Can Governments Shut Down Bitcoin With Quantum Computers?
Most governments like Bitcoin (CRYPTO: BTC) as much as we like walking with rocks in our shoes. Recent ransomware attacks, where hackers targeted vulnerable infrastructure such as gas pipelines and demanded ransom in the form of Bitcoin, add yet more scrutiny of the cryptocurrency. There's also plenty of regulatory scrutiny of the use of Bitcoin for illicit activities and money laundering. What's more, the energy use of Bitcoin mining has spiraled out of control in recent years and poses a direct threat to climate change initiatives.
The rise of quantum computing may soon give governments a means to crack down on Bitcoin and other types of cryptocurrencies. Information encoded in super "quantum" computers, known as qubits, exists in infinite states due to something called superposition, as there are infinite decimal numbers between 0 and 1, significantly enhancing their speed over binary computer systems. Governments could potentially decrypt digital currencies or launch hash attacks to take over their network for a regulatory shutdown with these machines. Let's analyze this risk in detail.
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Source Fool.com
