QUANTUM HACKING

Recent advances in quantum computing are of concern as the security of mobile phones, banking and other industries will be at risk. Bitcoin uses elliptic curve cryptography which is more vulnerable to quantum methods which leaves wallets vulnerable.

Bitcoin etc fell after the FBI was able to hack the accounts of the criminals and recover most of the funds. Bitcoin has been trending down over the last 6 months but day to day it is still bouncing around. When it was discovered that an exchange was offering 100:1 options this drove valuations aggressively.

Research at Intel Labs has led directly to the development of Tangle Lake, a superconducting quantum processor that incorporates 49 qubits in a package that is manufactured at Intel’s 300-millimeter fabrication facility in Hillsboro, Oregon. This device represents the third-generation of quantum processors produced by Intel, scaling upward from 17 qubits in its predecessor.

Tangle Lake also must operate at profoundly cold temperatures, within a small fraction of one kelvin from absolute zero. 

Work by many researchers are tiring to device security so that quantum systems cannot assault them. RSA has been safe so far but with larger scales of quantum processors it does suggest longer key pairs are needed.

256-bit passwords can always leap to 512-bit or 1024-bit as necessary to stay ahead of quantum advances. The AES and other cyphers are built around narrow word processors while 64-bit is slightly better, the move to 256-bit is desirable for general financial calculations etc. The accumulator and the address registers do not have to be identical.

Household net worth rose to $136.9 trillion in the first quarter, a 3.8% gain from the end of 2020. Household debt totaled $16.9 trillion, growing at the fastest pace going back to 2006.

That is far more than a 32-bit CPU can easily handle. The 64-bit processor is barely able to cope. Excel also has limits to the number of digits in a calculation. Inflation is running at 5% which means every 15 years the supply of dollars will be doubled.

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