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Author Topic: How? Security of private keys  (Read 2160 times)
bitpop
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March 01, 2012, 09:54:28 AM
 #21

So the addresses will be get longer sometime in the future?

BUT then again, bitcoin was designed when mining was astonishingly slow on the cpu. Now we are already 10000X faster, can bitcoin be strengthened if in 5 years GPUs can crack a key in a month?

Yes, it can be strengthened.


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dooglus
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March 01, 2012, 10:39:15 AM
 #22

So the addresses will be get longer sometime in the future?

Or the hashing function that's used could get more computationally intensive.

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2. Can private keys somehow be different for the same address and the correct one can be checked against the blockchain?

There are lots of different private keys for each bitcoin address.  If you can find any one of them then you can spend the coins at that address.  The problem is that it's too hard to find any them.

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March 01, 2012, 11:24:27 AM
 #23

There are lots of different private keys for each bitcoin address. If you can find any one of them then you can spend the coins at that address.

Will it still be the case if the address has been spent before?
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March 01, 2012, 11:33:15 AM
 #24

(My math probably isn't right)

You can generate 1 address a second.

86,400 seconds in a day = 86,400 keys a day.

26 bits in a btc address, 403291461126605635584000000 permutations.

so 403291461126605635584000000/86400 = 4667725244520898560000 days.

So, you wanna wait

1.27882883411531467397260273972602739726027397260273972602739726027397260273972 6027397260273972602739726027397260273972602739726027397260273972602739726027397 260273972602739726027397260273972602739726027*(10**19) years?

I didn't think so.

there are 160 bits in a btc address. so its: 2**160 seconds you have to wait. so its about 10**93 years.

EDIT: my math failed to, i used ln instead of log. correct is ~10**40 years

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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March 01, 2012, 11:51:10 AM
 #25

(My math probably isn't right)

You can generate 1 address a second.

86,400 seconds in a day = 86,400 keys a day.

26 bits in a btc address, 403291461126605635584000000 permutations.

so 403291461126605635584000000/86400 = 4667725244520898560000 days.

So, you wanna wait

1.27882883411531467397260273972602739726027397260273972602739726027397260273972 6027397260273972602739726027397260273972602739726027397260273972602739726027397 260273972602739726027397260273972602739726027*(10**19) years?

I didn't think so.

there are 160 bits in a btc address. so its: 2**160 seconds you have to wait. so its about 10**93 years.

lol yeah, i thought it was wrong. meh
chiropteran
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March 01, 2012, 01:05:54 PM
 #26

there are 160 bits in a btc address. so its: 2**160 seconds you have to wait. so its about 10**93 years.

EDIT: my math failed to, i used ln instead of log. correct is ~10**40 years

Even that estimate is too low, because there is no big flashing sign that says HEY YOU GOT A USEFUL PRIVATE KEY!

You have to add time to test each and every key you generate if your goal is to find one with money in it, which increase the time by another order of magnitude...

bitpop
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March 02, 2012, 05:42:37 AM
 #27

Is using a vanity address ANY less secure than using a regular one since the scope decreases?

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March 02, 2012, 05:46:43 AM
 #28

Is using a vanity address ANY less secure than using a regular one since the scope decreases?
The only reduced security is if some noob looks at the beginning and doesn't compare the rest of the string to see whether the rest of the address is legit.

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