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47 sats \ 3 replies \ @aliceandthewonderland 24 Dec \ on: Why QC Can't Kill BTC Matt Corallo bitcoin
What about Bitcoin mining field? If QC advances far enough, wouldn't it become profitable to mine Bitcoin block using QC? Grover's Algorithm could significantly reduce the computational effort required to find the hash. This would mean only those who can afford quantum computers would be able to mine block, potentially leading to even greater centralization.
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0 sats \ 0 replies \ @jgbtc 24 Dec
Looking forward to getting my quantum Bitaxe.
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0 sats \ 1 reply \ @OT OP 24 Dec
Most of the supply has been mined already (>90%). So this situation wouldn't be as catastrophic IMO, unless if course you're a large asic miner!
The community would have some time to react and figure out how to deal with this.
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0 sats \ 0 replies \ @aliceandthewonderland 24 Dec
Most of the supply has been mined already (>90%).
I wasn’t referring to mining subsidies; I was actually talking about the potential centralization of the mining industry with advanced enough QC.
The community would have some time to react and figure out how to deal with this.
Yep, hope so.
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