What is quantum Computing how can Bitcoin Safeguard against Quantum Computing assume Quantum Computing is Just about to break shot 256 how would we hard Fork Bitcoin to a Quantum proof algorithm is quantum Computing a threat for crypto because Once that's reached they'll be able to Essentially break into the wallets Simultaneously I mean supposedly quantum Computers could break Bitcoin and the Banks as early as 2025 so obviously you Know Quantum Computing has the potential To change the Computing world on a Massive level experts are calling at the Next AI in terms of explosiveness CH GPT Of course everyone is talking about that But then you know for us Quantum Computing but how will this really Affect Bitcoin and during that interm Period Bitcoin needs to change its Algorithms watch today's whole video and Just to clue everybody in in 90 seconds Or less what is quantum Computing let's Imagine you have a bit right that is Something is either zero or one right One piece of information in quantum Mechanics you have a Quantum bit a cubit As they call it very clever so the Difference is that instead of it being a Zero or a one like it would be Classically Quantum mechanically it is In some superposition of zero and one It's some combination of a little bit
Zero a little bit one and it's not that You don't know which one it is it's that It really is both it might be 90% 0 and 10% 1 or something like that actually I Liked this explanation better it's more Recent that's why I subscribe here's a Regular computer its brains consist of Transistors that think in binary code Ones and zeros everything has to be Reduced to them and fed to the computer One by one some tasks may be processed Very quickly but some may take a long Time but quantum computers work Differently they take advantage of the Fact that on a very small scale in the Quantum realm things can be in several States at once you can have a thing that Is simultaneously a one and a zero so This essentially offers us an Exponential amount of new possibilities There's more information in the quantum Computer like if you have two bits 0 0 01 Etc there's only four things it can Be right if you have a quantum computer There's an infinite number of things it Can be the different aspects of life This can benefit for us is undeniable This is perfect for things like Gene Engineering Climate prediction and other things Where you have to consider a lot of Possibilities with a lot of variables For most day-to-day calculations Quantum Computing offers no advantages though
Bitcoin's cryptography and bitcoin's Private Keys how you access the wallets Could be in danger cryptography privacy Right are dramatically Changed by this Because if one of the things that we Think quantum computers should be able To do faster is Factor large numbers Which is the the the the the difficulty In factoring large numbers is the basis For much modern cryptography and by the Way you have a better chance of winning The Powerball nine times in a row Compared to guessing just one Bitcoin Private key Bitcoin really is the most Distributed and the most secure Computing Network in human history it It's not like you either have Quantum Computing or you don't have Quantum Computing um the question is how Powerful is it how many bits how many Cubits of quantum Computing do you have So will quantum computers be able to Break Bitcoin specifically the hash Algorithm which Bitcoin uses Shaw 256 This is a cryptographic hash function Used in bitcoin's proof of work mining Consensus mechanism yes the US Government's NSA did develop shot 256 Bitcoin was built using it many people Do then speculate that Bitcoin was Secretly created by the NSA to me that's Outrageous because Bitcoin success was Actually built on the back of 50 years Plus of hard work because while the
Bitcoin Network went live in 2009 they Were pulling from so many different Research papers using other people's Discoveries utilizing that as far back As from 1974 but let's just say for Argument sake that the NSA today finally Got access to Quantum Computing and it Was powerful and it was fast could they Then corrupt the Bitcoin Network I'm not Worried about the NSA having Quantum Computing because you one of the things That that is a a very basic concept in Security is the idea that if you have a A very powerful secret weapon you do not Use it you you wait until you have a Very good reason to use it um one way of Explaining that is what happened in Centry when the British had broken Enigma um they had the most important Secret was keeping secret the fact that They'd broken Enigma otherwise they Would go change the the encryption code So to keep that secret they had to do Parallel construction if they found out That someone thing was going to get Bombed they have to I don't know capture A German soldier who knew about it and Then say that he told them so that they Would have a different Reason uh and when they didn't have a Different reason they let the Germans Bomb centry thousands of people died to Protect the secrets of enigma so all I'm Saying is if the NSA has a quantum
Computer and they really want to not People not know that that quantum Computer which can also break all of the Encryption keys on all of the nukes in The world all of the communication keys And all of the nuclear subs and all of The military intelligence networks and All of the commercial networks I don't Think they're going to use it to break Bitcoin if you know what I mean and That's really the Dirty Little Secret When the mainstream media uses Quantum Computing to FUD to trash Bitcoin at That time people will have so much more To worry about every single bank account Will be accessible all the nuclear codes Will be accessible and Bitcoin will be Able to upgrade the real problem becomes When you have broad commercial Availability of quantum Computing but Not broad enough that all of us can use It in our wallets and there's that Interim period that's a bit awkward and During that interim period Bitcoin needs To change its Algorithms but one of the interesting Things that happens is that while you Can change the algorithms on all of the Active Wallets some wallet Have lost Keys or the people who had those keys Are dead and they can't Change the signing algorithm which means
That those wallets will get captured by Quantum Computers so one of the interesting Things that happens is we will know when Quantum Computing exists when satoshi's Coins move so for every single person That still has access to their private Keys you will be fine it's those lost Bitcoin and maybe even satoshi's Bitcoin That potentially could be accessible but For the rest of the ecosystem we can Migrate quite easily to another another Algorithm it's not really as big a Threat as people think it is and by the Way even though Quantum Computing is an Incredibly powerful supercomputer it's Really not shot 256 AKA proof of work AKA Bitcoin mining that will be affected Programmer Jimmy song explains and There's no known Quantum Computing Algorithm uh for for breaking shatu 56 Anyway so I don't know if there's some Confusion uh hash pre-images are quantum Safe it's it's uh discret log and uh you Know prime factorization that that are Vulnerable to Shores algorithm which Really only gets you the square root Which isn't honestly all that much so It's not Shaw 256 it's discret log Meaning not the proof of work but Potentially the crypto wallets and will Satoshi's coins be affected programmer Andreas Antonopoulos clearly explains That it's really not even all wallets
Quantum Computing would basically mean That the elliptic curve digital Signature algorithm would be Vulnerable now there are two different Categories of algorithms that are used Within Bitcoin one is a hashing Algorithm shot 256 and the other one is A digital signature algorithm ecdsa Elliptic curve quantum computer Will uh most likely affect the elliptic Curve digital signature algorithm first Whether you can use a Quantum algorithm To shortcut sha 256 I'm not sure about that I don't know If there is a Quantum algorithm for that Or how easy it Is so that's a different class of Algorithm and it might require Different uh a different approach to Cracking but let's say that ecsa is Affected ironically what that means is That if you lost your keys but you had Previously used that address then uh a Signature together with a public key Will be visible and will be available on The uh Blockchain um because when you spend From an address you leave behind a Public key in a digital signature Whereas Satoshi um for example never Spent never moved any of the initial Mined coins so if in fact Satoshi had a Million coins and if those are sitting There on the blockchain um because they
Haven't been spent we don't have a Signature and we don't have a public key What we have is an address and an Address is the result of a double hash And is not the result of the ecdsa Algorithm which means that if a quantum Computer can crack ecdsa but it can't Crack shot 256 then um satoshi's coins are safe the Only coins that are affected are the Ones where those addresses had been Reused several times it's one of the Reasons why um it's a best practice to Only use an address once the first time A signature appears on the blockchain is When those funds have already moved They're empty that address never gets Used again that key never gets used Again so even if the public key can can Be cracked in the future it results in a Private key that doesn't control any Funds um because you only use it once if You got value in today's video hit the Like button right now to support me Ironically that means that uh people who Don't follow that best practice may have Their keys affected by Quantum Computing Long before people who do use that Practice and Satoshi whose 1 million Coins never got moved and therefore Never had signatures attached to them Join the 1.48 million subscribers that Tune in Daily to stay informed about About crypto we are trying to hit 1.5
Million by the end of the year and like Always see you tomorrow
