Mining bitcoins with a Quantum ASIC

Quantum ASIC 

An Application Specific Integrated Circuit (ASIC) is a special type of IC solely designed for a special purpose. One very important purpose is mining bitcoin.

Mining bitcoin requires huge amounts of parallelization of tasks - breaking a task into many pieces, doing the task-pieces, then adding the finished pieces together - such as hashing and counting hash values.

Checking to see which hash in the hash value set meets the nonce needs to be done quickly as well. Because every minute, every second, counts in the grand race to obtain, as of right now, 6.25BTC (worth more than $162,500) before 10 minutes are through. 

Now research [1] into mining bitcoins with quantum computers has proven, theoretically, that the complexity for quantum search is O(sqrt N) where that for classical search using the most state-of-the-art ASICs can only go as low as O(N).

To put it in figures. Given a list of 10,000 sha256 hashes whence the nonce is hiding.  A quantum computer need only check 100 times while any classical computer will have to check all 10,000. It could check them fast, ok. But check 10,000 it will.

Here's the catch. This is only known to be the case if we are running Grover’s search algorithm on a general purpose quantum computer.

If Grover’s algorithm was the divide and conquer strategy for binary parallelization [2] , using a general purpose quantum computer would be like using a CPU where we need a GPU or an ASIC chip.

In other words, O(sqrt N) is not good enough. We can do better. Maybe, with more tweaking, we could achieve something near O(log n) hence 10,000 elements in a list could be traversed in not 100, but only 4 steps.

Now that's what I call parallelization using parallel universes. Teleport through all the noise.

--------------

Why it might work

Using a Quantum ASIC instead of what we have today - Quantum CPUs - for Bitcoin mining has a future because of Bitcoin's special nature.

Bitcoin is hard capped at 21 million coins which means that its system lends itself to a unique analogue nature for a distributed computing network. The bitcoins are like particles (hard coded to be fixed in number) and the behavior of particles is analogue.

In this regard, at its core, bitcoin mining must be realizable as an analogue system (since it brings forth a predetermined set of particluate bitcoins using a set schedule).

This analogue nature can be modelled with a BTC-specific quantum simulator which might be better than Grover’s search at sniffing out a nonce.

------------------

Final Thoughts

Here are other (possibly) uses of targeted specific quantum computational designs that might help with Bitcoin mining one way or another:

1. Building bitcoin computer systems resistant to DDoS attacks (by using entangled qubits as a redundancy).

2. Propagating tx signals faster through the network (by using entangled qubits which seem to communicate superluminally. The real proven power though is superdense coding)

‐------------------

References.

[1] - https://www.mdpi.com/1099-4300/24/3/323

[2] - https://www.sciencedirect.com/science/article/pii/S2405844016326032#:~:text=In%20a%20D%26C%20algorithm%2C%20an,support%20the%20feature%20of%20recursion.