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RE: Can Quantum Computers Break Bitcoin?
Thanks a lot for clarifying this - based on what you are saying, the risks of quantum computing aren't nearly as bad as if it's some kind of linear computing power issue.
I think there's a lot of misunderstood hype about what quantum computing can actually do.
Don't get me wrong - for certain problems, it will be orders of magnitude more efficient than traditional computing, and this is very cool stuff! But, it's not magic - that's my bigger point.
Maybe somebody will come up with an algorithm in the future for some of the problems that I mentioned, and maybe QC will only be used to solve a small piece of that algorithm (that's its role even in the Shor algorithm - you still need a classical computer for a lot of the factoring work).
But, given the information that I've been able to find today, I don't fear that SHA-256 or EC DLP will be broken by QC any time soon. Time will tell!