AM I RIGHT

first off, it's not right you brainlet
second, learn algebra cuz it hurts how shallow that critical think was
But here is why supercomputers aren't a problem youtube.com/watch?v=S9JGmA5_unY

ok, well this explains that it would be expensive to do. but doesn't it still mean the whole system is unsafe?

why would it be unsafe?

Yes, but it would cost too much to do this just to find maybe one bitcoin wallet that may or may not have anything in it.

Same thing with DDOSing the network. It costs more to DDOS it and spam the network with bullshit wallet addresses and transactions than it is to just mine it.

The Bcore cuckold autist argument is to keep the blocksize to 1MB, which goes against Satoshi's original vision. They claim bitcoin will get spammed out of existence if they make it 4MB or 32MB yet this hasn't happened yet in history of cryptocurrencies.

well because the whole system appears it can be broken by happening to randomly guess the right number. i mean think about it. look, i get it is unlikely to happen. but the point remains it COULD happen. and there would be no way to stop it or reverse it if i understand correctly. banks do not have this risk because they can intervene if there is a problem or a hack. so why on earth would anyone accept the possibility of this risk with the coins? yes, it PROBABLY won't happen, but is that really good enough? it DEFINITELY won't happen in traditional systems that have the ability to step in when necessary

youtube.com/watch?v=S9JGmA5_unY
With SHA256 encryption
If you had 4 billion galaxies, each containing 4 billion earths, running 4 billions supercomputers by every inhabitant, you'd still only have a 1 in 4 billion chances of randomly guessing the correct numbers.

SHA-2 has an output size of 512 bits, so finding a collision would take O(2^256) time. Given there are no clever attacks on the algorithm itself (currently none are known for the SHA-2 hash family) this is what it takes to break the algorithm.

To get a feeling for what 2^256 actually means: currently it is believed that the number of atoms in the (entire!!!) universe is roughly 10^80 which is roughly 2^266. Assuming 32 byte input (which is reasonable for your case - 20 bytes salt + 12 bytes password) my machine takes ~0,22s (~2^-2s) for 65536 (=2^16) computations. So 2^256 computations would be done in 2^240 * 2^16 computations which would take

2^240 * 2^-2 = 2^238 ~ 10^72s ~ 3,17 * 10^64 years
Even calling this millions of years is ridiculous. And it doesn't get much better with the fastest hardware on the planet computing thousands of hashes in parallel. No human technology will be able to crunch this number into something acceptable.

Yes, that would be true if miners were simply guessing the right number, which you're using as an analogy.

Read about how PoW en.bitcoin.it/wiki/Proof_of_work

>I've left a link in the description to a reddit thread

Into the trash it goes

Do you use online banking?
You run the same fucking risk.

ok, this is crazy how the people in this thread responding don't seem to care at all that the system is vulnerable to a complete and utter wipeout. all you keep responding about how it is UNLIKELY and would PROBABLY take a really long time. but what if it doesn't? what if a guess is right on the first try? you keep saying "oh it would take so many years" but guess what? that's just not true. it PROBABLY would take that long but it also might take less than a minute if the guess is lucky. so the entire system is vulnerable. you don't have this risk in traditional system because they have power to prevent this. that's the whole point. that's why it is stupid to want a financial system that can't be reversed

the whole thing operates on the fact that chances of this happening are extremely close to 0

not true. banks have all sorts of regulatory requirements for exactly this reason. yes, they can be hacked, but they also are easily able to reverse the hack so it's not a big deal. from what i' seeing in this thread, that is not the case with coins. coins are UNLIKELY to be hacked, but there is no chance to reverse if it happens. that sounds like a flawed system

You are completely, utterly retarded. I refuse to believe this is serious.

ok so all you guys are willing to accept your entire finances being CLOSE to safe? that is absurd. with traditional banking, they are TOTALLY safe, chances of something like this happening are 0, not CLOSE to it

this is the day when Veeky Forums died

nice counterargument. o wait, you don't have one. so you're totally fine having a vulnerability with absolutely no way to recover just because it PROBABLY won't happen. gee what a great system

quantum computers will null and void crypto
but we have a few years before that happens

look, the chances of this happening are so close to 0 that if I were to worry about them, I should be way more worried about getting a heart attack, brain aneurysm, getting hit by a meteorite or lightning or there being a serial killer in my room or an alien invasion wiping out humanity, because all those things are magnitudes and magnitudes and magnitudes more likely to happen
this chance is so close to 0 that a human brain can't even appriopately imagine how unlikely that event is to happen

ok that actually makes sense. if this math is accurate then i will admit i am wrong.

Does anyone of you actually know how the blockchain works? OP is asking about secret keys and everyone answers how mining is secure (in a quite wrong way btw)

Yes OP, if someone guessed your private key to your wallet he would be able to spend your bitcoin, but the chance of that is really close to zero, too close to justify any effort to find it.
Visit the website directory.io (google it, it's no virus), there is a "list" of every public/private key pair, you can generate them by yourself, but the website is 904625697166532776746648320380374280100293470930272690489102837043110636675 pages long, with about 100 entries on each page, so good luck.

And for the people saying how unlikely it is to have two solutions from two people at the same time when mining: This happens, and the proof of work protocol says that the valid blockchain is the one on which more people rely on (ie which one gets mined faster).

Also there are thousands of possible solutions when mining a block, it's just a race to be the first one to find one of them, which then gets accepted as the true one by all other miners.

I really, really suggest finishing high school before you post.

No person shall keep his entire worth on 1 address

So even if you guess the number, take that shitty balance on 1 address, you deserve it

This is same as losing money on fees to banks, but the risk is smaller and fees are higher

That is not how it works. It is more like a database with every account having a private key that gives you access.

You can sign stuff with your private key and other ppl. can verify that you signed it using your public key.

But in theory you could brute force the private keys. The problem is that there are so many keys possible that it is virtually not doable.

There is actually a group of people trying this:
lbc.cryptoguru.org/about

Addition: The reason why quantum computing is a danger to this concept is that the key generation heavily depends on large prime numbers. Quantum computers could calculate prime numbers much more efficient than conventional computers.

>supercomputers are used to find these numbers and then store them as coins
Nope, infeasible. You may be confusing PoW with the ECDSA.
>but the supercomputers find them
Nope, they can't. Not within the lifetime of the universe anyways.

Stop being a brainlet.

holy shit op, you're a GENIUS

nobody in crypto ever thought of that! CRYPTO IS OVER GUYS, YOU JUST NEED TO TRY A FEW RANDOM NUMBERs AND GET EVERYONE'S MONEY GG

SELL SELL SELL

the fact is it's possible but so stupidly fucking unlikely that it is isn't FEASIBLE. You are more likely to lose money on a bank than someone guess your private key, even with the most powerful supercomputers running in tandem to find it

holy shit i just made a program that trialed 10,000,000 random numbers and already gathered 87.3426 BTC

i hope ppl don't realize this glitch before i'm a billionaire

lbc.cryptoguru.org/stats

It is much less profitable than mining kek.

hahaha you fucking retard. Yes, it's about "randomly guessing the right number," but the odds of you guessing the right number are about

1/10000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000

that's how fucking safe this is. the fucking nuclear launch codes run on essentially the same hash system. THAT'S how safe it is.

holy shit... is biz really this technologically inept? A bitcoin is not a "secret number" wtf? Your bitcoins are just a number on a balance sheet. The bitcoin ledger says your address has X number of bitcoins, there is no actual data that is unique per bitcoin. In fact bitcoins don't really exists, only addresses with balances do.

The ledger is made secure by the blockchain which prevents people from double spending or lying about the amount of bitcoins they have. The way it works is that miners around the world work to generate random numbers until they find one, that when compared to a hash of a block of transactions, has a shit ton of zeros in it. Nodes in the network get blocks from random people and know the one with the most zeros has the most amount of mining power behind it and trust that one. This is why its almost impossible for a single hacker to beat out the entire world's mining power to hack bitcoin.

I've known all this shit for years.
>is Veeky Forums really this technologically inept?
Yes. Veeky Forums is dead and that's why so many of them really aren't making money anymore.

>If you had 4 billion galaxies, each containing 4 billion earths, running 4 billions supercomputers by every inhabitant, you'd still only have a 1 in 4 billion chances of randomly guessing the correct numbers.
I'm going to figure it out, and then you'll all be sorry.

funny because i was just explaining this to someone.

there's approximately 1.57921 * 10^77 possibilities for your private key
that's about
1579210000000000000000000000000000000000000000000000000000000000000000000000000
possibilities

now here's the key.
POPULATION OF PLANET EARTH ~= 7.442 billion
that's
7442000000
getting the picture yet?
no right? You can still technically get your wallet randomly plundered right?
Sure. But thing to realize: wallets are FREE. YOU CAN MAKE AS MANY AS YOU WANT.

Suppose in some fantasy world ALL 7.442 billion people on earth have bitcoin, and they ALL split their net worth into 100 wallets with 1% in each.
Then we have 744.2 billion wallets.
then the chance of someone randomly tapping in even one private key all 744 billion wallets to steal a whopping 1% of someone's net worth:
1579210000000000000000000000000000000000000000000000000000000000000000000000000 / 744200000000 = 1.555927 * 10^65 or

1 in 155,592,700,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000
For comparison: chance of winning the Mega Millions: 1 in 258,890,850

Any questions?

what if you randomly guess Bill Gates debit card password? you become billionaire with just a small code

what if our unicervse a giant bitc p in hash

what if you suck a dick... and like it

The whole point is it's far more profitable to just mine btc