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There isn't much of a threat IMO as even the industrial-grade supercomputers won't even be able to crack a private key off of a bitcoin address. Also keep in mind that there aren't any commercially-available supercomputer anywhere that can come near the level of quantum computing, or even quantum computing in itself is still an exclusive privilege to experience. Again, it will potentially take hundreds of years before we crack SHA-256, before going in to the juicy tidbits of bitcoin's algorithm. Perhaps by then, humanity would cease to exist because of reasons..
Lets take your example of quantum computing and see what we get. Quantum computers already exist but work so hard that cooling is an issue, but once that problem is solved= watch-out. Here is a statement from bitcoin wiki "it is known for sure that it would take a sufficiently large quantum computer on the order of only 128 (to the third power) basic quantum operations to be able to break a Bitcoin key using Shor's Algorithm. This might take some time, especially since the first quantum computers are likely to be extremely slow, but it is still very practical". That works out to 2,097,152 operations. Now imagine how that number will change once we actually learn to harness the true power of quantum computers. |
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[/quote]But that's not how algorithms work, these aren't world war two codes, these are extremely highly sophisticated algorithms, more humans means nothing, they can't change the specifications o the algorithm.
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More humans means that advances in technology takes place, meaning new computing languages, new computing hardware/software, and new ideas. These are highly sophisticated algorithms to who? Would an advanced alien race come here and say "wow, you guys are highly sophisticated"? If we were a highly sophisticated race I doubt we would still be using the same combustible engine for over a century.
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There isn't much of a threat IMO as even the industrial-grade supercomputers won't even be able to crack a private key off of a bitcoin address. Also keep in mind that there aren't any commercially-available supercomputer anywhere that can come near the level of quantum computing, or even quantum computing in itself is still an exclusive privilege to experience. Again, it will potentially take hundreds of years before we crack SHA-256, before going in to the juicy tidbits of bitcoin's algorithm. Perhaps by then, humanity would cease to exist because of reasons..
If you look at the history of encryption, none has lasted as-long as it is assumed sha-256 will last. I think any encryption available today will be broken in 20-30 years. The reason I believe that is because the percentage of society involved with computing is extremely low, computers have been popular for what...25-30 years maybe? As that percentage increases, more and more minds become involved in the advances of computing, making the likely-hood of changes extreme. But, seeing as bitcoin is based off of the elliptic curve over Fp, it will not be a simple task. |
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The OP asked about NANO computing, not quantum computing. Nanocomputer refers to a computer smaller than the microcomputer, which is smaller than the minicomputer. ... The term nanocomputer is increasingly used to refer to general computing devices of size comparable to a credit card.
Nano computers will enable us to put a bitcoin node on a card or on a USB stick. Would we then be able to utilize the power of multiples of such devices? Imagine a mining pool ran off nano devices, or some type of nano raid array if possible. |
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My thought on that is bitcoin would become dead. I for one like bitcoin, but I love the idea behind bitcoin even more. Nano-computing is going to become a reality in terms of governments and big institutions in the very near future, when that happens wont the blockchain become un-encryptable? How could bitcoin make changes in preparation of that fact?
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What do people think will happen to bitcoin once nano-computing becomes more wide-spread?
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What does everyone think about the idea of a Universal Basic Income?
It is gaining popularity on both sides of the political spectrum, and there are increasing numbers of live trials of the system.
The concern is that the next wave of automation will create a new class of effectively unemployable people, and that as this continues some system will need to be in place to support citizens. Waves of automation in the past have simply created new jobs in different spheres. The industrial revolution cut agricultural jobs but created factory jobs. The development of computers over the last few decades has hit manufacturing jobs but replaced them with new opportunities in the service sector. The problem is that as AI starts to take hold, many of these jobs will go as well. It used to be the case that there were always jobs that computers couldn't do, but in the future this will rarely be the case.
Universal Basic Income also removes some disincentives to work, and what is called the 'welfare trap', whereby the resulting cuts to benefits due to new part-time work can make it economically preferable to not take part-time jobs.
So as we are generally a technically minded set of people on here, with one eye always on the future, what do people think? Is UBI inevitable? Is it desirable? Personally I think probably both. It is at least worth trying. It is a step towards reducing inequality, and will provide an element of empowerment to the disenfranchised, and so perhaps alleviate some social tensions. It will also drastically simplify existing complex and expensive welfare programmes. UBI needn't be hugely expensive either, an overhaul of the taxation system to make it more genuinely progressive could free up huge quantities of money.
My personal opinion is that as the work-force dwindles the government will as-a-result collect less taxes. Not only less income tax but almost all others as-well. If I do not work then I cannot pay for vehicle registration, fishing license, property taxes...etc. The government will notice that and as a result as time progresses, the older/outdated work-force dies off; with that same progression of time what is being taught in our schools will change to reflect the change in society, resulting in a cancellation effect. We most likely will not be alive when this problem exists, we will have been replaced by a society that has been taught(trained) to function in this new world gradually over time. Therefor your theoretical problem will not exist. Criticism on my thoughts is welcomed |
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Here is my address 194ZzWvFiRkigvDqYebfwg4GaJKj56YB7e. I transferred funds from 1-wallet(call it W/a) to that-1(call it W/b), saved keys, but come to find out I saved keys for W/a not W/b  . So technically I never had the priv key. Just forget these coins. It's almost impossible to recover your private key. Moreover, you never sent coins from this Bitcoin address, therefore even Pollard method will be useless in this case. I looked at your Bitcoin address and found that this transaction has a high fee (107 satoshi per byte): https://www.blockchain.com/btc/tx/f320a168b9b45de5316dfad5dfc55a1b82245d6d80e6ce7e6435041e7a0f307eI guess you didn't use Bitcoin Core that would definitely save all your private keys on the hard drive. That was during the time tx were not being picked up if you were being cheap with tx fee. I agree with your point on forgetting about the coins, I have for the most part, but don't hurt to check on'm every so often, just in-case someone found a new way to crack the code. I appreciate the words my man |
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So technically I never had the priv key.
Then technically you burned those coins and you can safely find better things to do than "crack the wallet". Sorry, but without any info it's not feasible to even try that. If it was not feasible this thread would not be here= https://bitcointalk.org/index.php?topic=4453897.0. |
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I would give 60% to the cracker when successful, and I take 40%.
I think that the best choice is to try by yourself. That's because: 1. you may know/remember/try some ideas related to the password which others may not know. 2. if you give the file away, there's a good chance that some people will tell they couldn't crack it, but actually, after a while, steal all those coins. Coinb.in uses email/password combo. Email can be anything (wowifu** edup@yessir.spam) for example. I use random stuff and never repeat. I tried writing down every possible email and password I could think of back in 2017 and passed it off to walletdave via reddit with no luck(it was two pages long). I will never remember what it is. There is no file, no seed words. Coinb uses email+pass+salt then hashes that stuff up a few times to create the keys in browser, and saves none of it. Only way is a good brute force method. In response to your second point; I would only trust "known" individuals, liquidating the wallet without my consent is a crime (not that there are no ways around that fact), if the person/s were to choose that route, I can't spend the coins anyway so at least someone would b able to. |
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Do you know your bitcoin address you can look it up on blockchain.com. If you have your private key still you can recover your coins. Just go to electrum.org them copy it in electrum and you should be able to get it. Let me know if you need help and if you get it send me the reward.
Here is my address 194ZzWvFiRkigvDqYebfwg4GaJKj56YB7e. I transferred funds from 1-wallet(call it W/a) to that-1(call it W/b), saved keys, but come to find out I saved keys for W/a not W/b . So technically I never had the priv key. |
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Forgot my wallet info back in 2017 before the BCH split. I used coinb.in as my wallet provider. I would give 60% to the cracker when successful, and I take 40%. Only reason I ask is because I see some interesting threads on here where people b cracking wallets. The wallet contains .309 bitcoin, .309 bitcoin cash, and .309 bitcoin gold, which = a total value of $3298+$144+$9 or $3451. Cracker would be looking at approx $2,000 of legal cash
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