Quote from: Billbags on September 18, 2014, 06:03:12 AM

Quote from: antibitcoinconsortium on September 18, 2014, 12:11:07 AM

the advanced progress in hacking the protocol and encryption is one of the reasons that bitcoin will completely colapse within a years time

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The bitcoin protocal is open source, so there is nothing to hack there and the only encryption are the keys to your wallet address.

Someone else has already done the math on that:

A private key is a 256-bit value, meaning there are approximately 1.1579e77 possible keys (There are about 1.2288e66 invalid values, but subtracting them from the full

The issue is calculating the private key from the public key or Bitcoin address using a mathematical formula by breaking the algorithm. It seems unlikely someone would break the digital signing algorithm all in one swoop, it would most likely be broken in pieces. In order to go from the Bitcoin address to the public key you have to break an additional, different algorithm.