Crypto 360°

Thursday, 26 September 2019

Why quantum computers do not pose a risk to bitcoin. (The quantum fud campaign has worked in the past and it worked this time. People need to learn to rebuke this false narrative)

The claim: Quantum computers can hack bitcoin and its right around the corner.

Reality:

There is no known way that quantum computers can break SHA256 (only the signing elliptic curve/ECDSA). So cold wallets will always be safe (this means you have not made an outgoing transaction in that wallet)

This also means you will always be safe in actively making transactions as long as wallet providers upgrade the functionality to constantly move your funds to a new address on each transaction (this already exists in several wallets). Its a simple software update.

There is a larger discussion on upgrading bitcoin, the fact that quantum computers are not even close to being able to crack ECDSA, etc. But I'm just going to leave it at what I said above. Your Bitcoin is not at risk from quantum computing.

submitted by /u/Trident1000
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Wednesday, 25 September 2019

Crazy Premiums Appear On Crypto Exchanges During Bitcoin Price Crash This article was originally posted on Bitcoinist - one of the leading sources for information about Bitcoin, digital currency and blockchain technology. With one of [...]

This article was originally posted on Bitcoinist - one of the leading sources for information about Bitcoin, digital currency and blockchain technology. With one of [...]

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