(06-09-2021, 01:11 AM)Thryleon date Wrote:As for my trust in bitcoin, I have none, I am/have purchasing/purchased none, and quantum computing, will render it worthless, because what takes years to create on the blockchain, will take minutes to solve on a quantum computer.I remember just a year or two back Google claiming it's handful of qubits quantum computer had just solved a problem that would take a supercomputer hundreds of thousands of years to solve, then IBM fired back by demonstrating the very next day it's silicon based supercomputer solving the same problem in 18 minutes. Google hadn't done the math correctly, they forgot math is analogue and computers are digital, even quantum computers!
All of these systems depend on the base infrastructure, and they assume the systems are secure from that very first step. But as the Comancheros discovered yesterday with their encrypted communications app, assumption is the mother of all feck ups! Blockchain as a distributed ledger is a revolution, it'll become the backbone of many data base services to deliver reliability and traceability, but thinking it is infallible is a human failing.
As for quantum computers, the ability to break encryption is theoretical, recent work suggests that designing those algorithms for a Quantum computer is many orders of magnitude harder than people think. Sure once you've got the reliable algorithm you have an advantage, but getting it might not be so easy.
"Ruck, ruck, ruck, ruck ....... Ruck, ruck, ruck, ruck"