Chinese team released software to mine Satoshi's coin

[frankenmint]

If they lucky enough.. they might be able to find the private key. However.. even if they find it.. No one will be using Bitcoin since it is insecure.

So, what's the point of finding it if you can't sell it for a good price?

Says the guy with a signature campaign, although I get it.   If you have $25 you can start a full online business and take bitcoin, even free if you're savy with software or website development, just saying.

And while that team could try their best, actions speak louder than announcement threads.  I think the true motivation could be reversibility of lost bitcoin maybe.

[jdebunt]

Assuming this is not a virus (which it probably is), what are people thinking by coming up with things like these? Just work for your money, all of us have to do it

[frankenmint]

Assuming this is not a virus (which it probably is), what are people thinking by coming up with things like these? Just work for your money, all of us have to do it

Some people feel that knowledge entitles them to instant riches or that it works like movies.  Sometimes it takes years to build up a repertoire of skills to find higher paying work, but in the end it seems to come down to decisions made on your own financial efforts that amount to the largest rewards - even if that means freelancing for the captains of industry here and there.

[fox19891989]

The truth is Bitcoin could be hacked! BUT YOU NEED TO LIVE FOREVER.

There are 1,461,501,637,330,902,918,203,684,832,716,283,019,655,932,542,976 (Quattuordecillion) +- possible key pairs.

Method

STEP 1:
You cover all eight planets in our solar system with storage devices which can store yottabytes of data.

STEP 2:
You find another eight planets in other solar systems and cover them with billions of supercomputers

STEP 3:
You generate every bitcoin key pair then store each of them in the storage devices, on the surface of those planets.

STEP 4:
You use the supercomputers and loop through the data

STEP 5:
Collect your reward

Estimated time of complition for one key: 256^256* years

Reference:
https://bitcointalk.org/index.php?topic=1008489.msg10943694#msg10943694

LMAO, i am sure the hacker team is doing nothing, it's impossible to hack, or exchange owners would be cry.  

[Ingatqhvq]

Why don't you collect the top 100 or 1000 rich address and then find their private key? there is no difference.
Which means any one try to find a private key with your method is really stupid 

[NyeFe]

Why don't you collect the top 100 or 1000 rich address and then find their private key? there is no difference.
Which means any one try to find a private key with your method is really stupid 

The total entropy of your method would be (2^256)x100 or (2^256)x1000 which is

1.1579209e+79 Or 1.1579209e+80 possible trials

[AGD]

Why don't you collect the top 100 or 1000 rich address and then find their private key? there is no difference.
Which means any one try to find a private key with your method is really stupid 

The total entropy of your method would be (2^256)x100 or (2^256)x1000 which is

1.1579209e+79 Or 1.1579209e+80 possible trials

Which means, that this is endlessly (or eternally) stupid. Only trusting software that makes the promise to hack Bitcoin is worse.

[Beliathon]

A Chinese team just released a software, targeting to find the private key of addresses that are believed to be held by Satoshi himself.

Good luck.

[Skunk Fu]

Hey, I can create a software targeting Satoshi's addresses too.
Will I?

Nope.

The photo above says it all.....

[AT101ET]

I imagine that if Satoshi's wallets could be hacked, then so could all of ours. That would render BTC as a 'flawed' system and people would dump all their coins.
Doesn't make sense to me...

[Oscilson]

I imagine that if Satoshi's wallets could be hacked, then so could all of ours. That would render BTC as a 'flawed' system and people would dump all their coins.
Doesn't make sense to me...

I am sure my wallets are secured by law of universe.

[unamis76]

These chinese people really have nothing else to do... These guys are either trying to cheat newbies, spreading a virus, or trying to make a botnet.

If they think they can pull it off, well... They're really funny

[fryarminer]

Here they are working hard at it!!

[jbrnt]

I think it is possible to hack satoshi's coins, but it will take a lot of computing power and a long time to crack it. If the project does succeed in a few year's time, participants' share of the 50btc is so small that it is more profitable to use the power to do something else from the beginning. 

[Klestin]

Hmmmm... that is interesting/funny and crazy at the same time . Even if they bring a SuperComputer, they can't possibly crack it in several 100 years. And even if they do it let's say in 50 years , they will get 50 btc , 1 btc a year ? . They can mine better with that suer computer of there's

Not in 50 years. Not in 100 years. Not before our star expires. Not before the entropic end of the Universe.  It's a no.

[NyeFe]

Hmmmm... that is interesting/funny and crazy at the same time . Even if they bring a SuperComputer, they can't possibly crack it in several 100 years. And even if they do it let's say in 50 years , they will get 50 btc , 1 btc a year ? . They can mine better with that suer computer of there's

Not in 50 years. Not in 100 years. Not before our star expires. Not before the entropic end of the Universe.  It's a no.

Hey, now let's not discourage these people. They will make a lot of money for energy companies and that is something to celebrate

[btcbobby]

A) it is far easier to mine a block of Bitcoin than it is to randomly generated a valid private key. Unless the Chinese team thinks they know something that could help them with a shortcut, thinking that the PRNG in sayishis computer was flawed somehow.

B) knowing that it's far easier to mine a block than it is to guess a key, and realizing that sayishis coins haven't been consolidated in anyway, why devote that much computer power for a 50Btc reward (the amount in any of satishis addresses), why waste the energy when that same compute power could be used to generate far more than 50Btc?

C) assuming the go ahead and mine one of satoshis addreses, then there goes Bitcoin. If one if his the private key for a random address can be recovered somehos, then that would mean that none of our coins are safe. Don't get me wrong, if it's possible to do Then absolutely they should do it, just so the fault they're working off of or discover becomes well known, giving everyone the chance to jump ship, rather than take such an invention and use it for nefarious purposes.

Overall, on a threat scale of 1-10, I'd rate this minus 10.

[dothebeats]

We all know that Chinese aren't that far behind in terms of technology. In fact, theirs are advancing at a fast rate. Even though they hold the sufficient technology to crack or generate the same private keys to Satoshi's addresses, it still is a resource-consuming and time-consuming effort to recover those coins. SHA-256 is secure enough to be cracked by our technology for the next couple of centuries, and I doubt that even with the world's most advanced computers today, the algorithm would be cracked within a short span of time.

[TheButterZone]

Yeah, I was going to say "do they think Satoshi's PRNG was shit?" btcbobby beat me to it though.

[vm_mpn]

Correct me if I'm wrong here but didn't Satoshi had around 1 Mil BTC on one of his single addresses?