0 sats \ 2 replies \ @DarthCoin 23 Oct \ parent \ on: 🚨 The "End of Blockchain Bug" That Will Stop Bitcoin! ☠️😱 🚨 bitcoin_beginners
That also is not concerning.
The most stringent thing we should fix is people's idiocy and statism. Otherwise is all for nothing.
That also is not concerning.
Why isn't quantum computing a problem? Has it already been solved?
The most stringent thing we should fix is people's idiocy and statism. Otherwise is all for nothing.
That problem is beyond me, and frankly, I'm not going to waste my breath on it. When people are that stupid, they'll bring everyone else down with them and still come out on top!
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Do you keep your BTC in a legacy address P2PK?
If the answer is not, then you have nothing to worry about QC.
QC is just a boogieman used to scary normies.
While ECDSA is unsafe under quantum computing, quantum computers don't exist yet and probably won't for a while. The DWAVE system that is often written about in the press is not, even if all its claims are true, a quantum computer of a kind that could be used for cryptography. Bitcoin safety when used properly with a new direction in each transaction depends on more than just ECDSA: Cryptographic hashes are the much stronger than ECDSA under QC.
The security of Bitcoin was designed to be upgraded in a backward-compatible manner and could be upgraded if deemed an imminent threat (cf. Aggarwal et al. 2017, "Quantum Attacks on Bitcoin and How to Protect Against Them").
The risk of quantum computers also exist for financial institutions such as banks, because they depend heavily on cryptography when transacting.
Here is a masterful answer on attacks on Bitcoin with Quantum Computing by Andreas Antonopulous.
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