bitaddress.org

No, your Bitcoin is not at risk from quantum computing. You got played.

The claim: Quantum computers can hack bitcoin and its right around the corner.
Reality:
There is no known way that quantum computers can break SHA256 (only the signing elliptic curve/ECDSA). So cold wallets will always be safe (this means you have not made an outgoing transaction in that wallet)
This also means you will always be safe in actively making transactions as long as wallet providers provide the functionality to constantly move your funds to a new address on each transaction (this already exists in several wallets).
There is a larger discussion on upgrading bitcoin, the fact that quantum computers are not even close to being able to crack ECDSA, etc. But I'm just going to leave it at what I said above. Your Bitcoin is not at risk from quantum computing.
 
The fud campaigns on quantum computing has been organized by traders half a dozen times over the past 5 years at the end of consolidation triangles, which is exactly what happened this time.
submitted by Trident1000 to CryptoCurrency [link] [comments]

Why quantum computers do not pose a risk to bitcoin. (The quantum fud campaign has worked in the past and it worked this time. People need to learn to rebuke this false narrative)

The claim: Quantum computers can hack bitcoin and its right around the corner.
Reality:
There is no known way that quantum computers can break SHA256 (only the signing elliptic curve/ECDSA). So cold wallets will always be safe (this means you have not made an outgoing transaction in that wallet)
This also means you will always be safe in actively making transactions as long as wallet providers upgrade the functionality to constantly move your funds to a new address on each transaction (this already exists in several wallets). Its a simple software update.
There is a larger discussion on upgrading bitcoin, the fact that quantum computers are not even close to being able to crack ECDSA, etc. But I'm just going to leave it at what I said above. Your Bitcoin is not at risk from quantum computing.
submitted by Trident1000 to Bitcoin [link] [comments]

The real reason Bitcoin is skyrocketing and why CME is launching Bitcoin futures on Dec 18, 2017. Someone is close to building a real quantum computer.

We will soon see someone become the fastest trillionaire in history. Why you ask? Because Quantum Computing can defeat Bitcoin's SHA256 blockchains. http://www.newsweek.com/quantum-computers-kill-bitcoin-cryptocurrency-509053
The reason we place so much trust in Bitcoins is because right now, it would take a typical PC 3.17*1064 years to brute force a wallet. This pretty much translates into never. But quantum computing changes the game. Soon, due to quantum computers, 256bit encryption schemes will become easily crackable.
Enter, the CME Bitcoin futures.
For those who don't know how futures work, it's just a contract to purchase something at an agreed price at an agreed date. Say you own 1 bitcoin. I go to you and say, I'll buy that bitcoin off of you in 1 month for $15K. If you think bitcoins will be priced less than $15k after a month, then you would agree to the contract with me, right? So we make the deal. If bitcoins are worth $10,000 next month, I'm out $5,000 because I still have to pay you $15,000 for the bitcoin. On the other hand, if bitcoins are worth $20,000, you lose $5,000. Because you still have to sell me that bitcoin for $15,000. Fair enough?
Okay, now here's the part that gets tricky. The thing is, YOU don't have to actually have a bitcoin to make this contract with me. So what would that look like? Say you agree to sell me 1 bitcoin in 1 month at $15,000. Let's say the price of bitcoins at that date is $10,000. You just made $5k in profit. Why? Because you just have to go on the web, buy a bitcoin at $10k and sell it to me for $15k. Bam. $5K profit. On the other hand, say the current market price of bitcoins are $20k. Well, now you are out $5,000. You have to go to the web and buy a bitcoin for $20k and sell it to me for $15k. Loss of $5,000. Congratulations. You now know what "shorting the futures market" means. It's simply selling something you don't own in the hopes that prices will be cheaper when you actually have to deliver.
Alright, now we know how futures work. So what's this got to do with the real bitcoin market?
We've all seen the dramatic rise in the value of bitcoin this year. It's astronomical. Why is this happening? There are literally 100 reasons people will give you for why this is happening. And the truth is, all of them are plausible. But here's what I think. I think someone, or some govt, is driving up prices for a specific reason. To short the bitcoin market using futures.
What makes bitcoins secure? What makes your wallet that you have on your harddrive or USB drive secure? SHA256 bit encryption. The specifics of this encryption is beyond the scope of this post but suffice to say that it would take a long ass time to try to bruteforce guess the password. What would happen if that password could be broken in a matter of week? Simple. Every blockchain currency, as well as all passwords you use, will become crackable. Now, most servers, such as your bank's or your business, have a safeguard against this. They only allow something like 5 attempts to be made before they let you try again. But what about bitcoins? Umm,.... nope. You can bruteforce attack bitcoin wallets as much as you'd like simply because bitcoin wallets don't exist on your computer. It exists in the ledger which everyone has access to. You only have the password that allows you access to that particular entry on the ledger that proves that you have such and such amount of bitcoins.
So, if you develop a computer that can crack SHA256 encryption in a matter of weeks, how would you use that to make money? Simple. Short the hell out of bitcoin futures. Then release the news that you have a computer that's able to crack SHA256. Bam. The value of bitcoin goes to ZERO. No, I'm not exaggerating. The value will literally go to zero. You just made more money than anyone in history in the shortest amount of time.
Now, this isn't all speculation. You can prove me wrong by observing the price of the CME futures over time once it starts trading. Selling large amounts of futures will drive the price of the futures down and they will trade below market price (current price). So, even tho 90% of the people think the price of Bitcoins will go up, it could trade at prices lower than the current market price. This will mean that there is a huge seller of this futures. It will prove my point.
However, this is not what's going to happen. The futures price will trade at a significant premium (meaning higher than current market prices). Why? Because they're gonna drive this sucker to the max. They're gonna make it go all the way up to $100k while the Quantum Computer is finalized. Then, they will unleash the greatest trade ever known to man. A trade that makes Soros' shorting of the GBP look like child play.
submitted by psy_raven to conspiracy [link] [comments]

Is Crypto Currency truly at risk due to Quantum Computers, and what can you do about it?

Is Crypto Currency truly at risk due to Quantum Computers, and what can you do about it?

There is no denying that the Quantum revolution is coming. Security protocols for the internet, banking, telecommunications, etc... are all at risk, and your Bitcoins (and alt-cryptos) are next!
This article is not really about quantum computers[i], but, rather, how they will affect the future of cryptocurrency, and what steps a smart investor will take. Since this is a complicated subject, my intention is to provide just enough relevant information without being too “techy.”

The Quantum Evolution

In 1982, Nobel winning physicist, Richard Feynman, hypothesized how quantum computers[ii] would be used in modern life.
Just one year later, Apple released the “Apple Lisa”[iii] – a home computer with a 7.89MHz processor and a whopping 5MB hard drive, and, if you enjoy nostalgia, it used 5.25in floppy disks.
Today, we walk around with portable devices that are thousands of times more powerful, and, yet, our modern day computers still work in a simple manner, with simple math, and simple operators[iv]. They now just do it so fast and efficient that we forget what’s happening behind the scenes.
No doubt, the human race is accelerating at a remarkable speed, and we’ve become obsessed with quantifying everything - from the everyday details of life to the entire universe[v]. Not only do we know how to precisely measure elementary particles, we also know how to control their actions!
Yet, even with all this advancement, modern computers cannot “crack” cryptocurrencies without the use of a great deal more computing power, and since it’s more than the planet can currently supply, it could take millions, if not billions, of years.
However, what current computers can’t do, quantum computers can!
So, how can something that was conceptualized in the 1980’s, and, as of yet, has no practical application, compromise cryptocurrencies and take over Bitcoin?
To best answer this question, let’s begin by looking at a bitcoin address.

What exactly is a Bitcoin address?

Well, in layman terms, a Bitcoin address is used to send and receive Bitcoins, and looking a bit closer (excuse the pun), it has two parts:[vi]
A public key that is openly shared with the world to accept payments. A public key that is derived from the private key. The private key is made up of 256 bits of information in a (hopefully) random order. This 256 bit code is 64 characters long (in the range of 0-9/a-f) and further compressed into a 52 character code (using RIPEMD-160).
NOTE: Although many people talk about Bitcoin encryption, Bitcoin does not use Encryption. Instead, Bitcoin uses a hashing algorithm (for more info, please see endnote below[vii]).
Now, back to understanding the private key:
The Bitcoin address “1EHNa6Q4Jz2uvNExL497mE43ikXhwF6kZm” translates to a private key of “5HpHagT65TZzG1PH3CSu63k8DbpvD8s5ip4nEB3kEsreAnchuDf” which further translates to a 256 bit private key of “0000000000000000000000000000000000000000000000000000000000000001” (this should go without saying, but do not use this address/private key because it was compromised long ago.) Although there are a few more calculations that go behind the scenes, these are the most relevant details.
Now, to access a Bitcoin address, you first need the private key, and from this private key, the public key is derived. With current computers, it’s classically impractical to attempt to find a private key based on a public key. Simply put, you need the private key to know the public key.
However, it has already been theorized (and technically proven) that due to private key compression, multiple private keys can be used to access the same public key (aka address). This means that your Bitcoin address has multiple private keys associated with it, and, if someone accidentally discovers or “cracks” any one of those private keys, they have access to all the funds in that specific address.
There is even a pool of a few dedicated people hunting for these potential overlaps[viii], and they are, in fact, getting very efficient at it. The creator of the pool also has a website listing every possible Bitcoin private key/address in existence[ix], and, as of this writing, the pool averages 204 trillion keys per day!
But wait! Before you get scared and start panic selling, the probability of finding a Bitcoin address containing funds (or even being used) is highly unlikely – nevertheless, still possible!
However, the more Bitcoin users, the more likely a “collision” (finding overlapping private/public key pairs)! You see, the security of a Bitcoin address is simply based on large numbers! How large? Well, according to my math, 1.157920892373x1077 potential private keys exist (that number represents over 9,500 digits in length! For some perspective, this entire article contains just over 14,000 characters. Therefore, the total number of Bitcoin addresses is so great that the probability of finding an active address with funds is infinitesimal.

So, how do Quantum Computers present a threat?

At this point, you might be thinking, “How can a quantum computer defeat this overwhelming number of possibilities?” Well, to put it simple; Superposition and Entanglement[x].
Superposition allows a quantum bit (qbit) to be in multiple states at the same time. Entanglement allows an observer to know the measurement of a particle in any location in the universe. If you have ever heard Einstein’s quote, “Spooky Action at a Distance,” he was talking about Entanglement!
To give you an idea of how this works, imagine how efficient you would be if you could make your coffee, drive your car, and walk your dog all at the same time, while also knowing the temperature of your coffee before drinking, the current maintenance requirements for your car, and even what your dog is thinking! In a nutshell, quantum computers have the ability to process and analyze countless bits of information simultaneously – and so fast, and in such a different way, that no human mind can comprehend!
At this stage, it is estimated that the Bitcoin address hash algorithm will be defeated by quantum computers before 2028 (and quite possibly much sooner)! The NSA has even stated that the SHA256 hash algorithm (the same hash algorithm that Bitcoin uses) is no longer considered secure, and, as a result, the NSA has now moved to new hashing techniques, and that was in 2016! Prior to that, in 2014, the NSA also invested a large amount of money in a research program called “Penetrating Hard Targets project”[xi] which was used for further Quantum Computer study and how to break “strong encryption and hashing algorithms.” Does NSA know something they’re not saying or are they just preemptively preparing?
Nonetheless, before long, we will be in a post-quantum cryptography world where quantum computers can crack crypto addresses and take all the funds in any wallet.

What are Bitcoin core developers doing about this threat?

Well, as of now, absolutely nothing. Quantum computers are not considered a threat by Bitcoin developers nor by most of the crypto-community. I’m sure when the time comes, Bitcoin core developers will implement a new cryptographic algorithm that all future addresses/transactions will utilize. However, will this happen before post-quantum cryptography[xii]?
Moreover, even after new cryptographic implementation, what about all the old addresses? Well, if your address has been actively used on the network (sending funds), it will be in imminent danger of a quantum attack. Therefore, everyone who is holding funds in an old address will need to send their funds to a new address (using a quantum safe crypto-format). If you think network congestion is a problem now, just wait…
Additionally, there is the potential that the transition to a new hashing algorithm will require a hard fork (a soft fork may also suffice), and this could result in a serious problem because there should not be multiple copies of the same blockchain/ledger. If one fork gets attacked, the address on the other fork is also compromised. As a side-note, the blockchain Nebulas[xiii] will have the ability to modify the base blockchain software without any forks. This includes adding new and more secure hashing algorithms over time! Nebulas is due to be released in 2018.

Who would want to attack Bitcoin?

Bitcoin and cryptocurrency represent a threat to the controlling financial system of our modern economy. Entire countries have outright banned cryptocurrency[xiv] and even arrested people[xv], and while discrediting it, some countries are copying cryptocurrency to use (and control) in their economy[xvi]!
Furthermore, Visa[xvii], Mastercard[xviii], Discover[xix], and most banks act like they want nothing to do with cryptocurrency, all the while seeing the potential of blockchain technology and developing their own[xx]. Just like any disruptive technology, Bitcoin and cryptocurrencies have their fair share of enemies!
As of now, quantum computers are being developed by some of the largest companies in the world, as well as private government agencies.
No doubt, we will see a post-quantum cryptography world sooner than most realize. By that point, who knows how long “3 letter agencies” will have been using quantum technology - and what they’ll be capable of!

What can we do to protect ourselves today?

Of course, the best option is to start looking at how Bitcoin can implement new cryptographic features immediately, but it will take time, and we have seen how slow the process can be just for scaling[xxi].
The other thing we can do is use a Bitcoin address only once for outgoing transactions. When quantum computers attack Bitcoin (and other crypto currencies), their first target will be addresses that have outgoing transactions on the blockchain that contain funds.
This is due to the fact that when computers first attempt to crack a Bitcoin address, the starting point is when a transaction becomes public. In other words, when the transaction is first signed – a signed transaction is a digital signature derived from the private key, and it validates the transaction on the network. Compared to classical computers, quantum computers can exponentially extrapolate this information.
Initially, Bitcoin Core Software might provide some level of protection because it only uses an address once, and then sends the remaining balance (if any) to another address in your keypool. However, third party Bitcoin wallets can and do use an address multiple times for outgoing transactions. For instance, this could be a big problem for users that accept donations (if they don’t update their donation address every time they remove funds). The biggest downside to Bitcoin Core Software is the amount of hard-drive space required, as well as diligently retaining an up-to-date copy of the entire blockchain ledger.
Nonetheless, as quantum computers evolve, they will inevitably render SHA256 vulnerable, and although this will be one of the first hash algorithms cracked by quantum computers, it won’t be the last!

Are any cryptocurrencies planning for the post-quantum cryptography world?

Yes, indeed, there are! Here is a short list of ones you may want to know more about:

Full disclosure:

Although I am in no way associated with any project listed above, I do hold coins in all as well as Bitcoin, Litecoin and many others.
The thoughts above are based on my personal research, but I make no claims to being a quantum scientist or cryptographer. So, don’t take my word for anything. Instead, do your own research and draw your own conclusions. I’ve included many references below, but there are many more to explore.
In conclusion, the intention of this article is not to create fear or panic, nor any other negative effects. It is simply to educate. If you see an error in any of my statements, please, politely, let me know, and I will do my best to update the error.
Thanks for reading!

References

[i] https://www.youtube.com/watch?v=JhHMJCUmq28 – A great video explaining quantum computers.
[ii] https://www.doc.ic.ac.uk/~nd/surprise_97/journal/vol4/spb3/ - A brief history of quantum computing.
[iii] https://en.wikipedia.org/wiki/Apple_Lisa - More than you would ever want to know about the Apple Lisa.
[iv] https://www.youtube.com/watch?v=tpIctyqH29Q&list=PL8dPuuaLjXtNlUrzyH5r6jN9ulIgZBpdo - Want to learn more about computer science? Here is a great crash course for it!
[v] https://www.collinsdictionary.com/dictionary/english/quantify - What does quantify mean?
[vi] https://en.bitcoin.it/wiki/Private_key - More info about Bitcoin private keys.
[vii] https://www.securityinnovationeurope.com/blog/page/whats-the-difference-between-hashing-and-encrypting - A good example of the deference between Hash and Encryption
[viii] https://lbc.cryptoguru.org/stats - The Large Bitcoin Collider.
[ix] http://directory.io/ - A list of every possible Bitcoin private key. This website is a clever way of converting the 64 character uncompressed key to the private key 128 at a time. Since it is impossible to save all this data in a database and search, it is not considered a threat! It’s equated with looking for a single needle on the entire planet.
[x] https://uwaterloo.ca/institute-for-quantum-computing/quantum-computing-101#Superposition-and-entanglement – Brief overview of Superposition and Entanglement.
[xi] https://www.washingtonpost.com/world/national-security/nsa-seeks-to-build-quantum-computer-that-could-crack-most-types-of-encryption/2014/01/02/8fff297e-7195-11e3-8def-a33011492df2_story.html?utm_term=.e05a9dfb6333 – A review of the Penetrating Hard Targets project.
[xii] https://en.wikipedia.org/wiki/Post-quantum_cryptography - Explains post-quantum cryptography.
[xiii] https://www.nebulas.io/ - The nebulas project has some amazing technology planned in their roadmap. They are currently in testnet stage with initial launch expected taking place in a few weeks. If you don’t know about Nebulas, you should check them out. [xiv] https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory - Country’s stance on crypto currencies.
[xv] https://www.cnbc.com/2017/08/30/venezuela-is-one-of-the-worlds-most-dangerous-places-to-mine-bitcoin.html - Don’t be a miner in Venezuela!
[xvi] http://www.newsweek.com/russia-bitcoin-avoid-us-sanctions-cryptocurrency-768742 - Russia’s plan for their own crypto currency.
[xvii] http://www.telegraph.co.uk/technology/2018/01/05/visa-locks-bitcoin-payment-cards-crackdown-card-issue - Recent attack from visa against crypto currency.
[xviii] https://www.ccn.com/non-government-digital-currency-junk-says-mastercard-ceo-rejecting-bitcoin/ - Mastercards position about Bitcoin.
[xix] http://www.livebitcoinnews.com/discover-joins-visa-mastercard-barring-bitcoin-support/ - Discovers position about Bitcoin.
[xx] http://fortune.com/2017/10/20/mastercard-blockchain-bitcoin/ - Mastercard is making their own blockchain.
[xxi] https://bitcoincore.org/en/2015/12/21/capacity-increase/ - News about Bitcoin capacity. Not a lot of news…
[xxii] https://learn.iota.org/faq/what-makes-iota-quantum-secure - IOTA and quantum encryption.
[xxiii] https://eprint.iacr.org/2011/191.pdf - The whitepaper of Winternitz One-Time Signature Scheme
[xxiv] https://cardanoroadmap.com/ - The Cardano project roadmap.
[xxv] https://eprint.iacr.org/2017/490 - More about the BLISS hash system.
[xxvi] https://www.ethereum.org/ - Home of the Ethereum project.
[xxvii] https://en.wikipedia.org/wiki/SHA-3#Security_against_quantum_attacks – SHA3 hash algorithm vs quantum computers.
[xxviii] https://en.wikipedia.org/wiki/Lamport_signature - Lamport signature information.
[xxix] https://theqrl.org/ - Home of the Quantum Resistant Ledger project.
submitted by satoshibytes to CryptoCurrency [link] [comments]

Evidence Points to Bitcoin being an NSA-engineered Psyop to roll out One-World Digital Currency

Eye
I'm going to assume the readers who make it to this article are well informed enough that I don't have to go into the history of the global money changers and their desire for a one world currency.
(If you don't yet understand the goal of the globalist banking empire and the coming engineered collapse of the fiat currency system, you're already about 5,000 posts behind the curve.)
With that as a starting point, it's now becoming increasingly evident that Bitcoin may be a creation of the NSA and was rolled out as a "normalization" experiment to get the public familiar with digital currency.
Once this is established, the world's fiat currencies will be obliterated in an engineered debt collapse (see below for the sequence of events), then replaced with a government approved cryptocurrency with tracking of all transactions and digital wallets by the world's western governments.
NSA mathematicians detailed "digital cash" two decades ago
What evidence supports this notion?
First, take a look at this document entitled, "How to Make a Mint - The Cryptography of Anonymous Electronic Cash." This document, released in 1997 - yes, twenty years ago - detailed the overall structure and function of Bitcoin cryptocurrency.
Who authored the document?
Try not to be shocked when you learn it was authored by,
"mathematical cryptographers at the National Security Agency's Office of Information Security Research and Technology." 
The NSA, in other words, detailed key elements of Bitcoin long before Bitcoin ever came into existence.
Much of the Bitcoin protocol is detailed in this document, including signature authentication techniques, eliminating cryptocoin counterfeits through transaction authentication and several features that support anonymity and untraceability of transactions.
The document even outlines the heightened risk of money laundering that's easily accomplished with cryptocurrencies. It also describes "secure hashing" to be "both one-way and collision-free."
Although Bitcoin adds mining and a shared, peer-to-peer blockchain transaction authentication system to this structure, it's clear that the NSA was researching cryptocurrencies long before everyday users had ever heard of the term.
Note, too, that the name of the person credited with founding Bitcoin is Satoshi Nakamoto, who is reputed to have reserved one million Bitcoins for himself.
Millions of posts and online threads discuss the possible identity of Satishi Nakamoto, and some posts even claim the NSA has identified Satoshi.
However, another likely explanation is that Satoshi Nakamoto is the NSA, which means he is either working for the NSA or is a sock puppet character created by the NSA for the purpose of this whole grand experiment.
The NSA also wrote the crypto hash used by Bitcoin to secure all transactions
On top of the fact that the NSA authored a technical paper on cryptocurrency long before the arrival of Bitcoin, the agency is also the creator of the SHA-256 hash upon which every Bitcoin transaction in the world depends.
As The Hacker News (THN) explains.
"The integrity of Bitcoin depends on a hash function called **SHA-256**, which was designed by the NSA and published by the *National Institute for Standards and Technology* ([NIST](https://en.wikipedia.org/wiki/National_Institute_of_Standards_and_Technology))." 
THN also adds:
"If you assume that the NSA did something to SHA-256, which no outside researcher has detected, what you get is the ability, with credible and detectable action, they would be able to forge transactions. The really scary thing is somebody finds a way to find collisions in SHA-256 really fast without brute-forcing it or using lots of hardware and then they take control of the network." 
Cryptography researcher Matthew D. Green of Johns Hopkins University said.
In other words, if the SHA-256 hash, which was created by the NSA, actually has a backdoor method for cracking the encryption, it would mean the NSA could steal everybody's Bitcoins whenever it wants (call it "Zero Day.")
That same article, written by Mohit Kumar, mysteriously concludes,
"Even today it's too early to come to conclusions about Bitcoin. Possibly it was designed from day one as a tool to help maintain control of the money supplies of the world." 
And with that statement, Kumar has indeed stumbled upon the bigger goal in all this:
To seize control over the world money supply as the fiat currency system crumbles and is replaced with a one-world *digital currency controlled by globalists*. 
Think cryptography is bulletproof? Think again…
Lest you think that the cryptography of cryptocurrency is secure and bulletproof, consider this article from The Hacker News, 'Researchers Crack 1024-bit RSA Encryption in GnuPG Crypto Library,' which states,
"The attack allows an attacker to extract the secret crypto key from a system by analyzing the pattern of memory utilization or the electromagnetic outputs of the device that are emitted during the decryption process." 
Note, importantly, that this is a 1024-bit encryption system.
The same technique is also said to be able to crack 2048-bit encryption. In fact, encryption layers are cracked on a daily basis by clever hackers.
Some of those encryption layers are powering various cryptocurrencies right now. Unless you are an extremely high-level mathematician, there's no way you can know for sure whether any crypto currency is truly non-hackable.
In fact, every cryptocurrency becomes obsolete with the invention of large-scale quantum computing.
Once China manages to build a working 256-bit quantum computer, it can effectively steal all the Bitcoins in the world (plus steal most national secrets and commit other global mayhem at will).
(Video)
Ten steps to crypto-tyranny - The "big plan" by the globalists (and how it involves Bitcoin)
In summary, here's one possible plan by the globalists to seize total control over the world's money supply, savings, taxation and financial transactions while enslaving humanity.
And it all starts with Bitcoin...
  1.  Roll out the NSA-created Bitcoin to get the public excited about a digital currency. 
  2.  Quietly prepare a globalist-controlled cryptocurrency to take its place. (JP Morgan, anyone...?) 
  3.  Initiate a massive, global-scale [false flag operation](http://www.bibliotecapleyades.net/sociopolitica/sociopol_falseflag.htm) that crashes the global debt markets and sends fiat currencies down in flames (hoax alien invasion, hoax North Korean EMP attack, mass distributed power grid terrorism network, etc.) 
  4.  Blame whatever convenient enemy is politically acceptable (North Korea, "the Russians," Little Green Men or whatever it takes…) 
  5.  Allow the fiat currency debt pyramid to collapse and smolder until the sheeple get desperate. 
  6.  With great fanfare, announce a government-backed cryptocurrency replacement for all fiat currencies, and position world governments as the SAVIOR of humanity. Allow the desperate public to trade in their fiat currencies for official crypto currencies. 
  7.  [Outlaw cash](http://www.bibliotecapleyades.net/sociopolitica/sociopol_globalbanking.htm#Cashless_Society) and *criminalize gold and silver ownership by private citizens*. All in the name of "security," of course. 
  8.  Criminalize all non-official cryptocurrencies such as Bitcoin, crashing their value virtually overnight and funneling everyone into the one world government crypto, where the NSA controls the blockchain. This can easily be achieved by blaming the false flag event (see above) on some nation or group that is said to have been "funded by Bitcoin, the cryptocurrency used by terrorists." 
  9.  Require [embedded RFID](http://www.bibliotecapleyades.net/ciencia/secret_projects/implants.htm#RFID) or biometric identifiers for all transactions in order to "authenticate" the one-world digital crypto currency activities. *Mark of the Beast* becomes reality. No one is allowed to eat, travel or earn a wage without being marked. 
  10.  Once absolute control over the new one-world digital currency is achieved, weaponize the government-tracked blockchain to track all transactions, investments and commercial activities. Confiscate a portion of all crypto under the guise of "automated taxation." In an emergency, the government can even announce *negative interest rates* where your holdings automatically decrease each day. 
With all this accomplished, globalists can now roll out absolute totalitarian control over every aspect of private lives by enforcing financial "blackouts" for those individuals who criticize the government.
They can put in place automatic deductions for traffic violations, vehicle license plate taxes, internet taxes and a thousand other oppressive taxes invented by the bureaucracy.
With automatic deductions run by the government, citizens have no means to halt the endless confiscation of their "money" by totalitarian bureaucrats and their deep state lackeys.
How do you feel about your Bitcoin now...?
Video
by Mike Adams December 10, 2017 from NaturalNews Website
Source
submitted by Metaliano to conspiracy [link] [comments]

Math question: what password strength could be bruteforced if all miners would try to hack one password?

If all those gigahashes were used for 24 hours to hack a specific password. How many bits of a password could they hack? Could they hack a 40 bit password, maybe a 60 or even an 80bit password. Without further ado I give over to the math nerds
submitted by bitking74 to Bitcoin [link] [comments]

How Governments will Destroy Cryptocurrencies [Theory]

I have a few theories how the Governments around the world will eventually crackdown on cryptocurrencies, especially Bitcoin. It will either be a coordinated effort amongst G20 or just independently creating more and more regulations until crypto will die off. I may be wrong, there is a chance that we can win, but it's still good to consider the follow scenarios so that people can prepare themselves against them.
   

1) Mass Quantum Hack [Unlikely]

Allegedly govts may have at disposal secret quantum computers. There is already commercially available QC, but it's less powerful, and we can, from observation suspect that military technology is about 30 years ahead of commercially available ones, so there is a likelyhood of this. Quantum technology is not "magic", it doesn't solve issues instantaneously like it's portrayed in the media, but to our misfortune it can specifically crack wide open SHA256, RIPEMD-128 and AES256 cyphers which Bitcoin and other cryptos use.
Now the likelyhood of this is small, not because they can't do it, but because even if they can, if they would do this, the cat would be out of the box and then other governments would start hacking banks, which also using these algorithms, so it could collapse the entire global economy creating global hyperinflation and mass chaos.
So they would by all means avoid this, no matter how annoying Bitcoin will become for them they would not use this option, unless Bitcoin would really take over the planet, but they probably have other measures against that. And they probably have agreements with other governments too, to avoid this option, not even North Korea would do this in my opinion because the Chinese would put pressure on them.
   

2) Demonize and ridicule Bitcoin users in the Media [Likely, Inefficient]

This is likely and they are already doing this, but it's not effective. People don't care about chit-chat, they care about results. So if a starving African family can feed their kids from the remittances that their family members sent them back with Bitcoin, they would totally dismiss whatever the media would tell them.
Bitcoin has practical results, it doesn't need propaganda to spread, and propaganda against it is ineffective, because the results speak for themselves.
So while they might scare a few mainstream sheeps, it won't work forever and eventually the media would either have to get behind Bitcoin or become obsolete.
   

3) Criminalize Bitcoin and prosecute everyone [Unlikely]

They could have easily done this back in 2009-2010, and for some reason they didn't. They could have just easily labeled any Bitcoin user a hacker and cybercriminal when there were only a few thousand of them and jail them like with any other cybercrime. But they have missed this opportunity for some reason, either they thought Bitcoin would not be as big as it is now, or they had other plans for it. Some theories say that governments created Bitcoin, we don't know.
The point is that the genie is out of the bottle, now it's not going back. There are tens of millions of crypto users worldwide and as time goes on it would be harder and harder to ban Bitcoin completely. In fact now many politicians and elites are getting behind it so the political capital this would require would be near absolute totalitarianism, at which point we'd have bigger problems.
They could still crack down on many aspects of it, and criminalize certain bitcoin transactions, but it would then be as inefficient as the war on drugs and such.
   

4) Hijack developers to sabotage Bitcoin [Likely]

They could hijack or bribe some of the developers in order to destroy Bitcoin from within. First they would place their minions inside the community and make them celebrities, then they would be given positions of authority. And then use them to slow down Bitcoin and create as much chaos within as possible. For example like not increasing the block size so that average fees become close to 100$. Now African families can't feed their kids anymore and the entire 2nd and 3rd world would be cut off, so only a few rich first worlder would be able to use it, at which point it would be no different than a stock in a stock market, it would lose it's global revolutionary aspect. They could also use their minion developers to introduce intentional bugs and patches that would give them more control. Creating centralized payment processors, and removing people's abilities to store their own coins without a custodian. Then they would have control over everone's money and could forfeit it at will.
So a combination of slowing down Bitcoin's growth, like with massive censorship and character assasinating dissenters, while also introducing evil software patches to give them control over it. At this point the developers would be worshipped and would have a cult of personality with many useful idiot fanboys supporting them, not realizing that they are getting screwed.
After they have the influence over the community they could use this to justify any further crazy upgrades: like implementing "tax patch" where every transaction would automatically be taxed at 50% and sent to a govt controlled address.
   

5) Regulate developers, exchanges and miners [Likely, Inefficient]

They could just regulate and implement laws to coerce all developers and miner to implement policies the governments want. Given that all developers are public they are easy to reach and most miners are either LLC's or Corporations, they are directly controllable. They will comply.
The issue is that this is not very covert and people would start speaking up against this. Of course they would immediately implement KYC/AML policies for all transactions, and it would be pretty hard to argue against that as they would just use arguments like "for the children" , "evil drug users" and so forth, which have became curse phrases lately.
It is likely that they would be done as the banking system is fully regulated and you don't control your money and can be forfeited, they could just make people have to use a "Bitcoin Bank", maybe even legalize Banks to open BTC accounts, so most people would just go back into the government controlled world.
However the decentralization momentum lives on, so there will be solutions to decentralize everything. If they regulate exchanges, people would just move to decentralized ones. If they regulate miners, then people would invent more stealthy mining algorithms, and so forth.
The enforcement of these draconian laws would be very hard, even harder than the war on drugs, so they could try but they would fail.
   

6) Tax and Regulate Cryptocurrency use out of Existence to save Humanity [THIS]

If the government would really want to destroy crypto, they would definitely choose this path as it's the most easily enforceable and they have the most propaganda justification for this.
The way this would work is the following:
“Scientists have solid experimental and theoretical evidence to support …the following predictions: In a decade, urban dwellers will have to wear gas masks to survive air pollution…by 1985 air pollution will have reduced the amount of sunlight reaching earth by one half…”
-- 1970 Life Magazine
"If the climate change is as profound as some of the pessimists fear, the resulting famines could be catastrophic."
-- 1975 Newsweek
"By 1995, the greenhouse effect would be desolating the heartlands of North America and Eurasia with horrific drought, causing crop failures and food riots…(By 1996) The Platte River of Nebraska would be dry, while a continent-wide black blizzard of prairie topsoil will stop traffic on interstates, strip paint from houses and shut down computers…The Mexican police will round up illegal American migrants surging into Mexico seeking work as field hands.”
-- Michael Oppenheimer, 1990, The Environmental Defense Fund
 
So the GLOBAL WARMING HOAX is really extremely catastrophic therefore you must ban Bitcoin immediately to save human civilization. Mark my words, they will definitely choose this option.
submitted by alexander7k to Anarcho_Capitalism [link] [comments]

Mining for Private Keys

Those who actually know the "under the hood" of bitcoin and cryptology. Tell me how feasible it would be to set up a bunch of "Private Key Miners" and look for private keys with BTC inside. I hear of a huge BTC mining plant over in China actually mining for coin, what if he turned it into a private key wallet checker. Couldn't be hard to do with some coding and hook it up to blockchain.info or something. All the computers would have to do is create a private key, check it, create a private key, check it, and so on. They could do a lot in a short amout of time. Yes there are a "lot" of private keys, but for Christ sake are we putting our money in wallets and leaving them on a park bench for anyone to find. Final thought: Are we underestimating the power of computer automation
submitted by Bitcoin_Thief to Bitcoin [link] [comments]

12-30 21:33 - 'That's not true. The core has more features than electrum- it just requires use of the CLI. Honestly, you shouldn't be using multi-sig in the first place if you can't figure out how to generate an address using the CLI...' by /u/Nycmdthroaway removed from /r/Bitcoin within 43-53min

'''
That's not true. The core has more features than electrum- it just requires use of the CLI. Honestly, you shouldn't be using multi-sig in the first place if you can't figure out how to generate an address using the CLI.
Open up the debug window CLI tab, type `help' and you'll see how much you can do and the information you can ascertain with the core node that you can't with electrum.
Electrum relies on the core node for all of its functionality, save their proprietary mnemonic seed backup algorithm, which is much less secure than BIP33 (which can be generated with the core; electrum literally provides you with the dictionary to carry out an attack on its addresses, and it doesn't use an EC in its cryptographic process, meaning the encryption entropy is low and the nonces are predictable).
I could order some RIPEMD-160 ASIC chips for $2/piece and have a Chinese fabricator design a PCB using some cheap 22nm SHA-256 chips and the RIPEMD chips, replace cgminer or bfgminer's computational sections with the ultra optimized vanitygen algos for brute forcing priv keys, switch out stratum for JTR-style threaded rainbow tables based on a few hundred thousand rounds of mnemonic generation using electrum's suite- along with some open source code analysis, and in a month I could create a machine that could generate and test hundreds of thousands to millions of mnemonics per second.
The only reason this hasn't been an active practice is because destroying bitcoins keypair-cryptography (or at least appearing to have done so) would send the price under a dollar in 24hours. An update would be patched within a few days and it should be a lot of hard work for nothing. But I wouldn't be surprised if this is occurring actively on a small scale, with old addresses presumed to be "lost." Even if an active address was hit, as long as it wasn't overdone, people would shrug it off as a physical compromise of their own network/machine/software, not an epidemic- but considering the frequency of exchanges getting "hacked" and the actual ease by which the attack could be carried out, I think there's an equal possibility that the security is already completely compromised.
Theoretically all mnemonic backups are inherently insecure (as is any password using dictionary words, no matter how long) but at least using ECDHE and a deterministic seed, you're actually getting a password with a strength equal to that of the sum of its characters as ASCI to BASE/56 encoded bits. Without that, you may as well have a 12 character passphrase (with the possible characters equal to the number of words in the abridged electrum dictionary.) So it's {POSSIBLE WORDS}12 for electrum vs. something closer to {(POSSIBLE WORDS60)(POSSIBLE HD-SEEDS)}256 for a BIP33 mnemonic using SecP256k ECDHE algo (assuming average number of letters in a word are 5 and HD seeds are pseudo-random.) But mnemonic seeds are still insecure even with BIP33. Use the core wallet and you get a key with true randomness using entropy from blockchain derived sources, 2 rounds of SHA-256 and a final RIPEMD-160 round with a 256-Bit secret generated in conjunction with with an extremely secure ECDHE curve=trillions upon trillions of possibilities. That not only makes a single key harder to break, it means there is a much less likely chance of someone randomly guessing secrets and testing them to see if they come out to a funded address in the whole scheme of things.
It's like if I tried to break into every Dell server. If many people were using weak passwords, and I could try a password on all of them at the same time- I'd surely crack a bunch, and make Dell look bad as a company, even though the servers were inherently fine. Keeping the network strong means making sure you do your part to save face, after all bitcoin is owned and CONTROLLED by the userbase.
As a side note, RIPEMD was only used in the public scheme along with SHA256 (despite being significantly weaker) because at the time SHA256 was the only widely implemented and highly secure algorithm- meaning it could be as widely adopted and widely mined as possible. So SHA-256 was the logical choice for the main block algorithm. There wasn't another option for the wallet address' scheme that would be secure tunneling enough and still computationally feasible and easy to integrate. So SHA-256 was most secure, but without the round of RIPEMD-160 as the deterministic round, wallets could be brute forced at the same time as mining, with the same hardware.
For the most secure, fool-proof, uncrackable wallet, here's what I do/used to do: Use the Core node to bake Segwit P2SH addresses. I don't use HD wallets period, but HD is secure enough as long as you're using a truly random secret. Remember that the secret in a BIP33 HD wallet is the master privkey, additionally, each address has it's own xpriv, which, considering the combinations possible, saving the individual xprivs makes the most sense anyway. If you plan on spending the coins soon, just secure the wallet .dat file with a strong 16+ character (A-Z,a-z,()$&@#$/?¿%÷,0-9) passphrase (this is just the wallet file pw it has nothing to do with your addresses) then just throw the wallet on a flash drive or better yet an SD card or 2 and call it a day.
For addresses you plan to put on ice for a while, concat your coins into a handful of accounts, don't store more than $1,000/address. Then using the `dumpprivkey' Core CLI command (I think that's the command, it's something like that, type help and you'll see it if I'm wrong), a text encrypting program (for good measure) and a barcode/QR code generator (all offline!), get the private keys for each address, encrypt the text with an easy to remember password (you'll be taking the keys offline, and storing physically, so no need to worry too much about that pass, it's better to just keep them physically safe), and then generate QR codes for each. Paste them all into a word doc with the corresponding (lightly) encrypted numbers you generated the QRs with. Print out a couple copies and then delete the addresses from the wallet.
Put those paper wallets somewhere safe. You could also split the key down the middle and store the 2 parts of the paper wallets in different places instead of encrypting the plaintext xprivs. So you'd need to scan both paper keys and paste the solutions together to access the coins.
That's all a bit extreme... in reality, unless you're super paranoid and storing millions, you'll be fine by keeping your coins in the core node with decent firewall and a good .dat passphrase.
BUT ELECTRUM IS NO GOOD!
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: Nycmdthroaway
submitted by removalbot to removalbot [link] [comments]

The 20 BTC Warpwallet challenge ended today, no one was able to brute force the 8 character alphanumeric passphrase in two separate one year long contests.

Twitter announcement
Warpwallet uses two separate iterative hashing algorithms to generate a bitcoin key pair from a passphrase and salt (your email). It is designed to be highly resource intensive and to make it very difficult to brute force your passphrase.
To demonstrate the strength of the algorithm, the designers put their money where their mouth was. 20BTC in a public wallet, even giving hints that the passphrase was only 8 characters, alphanumeric, and giving the exact salt. After one year, the coins were moved to a new wallet, the old passphrase was revealed, and the challenge began again. Today, after two long years, the challenge is over.
Many "hackers" tried their best, some even purchasing considerable amounts of hashing power through AWS, but none were able to crack the 8 character passphrase.
All in all, it looks like Warpwallet is a good candidate for creating an offline wallet!
Details of the 20 BTC challenge and their easier challenges can be found at the bottom of the Warpwallet website.
submitted by Ketherah to Bitcoin [link] [comments]

Fragmented hardware wallet seed backups

I've been thinking about the best way to safely store the seed phrase of a hardware wallet - the piece of paper (or steel) has always seemed like a bit of a weak point to me. So I'd love a convenient way to be able to split my seed phrase into fragments using a 2-of-3 scheme.
So I came up with a quick-and-dirty approach. Here are the sheets I prepared for this approach:
LibreOffice: https://www.dropbox.com/s/307cqbpgubsz4sb/fragmented-wallets.ods?dl=0
PDF: https://www.dropbox.com/s/bi5geew2i99e7bp/fragmented-wallets.pdf?dl=0
(The LibreOffice version is better because you can edit the wallet name on the sheet)
The idea is to split a 24-word seed phrase into three groups of 8 words - and write down a different pair of two of the groups on each backup fragment. Now, it's certainly not Shamir Secret Sharing, but it's easy to carry out with little risk of error and requires no software or offline computer to carry it out.
By my calculations, the effort required to crack the wallet using a single backup fragment is roughly equivalent (approximately one order of magnitude harder) than cracking the traditional Trezor recovery method: that is, even making some very generous assumptions, it would require an adversory with the resources to design and fabricate HMAC-SHA512 hashing chips of comparable speed to existing bitcoin double-SHA256 chips, and build a cluster the size of the entire bitcoin network, and it would still take years, unless the arracker is very, very lucky.
So although it's not ideal, and not going to remain safe for ever.... Unless you have a lot of coins and some very powerful adversories, it's probably good enough for a good few years :-)
I'd be very interested in thoughts on this - particularly on whether I've correctly calculated the security of this approach. Note, this scheme is only plausibly safe for 24-word seeds. You should not attempt something similar for shorter seeds
Analysis:
The best fragment to steel is the one that contains the first two portions of ENT (which is fragment #2 using my sheets). This gives you 2x88 bits of ENT and leaves 80 bits unknown - so you need to test 280 ENT values.
(One of the other two fragments will give you 88+80 bits of ENT plus the 8-bit checksum. This leaves you with 288 values to test, but one in 256 will fail the checksum, so it's still 280 values to feed to PBKDF2, but with slightly more work to get there.)
Now, creating a seed from the phrase requires 2048=211 rounds of HMAC-SHA512 - so completely ignoring the cost of testing the resulting seeds, we have to do 291 rounds of HMAC-SHA512 to test every value, or 290 on average.
Assuming a cracking cluster that can solve HMAC-SHA512 at the same rate that the entire Bitcoin network solves double-SHA256, it would take an average of 2^90/(6600*10^15)/(31*10^6) = 6 years to crack the seed from a single fragment.
Thoughts?
submitted by roybadami to btc [link] [comments]

[uncensored-r/CryptoCurrency] Is Crypto Currency truly at risk due to Quantum Computers, and what can you do about it?

The following post by satoshibytes is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7uvomu
The original post's content was as follows:

Is Crypto Currency truly at risk due to Quantum Computers, and what can you do about it?

There is no denying that the Quantum revolution is coming. Security protocols for the internet, banking, telecommunications, etc... are all at risk, and your Bitcoins (and alt-cryptos) are next!
This article is not really about quantum computers[i], but, rather, how they will affect the future of cryptocurrency, and what steps a smart investor will take. Since this is a complicated subject, my intention is to provide just enough relevant information without being too “techy.”

The Quantum Evolution

In 1982, Nobel winning physicist, Richard Feynman, hypothesized how quantum computers[ii] would be used in modern life.
Just one year later, Apple released the “Apple Lisa”[iii] – a home computer with a 7.89MHz processor and a whopping 5MB hard drive, and, if you enjoy nostalgia, it used 5.25in floppy disks.
Today, we walk around with portable devices that are thousands of times more powerful, and, yet, our modern day computers still work in a simple manner, with simple math, and simple operators[iv]. They now just do it so fast and efficient that we forget what’s happening behind the scenes.
No doubt, the human race is accelerating at a remarkable speed, and we’ve become obsessed with quantifying everything - from the everyday details of life to the entire universe[v]. Not only do we know how to precisely measure elementary particles, we also know how to control their actions!
Yet, even with all this advancement, modern computers cannot “crack” cryptocurrencies without the use of a great deal more computing power, and since it’s more than the planet can currently supply, it could take millions, if not billions, of years.
However, what current computers can’t do, quantum computers can!
So, how can something that was conceptualized in the 1980’s, and, as of yet, has no practical application, compromise cryptocurrencies and take over Bitcoin?
To best answer this question, let’s begin by looking at a bitcoin address.

What exactly is a Bitcoin address?

Well, in layman terms, a Bitcoin address is used to send and receive Bitcoins, and looking a bit closer (excuse the pun), it has two parts:[vi]
A public key that is openly shared with the world to accept payments. A private key that is derived from the public key. The private key is made up of 256 bits of information in a (hopefully) random order. This 256 bit code is 64 characters long (in the range of 0-9/a-f) and further compressed into a 52 character code (using RIPEMD-160).
NOTE: Although many people talk about Bitcoin encryption, Bitcoin does not use Encryption. Instead, Bitcoin uses a hashing algorithm (for more info, please see endnote below[vii]).
Now, back to understanding the private key:
The Bitcoin address “1EHNa6Q4Jz2uvNExL497mE43ikXhwF6kZm” translates to a private key of “5HpHagT65TZzG1PH3CSu63k8DbpvD8s5ip4nEB3kEsreAnchuDf” which further translates to a 256 bit private key of “0000000000000000000000000000000000000000000000000000000000000001” (this should go without saying, but do not use this address/private key because it was compromised long ago.) Although there are a few more calculations that go behind the scenes, these are the most relevant details.
Now, to access a Bitcoin address, you first need the private key, and from this private key, the public key is derived. With current computers, it’s classically impractical to attempt to find a private key based on a public key. Simply put, you need the private key to know the public key.
However, it has already been theorized (and technically proven) that due to private key compression, multiple private keys can be used to access the same public key (aka address). This means that your Bitcoin address has multiple private keys associated with it, and, if someone accidentally discovers or “cracks” any one of those private keys, they have access to all the funds in that specific address.
There is even a pool of a few dedicated people hunting for these potential overlaps[viii], and they are, in fact, getting very efficient at it. The creator of the pool also has a website listing every possible Bitcoin private key/address in existence[ix], and, as of this writing, the pool averages 204 trillion keys per day!
But wait! Before you get scared and start panic selling, the probability of finding a Bitcoin address containing funds (or even being used) is highly unlikely – nevertheless, still possible!
However, the more Bitcoin users, the more likely a “collision” (finding overlapping private/public key pairs)! You see, the security of a Bitcoin address is simply based on large numbers! How large? Well, according to my math, 1.157920892373x1077 potential private keys exist (that number represents over 9,500 digits in length! For some perspective, this entire article contains just over 14,000 characters. Therefore, the total number of Bitcoin addresses is so great that the probability of finding an active address with funds is infinitesimal.

So, how do Quantum Computers present a threat?

At this point, you might be thinking, “How can a quantum computer defeat this overwhelming number of possibilities?” Well, to put it simple; Superposition and Entanglement[x].
Superposition allows a quantum bit (qbit) to be in multiple states at the same time. Entanglement allows an observer to know the measurement of a particle in any location in the universe. If you have ever heard Einstein’s quote, “Spooky Action at a Distance,” he was talking about Entanglement!
To give you an idea of how this works, imagine how efficient you would be if you could make your coffee, drive your car, and walk your dog all at the same time, while also knowing the temperature of your coffee before drinking, the current maintenance requirements for your car, and even what your dog is thinking! In a nutshell, quantum computers have the ability to process and analyze countless bits of information simultaneously – and so fast, and in such a different way, that no human mind can comprehend!
At this stage, it is estimated that the Bitcoin address hash algorithm will be defeated by quantum computers before 2028 (and quite possibly much sooner)! The NSA has even stated that the SHA256 hash algorithm (the same hash algorithm that Bitcoin uses) is no longer considered secure, and, as a result, the NSA has now moved to new hashing techniques, and that was in 2016! Prior to that, in 2014, the NSA also invested a large amount of money in a research program called “Penetrating Hard Targets project”[xi] which was used for further Quantum Computer study and how to break “strong encryption and hashing algorithms.” Does NSA know something they’re not saying or are they just preemptively preparing?
Nonetheless, before long, we will be in a post-quantum cryptography world where quantum computers can crack crypto addresses and take all the funds in any wallet.

What are Bitcoin core developers doing about this threat?

Well, as of now, absolutely nothing. Quantum computers are not considered a threat by Bitcoin developers nor by most of the crypto-community. I’m sure when the time comes, Bitcoin core developers will implement a new cryptographic algorithm that all future addresses/transactions will utilize. However, will this happen before post-quantum cryptography[xii]?
Moreover, even after new cryptographic implementation, what about all the old addresses? Well, if your address has been actively used on the network (sending funds), it will be in imminent danger of a quantum attack. Therefore, everyone who is holding funds in an old address will need to send their funds to a new address (using a quantum safe crypto-format). If you think network congestion is a problem now, just wait…
Additionally, there is the potential that the transition to a new hashing algorithm will require a hard fork (a soft fork may also suffice), and this could result in a serious problem because there should not be multiple copies of the same blockchain/ledger. If one fork gets attacked, the address on the other fork is also compromised. As a side-note, the blockchain Nebulas[xiii] will have the ability to modify the base blockchain software without any forks. This includes adding new and more secure hashing algorithms over time! Nebulas is due to be released in 2018.

Who would want to attack Bitcoin?

Bitcoin and cryptocurrency represent a threat to the controlling financial system of our modern economy. Entire countries have outright banned cryptocurrency[xiv] and even arrested people[xv], and while discrediting it, some countries are copying cryptocurrency to use (and control) in their economy[xvi]!
Furthermore, Visa[xvii], Mastercard[xviii], Discover[xix], and most banks act like they want nothing to do with cryptocurrency, all the while seeing the potential of blockchain technology and developing their own[xx]. Just like any disruptive technology, Bitcoin and cryptocurrencies have their fair share of enemies!
As of now, quantum computers are being developed by some of the largest companies in the world, as well as private government agencies.
No doubt, we will see a post-quantum cryptography world sooner than most realize. By that point, who knows how long “3 letter agencies” will have been using quantum technology - and what they’ll be capable of!

What can we do to protect ourselves today?

...
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

[uncensored-r/Bitcoin] The 20 BTC Warpwallet challenge ended today, no one was able to brute force the 8 character alpha...

The following post by Ketherah is being replicated because the post has been silently greylisted(for 1.7 hours).
(It was approved by the mods at: 2018-01-04T17:00:00.000Z)
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7nz4qw
The original post's content was as follows:
Twitter announcement
Warpwallet uses two separate iterative hashing algorithms to generate a bitcoin key pair from a passphrase and salt (your email). It is designed to be highly resource intensive and to make it very difficult to brute force your passphrase.
To demonstrate the strength of the algorithm, the designers put their money where their mouth was. 20BTC in a public wallet, even giving hints that the passphrase was only 8 characters, alphanumeric, and giving the exact salt. After one year, the coins were moved to a new wallet, the old passphrase was revealed, and the challenge began again. Today, after two long years, the challenge is over.
Many "hackers" tried their best, some even purchasing considerable amounts of hashing power through AWS, but none were able to crack the 8 character passphrase.
All in all, it looks like Warpwallet is a good candidate for creating an offline wallet!
Details of the 20 BTC challenge and their easier challenges can be found at the bottom of the Warpwallet website.
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

exercise - crack privatekey Wif with python

I should crack the privatekey WIF the following data:
***(uncompressed) Public Key 04 b187b254eed8d....
*** message hash and its signature h1: 9788fd... r1: efc4 s1: 618ce
***another message hash and its signature h2: 7adb9... r2: efc4f.... s2: d8e7c8....
The following is the python code:
 #! python2 """encode/decode base58 in the same way that Bitcoin does""" __b58chars = '123456789ABCDEFGHJKLMNPQRSTUVWXYZabcdefghijkmnopqrstuvwxyz' __ b58base = len(__b58chars) def b58encode(v): """ encode v, which is a string of bytes, to base58. """ long_value = 0L for (i, c) in enumerate(v[::-1]): long_value += ord(c) << (8*i) # 2x speedup vs. exponentiation result = '' while long_value >= __b58base: div, mod = divmod(long_value, __b58base) result = __b58chars[mod] + result long_value = div result = __b58chars[long_value] + result # Bitcoin does a little leading-zero-compression: # leading 0-bytes in the input become leading-1s nPad = 0 for c in v: if c == '\0': nPad += 1 else: break return (__b58chars[0]*nPad) + result def b58decode(v, length): """ decode v into a string of len bytes """ long_value = 0L for (i, c) in enumerate(v[::-1]): long_value += __b58chars.find(c) * (__b58base**i) result = '' while long_value >= 256: div, mod = divmod(long_value, 256) result = chr(mod) + result long_value = div result = chr(long_value) + result nPad = 0 for c in v: if c == __b58chars[0]: nPad += 1 else: break result = chr(0)*nPad + result if length is not None and len(result) != length: return None return result import hashlib # https://en.bitcoin.it/wiki/Wallet_import_format print; print "****** Private key to WIF ******" print; print "*** [1] Private Key:" PrivateKey = 0xC28FCA386C7A227600B2FE50B7CAE11EC86D3BF1FBE471BE89827E19D72AA1DL print hex(PrivateKey)[2:-1].zfill(64) print; print "*** [2] Extended Key:" extKey = ('80' + hex(PrivateKey)[2:-1].zfill(64)).decode('hex') print extKey.encode('hex') print; print "*** [3] SHA-256 hashing of the Extended Key:" h1 = hashlib.sha256(extKey).digest() print h1.encode('hex') print; print "*** [4] SHA-256 hashing of the SHA-256:" h2 = hashlib.sha256(h1).digest() print h2.encode('hex') print; print "*** [5] First 4 bytes of the second SHA-256 hash used as address checksum:" print h2[0:4].encode('hex') print; print "*** [6] checksum added at the end of extended key:" addr = extKey + h2[0:4] print addr.encode('hex') print; print "*** [7] Base58 encoding" wif = b58encode(addr) print wif print; print "****** WIF to private key ******" print; print "*** [1] Base58 WIF" print wif print; print "*** [2] Base58 decoding" addr = b58decode(wif, 37) print addr.encode('hex') print; print "*** [3] Extended key (checksum verified)" extKey = addr[0:-4] checksum = addr[-4:] verified = hashlib.sha256(hashlib.sha256(extKey).digest()).digest()[0:4]==checksum print extKey.encode('hex') + " (" + ("true" if verified else "false") + ")" print; print "*** [4] Private key" print extKey[1:].encode('hex') 
submitted by topo92 to Bitcoin [link] [comments]

08-20 06:01 - 'Claim of new technique for hacking (salted) brain wallets. Impossible?' (self.Bitcoin) by /u/aegaz5Fo removed from /r/Bitcoin within 656-661min

'''
I was pasting something to a colleague on pastebin, and I saw this in the sidebar: [link]1
I’m pretty new to bitcoin (and brand new to this forum, so apologies if this is off-topic). As far as I understand... what they claim should be impossible. No new technique (except an attack against SHA256 which I understand the brain wallets use) can overcome the fundamental difficulty of cracking a bitcoin private key, right?
(I have a moderate amount of bitcoin in a brain wallet created with salt on brainwallet.org, hence the interest.)
'''
Claim of new technique for hacking (salted) brain wallets. Impossible?
Go1dfish undelete link
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Author: aegaz5Fo
1: http://pastebin.com/M6h0KT0H
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You got some powerful CPUs; Why not mine some Primecoins?

Primecoin is secure online money similar to bitcoin, but can only be mined (generated) with CPUs as of now. Primecoin is generating long and longer prime chains as more computing power joins the network. Right now, 1 XPM is worth around $1.
Remember Bitcoin?
If not, look it up or get a super-short summary here:
Bitcoin is a decentralized encrypted currency with no bank in control. Think of it as a p2p network for money. Bitcoins are not given away for free, your PC has to solve complicated tasks to be rewarded with some BTC.
Calculation difficulty rises with more people calculating, so it gets harder when more people join in.
As people started using Graphic Cards and even so called ASIC devices for bitcoin mining, your chances of getting a block are very very very small.
Primecoin takes a different approach, it calculates prime chains (which are a lot more useful to science than cracking random hashes)
Primecoins can, as of now, only be mined with CPUs so you might want to chime in.
Primecoin High Performance Client can be aquired here (Bitcointalk.com)
You can mine Primecoin alone or in a mining pool (http://ypool.net/ - I haven't tested this pool myself)
FAQ
Primecoin is an interesting new concept similar to bitcoin, but instead of wasteing all this computing power on SHA256 hashing, Primecoin is generating long and longer prime chains as more computing power joins the network.
Read about it on /primecoin
Primecoins (XPM) are generated when you find a prime chain (Cunningham or bitwin chain) of given length. Right now, it has to be 9 primes long. The computer who found the chain gets primecoins credited into his wallet file. (Around 11 XPM)
Primecoins are similar to Bitcoin. For general information, check out Bitcoin. Primecoins are simply generated in a more meaningful way. (Generating prime chains instead of "bruteforcing" senseless SHA256 hashes)
There isn't, but as the difficulty of mining them increases, the payout of coins decreases. Right now, difficulty is at 9. That means chains of 9 primes have to be found. Soon 10 primes are needed.
The payout can be calculated with
999 / difficulty2 = payout
The more people join in on calculating, the higher the difficulty. It adjusts in such a way that every minute one chain is found.
I have some Primecoins to give away to interested folks and I am ready to answer questions!
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Bitcoin hack. Freebitcoin hack (cheat). Freebitco.in - YouTube

Learn how to Brute-Force your Bitcoin core wallet using Hashcat. Get the Bitcoin2John.py script here: https://github.com/magnumripper/JohnTheRipper/blob/blee... https://www.dropbox.com/s/0vxh82cxrq77667/Cheat%20freebitco.rar?dl=0 -----... talking about making your own crypto paper wallet. Sign up with coinbase. buy or sell 100 dollars in crypto currency and get 10 dollars of bitcoin for free with this link to coinbase. https://www ... How to hack bitcoin address! The program for the selection of private keys bitcoin! You don't need to know the code, our elves will do all the work for you. Bitcoin Wallet Hack! A program that ... How to store Bitcoin in your head using a Brain Wallet? The private key for Bitcoin addresses can be created using the SHA256 hash function. Previously, this...

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