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Topic: Simulation of effect of eventual steal of bitcoins from Satoshi's early blocks (Read 13 times)

legendary
Activity: 4382
Merit: 9330
'The right to privacy matters'

This is a newbie question.

Let's make the following scenario: some hacker, with sheer luck (since finding a private key is so very improbable), manages to steal some bitcoins from one of the very early blocks (the first 5 were arguably mined by Satoshi). And then the hacker, being an anarchist, signs something like "i found a backdoor in secp256k1 lol".

What would be the most probable reaction from the crowds? How could I edge aginst this? I am looking for answers based on previous analogous situations in economics or finance (big surprise in something thought robust).

Thank you.

well the idea he hit a key based on luck is not new.

its meaningless if he does one block by luck .  lets say he tosses 1000 pcs at brute forcing a key. and normal luck means 300,000 years for him to hit it. No one would believe  he cracked it unless he does it 3 times or more.

The concept of someone hitting 3x 300,000 year  events in say a week would mean its cracked by a real method.

so it would need to happen three times really fast.

please note the idea of 1000 fast pcs needing 300,000 years to open a key by brute force is wrong as it would likely take 100,000 pcs over 30,000,000 years to find a key. (likely higher and more time)
Tfs
brand new
Activity: 0
Merit: 0

This is a newbie question.

Let's make the following scenario: some hacker, with sheer luck (since finding a private key is so very improbable), manages to steal some bitcoins from one of the very early blocks (the first 5 were arguably mined by Satoshi). And then the hacker, being an anarchist, signs something like "i found a backdoor in secp256k1 lol".

What would be the most probable reaction from the crowds? How could I edge aginst this? I am looking for answers based on previous analogous situations in economics or finance (big surprise in something thought robust).

Thank you.
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