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26519345 No.26519345 [Reply] [Original]

This heavily harms Bitcoin's long term value, especially in the eyes of institutional investors who take Deloitte's word like gospel.

Source:

https://www2.deloitte.com/nl/nl/pages/innovatie/artikelen/quantum-computers-and-the-bitcoin-blockchain.html

>> No.26519804

so about 5M bitcoin. why are the others safe?

>> No.26519819

If bitcoin is vulnerable to theft from Quantum Computing, then everything else on the planet is also vulnerable. Quantum is a meme, anyway. Like self driving cars on the roads, we won't see it anytime soon. Not in our lifetimes.

>> No.26519853

>>26519345
still can't break SHA-256
cope more

>> No.26519975

25%? Bech32 adresses?

>> No.26520012

>>26519804
The 5 million are probably what people keep on exchanges. Sure those are able to be hacked with meme computing

>> No.26520107

>Like self driving cars on the roads

Terrible example. Although I agree with the overall sentiment.

>> No.26520108

>>26520012
No they are the ones that were mined early on in Bitcoin's lifetime, as they are stored on older wallets and havent moved in years and those wallets are much more vulnerable to Quantum for reasons requiring a high understanding of cryptography.

The article I linked details it and explains it well

>> No.26520163
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26520163

>>26519345
DR; NS

>> No.26520197

>>26519975

p2pk and reused p2pkh addresses are highly vulnerable to Quantum algorithms like Shor's. Experts estimate these coins could be vulnerable as early as 2027 if the current rate of advances in Quantum tech is sustained and earlier if any major breakthroughs are made

>> No.26520247

>>26520108
I have an Electrum wallet V 4.0.2
Is it safe?

>> No.26520285

>>26519804
they dont use p2pk and reused p2pkh addresses which are highly vulnerable to Quantum algorithms like Shor's.

>> No.26520299

>>26520012
That makes no sense

>> No.26520365

>>26520299
He's talking out of his ass and didn't read the article. I replied to him with a good explanation

>> No.26520370

>>26519345
>>26519804
>>26519819
>>26519853
>the year is 2025
>a quantum computer slurps up 5m bitcoins
>core dev fork in quantum resistance
>BTC hits 1 million dollars by end of decade
oh nooooooo

>> No.26520383

>>26519345
>Deloitte says 100% of traditional financial markets is vulnerable to theft by Quantum Computing.

>> No.26520388
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26520388

>>26519345
Oh nooooo, not the goddamn memequanteri((nose)), we've all got to sell our bitcoinerinoooos, think of the 6 googillions that would be burned by this. SELL SELL SELL.

>> No.26520536

>>26519345
Literally the entire internet is protected by the same type of encryption.
If encryption falls, crypto is the least of anyone's worries.

>> No.26520564
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26520564

>>26519345
>Bitcoin's long term value
>institutional investors

>> No.26520587

>>26519345
memes aside, i don't understand what goes on in the mind of smoothbrains. they freak out about crypto whenever quantum computing is mentioned, despite quantum computing being a solved problem in crypto (fork, move to quantum resistant algorithm). and they don't worry about all the companies, hospitals, airports, local power infrastructure, water supply running on legacy systems with no clear upgrade path to anything quantum resistant

>memes aside, i don't understand what goes on in the mind of smoothbrains. they freak out about crypto whenever quantum computing is mentioned, despite quantum computing being a solved problem in crypto (fork, move to quantum resistant algorithm). and they don't worry about all the companies, hospitals, airports, local power infrastructure, water supply running on legacy systems with no clear upgrade path to anything quantum resistant

memes aside, i don't understand what goes on in the mind of smoothbrains. they freak out about crypto whenever quantum computing is mentioned, despite quantum computing being a solved problem in crypto (fork, move to quantum resistant algorithm). and they don't worry about all the companies, hospitals, airports, local power infrastructure, water supply running on legacy systems with no clear upgrade path to anything quantum resistant

>memes aside, i don't understand what goes on in the mind of smoothbrains. they freak out about crypto whenever quantum computing is mentioned, despite quantum computing being a solved problem in crypto (fork, move to quantum resistant algorithm). and they don't worry about all the companies, hospitals, airports, local power infrastructure, water supply running on legacy systems with no clear upgrade path to anything quantum resistant

>> No.26520627

>>26520564
Im saying that they won't enter due to reports like this by top consulting/financial organizations.

Institutions actually do research before buying.

>> No.26520693

>>26520370
Miners would not support this as it would render their expensive ASIC farms useless.

They would be shooting themselves in the foot financially forever if they did it, wont happen.

>> No.26520713
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26520713

>>26520383
This. If bitcoin is susceptible to quantum computing then this essentially makes the entire traditional system an equivalent of an unguarded kettle of gold set out in the open.

Good luck with that. Im still not selling them my BTC.

>> No.26520743

>>26520627
>Institutions actually do research
buy rubic

>> No.26520813

>>26519345
Ah, yes. All a hacker needs is a simple quantum computer. Where the fuck are they supposed to get one, Best Buy?

>> No.26520866

>>26520587
Exactly.
Let's assume Deloitte is correct. 25% of BTC is vulnerable.
But what is Deloitte really missing here?
100% of traditional banking, utilities, etc. systems are vulnerable... with no clear path to mitigate and not enough time.
Unironically, Deloitte putting this out into the ether is a massive, massive plus for BTC.
>Anti-fud detected.

>> No.26521068

used to work for deloitte
state of the art wagecuck company

the bottom 70% does all the work and earns next to nothing while fucking directors and partners buying play golf with ceos and buy porsches

>> No.26521093

>>26520866
I think traditional banking can be shifted away from Quantum vulnerable cryptography much more simply than Bitcoin can, as miners voting to fork would render their ASIC's useless, and ASIC's are pretty much 99% of the hashrate right now

>> No.26521287

lmao I work at deloitte please dont listen to these fucking retards

all these articles are just manufactured schlop written by fresh grads to help secure client work

>> No.26521336

>QC is a threat to bitcoin
>implying it isnt a bigger threat to literally everything else

>> No.26521605

>>26521093
>I think traditional banking
>I think
It's probably time for you to stop thinking.
You are not a software engineer (I am) and you have no idea what legacy financial systems are built with in the traditional banking sector.
COBOL & Fortran is still fucking everywhere.
>attemp to post BTC FUD. Y
>Unironically post a pro-BTC article.

>> No.26521611

>>26520693
They wouldn't have a choice, and it isn't as bad as you think. There is plenty of info available on the subject of quantum scenario for BTC, and I've sat through a couple presentations on it in person.

Basically, if a quantum system comes to be that can break SHA-25, then the same quantum tech can be used to update the encryption... It is really weak, low tier FUD.

>> No.26521789

>>26521605
>COBOL & Fortran is still fucking everywhere.
this, i fucking hate it