Bitcoin Forum
November 23, 2017, 10:20:51 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Are there some problems in bitcoin system (?)  (Read 610 times)
top10merchant
Newbie
*
Offline Offline

Activity: 28


View Profile
March 27, 2014, 09:39:55 AM
 #1

I have some questions:

1- Is it possible one bitcoin address has 2 or more private key case of pigeonhole principle? if yes, we have to worry?

2- Bitcoin has been based on sha_2 (?), so break is possible theoretically http://eprint.iacr.org/2008/270.pdf

3- This money based on technology and new technologies are on the way, is it possible to have a hacked system in future?


 Huh Huh Huh
Join ICO Now Coinlancer is Disrupting the Freelance marketplace!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511475651
Hero Member
*
Offline Offline

Posts: 1511475651

View Profile Personal Message (Offline)

Ignore
1511475651
Reply with quote  #2

1511475651
Report to moderator
cbeast
Donator
Legendary
*
Offline Offline

Activity: 1736

Let's talk governance, lipstick, and pigs.


View Profile
March 27, 2014, 11:02:28 AM
 #2

1. Not with Eliptic Curve function.
2. Theoretically if the problem of controlling space/time is solved.
3. Use the best security methods available and don't take shortcuts to save pennies.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
top10merchant
Newbie
*
Offline Offline

Activity: 28


View Profile
March 27, 2014, 11:35:32 AM
 #3

1. Not with Eliptic Curve function.
2. Theoretically if the problem of controlling space/time is solved.
3. Use the best security methods available and don't take shortcuts to save pennies.

Thanks  Smiley
Foxpup
Legendary
*
Offline Offline

Activity: 2016



View Profile
March 27, 2014, 12:34:45 PM
 #4

1. Not with Eliptic Curve function.
2. Theoretically if the problem of controlling space/time is solved.
3. Use the best security methods available and don't take shortcuts to save pennies.
*facepaw*

1- Is it possible one bitcoin address has 2 or more private key case of pigeonhole principle? if yes, we have to worry?
Yes. Bitcoin addresses are RIPEMD160 hashes, so of course there are more possible private keys than addresses. But it is not a problem, because 2^160 is still an inconceivably large number.

2- Bitcoin has been based on sha_2 (?), so break is possible theoretically http://eprint.iacr.org/2008/270.pdf
Yes, a break is possible; but no, it will almost certainly not be a problem. MD5 for example is horribly broken, but not in any way that would make it unsuitable as a proof-of-work function.

3- This money based on technology and new technologies are on the way, is it possible to have a hacked system in future?
Well-designed cryptosystems are not broken overnight. Rather, weaknesses are gradually discovered over time. If any such weakness is discovered in Bitcoin, there will almost certainly be plenty of time to fix it or develop a new system.

Will pretend to do unverifiable things (while actually eating an enchilada-style burrito) for bitcoins: 1K6d1EviQKX3SVKjPYmJGyWBb1avbmCFM4
top10merchant
Newbie
*
Offline Offline

Activity: 28


View Profile
March 27, 2014, 01:14:16 PM
 #5

1. Not with Eliptic Curve function.
2. Theoretically if the problem of controlling space/time is solved.
3. Use the best security methods available and don't take shortcuts to save pennies.
*facepaw*

1- Is it possible one bitcoin address has 2 or more private key case of pigeonhole principle? if yes, we have to worry?
Yes. Bitcoin addresses are RIPEMD160 hashes, so of course there are more possible private keys than addresses. But it is not a problem, because 2^160 is still an inconceivably large number.

2- Bitcoin has been based on sha_2 (?), so break is possible theoretically http://eprint.iacr.org/2008/270.pdf
Yes, a break is possible; but no, it will almost certainly not be a problem. MD5 for example is horribly broken, but not in any way that would make it unsuitable as a proof-of-work function.

3- This money based on technology and new technologies are on the way, is it possible to have a hacked system in future?
Well-designed cryptosystems are not broken overnight. Rather, weaknesses are gradually discovered over time. If any such weakness is discovered in Bitcoin, there will almost certainly be plenty of time to fix it or develop a new system.

Clear and nice answer, thanks

there will almost certainly be plenty of time to fix it or develop a new system.

Bitcoin system is a developable system or the mean is develop another system with another name and clients?
I'm talking about technology in next hundred years, future technology and facilities. bitcoin is a useless payment in 2114?



DannyHamilton
Legendary
*
Offline Offline

Activity: 1988



View Profile
March 27, 2014, 01:55:36 PM
 #6

Bitcoin system is a developable system or the mean is develop another system with another name and clients?

Yes.

I'm talking about technology in next hundred years, future technology and facilities. bitcoin is a useless payment in 2114?

It is unlikely that technology in the next hundred years will surpass the ability of bitcoin to be modified to adapt to that technology, but without a time machine it is impossible to predict what will happen 100 years from now.  Since I'll be dead, and you probably will be too, why don't we let the people of the future decide how they want to use the technology that they discover and stop trying to make those decisions for them today?

top10merchant
Newbie
*
Offline Offline

Activity: 28


View Profile
March 27, 2014, 02:54:40 PM
 #7

Bitcoin system is a developable system or the mean is develop another system with another name and clients?

Yes.

I'm talking about technology in next hundred years, future technology and facilities. bitcoin is a useless payment in 2114?

It is unlikely that technology in the next hundred years will surpass the ability of bitcoin to be modified to adapt to that technology, but without a time machine it is impossible to predict what will happen 100 years from now.  Since I'll be dead, and you probably will be too, why don't we let the people of the future decide how they want to use the technology that they discover and stop trying to make those decisions for them today?

We are talking about property and money,
Did you hear about selling house in Dubai for 99 years (or some other places)? the price of these houses are 30% of original price, of course the owner will be dead after 99 years, but longtime investing in such things is not logic, Also BTC shows short term investing on bitcoin doesn't help, Am I right ?

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!