What do you guys think about this news coming out? I'm a noob about this so should we be worried or do they say this all the time?
Something about an official whitepaper and stuff??
A new study from Google Quantum AI has raised fresh concerns about the future security of Bitcoin. The report suggests that a powerful quantum computer could break Bitcoin’s encryption much faster than experts once believed.
Researchers now estimate that such an attack could take just nine minutes. That is faster than Bitcoin’s average block time of ten minutes. In this scenario, the attack could succeed about 41% of the time. While this does not pose an immediate danger today. It changes how the industry views long-term risks.
As far as I understand it's not an immediate risk right now, but it could be a risk long term. The concern is much bigger than what they expected?
News from google "Bitcoin Can Be Hacked in 9 Minutes, Google Research Says''
byu/mitchell2820 inCryptoMarkets
Posted by mitchell2820
18 Comments
I dont think a study done by an AI counts
More noise
Explains the posts about new piles of shorts created against btc
If bitcoin can be hacked so can every single bank and financial institution in the world. Think about that.
Bitcoin definitely has a back door, sure they’ll add a quantum layer when it comes to it tho?
This news will continue to accelerate. Many major companies progressing rapidly.
My take, rather than worry about how it will play out for chains trying to upgrade, consider the market opportunity.
Every single company needing solutions to migrate cryptography.
I’ve been following Qanplatform for years and they are in an ideal position for this exploding market.
whenever i see this topic, it just make me a smirk
been in bitcoin since 2010, when compute gets astronomically cheap and available bitcoin will be worthless, because the system depends on making the compute harder and harder, while theoritically an infinite amount of compute could rewrite its history.
First idea of that was Quantum Computing, but we are seeing now that GPUs can give you also astronomical compute power, so the better/cheaper/bigger/stronger the GPUs get the closer we are to that.
Nah, don’t worry about it. It’s YEARS away!
*but……they did say that YEARS ago*
They are talking about hacking using quantum computers. Who has access to quantum computers?
Such things are not available to the general public and will not be for a long time yet, if ever.
Do you think they’d allow something so powerful into the hands of Joe Average? Hence, if a hack does occur, it’s bloody obvious who perpetrated it.
Anyway, I apply this logic:
If it is possible and probable, it would already have been done.
If it is possible and not probable, there is no need to worry.
If it is neither possible nor probable, there is also no need to worry.
The way this community is we’re probably 10 days away from everyone hacking each other and saying it’s normal.
That means it’s time to buy!
Yeah, I could also hack everything theoretically with my speculative ultrananotera computer in just 5 nano seconds some time in the future.
Someone remind me to short BTC in 9 minutes 🥱
Finally bad news
“We can access trillions of dollars within 9 minutes but just don’t want to”
This is news I was expecting. In this case, I have no doubt that QANX (QANplatform) will take another step forward in Layer 1 projects with its quantum-resistant and multi-language support.
Not an immediate threat, current quantum tech isn’t there yet. It’s a long-term concern, not a “panic now” situation.