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Quantum computing bombshells that are not April Fools

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Re: Quantum computing bombshells that are not April Fools

#11

Post by AlexCoventry »

esseph wrote: post #4
tombert wrote: post #3

Here's hoping that my stock for D-Wave ends up being worth something. Quantum computing seems super cool, but I've been a little skeptical of it actually ever yielding anything useful. I would love to be wrong, it seems neat, and I have read through a few books on the subject and played with simulators, so I'm not completely talking out of my ass here, but quantum as a whole has kind of felt like vaporware to me. As…

You can rent Quantum computing time from IBM cloud today: https://www.ibm.com/quantum/products https://quantum.cloud.ibm.com/docs/en/guides/plans-overview I have NOT used it, but the idea is interesting.

You can rent it, but it's basically worthless at this stage.

Re: Quantum computing bombshells that are not April Fools

#12

Post by Strilanc »

amluto wrote: post #6

One thing I find rather amazing about all of this is the degree to which the Bitcoin community has tried, for years, to claim that quantum computers will be another other than a complete break. Sure, it takes a pretty nice quantum computer or a pretty good algorithm or a degree of malice on the part of miners to break pay-to-script-hash if your wallet has the right properties, but that seems like a pretty weak excuse…

The best proposal I have heard for rescuing P2SH wallets after cryptographically relevant quantum computers exist is to require vulnerable wallets to precommit to transactions a day ahead of time. The precommitment doesn't reveal the public key. When the public key must be exposed as part of the actual transaction, an attacker cannot redirect the transaction for at least one day because they don't have a valid precommitment to point to yet.

Re: Quantum computing bombshells that are not April Fools

#13

Post by crispyambulance »

tombert wrote: post #3

Here's hoping that my stock for D-Wave ends up being worth something. Quantum computing seems super cool, but I've been a little skeptical of it actually ever yielding anything useful. I would love to be wrong, it seems neat, and I have read through a few books on the subject and played with simulators, so I'm not completely talking out of my ass here, but quantum as a whole has kind of felt like vaporware to me. As…

I got some too. Obviously the principles behind quantum computing are perfectly sound. It's just those pesky engineering obstacles.

One of the companies around today or in the near future will be the one who makes it work at a practical scale. It will have enormous impact, but I think it will be a slow-burn kind of thing as making effective use of quantum computers will take a long time to evolve, IMHO.

Unfortunately, Google and IBM are also working on this stuff and they have deep pockets. They might do it, but even if they don't they may very well decide to acquire whoever does.

These stocks (IONQ, RGTI, QBTS, XNDU) are a sort of thinking-man's LOTTO ticket which will have its numbers called anytime within the next 5 to 20 years (probably closer to 20). I think they're worthwhile to hold in affordable quantities to see what happens. It might hit big, or it might fizzle out for a variety of reasons. There will also be some hype-driven market sugar-rushes along the way that are an opportunity to rake in a modest profit. This has happened already with IONQ, RGTI and QBTS earlier this year. It will certainly happen again when the patagonia-vest people get jazzed about something.

Re: Quantum computing bombshells that are not April Fools

#14

Post by warkdarrior »

Strilanc wrote: post #12
amluto wrote: post #6

One thing I find rather amazing about all of this is the degree to which the Bitcoin community has tried, for years, to claim that quantum computers will be another other than a complete break. Sure, it takes a pretty nice quantum computer or a pretty good algorithm or a degree of malice on the part of miners to break pay-to-script-hash if your wallet has the right properties, but that seems like a pretty weak excuse…

The best proposal I have heard for rescuing P2SH wallets after cryptographically relevant quantum computers exist is to require vulnerable wallets to precommit to transactions a day ahead of time. The precommitment doesn't reveal the public key. When the public key must be exposed as part of the actual transaction, an attacker cannot redirect the transaction for at least one day because they don't have a valid precom…

24-hour latency to make a payment? What is this, the 20th century?

Re: Quantum computing bombshells that are not April Fools

#15

Post by bawolff »

tombert wrote: post #3

Here's hoping that my stock for D-Wave ends up being worth something. Quantum computing seems super cool, but I've been a little skeptical of it actually ever yielding anything useful. I would love to be wrong, it seems neat, and I have read through a few books on the subject and played with simulators, so I'm not completely talking out of my ass here, but quantum as a whole has kind of felt like vaporware to me. As…

D-Wave is not making the type of quantum computers these breakthroughs would apply to, even if scaled up, as far as i know.

Re: Quantum computing bombshells that are not April Fools

#16

Post by bawolff »

amluto wrote: post #6

One thing I find rather amazing about all of this is the degree to which the Bitcoin community has tried, for years, to claim that quantum computers will be another other than a complete break. Sure, it takes a pretty nice quantum computer or a pretty good algorithm or a degree of malice on the part of miners to break pay-to-script-hash if your wallet has the right properties, but that seems like a pretty weak excuse…

On the brightside at least we'll have a clear indicator for when quantum computers actually arrive.

Re: Quantum computing bombshells that are not April Fools

#18

Post by Strilanc »

warkdarrior wrote: post #14
Strilanc wrote: post #12

Earlier quoted context omitted.

The best proposal I have heard for rescuing P2SH wallets after cryptographically relevant quantum computers exist is to require vulnerable wallets to precommit to transactions a day ahead of time. The precommitment doesn't reveal the public key. When the public key must be exposed as part of the actual transaction, an attacker cannot redirect the transaction for at least one day because they don't have a valid precom…

24-hour latency to make a payment? What is this, the 20th century?

This is for rescue, not for payment. Once you've moved the coins to quantum-secure wallet, the delay would no longer be needed.

...probably some people would be very inconvenienced by this. But not as inconvenienced as having the coins stolen or declared forever inaccessible.

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