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From Mark Moss
Video Description
A new player has entered the game. It’s called the Willow quantum chip—Google’s latest breakthrough in computing power. The internet is ablaze with one question: Could this quantum machine destroy Bitcoin?
And why stop there, what about higher value targets, Central Banks, Department of Defense, Corporations and more…
Well… The headlines are terrifying, the debates are heated, and the stakes? Higher than ever. But what if I told you... the truth is far more fascinating?
In this video, I’ll break down what Google’s Willow chip really is, the potential risks it poses to Bitcoin, and if you’re holding Bitcoin, whether you should actually be worried. And what other infrastructure is at risk.
This video begins with a nice beginner level description of the bitcoin network, then builds off of that to discuss how much of a threat quantum computing is. It's a good overview for people who wonder about this topic, but aren't experts in any of the technology or science.
This guy bored me to death by basic stuff. Matthew Kratter gets right to the point.
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Fair enough. The basic stuff is why I put it in ~bitcoin_beginners.
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Don't stop being you.
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Is this safe for me to watch?
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I imagine that depends on what risks you're concerned about.
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I recommend this episode of Bitcoin Alpha with core developer Matt Corallo for understanding the risks, what can be done and time frames we are looking at.
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Cool
Mark's conclusion was basically "NBD. There are readily available solutions for either gradual or sudden scenarios."
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Breaking SHA-256 would take millions of error free qubits, which is way beyond what we can do right now. Google’s Willow chip is cool and all but it’s nowhere near powerful enough to mess with Bitcoin’s security :)
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The point emphasized in the video, that most people ignore, is that Bitcoin's encryption will not be the first to fall.
So much of the legacy system will be vulnerable first, so there will be plenty of warning. If anything, the threat to banks and such will drive people into Bitcoin.
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So much of the legacy system will be vulnerable first, so there will be plenty of warning. If anything, the threat to banks and such will drive people into Bitcoin.
Exactly!
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