Worried about quantum computing overpowering SHA-256, but not the 4-digit PIN securing your bank account?

Bankers don’t even need your pin to steal your funds

sorry this is really not thoughtful. all major tech and fintech companies are already updating their systems to be quantum resilient. somehow they don’t say it’s 15 years ahead and not relevant. your pin won’t be hacked since this will be taken care of. why can’t blockchains do it? because it’s extremely hard to update the decentralised tech the way it is built. It would take years of coordination and implementation efforts, maybe even a hard fork to make it happen.

you might wanna consult your parents on what types of drugs they railed during your birth seems to have done some damage

I'm telling you, you can't be bearish enough on human IQ sometimes.🤣

Not sure if you're trolling Mr. Watts, but SHA256 is not the concern. It's the signature scheme, ECDSA which is at risk. It's the thing which allows you to spend your coins. And we know for sure that a QC can break it given enough qubits.

Worried about a decentralized network reaching consensus vs a centralized entity. Making a centralized entity quantum secure is easy.

4 digit pins are not vulnerable to any kind of quantum or computational attack

I feel you may be missing the point. Also, it’s a fairly loose argument for not implementing any sort of defence.

Nobody who knows anything about bitcoin and quantum is worried about SHA-256 You’re trying to dunk on quantum concerned folks and instead you showed your ignorance

lol, this post is telling - dude has no idea what he is promoting

Can Satoshi upgrade its wallets in time?

Silly argument. Banks have recourse and customer service not to mention there are limits for withdraw and sending money. Bitcoin you get hacked and it's never coming back.

If you worry about the Quantum Computer threat to Bitcoin, i feel you, i got you.... SELL YOUR BITCOIN IMMEDIATELY.................................. to me!🫡🟧

The quantum FUD is overblown, but this trope is pleb slop For one, banking systems are centralised and permissioned so they can rate limit attempts, making brute forcing practically impossible (quantum or not) No such limit exists with Bitcoin. You’re just running the numbers with no upper limit on attempts

Sorry sir, you have this wrong. Banking is back stoped by humans and governments that would backstop a quantum attack. What backstops bitcoin? If everyone’s wallets were drained, could their politicians do anything about it?

Nothing to do with SHA. Also, the bank is a centralized entity, so it can just do a rollback and everything is fine

Hey the issue is that if quantum breaks Bitcoin then the network is functionally pointless but if it breaks digital dollars then we can just go back to paper money hope this helps

how many tries does a bank give? 3? perhaps 5? Bitcoin it is endless.

In all fairness transactions from your bank can be reversed. You need higher security for irreversible transactions.

Please do basic research on the topic before commenting, Mr. Bot 🤖

Well my bank account is insured by the federal government up to $250,000 good ole FDIC. I can not find anyone to insure my bitcoin?

people trust 4 digits more than crypto sometimes.

3 tries with the 4 digit Pin and you als need the card. Endless tries with QC. QC cannot break the 4 digit Pin but Bitcoin!

This post goes hard if you are a retard

Huge bitcoin bull but this has never made any sense, completely unrelated, a person doesn't get infinite attempts to crack my pin code (which is trivial) and can't steal my money from a distance even if they have it.

I work with teams already making such things quantum safe at a major fintech firm. Companies can do that. The issue is how we get btc to be quantum proofed.

One doesn’t count the other out, but there’s a worrisome difference: the entire banking sector has a concerted program to install post-quantum security solutions… QKD, etc. However, BTC is decentralised thus has a problem. Who is working on the fix be it hard fork or whatever? All I see is accounts and whales glibly stating don’t worry about BTC, worry about your bank pin. I’m not worried about my bank pin, companies like IONQ are installing the security solutions for that already. But you tell me who is organising the crypto solution? More people such as @caprioleio etc are becoming concerned .

This comparison shows only incompetence and/or ignorance of the technologies involved.

Do you mean the PIN that requires the presence of a bank card to be used?

Sha-256 isn't the problem it's ecdsa

$QRL @QRLedger

Imagine not recognizing the difference between a mutable centralized ledger and an immutable distributed ledger