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Author Topic: How to steal BTC just with public key.  (Read 284 times)
pooya87
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April 26, 2018, 03:06:04 AM
 #21

i know it is hard to understand the technical part of it which is why i mentioned examples (bitfinex cold storage). here is the address https://blockchain.info/address/16rCmCmbuWDhPjWTrpQGaU3EPdZF7MTdUk and it contains 137,203 or $1.2 billion. and since it has made lots of transactions you can see its public key in all of those (outgoing) transactions. here is the public key:
02f0bb0774f61a63a610719f73c63f0019c0db62bdfc3682bc55f911538c766674
if it were possible, it would have been stolen already!

RawDog is just trolling here by saying "work a little bit"! it is impossible as of today and in the near future. maybe some day after 100 years with advancement we get enough computing power to find a reverse solution for it and break it but not any sooner. and if we get closer to something like that a simple fork can change bitcoin in a way to prevent it. you still have nothing to worry about, these things don't happen over night.

for example, years ago (2012) SHA1 was considered less secure and everyone slowly moved to other hashings to increase their security until it was no longer used for anything important (2013). finally after years that nobody used it anymore it was broken (last year - 2017) by putting a huge amount of computing power (roughly 110 years of computing from a single GPU for just one of the phases) in it by Google.

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Markyway88
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April 26, 2018, 03:17:06 AM
 #22

Can the BTCitcoins of a wallet be stolen just with the public key?
Yes.  Absolutely. 

The Public Key is mathematically related to the Private Key by an algorithm.  If you get the Private Key, you can steal the Bitcoin.  Just work a little bit to discover the algorithm which converts the Public Key to the Private Key and you are totally golden.  First one to discover it is a millionaire!!!  But don't be greedy.   If others find out you did it, the whole system will get less valuable fast.
The statement is irony. I slowly believe in your thought but I think if it is possible then bitcoin already gone right now. Public keys have similarity in private keys but you cannot unlock or encrypt easily the algorithm provided by just using a public key. Even a mathematician and hacker will combine their knowledges, they can't solve and cracked bitcoins algorithm unless you are Satoshi Nakamoto.
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