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Using quantum computer to mine bitcoins

Written by Bruce Sep 28, 2021 · 9 min read
Using quantum computer to mine bitcoins

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Current estimates indicate that with the speed we expect from quantum computers in the short and medium term quantum computers will not be able to significantly outperform classical. After all quantum computers are capable of operating at speeds exponentially greater than any supercomputer on the planet today. Ad Cryptocurrency Makes Transactions Seamless Coinbase Makes Them Secure. Accordingly with your answer it only takes 1 mega tries to do it with a quantum computer. If a quantum computer could compute hashes as fast as todays classical computer then it can only compute 229 hashes in 10 minutes so it would need 23122922416 quantum computers to have any mining advantage.

Using Quantum Computer To Mine Bitcoins. Ad Cryptocurrency Makes Transactions Seamless Coinbase Makes Them Secure. Accordingly with your answer it only takes 1 mega tries to do it with a quantum computer. The current difficulty of bitcoin mining is about 15466098935554 approximately 244 which means that it would take about 244232276 SHA256 hashes before a valid block header hash is found. Thats why it isnt unreasonable to think that they would be the perfect way to mine bitcoin.


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Send Cryptocurrency to Anyone Anywhere in The World. If you had 16 quantum computers each with several hundred thousand qubits you might have a slight bitcoin mining. Ad Cryptocurrency Makes Transactions Seamless Coinbase Makes Them Secure. Accordingly with your answer it only takes 1 mega tries to do it with a quantum computer. If a quantum computer could compute hashes as fast as todays classical computer then it can only compute 229 hashes in 10 minutes so it would need 23122922416 quantum computers to have any mining advantage. And with the ability to lease time on a quantum computer.

A quantum computer used as a bitcoin miner can already process faster and break the 50 threshold resulting in the owner having the ability to do whatever they want.

Suppose it takes 1 tera tries to find a correct answer. Thats why it isnt unreasonable to think that they would be the perfect way to mine bitcoin. It is said that a Quantum computer could theoretically mine all the remaining bitcoins in seconds however the difficulties it could face practically can hamper the speeds and could. Send Cryptocurrency to Anyone Anywhere in The World. However by implementing Grovers algorithm we would only need to sort through 2762238 hashes to discover a valid block header hash. So if a quantum computer is a million times more expensive than a normal ASIC it still worth mining.


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But take a sigh. It is said that a Quantum computer could theoretically mine all the remaining bitcoins in seconds however the difficulties it could face practically can hamper the speeds and could. Send Cryptocurrency to Anyone Anywhere in The World. Thats why it isnt unreasonable to think that they would be the perfect way to mine bitcoin. However by implementing Grovers algorithm we would only need to sort through 2762238 hashes to discover a valid block header hash.

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If you had 16 quantum computers each with several hundred thousand qubits you might have a slight bitcoin mining. A 38-qubit quantum computer should be sufficient in this case - which means the 40-qubit quantum computer should be more than enough to handle bitcoin mining. The current difficulty of bitcoin mining is about 15466098935554 approximately 244 which means that it would take about 244232276 SHA256 hashes before a valid block header hash is found. Send Cryptocurrency to Anyone Anywhere in The World. Accordingly with your answer it only takes 1 mega tries to do it with a quantum computer.

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Send Cryptocurrency to Anyone Anywhere in The World. The current difficulty of bitcoin mining is about 15466098935554 approximately 244 which means that it would take about 244232276 SHA256 hashes before a valid block header hash is found. After all quantum computers are capable of operating at speeds exponentially greater than any supercomputer on the planet today. It is said that a Quantum computer could theoretically mine all the remaining bitcoins in seconds however the difficulties it could face practically can hamper the speeds and could. Send Cryptocurrency to Anyone Anywhere in The World.

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Ad Cryptocurrency Makes Transactions Seamless Coinbase Makes Them Secure. Thats why it isnt unreasonable to think that they would be the perfect way to mine bitcoin. However by implementing Grovers algorithm we would only need to sort through 2762238 hashes to discover a valid block header hash. Accordingly with your answer it only takes 1 mega tries to do it with a quantum computer. A quantum computer used as a bitcoin miner can already process faster and break the 50 threshold resulting in the owner having the ability to do whatever they want.

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If a quantum computer could compute hashes as fast as todays classical computer then it can only compute 229 hashes in 10 minutes so it would need 23122922416 quantum computers to have any mining advantage. If you had 16 quantum computers each with several hundred thousand qubits you might have a slight bitcoin mining. Ad Cryptocurrency Makes Transactions Seamless Coinbase Makes Them Secure. Send Cryptocurrency to Anyone Anywhere in The World. It is said that a Quantum computer could theoretically mine all the remaining bitcoins in seconds however the difficulties it could face practically can hamper the speeds and could.

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If a quantum computer could compute hashes as fast as todays classical computer then it can only compute 229 hashes in 10 minutes so it would need 23122922416 quantum computers to have any mining advantage. However by implementing Grovers algorithm we would only need to sort through 2762238 hashes to discover a valid block header hash. If you had 16 quantum computers each with several hundred thousand qubits you might have a slight bitcoin mining. A quantum computer used as a bitcoin miner can already process faster and break the 50 threshold resulting in the owner having the ability to do whatever they want. Ad Cryptocurrency Makes Transactions Seamless Coinbase Makes Them Secure.

Scientists Run Quantum Computer For 39 Minutes At Room Temperature Slashgear In 2021 Quantum Computer Quantum Scientist Source: pinterest.com

Current estimates indicate that with the speed we expect from quantum computers in the short and medium term quantum computers will not be able to significantly outperform classical. Ad Cryptocurrency Makes Transactions Seamless Coinbase Makes Them Secure. If a quantum computer could compute hashes as fast as todays classical computer then it can only compute 229 hashes in 10 minutes so it would need 23122922416 quantum computers to have any mining advantage. The current difficulty of bitcoin mining is about 15466098935554 approximately 244 which means that it would take about 244232276 SHA256 hashes before a valid block header hash is found. Current estimates indicate that with the speed we expect from quantum computers in the short and medium term quantum computers will not be able to significantly outperform classical.

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If a quantum computer could compute hashes as fast as todays classical computer then it can only compute 229 hashes in 10 minutes so it would need 23122922416 quantum computers to have any mining advantage. It is said that a Quantum computer could theoretically mine all the remaining bitcoins in seconds however the difficulties it could face practically can hamper the speeds and could. A quantum computer used as a bitcoin miner can already process faster and break the 50 threshold resulting in the owner having the ability to do whatever they want. After all quantum computers are capable of operating at speeds exponentially greater than any supercomputer on the planet today. But take a sigh.

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However by implementing Grovers algorithm we would only need to sort through 2762238 hashes to discover a valid block header hash. Send Cryptocurrency to Anyone Anywhere in The World. A quantum computer used as a bitcoin miner can already process faster and break the 50 threshold resulting in the owner having the ability to do whatever they want. Send Cryptocurrency to Anyone Anywhere in The World. The current difficulty of bitcoin mining is about 15466098935554 approximately 244 which means that it would take about 244232276 SHA256 hashes before a valid block header hash is found.

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But take a sigh. A quantum computer used as a bitcoin miner can already process faster and break the 50 threshold resulting in the owner having the ability to do whatever they want. And with the ability to lease time on a quantum computer. After all quantum computers are capable of operating at speeds exponentially greater than any supercomputer on the planet today. Send Cryptocurrency to Anyone Anywhere in The World.

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Ad Cryptocurrency Makes Transactions Seamless Coinbase Makes Them Secure. A 38-qubit quantum computer should be sufficient in this case - which means the 40-qubit quantum computer should be more than enough to handle bitcoin mining. Thats why it isnt unreasonable to think that they would be the perfect way to mine bitcoin. Current estimates indicate that with the speed we expect from quantum computers in the short and medium term quantum computers will not be able to significantly outperform classical. After all quantum computers are capable of operating at speeds exponentially greater than any supercomputer on the planet today.

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