D-Wave has made a quantum computer with 5000 qubits. Can it be used to crack symmetrical cryptography? No, it can't use Shor's algorithm as intended and it isn't really a true quantum computer.

If they have really achieved such a quantum computer, I can guarantee you personally that they won't bother to attack any blockchain technology. TLS and web encryption are the treasure trove to them. Getting a bunch of Bitcoins from old addresses with exposed public key is NOT worth their time at all, believe or not.

Anyways, you can always implement quantum resistant algorithm and it is not too hard to fork it.

Don't get me wrong, but when bitcoin started to climb into the $19k-$20k levels, I've seen a lot of threads about Chinese + bitcoin again, specially coming from newbie accounts. Is this another set of FUD coming from China again? Makes me wonder.

As far as quantum computer breakthrough or whatnot, if ever there are going to be threat then obviously, we shall go on the next signature algorithm, simply as that.

I don't believe Quantum Computing will ever threaten Bitcoin.

I literally never said quantum computers can't ever attack asymmetric cryptography. I merely stated that its not feasible to attack  cryptography using what we have now.
Okay. Call me ignorant all you want. What you need for a quantum computer to do to specifically attack asymmetric cryptography is to be good at factoring. As of now, I haven't seen any of them that are efficient enough to crack keys. D-Wave designed quantum computers with a high qubit using quantum annealing but that isn't suitable to be used with Shor's algorithm because you'll need fast factoring. There, you have discovered a computer with a high qubit but isn't effective when used against asymmetrical cryptography.

With that respect, it's like comparing to having a sports car on earth and a sports car in space. The latter is absolutely useless without traction.

As with China's new discovery, I won't read too much into it because they only presented a proof of concept which may or may not work. It could very well just be an exaggeration of what we have as of now.

Can you read up on what Shor's algorithm is first? You can't simply defy the laws of physics by "inventing a new algorithm". I believe Grover's algorithm is what you're looking for with cracking symmetric cryptography but that is very easy to counter as well and is likely to be ineffective against Bitcoin or similar implementations.

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I sincerely hope that you didn't just quote my post without any evidence. I would love to see some study done on the effectiveness of using quantum computers that utilises quantum annealing to attack ECDSA or similar cryptography.

I think i even heard this claim that china scientist have breakthrough in quantum computing race , is this kind news repeated popping up as a headline every year? Every time bitcoin reached its peak?
Could be a FUD but one thing i know that europe, US and china has been in this quantum computing race for years , they are claiming shit each other every year and guess what? There is no single case causing bitcoin in threatens , but media loves to play with it, i am not surprising at all.

I was thinking about the same. China doesn't love bitcoin and wants all of it's people to use their own crypto but not bitcoin. Though current quantam machine for is a specific task but bitcoin has became large enough for Chinese government to dedicate a quantum computer to destroy it. It's not time to panic but with bitcoin being defenseless against the future, China would not let bitcoin becoming stronger than itself.

The entire internet needs quantum protection, it's not like Bitcoin is the only one "we should fear" for. In fact, an online bank is probably easier to break than the entire Bitcoin blockchain.

But again, QCs are not going to be mainstream soon enough to represent an issue for us. Meanwhile, the proper precaution will likely be taken by the devs and we will have a quantum resistance as well. If you're this concerned about publicly exposed information about computer developments, then just imagine what 3-letter agencies were secretly able to create.. tech we have no idea about yet.

Not chinese bot just one of first things that's had me genuinely concerned about future of bitcoin lately - and since I own it it would be irresponsible not to follow up


Thanks for replies all very helpful

I don't think that a country which was not even able to effectively control the pandemic and even tried to hush it's own doctors did this by themselves. They might have used some resources and even use the existing technology regarding the quantum computing. Right now if China will have this technology I do think that *Bitcoins* should be the least of our worries. They would for sure try and break through all the governmental website. Launch a cyber attack, use this technology for malicious intent. I do believe that the UNESCO would have to step up and then make sure that sign a contract with these countries to make sure they don't use this technology for these purposes.
Don't worry , we already have some companies who are by far way ahead and we haven't heard any incident like *Bitcoins were hacked using quantum mechanics*;* I do think it's not as easy as it sounds.

I don't see any reason for us to be concerned cause it was once said that it will take 10,000 years before a 4000 qubit quantum computer that can break blockchain will be developed infact the qubit of the new breakthrough quantum computer just developed by the Chinese was mentioned so it could just be a hype cause it will be 10,000 years before we can be concerned of blockchain been break by any supercomputers.

Exactly. Bitcoin is not the treasure trove at all, not for the effort and cost they'd have to put into it. So much more low-hanging fruit, with priceless value attached. Secrets and knowledge is always going to be worth more to anyone who wants to profit from this.

Ditto on change of algorithm. Developers will be acutely aware of such needs should they present true threats.