The Quantum Threat To Bitcoin [tnYGq9mdnNj]

The Quantum Threat To Bitcoin [tnYGq9mdnNj]

| 1h 28m 28s | Video has closed captioning.

Please help to support this channel's work: In this video, I discuss the quantum threat to Bitcoin. A really powerful quantum computer (which probably doesn't exist yet) could use Shor's algorithm (or other quantum algorithms) to reverse-engineer Bitcoin private keys from Bitcoin public keys, thus making it possible to steal someone'e Bitcoin. The solution is the creation of quantum-resistant Bitcoin addresses and then everyone moving their BTC from legacy addresses to these new addresses. Building consensus for a change like this will take time, so it's a good thing that people are already proposing quantum address BIPs (Bitcoin improvement proposals). The only things more vulnerable to a quantum computing attack than Bitcoin are the traditional financial system, banks, military databases and encrypted communications, and everything else in the world (including the whole internet) that relies on public/private key cryptography. I also discuss the reasons why it's important never to reuse Bitcoin addresses, due to both security and privacy concerns. Not investment advice! Consult a financial advisor. Bitcoin address types: Google's new quantum chip: Quantum-resistant Bitcoin address BIPs: ECDSA: Shor's algorithm: Schnorr signatures (also not quantum-resistant): I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals. #Bitcoin #quantum #crypto Disclaimer Neither Matthew Kratter's Bitcoin University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video, on this YouTube channel, or at www.Trader.University or www.BitcoinUniversity.com (henceforth, “the Sites”) should be construed as such by you. This video, channel, and the Sites should be used as educational tools only and are not replacements for professional investment advice. Trading or investing in new and volatile assets like Bitcoin can be risky. #big time crypto #bitcoin 2 #hottest cryptos