Because it is not 62, it is 58:
https://en.bitcoin.it/wiki/Base58Check_encoding
'0' 'O' 'I' and 'l' are not used, 62 - 4 = 58.
So, in fact, his equation is in error. We only use 24 of the captital letters so 2433/5833 = (24/58)33.
I am surprised no one else (including me) caught that the first time around.
It was interesting to read my OP in this old thread. Man, all I can say is what a noob I was back then
https://en.bitcoin.it/wiki/Base58Check_encoding
'0' 'O' 'I' and 'l' are not used, 62 - 4 = 58.
So, in fact, his equation is in error. We only use 24 of the captital letters so 2433/5833 = (24/58)33.
I am surprised no one else (including me) caught that the first time around.
It was interesting to read my OP in this old thread. Man, all I can say is what a noob I was back then
Thank you for your answer!
In bitcoin address, there are 4 bytes error checking code, so i think the formula shoud be (24/58)29, am i right?
1 byte != 1 base58-digit
4 bytes = 256⁴ ~ 4 billions
and
58⁵ < 4 billions < 58⁶
So the signature is actually 6 base58-digits