The Coming Bitcoin Bust

Could quantum computing really launch us into a new era of cybersecurity — and spell the end of the bitcoin boom to boot?

The bitcoin mining company’s owner looked back one last time…

Behind him were row upon row of modified PCs, thousands of them, still neatly mounted in their racks. How many times had he walked in, greeted by a wave of heat and the blast of noise from thousands of fan motors inside those machines, straining to keep their microprocessors cool?

It was the sound of digital money being created as each machine’s chip strained to solve another piece of an elaborate cryptographic puzzle — the very basis for the cryptocurrency — and unlock just a little more bitcoin.

It was all gone now. The room had a funereal silence.

The great cryptocurrency boom had gone bust.

No one could explain why, at first. Bitcoin mysteriously plummeted in value for weeks, then months. But news leaks had finally identified the root of the problem…

728x170_2-in-1-trillion-howto-smallstake_updated-article
728x170_34-Billion-payout-MattCheck-article
728x170_small-stake-net98470_article
728X170PRL-IOT_Article_3AdsIn1_article
728x170_Expert-dow-surges-1000_article
728x170_CanYouIdentifyRock_article

“Damned quantum computers,” muttered the man as he shut off the lights and walked out for the last time.

Quantum Computing: The Next Step in Cyber-Insecurity

All of that’s made up, of course. But could quantum computing really launch us into a new era of cybersecurity — and spell the end of the cryptocurrency boom to boot?

First, a little explanation: Quantum computing technology is based on the mind-bending aspects of quantum theory.

In “classical” digital computing, information is processed in a binary fashion as a series of ones and zeroes.

With quantum computers, we get bits of information that can coexist in multiple states at any one moment in time. So everything is processed much, much faster.

Big Data problems that take a half-hour to solve with today’s supercomputers can be finished in a mere second — yes, one second — by a quantum computer.

Back in 2014, one of the least-noticed, most earth-shaking aspects of the Edward Snowden affair was the disclosure of documents proving that the National Security Agency was racing to build “a cryptologically useful quantum computer.”

Today, the advances come at a monthly pace…

Could quantum computing really launch us into a new era of cybersecurity — and spell the end of the bitcoin boom to boot?

Perhaps most stunning of all, the world’s first commercially sold quantum computer — the 2000Q, manufactured by Canada’s privately held D-Wave Systems — went on the market in January. (The price tag is $15 million.)

What’s the point? Cybersecurity investors need to pay attention because quantum computing holds great investment potential. It’s no longer the realm of theory and primitive computer-lab mockups. It’s in the real world, today, right now.

Can you imagine what a quantum computer might do to a cryptocurrency — unlocking its blockchain-based cryptographic puzzle a lot faster than its creators thought possible and dumping thousands of units of it on the market?

And then there’s the challenge — and promise — of using quantum computing for cybersecurity.

How do you keep secrets in a world where even the longest, most random password can be figured out in a few seconds?

Fortunately, if quantum computing were a ballgame, we’re still at the part where some muckety-muck gets up and throws the ceremonial first pitch (that promptly bounces into the dirt just before home plate). But the technology is both a threat and a safeguarding tool at the same time.

Kind regards,

Jeff L. Yastine
Editor, Total Wealth Insider

Editor’s Note: There’s a “magic” metal that’s in every bolt, nail, hammer, bridge, pipe, train and piece of industrial machinery needed for President Donald Trump’s $1 trillion infrastructure plan to move forward. And that’s only part of the reason why the little-known company that has the rights to mine this metal is going to see its stock skyrocket. Click here to see why early investors in this company stand to make up to 30 times their money.

  • Gregg Morgan

    Waaaahh.. sounds like somebody hasn’t made 10 grand off of Bitcoin

  • Gregg Morgan

    so quantum computing isnt going to encrypt data,too?

  • Gregg Morgan

    Buy the Dip.. improve your positions.. take profits… ignore the negativity.. protect yourself just like you do in every other investment. The bonus is.. a program like Bitcoin makes your initial buy-in money back. So, if Bitcoin gets a Quantum hack in 5 years.. you are only losing the house money.
    Anyway bubbles are for things that have an infinite supply, like more houses.. or printing more money.. Read into the tech before you make assumptions.
    Bitcoin has 16.7 million coins currently, and will be that way for a couple years. Market cap of 93 Billion. $5600 each right now. 5 million coins remain to be issued and then thats it, the government cant print more bitcoin.
    C’mon.. Visa has a card for crypto currency. Bill Gates backing Ripple.. Wozniak backing Bitcoin, Richard Branson backing Bitcoin.
    Really? Doomsday is how you’re selling newspapers, its 2017, dude.

    Its never too late to get involved in Crytpto..if it was $10,000 I’d tell you to Buy the Dip. hold.. sell.. take profit.. Buy the Dip again.

    Worried about security? Keep your coins on a drive in your pocket, trust no one.

  • Troy Faraone

    Mr. Yastine is a skilled writer and I enjoyed the fiction.
    Left out of the article is the fact that to make a quantum computer work efficiently and stably, the operating system needs to be chilled to near zero degrees Kelvin, a.k.a. absolute zero, or -459 degrees F. This is a marginal temperature and investors should know that anything driven to the margin makes the cost benefit unprofitable. Put another way, there will be more economical choices. Not saying there won’t be people willing to pay, nor that these machines won’t eventually be built, but for the average person, a Qubit driven computer is going to have to wait.
    Bitcoin may only be a bridge between current currency paradigms (fiat monies) and quantum cybersecurity, or between existing computers and quantum computers. VHS was a bridge between magnetic tapes and solid state data storage, yet it made a lot of money for people while it was relevant.
    I wouldn’t give up on Bitcoin yet, nor would I give up on quantum physics reinventing computer systems. Inventors and investors are good for each other; they create opportunities for those who take the time to research, then dump the pretenders and back the performers.
    The take away is; embrace change while profiting in the current regime.

  • Jeremy Gillmar

    It is FOOLISH to believe that MILLIONS of individual nodes that confirm EVERY blockchain transaction with be hacked by the same computers that will be used first BY THE MINING COMMUNITY… Do you not understand that we(miners) collectively caused EVERY KNOWN world supplier of the newest GPU models to sell out in 2017? Do you understand the implication in that kind of market dominance? And the funny thing is that it only takes one person to run a node to ensure transactions on the blockchain continue uninterrupted… There is no central location to be hacked…thats the point. Do you ENJOY being stuck in by-gone era of printed paper “money” with NO REAL VALUE. WHEN A CRITICAL THRESHOLD NUMBER OF US AGREE, THE ONLY INTRINSIC VALUE LEFT WILL BE DIGITAL AND DYNAMIC>EulersHomie

  • Kelly Welton

    SO, now I am thoroughly confused…. buy or don’t buy? Articles and E mails from other associates at Banyan Hill say buy, then don’t , then do…. Anyone else notice this?

  • Jack T

    just covering their Arses….they swing both ways so whichever way it goes, they can come out a year from now saying they were right. Not many like you finds what you found so they are safe percentage wise….this is what happens when they don’t understand what they are talking about…..good job on your part

  • Jack T

    Excellent