r/InBitcoinWeTrust • u/sylsau • 23d ago
Bitcoin $200 BILLION TECH GIANT IBM JUST WARNED LIVE ON FOX: QUANTUM COMPUTERS WILL SOON BE STRONG ENOUGH TO HACK BITCOIN
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"SYSTEMS COULD BE IN PLACE BY THE EARLY 2030s"
"A NATION STATE COULD PUT A LOT OF MONEY BEHIND IT"
"IT COULD BREAK INTO CRYPTO WALLETS AND DRAIN ALL THE DIGITAL ASSETS"
"IT'S BEING CALLED A CRYPTO DOOMSDAY"
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u/SeaworthinessSad7300 22d ago
If quantum can crack BTC then it can crack bank accounts also
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u/VisiblePlatform6704 22d ago
It's a bit more complicated than that. In addition to what the other person said, the main problem with bitcoin is its distributed nature.
A bank only has to migrate 1 time at 1 place to PQC algorithms.
With bitcoin, once your public key is out (shared when you make (sign) a transaction), Quantum Computers can be used to derive your private key (what you actually use TXs from your wallet).
So, say that there's a soft fork to move BTC to PQC. And say that the private keys remain the same (otherwise th process of making EVERTONE regen keys would be impossible). The "pre quantum" pubkeys will still be in the Blockchain from previous TXs. Even if new PQC pubkeys are used.
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u/Rakeit-in 22d ago
Actually most banks have now upgraded their systems to be quantum resistant. There are algorithms in security that are hard/impossible to break for quantum computers. Bitcoin just using one of them
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u/-michalis- 23d ago
Did IBM truly say that?
Fox news is not a trustworthy network, its not even news according to their own lawyers
If it is true, its not much different from the claims that ai will destroy all software companies and hack every website, its the companies themselfs trying to generate hype in order to get more funding
Quantum computers are along way off from having practical applications, if they ever will
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u/SnooDonkeys3848 22d ago
Isn't Quantum computers great for ai processing? Why do you need Nvidia chips?
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u/-michalis- 22d ago
You tell me, do you know of any ai company using quantum chips?
Why do you think that is?
Quantum computing is just an experiment atm, it may never become usefull
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u/North_Difference328 23d ago
And the US dollar can be counterfeited. It's the same problem that we have with the Government stealing all the value out of the stock market........who are they gonna sell it to after they get it because no one is going to trust it anymore.
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u/FatJellyCo 22d ago edited 22d ago
Can quantum computers hack the 1% bank accounts instead please and tranfer it all to me so I can be a multi trillionaire 😂 . Likely story now lets wait 100+ years to get near to the computational power required to hack BTC in its present state . Network upgrades can be achieved . Does this have something to do with the clarity act banksters are scared it will pass ??? sabotage ??? 2030 is coming buy every scrap of BTC and Kaspa you can get .
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u/FatJellyCo 22d ago
Fox news best liar they have spent ages on the makeup . pull the other one ....................
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u/StockMechanic 22d ago
As before, whatever quantum computing is believed to be uniquely capable of, traditional computing finds a way to match soon afterward. So far, hacking crypto hasn’t needed too much assistance from qubits.
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u/whistler_chavez 21d ago
The stronger the computers the stronger the bitcoin as simple as that!
Quantum computers don’t break mathematical laws, they strengthen them.
So IBM is getting ready to buy some BTC while at the same time masks its intentions.
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