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This question already has an answer here:

D-Wave has commercially available 512-qbit quantum computers now. A lot of big names are taking it seriously. Google, NASA, and USRA have joined forces to start a quantum AI lab.

How far are we from destroying classical encryption? Perhaps a more direct question, what will it take for my bitcoins to be in danger of a quantum brute force attack?

EDIT: I posted this question after reading a similar one, but felt that it was relevant since the other question is 2 years old now and DWave seems to have made new developments (major increases in qubit depth, new interests).
The comment below mentions that DWaves machines aren't crypto-breaking capable, and also that QC is only effective against asymetric encryption (the bitcoin kind!). I wonder if someone can expand on these points...

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marked as duplicate by Maeher, CodesInChaos, Gilles, mikeazo Jun 5 '13 at 13:35

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    $\begingroup$ 1) D-Wave's QC isn't of the crypto cracking variety. It's unclear if it's a QC at all 2) There is plenty of classical crypto that survives QCs. Only the popular asymmetric schemes get broken by QCs. Symmetric crypto and some unpopular asymmetric schemes survive. $\endgroup$ – CodesInChaos Jun 5 '13 at 9:16
  • $\begingroup$ See Scott Aaronson's blog to see the latest info on D-Wave. Apparently D-Wave has NOT demonstrated any real quantum computing yet. $\endgroup$ – William Hird Jun 15 '13 at 15:58