posted Thu, 10/24/2019 - 03:03
1060
Bitcoin Private Keys could be cracked With Quantum computers
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Google has left everyone awestruck with it's latest technological development of quantum computer which claimed to hold the potential of handling intricate calculations in seconds. while on the other hand the entire procedure for bitcoin mining and transaction based and secured by complex mathematical structures, which are almost impossible to breakthrough. though not sure for how long with the new quantum approaching.
This news has shaked many bitcoin holders and traders worried of losing their BTC, though this time it's not about price it's something much bigger than that, something that can change the fate of crypto industry from its core.
News Source: TheCoinRepublic
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AnonLol did you join eroids just to post this?
No other activity..dumb.
with enough time and "brute force" anything can be hacked.
...he says stating the obvious. So do you have 200 years to spend in the attempt? Or do you spend 1 billion dollars to hack 1 million dollars? Or both?
I'm just stating the obvious, I don't actually know anything about hacking. Well I did watch "Live free or die hard" and All of the "Matrix" films and "sword fish" and that one with Angelina Jolie I forget the name of.
The one with Angelina is Hackers - great movie. That really got me into tech. Was really disappointed that hacking wasn’t graphic lol.
No need to know how to hack, you paraphrased the very definition of modern cryptology...
Hence my asking you, "how long and for how much".
Well just for the theoretical discussion , I would try to find people who actually know the source code surrounding Bitcoin like former employees and such using them would seriously shave off the amount of time and money it would take to crack it otherwise its basically impossible.. And to the OP of the topic, quantum computers have been around since the early 2000's I estimate, The NSA , NRO and other black agencies have had them for decades, matter of fact the cutting edge technology we as civilians see in front of us the government/military has 15 to 20 years before we ever see it.
The bitcoin source code is open. That's why we have so many forks and spin offs like Litecoin and bitcoin cache.
The bitcoin blockchain has built in difficulty adjustments designed to keep each block mined at 10 minutes. (more miners = more difficulty, less miners = less difficulty.) Difficulty is readjusted about every 2000 blocks up or down as needed.
lol and because you know these things you are in the position you are and who you are.
I on the other hand don't know these things, I had to google bitcoin mining ...learn something new everyday.
And when they do actually go into service anything "could" be hacked
AnonGo buy a quantum computer then..
Click bait news. They're still nowhere near the speed to effect cryptology yet and would be cost prohibitive today (the attempt to hack the blockchain would cost more than the payout). When it does happen all cryptology is threatened, not just bitcoin.
It also does not address the ability to change the code to add additional security features.