Memes

Bankers saying Quantum Computing will break the Bitcoin Encryption.

But,

Banks Pin🔑 v/s Bitcoin Private Key
🔑

exploring the intersections of technology, decentralization, and leftism • links: thumbsup.me • words: blog.thumbsup.me

Yeah. That’s true. That’s why I choose to post in meme channel. 

QC will take sometime to be considered as risk for Bitcoin encryption and there will be definitely solution for our pvt keys before the risk come close to our doorsteps.

Pretty sure banks also use SHA256 or similar. The pin is just a confirmation like faceID on Rainbow. The card is the signing key holder and the terminal (ATM etc) queries the public key.

The added risk of blockchain is that the database itself is open so someone with the private key can access it from anywhere in the world without any notification to the user. 

I say this as someone in favour of replacing banks with crypto. But let’s be honest about it is all 🙂

These aren't comparable. To use the PIN you need the card.  To break into someone's bank account you need the account number and password, and now usually MFA.  Govt agencies and Financial institutions are upgrading to Quantum-resistant algorithms... but for BTC to do the same it'll need a hard fork.

was reading about quantum last week. could you share with me what you saw?