I remeber stumbling into a website sometime in 2017, where you have a Barcode that just requires you to hover your cursor and then it comes out with some random private key and wallet address and then you save it as a paper wallet and you can actually use it to spend your bitcoin anytime you want, although, bitccoin was way below $3000 but the risk was lesser as such projects might be genuine but today, such will be a disaster as fraudsters have infiltrated all projects that creates avenue for easy useage of bitcoin. I do not advise anyone to use such these days as you might entirely loose your assets.
The idea of generating Bitcoin address with some character or string of your choice instead of generating random string of characters is known as Vanity address which was first introduced by Vanitygen who produces address taking inputs from you and giving results on that basis.The amount of time required to find a given pattern depends on how complex the pattern is, the speed of the computer, whether it is using CPU or GPU, and if you get lucky.
There are many mining pools who take fees from you for you desired Bitcoin addresses as they have more computing power dedicated to the network instead of individuals computing power
It is a costly and time consuming process :
https://i.ibb.co/PGgHSRj/Mn7hEl.jpgAverage time taken to crack addressBut in recent time these type of scams has grown and hacker are fooling people by generating fake vanity address in name of big organisations and people to lure people to donate to that particular address as most of them don't remember full length of address as its mixture of lower and upper case and integers. A recent report states such scam
]Fake vanity address in name of Elon Musk and Spacex accused of
$2 million scamSo is it profitable for hackers and how much easy it is generate such vanity address? And its cannot be done by a single individual because it's require much processing power and other things.So what are your thoughts on this?
