza 13y agoMost probably, quantum computer will not be invented overnight. Hash functions are not seriously vulnerable, but ECDSA signatures are. Fortunately, most funds are sitting on never-used addresses which are basically the hashes of the public keys, which are not instantly crackable by a quantum computer. People will probably have time to switch to a new signature method which is resistant to QC. Like Lamport Signatures, for instance. http://en.wikipedia.org/wiki/Lamport_signature http://en.wikipedia.org/wiki/Lamport_signature The price will dip, but may recover pretty quickly, like when the famous v0.7/v0.8 fork that happened this March. If the Bitcoin can't be fixed and becomes unusable, its value will instantly become zero and everyone's savings in it will become permanently lost.