Alt-Coin Quantum Resistance Ledger (QRL)

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Marchas45
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Marchas45 » Wed Jul 05, 2017

:evil: I bought 1.5 ETH's worth late morning @ 0.00260004 I can never get ahead. :lol:
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby AuAgJohn » Wed Jul 05, 2017

AuAgJohn wrote:Finally, got some QRL. Had a buy order hit last night for 27.9k ($.72). Up to 5 holdings now.

You're welcome, guys. :thumbdown:
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Long John
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Wed Jul 05, 2017

I had a buy hit at 22k. Was not expecting it at all. Maybe I should set a buy at 10k. :? What caused the massive dump? Just a panic avalanche? Or whales engineering a cheap buyback. I hadn't heard any news or even noise to yank the rug out from under.

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Fabio » Thu Jul 06, 2017

I think I also had a but at 22,555 or something like that, will see tomorrow if it went through.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Thu Jul 06, 2017

Long John wrote:I had a buy hit at 22k. Was not expecting it at all. Maybe I should set a buy at 10k. :? What caused the massive dump? Just a panic avalanche? Or whales engineering a cheap buyback. I hadn't heard any news or even noise to yank the rug out from under.


There was no news. My opinion is that it was a level 1 buyer (pre-sale) who wanted to cash in funds for other projects coming online, but that is just personal speculation. He can do that at a profit, even at these low prices.

At one point, there was less than 10 BTC buy support, and I had a buy order at 1k sats. The odds of that filling are quite small, but if I can acquire if/when others freak out, I will. I am stoked for this project. I know I am overweight percentage-wise in QRL but that is fine in the near term prior to MainNet and any real marketing of the token.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Thu Jul 06, 2017

https://www.scientificamerican.com/article/quantum-computers-compete-for-supremacy/

High points:

- Google already has a 20-qubit processor, which the company announced at a conference in Munich, Germany, on June 22, 2017. (QRL team attended that conference).
- Alan Ho, an engineer in Google’s Quantum Artificial Intelligence Lab, told the conference his company expects to achieve quantum supremacy with a 49-qubit chip by the end of this year (2017).
- Computing power grows exponentially with the number of qubits. So at somewhere around 49 or 50 qubits, quantum computers reach the equivalent of about 10 quadrillion bits and become capable of calculations no classical computer could ever match.
- It is reasonable to expect systems containing a few thousand qubits in a decade or so - says Monroe, a physicist at the University of Maryland, College Park, and founder of IonQ, a start-up working on building a quantum computer with trapped ions.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Thu Jul 06, 2017

https://www.weforum.org/agenda/2017/06/these-are-the-top-10-emerging-technologies-of-2017?utm_content=buffer6eccf&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

From the World Economic Forum - the Top 10 Emerging Technologies of 2017.... and #10 is Quantum Computing:

"More than 50 start-ups and large corporations worldwide are focused on making quantum computing a reality. With such progress behind us, the word on people’s lips now is “Quantum Ready.”
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Fri Jul 07, 2017

QRL update from the lead developer:

We are publishing these documents in the coming days: 1) Next Proof of Stake draft, 2) multi-sig proposals, 3) ephemeral white paper, 4) updated dev roadmap. It is also likely that our TestNet will move from being private to public next week.
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Long John
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Fri Jul 07, 2017

Well, I just bought a few thousand cheaper than my original batch a month ago. It might drop below 20K this morning,with the whole market drooping. Hopefully the QRL news in coming days gives it a boost. We've had plenty of chance to stock up on the cheap. Time for an upturn.

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Sat Jul 08, 2017

It did drop below 20, as low as 18 and change before bouncing a little. A positive aspect of this crash was that it allowed me to cost-average down quite a bit, and I'm sure others too. For awhile last month I had some free QRL due to an initial sell during the moonshot, but then like a lemming I went back in and I've been doubling down ever since. :?

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Sat Jul 08, 2017

Long John wrote:It did drop below 20, as low as 18 and change before bouncing a little. A positive aspect of this crash was that it allowed me to cost-average down quite a bit, and I'm sure others too. For awhile last month I had some free QRL due to an initial sell during the moonshot, but then like a lemming I went back in and I've been doubling down ever since. :?


If this twitter follower is to be believed (not a given obviously), he is a big time QRL whale. Read back on all his posts for the last 5-6 weeks and see what I mean.

https://twitter.com/ActualAdviceBTC
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Long John
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Sat Jul 08, 2017

SilverDoge wrote:If this twitter follower is to be believed (not a given obviously), he is a big time QRL whale. Read back on all his posts for the last 5-6 weeks and see what I mean.

My goal is to become so rich that I have leisure to spend all my time telling people online how rich I am.

QRL is perking up, by the way, but that might just be the general market bounce. And 21.5k is not really much to get excited about. Like to see that quadruple after Mainnet.

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby AuAgJohn » Wed Jul 12, 2017

Had a buy order hit last night at 15k (~ 36 cents). Have to decide whether to put in another one.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Sun Jul 16, 2017

Here is a podcast with the founder of QRL at ICO Alert. Some good nuggets of info in there:

http://www.icoalert.com/podcast/why-youve-never-heard-of-qrl/
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Mon Jul 24, 2017

Here is a quote from Dr. Pippa Malmgren, a US policy analyst and former member of the Working Group on Financial Markets, a government entity better known by its nickname, the “Plunge Protection Team,”

" I will say one last thing about it. You have got to get familiar with quantum computing, and there is loads of stuff on the net about it. But the reason it matters is because of the speed at which you can process information. We now have quantum computers. The Chinese apparently have the fastest. There is D-wave out of British Columbia, but basically you can break a block chain password or a Bitcoin password in like less than a minute if you have a quantum computer. The question is who is going to have them, and the answer is mainly governments but big corporations are buying them like crazy. Volkswagen just bought one. We are going to see major corporations buying that computer power."

http://www.zerohedge.com/news/2017-07-22/pippa-malmgren-talks-bitcoin-refugee-crisis-and-plunge-protection-team

If this isn't bullish for QRL I don't know what is. She is sitting here admitting that crypto is very much on the radar of government policy makers, realizes the one key weakness of bitcoin, and is telling us about it. So again, I ask why somebody wouldn't hedge their crypto portfolio with some QRL...?
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Long John
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Mon Jul 24, 2017

I have a dumb question: A quantum computer can break any password by brute-forcing it, or trying every combination, at unbelievable speed. So, isn't a very effective defense simply to lock out someone who enters the wrong password X number of times? In other words, isn't a quantum attack rather obvious after the first million wrong passwords are tried on an account? :lol: The lockout defense is already employed in some cases, so no doubt I am missing something there.

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Mon Jul 24, 2017

Long John wrote:I have a dumb question: A quantum computer can break any password by brute-forcing it, or trying every combination, at unbelievable speed. So, isn't a very effective defense simply to lock out someone who enters the wrong password X number of times? In other words, isn't a quantum attack rather obvious after the first million wrong passwords are tried on an account? :lol: The lockout defense is already employed in some cases, so no doubt I am missing something there.


Courtesy of a QRL slack member...

Its not a password you fill in. its a combination of 2 keys that are mathematically connected to each other. 1 of those keys is shared with everyone (the public key) and the other is kept locally (private key). These keys are a certain length and can be saved to a file because it is just some random letters and numbers. When you encrypt something with 1 of the keys it can be decrypted with the other key. this encryption and decryption is done locally before a message is actually sent over the internet. In order to encrypt a message for someone you need their public key. you can then encrypt your message with their public key so only the holders of that connected private key can decrypt it.

This is mathematically connected key-pair. If you have 1 of the 2 keys you can take guesses at what the other key must be. This can all be done locally without any network needed. The only thing you need is the public key of something you want to decrypt and you can start guessing the private key without any network.

One way to check if you guessed the right private key is to encrypt a message with the public key and decrypt it with the generated private key and check if the original message is the outcome of the decryption. If it's not then you just continue to the next key until you've found it.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Mon Jul 24, 2017

Very interesting. It seems the public-private key pairing could be a liability in the age of quantum computing.

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Marchas45 » Fri Jul 28, 2017

Whoa! what a hit QRL is taking right now, 42.5% and still dropping, hopefully there will be value left after it's over. No more buying for me. Bitcoin will be my only choice. I am down 50% on all my coins combined.
Glad I bought some 90% Silver and Gold a few days ago. Lol
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Fri Jul 28, 2017

It's dropped so far it's almost free. QRL is one of the few coins I still hold, other than BTC, and really the only reason is that it would be such a massive loss to sell it. It's worth less than half as much as the cheapest price I ever paid. There is little to lose by continuing to hold it, and keep that massive loss on paper.


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