Topic: My reasoning why Bitcoin could collapse (soon) .. privatekeys/publickeys - page 2. (Read 493 times)

trying to find a public address from the richlist and then attempt to get to its specific private key using reverse engineering is a project even your descendants in thousands of years wont complete,

trying to brute force through all possible private key numbers until you find the public address from the richlist is a project even your descendants in thousands of years wont complete,

within that time period the actual owner can spend/move.
the resources expended to attempt this far outweighs the reward.

the only way would be to physically find the owner of the funds. and with a hammer to their knuckles attempt to get them to reveal their private key. or to hack the location their private key is stored.

in short.
the math of cryptography is secure. your only worry is where and how you store the private key physically. which is only really a worry if you start shouting out that your rich enough for an un-ethical person to want to steal from you physically

the breaking into wallet access metode is currently difficult, and there is a possibility that in the future there will be an easy way to bypass the verification method. this is not a reason to influence investors to stop or reduce investment. because of my belief the developers will continue to update their systems to keep up with latest technology.

So you sum up a bunch of guessing and assumptions about private keys "possibly" being hacked in the future using complex pattern finding AI and you made the conclusion that bitcoin will collapse "soon"?
I don't know what to say.This theory made me laugh.

I don't think that hacking private key would be possible or if you  don't really trust it 100% then use hardware wallet.
Hardware wallets always have an upgrade to prevent those kind of things from happening.
So I wouldn't really think about it too much because as much as hackers want to create something to crack it the developers would always be a head of them on securing it.

I understand what are you talking about because once i think the same, i used to have two theories about how bitcoin can be doomed:

1.- Brute force with Quantum computers - https://bitcointalksearch.org/topic/quantum-computer-could-kill-bitcoin-5003339
2.- Artificial intelligence to generate an equation to get the private key from the public key - https://bitcointalksearch.org/topic/artificial-neural-network-vs-bitcoin-address-5086715

I posted both theories and both get discarded and explained by the community. So you should feel safe

This.

If it is possible to break the encryption on a private key, then we can break the encryption on a lot of other things which use similar or less-secure methods. Banking would collapse. Commerce, trade, and shopping would collapse. Many databases would be easily broken in to, including things like individual's health records, government identity databases, criminal databases, etc. The loss of bitcoin would be the absolute least of your worries.

Having said all that, if something like Quantum Computing or similar ever did become a credible risk, we could simply soft-fork to a new algorithm to mitigate it.

Quantum computers will likely be able to crack bitcoin private keys, but by the time this technology exists, there will be ample time to implement security countermeasures. One of the greatest assets this network has is the world's best cryptographers and developers, and I am confident they will be ahead of the technological curve and will resolve this problem in time.

I think even if pass 100 more years we will not have bitcoin private keys cracked, because is hard to do and the chance to do are small, you will see and is your decission if you want to invest or no.

I think your "don't invest" is a mistake you may regret in the future.

Your fears you should try to defeat them with a deepening on the algorithm.

If there will ever be a method to calculate a privkey, then bitcoin will really be the last of the problems we should eventually worry about because there will be enormously bigger problems.

Nope, you won't be able to crack a privatekey with rainbow tables.
A brainwallet, maybe but a privatekey no, you 're simply beyond hardware capabilities to run them against this.

Never gets old:



 

You should probably get rid of all the fiat money in your bank account too, then.  If Bitcoin's encryption can be broken, so can the encryption used in the legacy financial system.

Did you get Bitcoin Book first? might this articel could help you to solve about private key. Here you go, you'll get all answer to solve your doubt. Let's join with the future :p  https://github.com/bitcoinbook/bitcoinbook/blob/develop/ch04.asciidoc

I've reasoned to not buy anymore, for investment.  I never held a large amount of a coin, up to a few hundred dollars, but I've reasoned this.
Every public key related to an exact private key.
The algorithm to keep the private key a secret is very complicated.

I know if you google about brute force cracking public to private keys, it would take something, like, millions of years, with the current technology.
Though, I've also read, a few years ago, about things like "Rainbow Tables", that find patterns and stuff while trying to crack stuff, in a complicated way.
Now, Technology, and I'm thinking software now, is obviously evolving at increasing rate.

Artificial Intelligence is to.

I was looking plainly at a public and private key, and though, they're a bunch of keyboard keys , and one relates to another, so, they're the same thing, private
 key, public key.

But obviously I couldn't find a pattern simply by looking at the characters.  Maybe someone very smart could looking at a few hundred or so and figure it out, that would be wild.

Anyway, obviously some kind of pattern COULD  exist, and I'm not saying I'm right, because I do not comprehend the cryptography behind it, I only know some basic coding in a couple languages, but nothing about cryptography.  I do know, that a lot of smart people, are working on AI, as it's the future of stuff.

So, why couldn't a coder, start coding, methods where the software its self, in an AI way, start finding patterns in these private and public keys?  I haven't been looking into BTC in a while, maybe there's articles about this already, but I was just thinking about it.  

I think its possible a group, or someone, could find a pattern, using advanced code, Ai in mind, to decipher public keys.
The method of how it's encrypted is known, (Though, Wow, it seems confusing)
But the fact that that's known, and that it's a series of characters, means, there could (I think there IS) patterns to easily crack any public key, with a very sophisticated method, AI coding (If that's a term)

If that happened, and groups of people figured this out, the whole thing and all the alties would collapse.

Those are my thoughts. I don't "invest" anymore though I think its a great future as a currency even in practical non-tech environment, like a credit card.  

What do you think?