Is Google's Quantum Computing Breakthrough A Threat to Bitcoin Mining?

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#quantumcomputing #google #bitcoin

[tumultuouscornucopia]

The moment I heard the report on the BBC I was waiting for this video to land. Thanks

[_nikeee]

I don't think it's about the actual mining process, but rather the ability to break public keys that have done at least one outgoing transaction, effectively giving someone the power to empty everyone's wallets.

[Waldemar_la_Tendresse]

Effectively FAST NOISE! I'm totally impressed.

[oooo]

It's not about mining, The issue is reversing bitcoin public keys

[JamesSmith-uiiu]

Thank you Sabine. The first thing I thought when I saw the announcement was, "What will Sabine say about it" And here we are. :) Awesome

[johnwollenbecker]

Like watching a tennis match.
Quantum.
Conventional.
Quantum.
Conventional…

[MartinJefferies-jd]

Glad for the clarification. I am always suspect of anything Google says about quantum computing based upon your excellent analysis.

[peterlue]

Earning Bitcoin at 1 million times the rate as the next fastest computer seems like a pretty good use for a quantum computer until other people start doing it and they once again increase the difficulty to the point where everyone has to use a quantum computer to earn as much as they do today.

[tahahammadia]

I read the original arXiv (without the appendices ofc). The good result of the paper is that they have one logical qubit, yes one logical with 105 physical qubits. They have an excellent error rate for that qubit. They also managed to solve one error floor of 10^{-6}. Finally, they managed to perform quantum error correction in real time.

[jeanmichelsarr]

Actually a quantum computer wouldn't be useful for bitcoin mining. However, it could pose a security threat to the network as it could break any private key and make unauthorized transactions. Given the current Bitcoin market cap around 2 trillion dollars, it would definitely be an excellent application of a quantum computer.

[JMaxwell]

We'll need to ask "Professor" Dave; he clearly has the answers to all questions, both big and small - a font of eternal wisdom in one single mind.

[lucashouse]

The people with that kind of money don't have anything better to do.

[vinay]

reminds me of "we are 5 years away from fusion". I have nothing against fusion research or quantum computer development, I just prefer to be scientifically realistic.

[anthonyriley-lukb]

Forget Bitcoin mining. What about hacking the blockchain? That would render crypto vulnerable and therefore useless.

[kenjoseph]

Well done Sabine, another informative but humorous video, explaining what the headlines really mean. Thanks and keep up the good work

[Solvnt]

You’re my favorite. Absolutely nailing every issue. Thank you, please never stop

[luudest]

What about breaking the encryption of Bitcoin (256-bit) with a quantum computer?

[rteammobile]

I really love this lady; she's tough, but in a good way!

[eyu]

Thank you for providing this more refined explanation.
🤔🤠

[LydiaLuke-hn]

Hit $12, 590 k today. Thank you for all the knowledge and nuggets you had thrown my way over the last week .i started with 3k in last week now i just hit $12, 590…