I did some research on this a couple weeks back because I sure as heck wasn’t going to throw tons of money into this thing until I knew it was absolutely sound security wise. The first thing I started asking myself is, “how would I go about hacking this?” I already knew much about public/private keys and cryptology, but there was one emerging area I had a strong feeling would spell the end of Bitcoin overnight and that was the advent of quantum computing.
I’ve posted the articles I bookmarked below, but here’s the TL;DR version of it:
- Quantum computing was foreseen by the Bitcoin inventor and measures are already built into the protocol to make it resistant to quantum computing attacks.
- The encryption is one way. You can’t derive the input from the output. It’s kind of like encrypting something then losing the key.
- Bitcoin is designed to be upgraded and enhanced easily. If a threat looms, Bitcoin is simply adapted to counter.
- This one’s FUD commentary: https://www.cryptocoinsnews.com/quantum-computers-will-destroy-bitcoin-scientists-warn/
- This one’s researched: https://news.bitcoin.com/is-bitcoin-at-risk-as-google-and-ibm-aim-for-50-qubit-quantum-computers/
- Even more technically in-depth: http://www.bitcoinnotbombs.com/bitcoin-vs-the-nsas-quantum-computer/