Post
Topic
Board Development & Technical Discussion
Re: Brute-forcing Bitcoin private keys
by
BlackHatCoiner
on 21/11/2021, 09:22:53 UTC
It all has to do with the risk:reward ratio.
In my experience with life, everything has an effort:reward ratio. In the case of successfully finding an address collision (either P2PKH or P2SH) the effort required isn't a bargain. There are far more chances to solve 8 blocks and get yourself 50 BTC honestly.

At the moment, there's a difficult target of:
Code:
0000000000000000000c69ea0000000000000000000000000000000000000000

Which means there's approximately a 0.00000000000000000010268% chance to solve a block each time you hash.

That's 1 hash out of 974,658,869,395,711,500,974. To find an address collision, it's 1 in 2160 = 1,461,501,637,330,902,918,203,684,832,716,283,019,655,932,542,976.

If a person/group can calculate the private key of an address, then it would be best for them to calculate the keys of Patoshi.
Binance's address contains 288,126 BTC and their public key is - 02a720e54e39b28434a4c55462718b4584db973331a834141b8cad7e52c317f695. So, if you want to upset the market, here's your chance.

the weakness isn't in the hash function per se, hopefully NIST will come out with something way more substantial than slapping some hash function on top of some half-assed algorithm for their quantum crypto standard. they sure are taking their TIME!
I really have some trouble understanding you.