Maretus
@maretus
Is there like legitimately a plan for what happens when quantum computers crack encryption? The most conservative estimates are now putting it less than a decade away, with many saying 2029 of 2030. To me, it sounds like the world is 5 years away from breaking Bitcoin. But i dont have a super strong understanding of this stuff. I know there is quantum resistant encryption and I hope Eth and others will figure that out. But, can Bitcoin realistically be updated as well?n
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The Dude Bart🐘🌳 ⌐◨-◨
@thedude
Can we upgrade Bitcoin to be Quantum Resistant :Technically: Yes. Politically: Almost impossible yo. Bitcoin can implement soft forks or hard forks to switch to quantum-resistant signature schemes (like lattice-based crypto). Some examples: XMSS, SPHINCS+, and Falcon are candidates for post-quantum signatures alsoo Bitcoin could add a new address type with post-quantum cryptography via a soft fork. But, I mean... It would require broad community consensus. The Bitcoin ethos is mostly conservatism and ossification (change very slowly, if at all). Some developers (like Peter Todd) have proposed quantum-resistant migration strategies, but no definitive roadmap is locked in... so I dunno what we're gonna do.. but I also assume that quantum computers aren't going to be available all willy nilly either
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simon
@sa
I've been watching developments in quantum computing since D-wave was a startup, and now is the fastest pace of development. By far. Billions around the world are pouring into development. Cracking current banking and crypto is extremely concerning, but we so need to worry about countries that have been hoarding encrypted communications just waiting for the day they can retroactively crack it.
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Rico 🎩
@ricoxy
I think there's a protocol on this. Qan protocol.
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Sinaver Idrisov
@sinaver.eth
in the worst case they will fork it with better security, so nothing happens long-term, mid-term if they don't get consensus on upgrading nodes with post-quantum encryption algos it will plummet and stay at very lows for few or more years.
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Jay Brower (jaymothy.eth)
@jayb
idk call me skeptical or uninterested, but im way more concerned about the decades of recorded TLS traffic that will be decrypted they'll fork bitcoin if they have to, but if you had a g*d computer why would you immediately let everyone know by stealing pennies from BTC when you could have the most unimaginable global stock market alpha of all time. Nation states will probably just spy on each other better.
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