We all know that it is not easy to steal the private key. There are millions of Bitcoins that have been lost so far, it would be more logical to try them out (at least you will not commit a crime). I found an article about the possibility : Here is a private key in hexadecimal - 256 bits in hexadecimal is 32 bytes, or 64 characters in the range 0-9 or A-F.
E9873D79C6D87DC0FB6A5778633389F4453213303DA61F20BD67FC233AA33262
This private key does not exist by the way.
So you see, there are 64 characters, and each character is hexadecimal (can hold 16 different case insensitive values: {0,1,2,3,4,5,6,7,8,9,A,B,C,D,E,F} ), meaning there are 1664 possible private key combinations.
Now let’s go big.
The current world population is roughly 7.6 billion. Assume everyone holds a wallet (meaning 7,600,000,000 private keys).
Even with this imaginary best case scenario, the success rate of randomly guessing a private key correctly is:
100⋅7,600,000,0001664=0.0000000000000000000000000000000000000000000000000000000000000000065634881018717779152936274157283036740481602769715738%
Extra:
So even if you had the computing power of Sunway TaihuLight (a Chinese supercomputer which, as of November 2016, is ranked number one in the TOP500 list as the fastest supercomputer in the world), which is about 9.3⋅1016=93,000,000,000,000,000 floating point operations per second (flops), then giving there are 86,400 seconds a day and about 365 days a year, and (falsely) assuming it takes 1 flop to generate a private key and 0 time to check for its correctness, then a correct guess would probably occur once every-
1365⋅(16647,600,000,000)(86400⋅(9.3⋅1016))= 5194882658574989737995779322992527357514014.0710380707
years.
This is a-
5194882658574989737995779322992527357514014.071038070713,800,000,000=376440772360506502753317342245835.31576188507761145439
times the existence of our universe (the big bang took place approximately 13.8 billion years ago).
Good luck! So what your saying is that it's, in fact, actually quite Impossible to even get 1 successful key... This would also suggest that even with a successful key... There is no guarantee that there will be a balance... So all that work will most likely end with an account with a balance = 0 Certainly, it will be a greater disappointment. In a short time you crack the private key which is needed 51 billion year, but balance is huge ''0''. That is why I found this calculation and shared it so that those who have such an idea do not bother to do so. |
|
|
|
|
Reading these kinds of news every day shows that adoption has been moving at incredible speed. As a matter of fact, I had doubts about how Bitcoin will be accepted, but these innovations are compel me to think ''will it be accepted?''. But it is strange that decentralized money is used as main money.
|
|
|
|
|
They can not do anything against Bitcoin. They can survive for some time, but then we watch the collapse with pleasure. There should be an indicator or something that could bring us all to the same idea about the increase of Bitcoin. The T and F analysis is for this, but I think there might be a superior feature.
|
|
|
|
|
I doubt that this will increase continuously. So, the better increase was in ETH and LTC, and did not happen without reason. The king is BTC and when it breaks the resistance of around $4200, then we can see it as an increase of up to $6000. For now, there is no technical or fundamental reason for an increase.
|
|
|
|
We all know that it is not easy to steal the private key. There are millions of Bitcoins that have been lost so far, it would be more logical to try them out (at least you will not commit a crime). I found an article about the possibility : Here is a private key in hexadecimal - 256 bits in hexadecimal is 32 bytes, or 64 characters in the range 0-9 or A-F.
E9873D79C6D87DC0FB6A5778633389F4453213303DA61F20BD67FC233AA33262
This private key does not exist by the way.
So you see, there are 64 characters, and each character is hexadecimal (can hold 16 different case insensitive values: {0,1,2,3,4,5,6,7,8,9,A,B,C,D,E,F} ), meaning there are 1664 possible private key combinations.
Now let’s go big.
The current world population is roughly 7.6 billion. Assume everyone holds a wallet (meaning 7,600,000,000 private keys).
Even with this imaginary best case scenario, the success rate of randomly guessing a private key correctly is:
100⋅7,600,000,0001664=0.0000000000000000000000000000000000000000000000000000000000000000065634881018717779152936274157283036740481602769715738%
Extra:
So even if you had the computing power of Sunway TaihuLight (a Chinese supercomputer which, as of November 2016, is ranked number one in the TOP500 list as the fastest supercomputer in the world), which is about 9.3⋅1016=93,000,000,000,000,000 floating point operations per second (flops), then giving there are 86,400 seconds a day and about 365 days a year, and (falsely) assuming it takes 1 flop to generate a private key and 0 time to check for its correctness, then a correct guess would probably occur once every-
1365⋅(16647,600,000,000)(86400⋅(9.3⋅1016))= 5194882658574989737995779322992527357514014.0710380707
years.
This is a-
5194882658574989737995779322992527357514014.071038070713,800,000,000=376440772360506502753317342245835.31576188507761145439
times the existence of our universe (the big bang took place approximately 13.8 billion years ago).
Good luck! |
|
|
|
|
Decentralized exchanges are good at not knowing personal information, but it is difficult to encounter decentralized exchanges that work normally today. Why do not we use them if they are secure and reliable? If you look at the new ICOs, you will see that the majority is about exchange, but which of them is decentralized?
|
|
|
|
I agree you shouldn't "believe everything you read from the internet." either.
HOWEVER, (I didnt read the guide either yet) someone out there supplies free information and that is what the internet is about (Yes, he/she wants to make money out of it obviously). But that doesn't have to be bad. They have obviously spent time creating a PDF and a real company behind.
Of course, in order to get started, you should first gather information, then test it and then continue with small amounts of money and learning from the mistakes and as time goes by you will be more experienced. On the other, both of you are right, but you should always avoid the wrong information, because false information means false analysis. |
|
|
|
|
I appreciate your effort to inform and fully agree with what you say. And my advice is to try the 'nano ledger' to store the bitcoins. Your security level will further strengthen and you will have more control on your funds.
|
|
|
|
It seems unpredictable how the effect will be on Bitcoin price. When we look at last year, Chinese new year has had a big impact on the price and this year is not guaranteed. But, after the last price drop, we also witnessed that it was not affected when we think about the holidays.  |
|
|
|
|
I agree with McAfee. Which side is supported by community, it will develop accordingly. But, I am afraid the community that wants to continue with the decentralized system is more likely, and the result can be poor. Because if you investigate today, you can find more people who do not believe in the decentralized system.
|
|
|
|
Let's start with the fact that just after almost a year and a half not many can earn money on bounty, and this is a very ungrateful job. I think this year the situation will not change, and it will be still difficult to make money on bounty.
What to do? Is there a way out?
Yes, there is one single way out, this is work on yourself for free, spend all the time that goes to the bounty for self-education, the study of new trends, those that require intellectual activity.
For example, out of 1,000 people performing the bounty, 70% will continue to fulfill them in the hope that in the future they will get rich. 25% will simply come out of this whole story and the cryptocurrency for them will only be experience and memory. But only 5% will understand that this niche is only developing, and experts, experts in their field are required here, they will start exploring other ways of making money, it could be programming, marketing. And of these 5% only 5 people will not give up and will work hard to reach their goal.
What I am talking about, people give up very easily, without even trying, losing their chance to gain experience, possible earnings. If you just think about the fact that very low% of people really try to achieve something, then theoretically everyone can achieve anything, you just need to make the effort and time.
Thus, those people who may not even be very capable, but they have motivation, they understand that nothing is impossible, they reach heights.
I did not try to convince anyone or something else, I just wanted to talk, to express my opinion on this matter.
I wish you good luck and patience!
I am agree with most part of your post but trading is not all about intelligence. If trader can make profitable trades then only thing left to do thinking about profit at the end of day. Motivation with skills can boost trading activity which can result more profitable trades. Hope new traders will learn from mistakes of other traders and sharing our opinions here only serves to this purpose. |
|
|
|
Most of the exchanges seem to want to deal only with Blockchain coins. I wonder, is there anyone who want to experiment with a non-Blockchain one, with its own protocol, own principles, etc. And if not, why?
Interesting idea and i can be a volunteer if needed by such project. Experiments with new protocol requires technical skills and awareness about industry. Why not  |
|
|
|
Nice to see someone works hard to deliver last news and developments with this service. I hope there will be no bias when giving review,rating to ICOs. Good luck. |
|
|
|
I feel patient enough to wait for the bounty delivery from the gifts that I follow. It's been almost a year for me to wait for the gift to be delivered, but it's still promised. Is this also still impatient ? !!! well i cant blame you but surely it will come just a matter of time that market now is falling and all of the projects / ICO'S is doing their best to give a Good service to their investors just be patient its hardly to survive now a days. if the time comes they will give you what they promise  It is not about reliability of project and the main thing is market conditions which dictates the ICOs. If we can see next bull run then it will be easy to get higher return on the investments. Bounty hunters are not patient and it is all about for majority of bounty hunters. |
|
|
|
Why did Vitalik talk well of BitTorrent before it was Tokenized? Is this just an Ethereum vs Tron thing? I was really confused when reading about the BitTorrent token as BitTorrent is an open protocol that was released 2 of July 2001 https://quantum1net.com/what-is-with-the-bittorrent-thing/After getting hitted by binance the price surged more than 110% for the first hour and people bought whole sold tokens of ICO under 15 mins. In bear market this dream came true and getting listed by binance help them to push price limit more higher. |
|
|
|
Craig Wright testifies an oath, claims he is Satoshi Nakamoto; Dorian Prentice runs from media in a story worth becoming an action movie; Researchers say that Hal Finney is the closest candidate they have analyzed over years; Nick Szabo edits his articles after Bitcoin launch; The NSA develops the Bitcoin hashing algorithm SHA256; and mind blowing conspiracy theories on the creation of Bitcoin. All that you can read in my article: https://bestcoininvestments.com/who-is-satoshi-nakamoto/I would absolutely love if you could share some pointers. There are so many assumptions on the mysterious pseudonym. People taking sides to their liking. At this moment it would not seem essential at all, because Bitcoin is living its own life now. Yet we ask again: who is Satoshi Nakamoto? What do you think? Share your beliefs on who created Bitcoin!  Satoshi Nakamoto can be name of group who thinked, designed,created first worlwide coin. I have no idea tbh about personality of that guys but this looks like another rumor created by internet heroes. It is waste of time to search the guy behind bitcoin that serves to online anonymity. |
|
|
|
|
Kraken looks like better option and i advise to use their service. If you are looking for exchange with deep pockets then using OTC will be better option in this case. Localbitcoins also can solve this problem if you feel safe with their escrow service.
|
|
|
|
I've been tested and used different trading/exchange platform and most of them have a Level 1, Level 2, Level 3 verification. Below are the things in each level (Not all of these are accurate and some of this is made up just to make an example)
Level 1: You need to give your full name (Cannot be changed) and you will be able to withdraw not more than 1 BTC
Level 2: KYC document like passport, drivers license, etc. and you will be able to withdraw not more than 10 BTC
Level 3: A picture of you holding your ID and you will be able to withdraw more than 10 BTC
Here are just examples I've made, you can use any exchange with only finishing the Level 1 verification and you can use any name you want but this is only for traders or investors that doesn't have big investments if your investments exceeds 1BTC then you need to complete the level 2 verification.
Thanks for information. If i know correctly address verification is required in order to be able withdraw more than 10 BTC. Driver license itself is not enough for passing Tier 2 level. |
|
|
|
It is very simple and i will give you my secret. 1. I buy with my spare money so as not to be in a fix. 2. I hold for long term. 3. i don't panic not for any reason and most of all 4. I keep my emotions in check.
I don't say this is hidden secret or holy strategy created by you but holding is not easy under bear market circumstances especially if downtrend continues for a long time. |
|
|
|
|
Show Posts
