alt Hacker News> If Bitcoin is broken then your bank encryption and everything else is broken also.
Its a lot easier for your bank to change encryption methods than it is for bitcoin. Presumably you mean TLS here (where else do banks use encryption? Disk encryption?). People are already deploying experiments with quantum-proof TLS.
> As far as I know quantum computers still can't even honestly factor 7x3=21, so you are good. And the 5x3=15 is iffy about how honest that was either.
This is probably the wrong way to look at it. Once you start multiplying numbers together (for real, using error corrected qubits), you are already like 85% there. Like if this was a marathon, the multiplying thing is like a km from the finish line. By the time you start seeing people there the race would already be mostly over.
I still don’t really get the argument, like okay this extremely rich theoretical attacker can obtain the private key for the cert my service uses, and somehow they’re able to sniff my traffic and could then somehow extract creds. But that doesn’t give them my 2fa which is needed to book each transaction, and as soon as these attacks are in the wild anti fraud/surveillance systems will be in much harder mode.
I don’t see QC coming as meaning bank accounts will be emptied.
disclaimer: I work at a bank on such systems