D-Wave Bitcoin News

How many qubits would it take to break Bitcoins SHA 256 bit encryption?

INFORMATION I GATHERED
Where are we at? 512 qubit computer ... But these are low quality qubits mainly due to issues with sufficient isolation from our universe, getting clear readings, and speeding up the gates. Also Dwave computers are currently limited in a way that supposedly does not have the capability for encryption cracking
If the qubits worked optimally how much does it take to break existing encryption? 2048-bit RSA requires roughly 4096 qubits while a quantum computer to break the equivalently secure 224-bit Elliptic Curve Cryptography requires between 1300 and 1600 qubits Yes this is not bitcoins 256 bit, nor the same math, but its the closest information I could reasonably find.
The NSA is preparing to make a computer that can crack any currently used difficult encryption except types that are quantum protected like the new Lattice encryption. When the NSA is done it will be able to crack Bitcions SHA256 private keys using the public. Right now they are currently working with a 2 qubit computer to do testing before the production implementation
Remember those /bitcoin frontpage posts about how cracking bitcoin would require a computer the size of the universe? Check out this excerpt about a 300 qubit computer "The projected performance of this new experimental quantum simulator eclipses the current maximum capacity of any known computer by an astonishing 10 to the power of 80. That is 1 followed by 80 zeros, in other words 80 orders of magnitude, a truly mind-boggling scale," Dr Michael Biercuk, at the University of Sydney, said. "[It] has the potential to perform calculations that would require a supercomputer larger than the size of the known universe - and it does it all in a diameter of less than a millimetre.
Adding to alarm is that quantum computers double in their ability to calculate with every qubit. In general, a quantum computer with n qubits can be in an arbitrary superposition of up to 2n different states simultaneously To build more powerful quantum computers, though is currently restrained by the quality of the qubit. If you read the timeline of quantum computing advancements you will see progress is being made on this at a decent pace though. Once we have a clean method down, the multidimensional sky is the limit.
Yes the rest of the banking industry is also largely vulnerable if such a quantum computer was made, as they also use common public key encryption.
Another caveat is that bitcoin uses 2 encryption methods. SHA256 for mining. Elliptic Curve for relating the pubic keys and private keys.
QUESTIONS FOR BITCOIN
Ok so, that is what related information I could find.
Yes I realize there is plenty of material written about how bitcoin code can be updated, or other reasons quantum computers are not a concern, but the point here is that the community needs to know about when this risk will happen and be prepared. It could be sooner or further away than we expected and everyone's finances should not be caught off guard. This post is about when bitcoin should expect a risk, not gauging the risk (unless it is zero)
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There is a company called D-Wave which claims to produce quantum computers with over 2000 qubits. However, this claim has not been universally accepted, and even if it is true, this is a special-purpose "annealing quantum processor" incapable of attacking crypto. Mitigations. Bitcoin already has some built-in quantum resistance. If you only use ... Large Bitcoin Collider: Not a Supercomputer but Still Cool . Computer scientists from across the globe already used supercomputers (not the quantum ones) and computing networks to crack out ... limit my search to r/Bitcoin. use the following search parameters to narrow your results: subreddit:subreddit find submissions in "subreddit" author:username find submissions by "username" site:example.com find submissions from "example.com" url:text search for "text" in url selftext:text search for "text" in self post contents self:yes (or self:no) include (or exclude) self posts nsfw:yes (or ... Bitcoin breaking above the $8500 area may lead to create new high. Further upward pressure expected if price manages to clear above the Channel resistance. BTC: $10,350.79 ETH: $374.12 XRP: $0.25 Market Cap: $346B BTC Dominance: 55.33%. BTC: $10,350.79 ETH: $374.12 XRP: $0.25 Market Cap: $346B BTC Dominance: 55.33%. Advertise Publish. Home; News. Forex Cryptocurrency Regulation Announcements ... They have the potential to improve breaking, or break encryption methods such as AES, scrypt, and SHA256. If you think this is some joke, you’re dead wrong. These encryption methods are used worldwide. AES is used by governments for top secret files and information. Scrypt is used by several different cryptocurrencies. And get this, SHA256 is used by Bitcoin, which is worth about 41 billion ...

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