Topic: How does someone with a single wallet with 30k coins not feel vulnarable? - page 2. (Read 2891 times)
July 04, 2014, 02:25:12 PM
This image is misleading. You don't need to guess the true 256-bit private key that corresponds with the actual wallet. It is sufficient to compute any 256-bit private key whose public key hashes to the 160-bit RIPEMD hash present in the output script. Which is still infeasible, but a 2^160 address space is a completely different ballpark from a 2^256 one.
But before anyone starts worrying about that, if anyone had that kind of hashing power, at the current difficulty it is about 28 decimal orders of magnitude easier to calculate a block for the blockchain than to brute force a single 160-bit hash. In other words, no single address will ever be worth it, by a massive margin.
July 04, 2014, 01:46:45 PM
And perhaps 10,000 computers guessing at the private key?
I don't think you can find that many retards in this community....
July 04, 2014, 01:41:01 PM
I imagine very very nervous. I can't even imagine owning that many coins and would be pretty paranoid about still having access to them but wouldn't dare boot up the comp to check lol.
July 04, 2014, 01:39:33 PM
How does someone with a single wallet (with all their coins in) not have an address that starts with a fucking 3? That's what I want to know.
multisig is for corporations, board members and other groups.
i dont trust anyone else with my hoard, so why would i give 2 other people the ability to play with my coins behind my back..
as for the vulnerability.. id feel more vulnerable holding a debit card with $18mill and a driving licence in my back pocket.. its easy to forge a driving licence if you have a real one to copy the details and just put the thief's face into the picture area.. then just stroll into a bank...
i feel more secure holding a bitcoin privkey
You won't be able to withdrawal $18m at a bank.
I doubt you could even get $250,000 in cash,
and that amount would be FDIC insured.
Debit card thefts could be reimbursed by the bank.
What's safer about Bitcoin, is that the bank itself
or the government, can't freeze your funds or
give you a "haircut".
Exactly. You really do own your currency with bit coin. You also own the responsibility for keeping it safe. This makes a lot of people nervous.
Heck, it makes me nervous and i know what i'm doing , most of my coins are in cold storage.
We grew up our whole lives with banks taking care of our money for us.
But this is the new age of responsibility. I think in the future, people will generally store
some of their coins with trusted institutions (like coinbase vault) and some they will take
personal ownership of. Kind of spreads the risk around a bit.
I am the same way. I get nervous even with small transactions. I have spent a ton of time double checking addresses etc. I suppose the nervousness is a good thing because mistakes can be rather costly.
July 04, 2014, 01:34:26 PM
If I have that much, I would split them up and store them in a dozen addresses in smaller amounts. The keys will be safe guarded in different locations. It is not a matter of trust in the bitcoin security, it's physical thief I am worried about.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
July 04, 2014, 01:25:48 PM
You hire someone who's job is to keep those coins safe.
Problem solved.
Problem solved.
I would hire Mark Karpeles. He's very experienced.
July 04, 2014, 01:23:24 PM
You hire someone who's job is to keep those coins safe.
Problem solved.
Problem solved.
July 04, 2014, 01:19:25 PM
Think about it. 30,000 coins. A public key that everyone knows about now. And perhaps 10,000 computers guessing at the private key? I'd feel vulnerable.
that is all
that is all
Do u feel vulnerable living without an oxygen cylinder ? All the air may get concentrated in one corner of the room suffocating u to death.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
July 04, 2014, 01:11:37 PM
How does someone with a single wallet (with all their coins in) not have an address that starts with a fucking 3? That's what I want to know.
multisig is for corporations, board members and other groups.
i dont trust anyone else with my hoard, so why would i give 2 other people the ability to play with my coins behind my back..
as for the vulnerability.. id feel more vulnerable holding a debit card with $18mill and a driving licence in my back pocket.. its easy to forge a driving licence if you have a real one to copy the details and just put the thief's face into the picture area.. then just stroll into a bank...
i feel more secure holding a bitcoin privkey
You won't be able to withdrawal $18m at a bank.
I doubt you could even get $250,000 in cash,
and that amount would be FDIC insured.
Debit card thefts could be reimbursed by the bank.
What's safer about Bitcoin, is that the bank itself
or the government, can't freeze your funds or
give you a "haircut".
Exactly. You really do own your currency with bit coin. You also own the responsibility for keeping it safe. This makes a lot of people nervous.
Heck, it makes me nervous and i know what i'm doing , most of my coins are in cold storage.
We grew up our whole lives with banks taking care of our money for us.
But this is the new age of responsibility. I think in the future, people will generally store
some of their coins with trusted institutions (like coinbase vault) and some they will take
personal ownership of. Kind of spreads the risk around a bit.
July 04, 2014, 01:02:35 PM
How does someone with a single wallet (with all their coins in) not have an address that starts with a fucking 3? That's what I want to know.
multisig is for corporations, board members and other groups.
i dont trust anyone else with my hoard, so why would i give 2 other people the ability to play with my coins behind my back..
as for the vulnerability.. id feel more vulnerable holding a debit card with $18mill and a driving licence in my back pocket.. its easy to forge a driving licence if you have a real one to copy the details and just put the thief's face into the picture area.. then just stroll into a bank...
i feel more secure holding a bitcoin privkey
You won't be able to withdrawal $18m at a bank.
I doubt you could even get $250,000 in cash,
and that amount would be FDIC insured.
Debit card thefts could be reimbursed by the bank.
What's safer about Bitcoin, is that the bank itself
or the government, can't freeze your funds or
give you a "haircut".
Exactly. You really do own your currency with bit coin. You also own the responsibility for keeping it safe. This makes a lot of people nervous.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
July 04, 2014, 12:50:04 PM
How does someone with a single wallet (with all their coins in) not have an address that starts with a fucking 3? That's what I want to know.
multisig is for corporations, board members and other groups.
i dont trust anyone else with my hoard, so why would i give 2 other people the ability to play with my coins behind my back..
as for the vulnerability.. id feel more vulnerable holding a debit card with $18mill and a driving licence in my back pocket.. its easy to forge a driving licence if you have a real one to copy the details and just put the thief's face into the picture area.. then just stroll into a bank...
i feel more secure holding a bitcoin privkey
You won't be able to withdrawal $18m at a bank.
I doubt you could even get $250,000 in cash,
and that amount would be FDIC insured.
Debit card thefts could be reimbursed by the bank.
What's safer about Bitcoin, is that the bank itself
or the government, can't freeze your funds or
give you a "haircut".
July 04, 2014, 07:19:40 AM
If I wanted to steal these 30k, I would not try to brute-force this address. I would simply try simple and efficient techniques like, say, home-jacking, kidnapping or some other "traditional" techniques. These old-fashioned methods work even on cold storages !
The main threat against one's wallet is a matter of pure common sense.
Did you use an online computer to generated your keys ? Or even worse, a website ?
Where do you store them ? Who knows where they are ?
Are they stored in a way they cannot be altered by the years ?
Even better: does someone KNOW you own these BTC ?
Personally, if I ever had to store such a fortune, I would have generated the private/public keys with an offline computer (without network hardware), wrote it down by hand (or engraved on metal or even stone, whatever...) double-checked, triple-checked, then destroyed the computer used to generate the key and hidden the keys in a safe place. A really safe place. Not my pocket, nor a safe in my house. And I would never, ever talk about it to anyone until I decide to spend it...
The main threat against one's wallet is a matter of pure common sense.
Did you use an online computer to generated your keys ? Or even worse, a website ?
Where do you store them ? Who knows where they are ?
Are they stored in a way they cannot be altered by the years ?
Even better: does someone KNOW you own these BTC ?
Personally, if I ever had to store such a fortune, I would have generated the private/public keys with an offline computer (without network hardware), wrote it down by hand (or engraved on metal or even stone, whatever...) double-checked, triple-checked, then destroyed the computer used to generate the key and hidden the keys in a safe place. A really safe place. Not my pocket, nor a safe in my house. And I would never, ever talk about it to anyone until I decide to spend it...
This.
in short, this:
July 04, 2014, 07:11:35 AM
If I wanted to steal these 30k, I would not try to brute-force this address. I would simply try simple and efficient techniques like, say, home-jacking, kidnapping or some other "traditional" techniques. These old-fashioned methods work even on cold storages !
The main threat against one's wallet is a matter of pure common sense.
Did you use an online computer to generated your keys ? Or even worse, a website ?
Where do you store them ? Who knows where they are ?
Are they stored in a way they cannot be altered by the years ?
Even better: does someone KNOW you own these BTC ?
Personally, if I ever had to store such a fortune, I would have generated the private/public keys with an offline computer (without network hardware), wrote it down by hand (or engraved on metal or even stone, whatever...) double-checked, triple-checked, then destroyed the computer used to generate the key and hidden the keys in a safe place. A really safe place. Not my pocket, nor a safe in my house. And I would never, ever talk about it to anyone until I decide to spend it...
The main threat against one's wallet is a matter of pure common sense.
Did you use an online computer to generated your keys ? Or even worse, a website ?
Where do you store them ? Who knows where they are ?
Are they stored in a way they cannot be altered by the years ?
Even better: does someone KNOW you own these BTC ?
Personally, if I ever had to store such a fortune, I would have generated the private/public keys with an offline computer (without network hardware), wrote it down by hand (or engraved on metal or even stone, whatever...) double-checked, triple-checked, then destroyed the computer used to generate the key and hidden the keys in a safe place. A really safe place. Not my pocket, nor a safe in my house. And I would never, ever talk about it to anyone until I decide to spend it...
This.
But even still, I wouldn't put all the 30k in one wallet. I'd divide it up fairly small, just in case I were to lose a private key or something. That would make for a bad day.
July 04, 2014, 06:10:33 AM
How does someone with a single wallet (with all their coins in) not have an address that starts with a fucking 3? That's what I want to know.
multisig is for corporations, board members and other groups.
i dont trust anyone else with my hoard, so why would i give 2 other people the ability to play with my coins behind my back..
as for the vulnerability.. id feel more vulnerable holding a debit card with $18mill and a driving licence in my back pocket.. its easy to forge a driving licence if you have a real one to copy the details and just put the thief's face into the picture area.. then just stroll into a bank...
i feel more secure holding a bitcoin privkey
July 04, 2014, 04:46:23 AM
@OP: If you are talking about the 1a8LD address then there have been no outgoing transactions from that address so the public key is not known. Only when there is a spend transaction will we learn the public key.
July 04, 2014, 04:45:33 AM
How does someone with a single wallet (with all their coins in) not have an address that starts with a fucking 3? That's what I want to know.
^ This.There's a wallet file somewhere and you have to wonder how secure it is and how many people potentially have access to it. It's one thing money going missing from your bank account, it's quite another if bitcoins get moved. Zero chance of ever getting them back and no real way of ever proving who has access to the destination wallet.
Obviously the OPs "what if it gets brute forced" is not a concern.
July 04, 2014, 04:34:21 AM
No offense, but the title and the thread is simply stupid. He is a well known and successful investor/business man with a lot of money even prior to bitcoins. Now he has part of the money stored in bitcoins. Nothing special. Why would bitcoins make him more vulnerable than before?
July 04, 2014, 03:52:23 AM
If I wanted to steal these 30k, I would not try to brute-force this address. I would simply try simple and efficient techniques like, say, home-jacking, kidnapping or some other "traditional" techniques. These old-fashioned methods work even on cold storages !
The main threat against one's wallet is a matter of pure common sense.
Did you use an online computer to generated your keys ? Or even worse, a website ?
Where do you store them ? Who knows where they are ?
Are they stored in a way they cannot be altered by the years ?
Even better: does someone KNOW you own these BTC ?
Personally, if I ever had to store such a fortune, I would have generated the private/public keys with an offline computer (without network hardware), wrote it down by hand (or engraved on metal or even stone, whatever...) double-checked, triple-checked, then destroyed the computer used to generate the key and hidden the keys in a safe place. A really safe place. Not my pocket, nor a safe in my house. And I would never, ever talk about it to anyone until I decide to spend it...
The main threat against one's wallet is a matter of pure common sense.
Did you use an online computer to generated your keys ? Or even worse, a website ?
Where do you store them ? Who knows where they are ?
Are they stored in a way they cannot be altered by the years ?
Even better: does someone KNOW you own these BTC ?
Personally, if I ever had to store such a fortune, I would have generated the private/public keys with an offline computer (without network hardware), wrote it down by hand (or engraved on metal or even stone, whatever...) double-checked, triple-checked, then destroyed the computer used to generate the key and hidden the keys in a safe place. A really safe place. Not my pocket, nor a safe in my house. And I would never, ever talk about it to anyone until I decide to spend it...
July 04, 2014, 03:31:49 AM
legendary
Activity: 1862
Merit: 1011
Reverse engineer from time to time
July 04, 2014, 03:22:30 AM
Think about it. 30,000 coins. A public key that everyone knows about now. And perhaps 10,000 computers guessing at the private key? I'd feel vulnerable.
that is all
10,000 computers and still billions(or if not, then millions) of years away before they may hit a key. that is all
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