Well since I see most of this board is unironically computing illiterate I'm going to go ahead and redpill you on the real reason why crypto is crashing and is never coming back:
research.googleblog.com
Quatum computing is here, a QComputer can crack all the known cryptographic algos in a reasonable timeframe. Now, think that governments will probably have even more advanced quantum computers so YOU HAVE ALWAYS BEEN ON THE PALM OF THEIR HANDS.
It's been a good ride, but it's over.
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that was all gobbledygook for me. it's a specialized research computer for one or two applications not cracking encryption.
General purpose quantum computing is at least a decade out.
t. person who studied that shit for his master’s thesis
vitalik will lead the way and change us to q resistant algorithms by then
hey user, if youre still in this thread can you give a quick rundown on some things you found interesting or game changing in the field? maybe share some of your predictions on adoption timeframes? potential use cases?
Seems like the hard part is already worked out, I don't think it would take 10 years to program this shit, not when you can break Satoshi's wallet with one. The motivation is there and the hardware is there.
Your opinion on this theory of a back-door weakness of public key encryption?
>
Not to mention most of the codes of nation states.
All the more reason why encryption using Quantum Entanglement will be worth the R&D
Well SHA was developed by NIST, aka the American gov. Theres always been the shadow of it being backdoored but so far nobody has proven that, yet nobody uses SHA for anything really critical as in nukes or milcoms.
True that. I imagine they will break Saotshi's wallet to show the world and have the leverage to ransom whatever they fucking want. Less dramatic that "accidentally" launching a nuke.
Hardware is the constraint. Software will come after.
State of the art right now is supercooled qubits. Not exactly practical to put in a laptop. Yet. However, lots of progress on the “room temperature qubits” front lately. There are also lots of experiments happening with the actual arrangement of the qubits - what’s optimal, what self-corrects for errors, etc.
Also, practical QC breaks pretty much all public key crypto we use worldwide. A government will probably figure it out first. They definitely have people working on it.
so when they say quantum computer, they're full of shit aren't they
a bunch of bits doesn't make a classical computer, you need logic gates, caches, buses, blah blah blah
all they have done is proven quantum states can be observed experimentally which is just confirming old research.
How do we know, say, Russians have one working already? I still can trust in US not going full retard breaking crypto but Putin/Kim/Xi sure as fuck would quietly get those coins and dump them.
Is not about what you can do with the Google thing. Is that governments will certainly be miles ahead of them. Why are you so dense? Are you in denial?
The only way that would work though is if they didn't keep all the money themselves. If they tried that, it would be too easy to lock their account world-wide.
The only way it would work would be to robin hood it. Wipe out the top 100 accounts and spread it out over the bottom 100,000 accounts.
>How do we know, say, Russians have one working already?
as a person living in Russia I hardly imagine that Russia will outperform the rest of the world in the research of qc.
time to stock up on some Nexus
>governments
your mental image of government research programs is reminiscent of comic book movies.
For a fact, we do not actually know if a full quantum computer is even possible.
Ok fellas I rest my case, you have valid points and I don't want to be debating IFs all night long.
I just though that it was worth sharing since I never saw it here, that, and the fact that this news came out the day that BTC could not break out of the channel (the 5th) when it started this last leg.
>unironically
Ya gatdamn idjit galoot
blockchain itself will circumvent quantum in a major way. it becomes completely resistant to it when a quantum resistant hash is employed.