Topic: hacking secret keys in the future - page 2. (Read 1683 times)
One way to mitigate against that is to introduce a slower hash function into the mix, eg, instead of Sha256(Pwd) use Sha256(BCrypt(Pwd)) so Private keys cannot be as easily premined into rainbow tables.
let's say we're 20 years in the future and the world has adopted bitcoin as a global currency. We develop very sophisticated processing technology, and a bunch of nerds hack all the secret keys of the bitcoin network. That is a bad future.
If sha256 was hacked, then we update to sha512.If SHA256 was hacked, Bitcooin would be the least of your worries.
Yeah for sure, we would have a lot of other security issues to worry about if sha256 was broken. There will definitely be a fork to upgrade to better hashing if needed.
When it reaches the status of global currency, there will be huge budgets to keep bitcoin future-proof.
That's the beauty of bitcoin, it's adaptable!
That's the beauty of bitcoin, it's adaptable!
let's say we're 20 years in the future and the world has adopted bitcoin as a global currency. We develop very sophisticated processing technology, and a bunch of nerds hack all the secret keys of the bitcoin network. That is a bad future.
If sha256 was hacked, then we update to sha512.If SHA256 was hacked, Bitcooin would be the least of your worries.
let's say we're 20 years in the future and the world has adopted bitcoin as a global currency. We develop very sophisticated processing technology, and a bunch of nerds hack all the secret keys of the bitcoin network. That is a bad future.
If sha256 was hacked, then we update to sha512.Sure but AFTER it was hacked and the market crashed with the satoshi-coins from his premine.
let's say we're 20 years in the future and the world has adopted bitcoin as a global currency. We develop very sophisticated processing technology, and a bunch of nerds hack all the secret keys of the bitcoin network. That is a bad future.
If sha256 was hacked, then we update to sha512. let's say we're 20 years in the future and the world has adopted bitcoin as a global currency. We develop very sophisticated processing technology, and a bunch of nerds hack all the secret keys of the bitcoin network. That is a bad future.
If sha256 is broken it'll have to hardfork to a better algo. It's working for now.
When it stops working you'll notice from the monster-dump on the market.
So now that i think about it: in case Sha is broken it will be too late to fork already because markets will be crashed down before people become aware.
and a bunch of nerds hack all the secret keys of the bitcoin network
What secret keys, exactly?
Surely he means private keys.
Yes, but private keys are not of the bitcoin network. They are for individual accounts. Whatever they're referring to doesn't seem to make sense.
The implementation of various bitcoin storage media means various types of keys. Electrum has their own rendition. Ease of use and security haven't quite married up for bitcoin users in my opinion. This necessity of currency is a huge road block at the moment. I hear people talk about vault, cold storage, electrum, various electronic devices that go for over $100. Who the hell wants to pay $100 for a wallet? I don't pay my bank that much.
This is a huge problem. There won't be a "future" for bitcoin if this simple ease of use and security thing can't be worked out.
This is a huge problem. There won't be a "future" for bitcoin if this simple ease of use and security thing can't be worked out.
and a bunch of nerds hack all the secret keys of the bitcoin network
What secret keys, exactly?
Surely he means private keys.
and a bunch of nerds hack all the secret keys of the bitcoin network
What secret keys, exactly?
let's say we're 20 years in the future and the world has adopted bitcoin as a global currency. We develop very sophisticated processing technology, and a bunch of nerds hack all the secret keys of the bitcoin network. That is a bad future.
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