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RE: Quantum Computing and Bitcoin

in #bitcoin8 years ago

When quantum computers reach a point to be of use in mining, then the security algorithm will be upgraded too. If that proves impossible, then Bitcoin will be dumped for a new more secure coin. The market will adapt to the technology, but only when necessary.



ColdMonkey mines Gridcoins through BOINC computations for science…


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Unfortunately, that is how things typically work. This is a subject being discussed in many crypto-communities, but I don't know of any with actual plans to upgrade their security to prepare. It may be too complex to upgrade, and require a rewrite to incorporate. I think it is going to be a consideration more people take into account when looking into their altcoin investments.