We Study Billionaires - The Investor’s Podcast Network BTC020: Bitcoin & Quantum Computing w/ Andrew Fursman (Bitcoin Podcast)
Apr 7, 2021
Andrew Fursman, founder of 1Qbit and a leading expert in quantum computing, discusses the pivotal ways this technology may affect Bitcoin and cryptography. He explains what a quantum computer is and why it poses a threat to traditional encryption methods. Listeners learn about the Bloch Sphere concept, potential timelines for quantum breakthroughs, and applications beyond cracking encryption. Fursman highlights the urgent need for post-quantum cryptography to ensure the security of digital transactions as quantum capabilities evolve.
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Qubits: More Than Just 1s and 0s
- A qubit isn't simply a 1 and 0 simultaneously, but holds richer information than a regular bit.
- It's like an arrow pointing anywhere on a sphere's surface, with up/down representing 1/0.
Current Quantum Computing Limitations
- Present quantum computers are limited; they can only perform very basic calculations.
- Their main application is simulating quantum information, especially in chemistry.
Quantum Strengths and Encryption's Weakness
- Quantum computers excel at specific tasks classical computers struggle with.
- This includes factoring, which underlies much of today's encryption.