how improbable does something have to be before its deemed impossible? guessing the correct private key? 2 people creating the same private key in their wallets? 2 people having the same dna in a murder investigation? what are the chances a cat plays beethoven on piano or writes functioning computer code if it jumps on the keys? can the simplest known life form with 531000 dna building blocks containing 473 genes and each dna has 4 letters a c t and g come about by chance even though the possible combinations of dna exceed the number of atoms in the universe? if you see a house do you say it must exist by chance or that it was designed and built by intelligent design even though you never saw it built? did life and the universe come from nothing or from so called quantum fluctuations? "hebrews 3:4 Of course, every house is constructed by someone, but the one who constructed all things is God." is your god chance or intelligent design?
@@ben-ww7ks Things are only improbable when there are a lot of variants that are picked by one at random. As for the universe - it either was created by god or it wasn't. So from the point of probability it's 50\50. However, the probability that the universe was created by any god humans created in their stories is close to zero.
I can’t understand how this doesn’t have 21 Million views at least, btw loved the data about the Eddington number it adds to the to the etherial side of Bitcoin. Thanks for the work Andreas 👌
Andreas, you are amazing, always with the best explanations. Thanks for your massive effort to make Bitcoin, the tech behind and the principles, easy to understand. The crypto community owes you a lot.
Go to the equator and deal a trillion hands. Take a step, repeat. When you arrive at your starting point remove a drop from the Pacific ocean, repeat. When it's empty, refill it and put a card on the ground repeat all. When the cards reach the sun repeat 3000 times, your private key is in there somewhere.
My issue with this is no matter how slim the chance is, it’s still security through obscurity. A private key should be compared to generating a username, not the password. In that sense, a centralized entity will always have the upper hand due to simply being able to tell you “that username already exists”. Although there are a slew of other problems with central authorities, this is one that simply doesn’t exist for them (all things being equal). It really feels like a practical (hybrid) approach should be taken when considering how keys are generated for your blockchain even though this is looked down upon as not being fully decentralized. That sounds all fine and well until someone happens to get the same seed/private key as you without being nefarious, and there are no protections against it.
It was a very similar video many years ago that first attracted me to Bitcoin. Hope this one attracts lots of new Bitcoiners. Very well described as usual Andreas. Would love a follow up with quantum computing. I know you've done some in the past but perhaps one at this basic level of guessing numbers.
Amazing video! Ever since learning about the wonders of Bitcoin I had this itching question, hearing the answer every time just blows my mind again and again.
Great way to explain that. Throw in Ledgers and Trezors Passphrase feature and the number becomes more than all the atoms in every possible parallel universe and dimension. Cheers.
I heard the sand perspective before (on all of earth) and I thought that was a lot, but didn't realize that was FARRRRR from the real "visual" of the question. Thank you!
I've got a good one. I did the math on this and this is what I found; Trying to guess a private key, say you could try a key every second and everyone on the planet is too. It would take 75% longer than the universe has existed for someone to guess it. This is assuming of course the are no duplicate guesses.
Amazing. I didn’t realize the enormity of the possible numbers. Thanks to you my friend. I understood BTC when I 1st started researching years ago. I’m now jobless, but I don’t care. BTC has been taking good care of my family.
@@txtpeer5179 I meant Tatooine. However I am happy to concede if you have numbers to back up that Arrakis has orders of magnitude more sand than Tatooine
One thing is there is almost infinite number of keys available but another thing is the possibility of the algorithm in charge of generating a key generates twice the same key. i’m not saying it’s very possible but i think the algorithm in charge is very important, must not be poorly designed. In tekken 7 (a fighting video game) when you select a random stage most of the time the same stage appears lol
School teaches you math and other subjects just enough so you can do the jobs they need, never to empower you with real inspirational knowledge and skills.
@@tradersendeavors School is one body of information, but not the only one can become educated. Who knows if he learnt the math he used to create Bitcoin from school or from other means like books. I’m not against school because it has many positives, being a medium from which you can learn and form an education, but there is a also a negative side to school just like everything in life has. You can’t forget that school is ultimately a business, a business with interests that might not align with yours. For instance it may be more profitable for school to produce students who will become workers rather then inventors, thinkers, creatives, thus they are disincentivised to develop that entrepreneurial side is student who align more to that. This is one example. It doesn’t apply to everyone, but I certainly felt school didn’t develop me in the ways I wanted and the ways I was most strongest at, I always saw it as meaningless and surface-level means to get a degree, to then work for a company. I dropped out of high-school and became a successful entrepreneur. I remember in business studies we learnt nothing whereas now me running my own business, actually learning practically, not just sitting in a classroom, it’s a whole new world.
2^256 = around 10^77. I followed until 10^52 and I shouted "come on, I don't believe you!".... but I just realized we just do the math here, nothing to believe or not. It just is.
You're doing a fantastic job! Could you help me with something unrelated: My OKX wallet holds some USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). How should I go about transferring them to Binance?
This is an amazing video, I've been thinking about the chances of it and now I know it's very very tiny chance but still there is a chance of getting someone private key especially the whole thing is a random process, maybe not now , not in a ten years but there is a mistake gonna happen
By time: If you consider the age of the universe: 13,8 B years ~ 10^17 seconds. Someone (maybe all computers on earth) brute forcing 1 sextillion (10^21) times per second. They would still need some 10^39 (a billion quadrillion quadrillions) times the age of the universe to guess a seed.
It can be done, but should take some time. Not only more than a human life, but also more than the Earth and Sun lifetime. Most probably more than the lifetime of all present and future stars.
Ok - convincing. But what if the random generator in a ledger hardware wallet, which creates seeds tends to generate certain seeds, because it is not able to generate each numbers with the same probability. Is this completely studied?
Most people use addresses which are 160 bit hashes of public keys. To spend those coins I don't need to know their private key. Any private key whose public key hashes to the same address will do. So I "only" have to search 2^160 = 10^48 = less than one galaxy's worth of silica atoms to steal their money, not the whole universe.
This is to get your family/friends off the lottery. Tell them about Satoshi's wallet and that there is a 1 in 2**256 chance they will gain access when they create a new seed.
Possible positions in the Game of Go - 10 ^ 180. So all the atoms in the Universe, with each atom having a Universe of atoms inside it (10 ^ 154) plus change ;)
Interesting. So would I be correct to say that, if you had an industrial size super computer in Nigeria that was crunching out hundreds of trillions of random private keys every nanosecond, this machine would ultimately steal someone's bitcoin at some point. It would be like mining for diamonds, where you crash hundreds of tons of rock for that tiny precious diamond?
I get that 10 to the 77 is an unimaginably impressive number, but we do have super computers. What would happen if the most powerful supercomputer in the world were to identify all private keys, and then just cross-reference those that have a balance over 100,000$.. How long would that take, and is it even feasible?
If you had access to a super computer capable of checking 1 Trillion ( 10^9 ) per second, it would do 10^10 in 10 seconds, 10^11 in 100 seconds, 10^12 in 1000 (10^3) seconds, 10^13 in 10^4 seconds, 10^14 in 10^5 seconds .... that's 100,000 seconds or 1.15 days... let's just round that to one day ... 10^15 would take 10 days, 10^16 = 100 days, 10^17 = 1000 days, lets call that 3 years... 10^18 = 30 years, 10^19 = 300 years.... after this the numbers really start to get quite silly, and you have still checked way way less than 0.01% of the total available.
A question from my side about numbers...how big of a chance is it, to find a Hash mining Bitcoin with a Raspberry Pi or the old USB Miner? You could be lucky to guess the right Hash, because It's like a lottery, correct?
The problem with this example is that it ignores how fast "guesses" can be made. If every inch of Earth were covered in clones of the Google HQ, all using their entire computing capacity to check private keys for UTXO, would one be found before Earth is engulfed by the sun in 7.5 billion years?
The problem with upgrading to 512 is then you're adding double the amount of data to the blockchain everywhere we currently use hashes - transaction ID's, addresses (which are hashes of public keys), block hashes, etc. You'd have to update every single miner on the network to use new specialized hardware for SHA-512 instead of SHA-256. Private keys -> Public keys use ECDSA (Elliptic Curve Digital Signature Algorithm) rather than hashes - so if we went to some 512 bit ECDSA algorithm you'd also be introducing additional data for users to deal with (they'd have to update their seeds potentially, etc.) Not that this couldn't be done for an actual necessary reason (such as the current ECDSA or SHA being broken by cryptographers) - but the benefits of moving to 512 bits just aren't necessary. SHA-256 and secp256k1 are both considered to be very secure standards as far as we know.
Oh my. That was mind blowing! How many grains of sand was that again😳 Yeah I guess that drives home the message don't lose possession your private keys.🙂
I appreciate your efforts! 🙏 I have a quick question: 🤷♂️ I have a set of words 🤷♂️. (behave today finger ski upon boy assault summer exhaust beauty stereo over). What is this? 🤔
But is the probability that a generated key takes on a specific value PERFECTLY randomly distributed across all those 2^256 possibilities? The answer is dependent upon the perfection of the random number generator used in the key generator. No random number generation algorithm is perfect. But it’s perfect enough to avoid private key collisions for practical purposes. If there is one private key per satoshi, there would be 21,000,000 x 100,000,000 = 2.1x10^15 private keys. So the number of used private keys divided by the total possible number of private keys is: 2.1x10^15 / 1x10^77, or one used private key in this example for every 0.5x10^62 unused addresses. A super-simplified example to bring the point home is this: If a brute force search across a stretch of possible private keys is begun such that one key test per second is conducted, then the average time required to find a matched private key is 1/2 x 0.5x10^62 seconds = 2.5x10^61 seconds, or 1.1x10^15 years, or 11,000,000,000,000 years = 11 billion years. Thats pretty sparse! It also gives a general idea about how impractical it is to break open an address and ‘steal’ somebodies BTC. Wanna steal someone’s sats, then a brute force attack, knowing the address requires on average 0.5x10^77 cycles. It’ll take an S19 a several hundred centuries to do that. Also, BTC address creation (effectively the public key) carries the same logic with some tweaks to generate public addresses in a range much less than [0..2^256-1]. But the range is broad enough to, for all practical purposes, avoid address collisions. All this said, Taleb would argue that nature isn’t random. Contingencies dominate. Contingencies defy probabilistic pseudo-determinism. Black swans happen unpredictably.
What about the checksum that is used in the key, Andreas as surely this would reduce the amount wouldn't it. Actually i'd like to know how the checksum works. No doubt you have a video on that somewhere.
Its so unlikely that someone guesses your private key, that even thinking about that is a waste of energy. As long as your private key was derived from a seed phrase wich was at least 12 words long or better 24. Andreas give us an update on quantum cryptography, memorizing ever longer getting seed phrases annoys your fan base.
Is that the same analogy to ronin wallet? Coz when I created my first ronin wallet, the system gave me 1 with lots of asset on it. I'll be honest I try to steal it but I think he is using a trezor.
Fascinating. What about the ratio between the amount of private keys that can be generated in a given unit of time compared to the total amount of possible private keys. Can that be realistically estimated?
Andreas love your work. I think the problem is how much computer computing we have so several amount of people or computers try different keys to check their balance and the possibility to find one
Think this' only applicable for a specific phrase, considering how the number of people who gets wallets are increasing. Well, unless they started to use other pool of vocabularies other than BIP 39.
The problem is that Andreas is assuming that you have a really good RNG, i don't think many people will use casino dices to generate a seed for example.
How early are we in bitcoin adoption? The greatest bitcoin channel on TH-cam (aantonop) doesn't have an animator illustrating its videos yet. That's how early we are in bitcoin fame.
![Cheaters Can't Cheat: Fairness Protocol Explained [The value in bitcoin, ethereum, open blockchains]](http://i.ytimg.com/vi/JtyRN4YFRFI/mqdefault.jpg)
![Cheaters Can't Cheat: Fairness Protocol Explained [The value in bitcoin, ethereum, open blockchains]](/img/tr.png)
"So you're telling me there's a chance." - Llyod Christmas, Dumb and Dumber
He had a better chance guessing your private key than hooking up with that girl
how improbable does something have to be before its deemed impossible? guessing the correct private key? 2 people creating the same private key in their wallets? 2 people having the same dna in a murder investigation? what are the chances a cat plays beethoven on piano or writes functioning computer code if it jumps on the keys? can the simplest known life form with 531000 dna building blocks containing 473 genes and each dna has 4 letters a c t and g come about by chance even though the possible combinations of dna exceed the number of atoms in the universe? if you see a house do you say it must exist by chance or that it was designed and built by intelligent design even though you never saw it built? did life and the universe come from nothing or from so called quantum fluctuations?
"hebrews 3:4 Of course, every house is constructed by someone, but the one who constructed all things is God."
is your god chance or intelligent design?
@@ben-ww7ks Things are only improbable when there are a lot of variants that are picked by one at random. As for the universe - it either was created by god or it wasn't. So from the point of probability it's 50\50. However, the probability that the universe was created by any god humans created in their stories is close to zero.
So you're telling me you came up with the same thought at the same time and we both post it here? How probable is that? 😀
lol
In case someone's wondering, 2^256 = 115,792,089,237,316,195,423,570,985,008,687,907,853,269,984,665,640,564,039,457,584,007,913,129,639,936
Omg that video just blew my mind. I was laughing most of the time. I have heard you talk about this using the sand analogy, but never to this extent 😅
So you're telling me there's a chance... Lloyd Christmas
Lol is this an inside joke?
I can’t understand how this doesn’t have 21 Million views at least, btw loved the data about the Eddington number it adds to the to the etherial side of Bitcoin.
Thanks for the work Andreas 👌
Awesome! Thank you, Andreas for this fascinating content. 👍👍
Andreas, you are amazing, always with the best explanations. Thanks for your massive effort to make Bitcoin, the tech behind and the principles, easy to understand. The crypto community owes you a lot.
The risk is not the number of available private keys, it is the random algorithm that the wallet uses to pick one of those keys.
That's exactly the issue and many people got screwed by this already
Yes, it would be nice to see a follow up video on the best and worst ways to generate and safely store private keys.
And how big is this risk would you say? Sounds it needs to be explained in the video more.
Name one.
I guess we'll have to play the waiting game of the entire timeline of the life of the universe to see if it ever fails
Go to the equator and deal a trillion hands. Take a step, repeat. When you arrive at your starting point remove a drop from the Pacific ocean, repeat. When it's empty, refill it and put a card on the ground repeat all. When the cards reach the sun repeat 3000 times, your private key is in there somewhere.
My favorite video of yours so far, thank you!
My issue with this is no matter how slim the chance is, it’s still security through obscurity. A private key should be compared to generating a username, not the password. In that sense, a centralized entity will always have the upper hand due to simply being able to tell you “that username already exists”. Although there are a slew of other problems with central authorities, this is one that simply doesn’t exist for them (all things being equal).
It really feels like a practical (hybrid) approach should be taken when considering how keys are generated for your blockchain even though this is looked down upon as not being fully decentralized. That sounds all fine and well until someone happens to get the same seed/private key as you without being nefarious, and there are no protections against it.
Your post proves once more that humans can't comprehend these numbers. Rather worry about being struck by lightning.
It was a very similar video many years ago that first attracted me to Bitcoin. Hope this one attracts lots of new Bitcoiners. Very well described as usual Andreas.
Would love a follow up with quantum computing. I know you've done some in the past but perhaps one at this basic level of guessing numbers.
This is an amazing video that makes my head spin 10 to the 77. Thanks for the simple explanation! You rock, I mean you grain of sand!
This is magisterial, and way beyond funnier than expected! Thank you so much!
Shoulda went 2 to the 257 just make sure😝
Let’s round it to 260 to Be on the safe side...
Imma goin with 2 to the 3072 (RSA).
Amazing video! Ever since learning about the wonders of Bitcoin I had this itching question, hearing the answer every time just blows my mind again and again.
Wow! Mind-blowing! Thank you so much for the explanation!
Great way to explain that. Throw in Ledgers and Trezors Passphrase feature and the number becomes more than all the atoms in every possible parallel universe and dimension. Cheers.
I heard the sand perspective before (on all of earth) and I thought that was a lot, but didn't realize that was FARRRRR from the real "visual" of the question. Thank you!
Enjoyed this lighthearted program. Please do more! 🤣
I've got a good one. I did the math on this and this is what I found; Trying to guess a private key, say you could try a key every second and everyone on the planet is too. It would take 75% longer than the universe has existed for someone to guess it. This is assuming of course the are no duplicate guesses.
@@TheHorrorsPersistButSoDoI Yeah except it's a 1,000,000,000,000,00,000,000...198 more zeros to 1 chance.
Amazing. I didn’t realize the enormity of the possible numbers.
Thanks to you my friend. I understood BTC when I 1st started researching years ago. I’m now jobless, but I don’t care. BTC has been taking good care of my family.
....so you're telling me there's a chance
I think you underestimated the amount of sand on Tatooine
THIS!
Nicolas has spoken.
Nop
You mean Arrakis .
@@txtpeer5179 I meant Tatooine. However I am happy to concede if you have numbers to back up that Arrakis has orders of magnitude more sand than Tatooine
Thank you so much! I've been trying to work out how private keys can be unique forever (unique forever, not that I've been wondering forever).
This is why you should create a "passphrase" for your hardware wallet.
Thank you
One thing is there is almost infinite number of keys available but another thing is the possibility of the algorithm in charge of generating a key generates twice the same key. i’m not saying it’s very possible but i think the algorithm in charge is very important, must not be poorly designed. In tekken 7 (a fighting video game) when you select a random stage most of the time the same stage appears lol
This was the most helpful video in my understanding and appreciation of bitcoin
So brilliantly explained it had me grinning the whole time. Thank you Andreas for sharing your unequaled clarity of thinking and explaining!!
It's fascinating!
Why I haven't learned this in the school and instead have to look for such interesting things in my 40s 🤦🏻♂️
School teaches you math and other subjects just enough so you can do the jobs they need, never to empower you with real inspirational knowledge and skills.
@@zonnovate8809 Thanks to school, "Satoshi Nakamoto" knew the math to create Bitcoin
@@tradersendeavors School is one body of information, but not the only one can become educated. Who knows if he learnt the math he used to create Bitcoin from school or from other means like books.
I’m not against school because it has many positives, being a medium from which you can learn and form an education, but there is a also a negative side to school just like everything in life has.
You can’t forget that school is ultimately a business, a business with interests that might not align with yours. For instance it may be more profitable for school to produce students who will become workers rather then inventors, thinkers, creatives, thus they are disincentivised to develop that entrepreneurial side is student who align more to that.
This is one example. It doesn’t apply to everyone, but I certainly felt school didn’t develop me in the ways I wanted and the ways I was most strongest at, I always saw it as meaningless and surface-level means to get a degree, to then work for a company. I dropped out of high-school and became a successful entrepreneur. I remember in business studies we learnt nothing whereas now me running my own business, actually learning practically, not just sitting in a classroom, it’s a whole new world.
So... you are telling me that I have a chance to pick right? Yay ;-)
Thanks, GREAT video!
My favorite bitcoin Sheldon Cooper. But seriously, very educational as always.
2^256 = around 10^77.
I followed until 10^52 and I shouted "come on, I don't believe you!".... but I just realized we just do the math here, nothing to believe or not. It just is.
Out the blue this question came to my mind. Exclent explanation.
That was cool, Thanx. got a subscriber!
Love the complaint tool you built into your site!!! lol
Glad you like it - LOL. I'm always surprised at how many people complain about free content. Happy you share my sense of humour.
Crypto, physics and astronomy. Im all ears Mr antonopolous
Thanks Andreas, I enjoyed the mental ride through the Universe.
Little “X” symbol!!!! Love it
Carl Sagan would like this
Huge lesson. thanks for existing Andreas
“Alright, let’s take all of the galaxies,
*F U C K I T* ”
And Multisig multiplies all of that by 3. (or 5 or whatever your multisig is)
Brilliant....i dont feel so old now...its just numbers...😎
You're doing a fantastic job! Could you help me with something unrelated: My OKX wallet holds some USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). How should I go about transferring them to Binance?
truly nerdy yet very very cool thought experiment
Just to make sure I understood this correctly... 10 to the 77 is a pretty small number right?
This is an amazing video, I've been thinking about the chances of it and now I know it's very very tiny chance but still there is a chance of getting someone private key especially the whole thing is a random process, maybe not now , not in a ten years but there is a mistake gonna happen
Just gone to a trip. This sh-tss so alien. Beautiful
Lol.. special complaint mechanism 🤣😂
Complain by using the X in the top right corner. Brilliant!!
By time:
If you consider the age of the universe: 13,8 B years ~ 10^17 seconds.
Someone (maybe all computers on earth) brute forcing 1 sextillion (10^21) times per second.
They would still need some 10^39 (a billion quadrillion quadrillions) times the age of the universe to guess a seed.
So you're saying it can still be done, right?
It can be done, but should take some time. Not only more than a human life, but also more than the Earth and Sun lifetime. Most probably more than the lifetime of all present and future stars.
Ok - convincing. But what if the random generator in a ledger hardware wallet, which creates seeds tends to generate certain seeds, because it is not able to generate each numbers with the same probability. Is this completely studied?
Most people use addresses which are 160 bit hashes of public keys. To spend those coins I don't need to know their private key. Any private key whose public key hashes to the same address will do. So I "only" have to search 2^160 = 10^48 = less than one galaxy's worth of silica atoms to steal their money, not the whole universe.
Well ya
Good deal
Now it will take only 500 years to do it
So helpful! Thanks for your work and clear thinking!
This is to get your family/friends off the lottery. Tell them about Satoshi's wallet and that there is a 1 in 2**256 chance they will gain access when they create a new seed.
Possible positions in the Game of Go - 10 ^ 180. So all the atoms in the Universe, with each atom having a Universe of atoms inside it (10 ^ 154) plus change ;)
very cool explanation
absolutely amazing thank you so much for putting it into perspective
Interesting. So would I be correct to say that, if you had an industrial size super computer in Nigeria that was crunching out hundreds of trillions of random private keys every nanosecond, this machine would ultimately steal someone's bitcoin at some point. It would be like mining for diamonds, where you crash hundreds of tons of rock for that tiny precious diamond?
During my teaching. The world population has 2^33. 77 is just a number that we not able to visualize.
I get that 10 to the 77 is an unimaginably impressive number, but we do have super computers. What would happen if the most powerful supercomputer in the world were to identify all private keys, and then just cross-reference those that have a balance over 100,000$.. How long would that take, and is it even feasible?
If you had access to a super computer capable of checking 1 Trillion ( 10^9 ) per second, it would do 10^10 in 10 seconds, 10^11 in 100 seconds, 10^12 in 1000 (10^3) seconds, 10^13 in 10^4 seconds, 10^14 in 10^5 seconds .... that's 100,000 seconds or 1.15 days... let's just round that to one day ... 10^15 would take 10 days, 10^16 = 100 days, 10^17 = 1000 days, lets call that 3 years... 10^18 = 30 years, 10^19 = 300 years.... after this the numbers really start to get quite silly, and you have still checked way way less than 0.01% of the total available.
👁️👄👁️
Brilliant! And who created all this, I'm humbled.
Brilliantly explained, as always 👏🏻
That was a fascinating way of putting it!
A question from my side about numbers...how big of a chance is it, to find a Hash mining Bitcoin with a Raspberry Pi or the old USB Miner? You could be lucky to guess the right Hash, because It's like a lottery, correct?
The problem with this example is that it ignores how fast "guesses" can be made. If every inch of Earth were covered in clones of the Google HQ, all using their entire computing capacity to check private keys for UTXO, would one be found before Earth is engulfed by the sun in 7.5 billion years?
You are a gem thanks for teaching us what you know.
I think Andreas Antonopoulos' brain is a supercomputer if not quantum.
Can we update to sha 512 or more secure algorithm in future?
What are the merits and demerits of that
The problem with upgrading to 512 is then you're adding double the amount of data to the blockchain everywhere we currently use hashes - transaction ID's, addresses (which are hashes of public keys), block hashes, etc. You'd have to update every single miner on the network to use new specialized hardware for SHA-512 instead of SHA-256.
Private keys -> Public keys use ECDSA (Elliptic Curve Digital Signature Algorithm) rather than hashes - so if we went to some 512 bit ECDSA algorithm you'd also be introducing additional data for users to deal with (they'd have to update their seeds potentially, etc.)
Not that this couldn't be done for an actual necessary reason (such as the current ECDSA or SHA being broken by cryptographers) - but the benefits of moving to 512 bits just aren't necessary. SHA-256 and secp256k1 are both considered to be very secure standards as far as we know.
chaintuts thank you
Oh my. That was mind blowing!
How many grains of sand was that again😳 Yeah I guess that drives home the message don't lose possession your private keys.🙂
Dude!!! You make calculations so scary.
I GOT IT... & MY MIND IS BLOWN!!!🤯
If they guess your keys then get them to guess the winning lottery numbers. It's much easier to do.
You're having too much fun, Andreas.
A wonderful explanation. Thank you.
I appreciate your efforts! 🙏 I have a quick question: 🤷♂️ I have a set of words 🤷♂️. (behave today finger ski upon boy assault summer exhaust beauty stereo over). What is this? 🤔
My brain: Can we go back to bed now?
The crazy fact that I own one atom in the universe with some bitcoin stashed inside it. Try to find it guys !
it just keeps closing my browser? help? which browser are you using?
But is the probability that a generated key takes on a specific value PERFECTLY randomly distributed across all those 2^256 possibilities? The answer is dependent upon the perfection of the random number generator used in the key generator.
No random number generation algorithm is perfect. But it’s perfect enough to avoid private key collisions for practical purposes. If there is one private key per satoshi, there would be 21,000,000 x 100,000,000 = 2.1x10^15 private keys. So the number of used private keys divided by the total possible number of private keys is: 2.1x10^15 / 1x10^77, or one used private key in this example for every 0.5x10^62 unused addresses. A super-simplified example to bring the point home is this: If a brute force search across a stretch of possible private keys is begun such that one key test per second is conducted, then the average time required to find a matched private key is 1/2 x 0.5x10^62 seconds = 2.5x10^61 seconds, or 1.1x10^15 years, or 11,000,000,000,000 years = 11 billion years. Thats pretty sparse! It also gives a general idea about how impractical it is to break open an address and ‘steal’ somebodies BTC. Wanna steal someone’s sats, then a brute force attack, knowing the address requires on average 0.5x10^77 cycles. It’ll take an S19 a several hundred centuries to do that.
Also, BTC address creation (effectively the public key) carries the same logic with some tweaks to generate public addresses in a range much less than [0..2^256-1]. But the range is broad enough to, for all practical purposes, avoid address collisions.
All this said, Taleb would argue that nature isn’t random. Contingencies dominate. Contingencies defy probabilistic pseudo-determinism. Black swans happen unpredictably.
All of that math made me leave my body.
Saw this live, but seeing again because it is awesome
What about the checksum that is used in the key, Andreas as surely this would reduce the amount wouldn't it. Actually i'd like to know how the checksum works. No doubt you have a video on that somewhere.
Its so unlikely that someone guesses your private key, that even thinking about that is a waste of energy. As long as your private key was derived from a seed phrase wich was at least 12 words long or better 24. Andreas give us an update on quantum cryptography, memorizing ever longer getting seed phrases annoys your fan base.
WTF this TOTALLY must feeking blew my mind!!!!!!
Thanks Andreas.
Absolutely amazing
Is that the same analogy to ronin wallet? Coz when I created my first ronin wallet, the system gave me 1 with lots of asset on it. I'll be honest I try to steal it but I think he is using a trezor.
Fascinating. What about the ratio between the amount of private keys that can be generated in a given unit of time compared to the total amount of possible private keys. Can that be realistically estimated?
8:28 Zilliqa to the moon! 🚀
Andreas love your work. I think the problem is how much computer computing we have so several amount of people or computers try different keys to check their balance and the possibility to find one
Think this' only applicable for a specific phrase, considering how the number of people who gets wallets are increasing. Well, unless they started to use other pool of vocabularies other than BIP 39.
This was really cool
Lol. Love the complaint system
Loved that explanation!!
The problem is that Andreas is assuming that you have a really good RNG, i don't think many people will use casino dices to generate a seed for example.
Also certain 12 word phrases are easier to ‘guess’ than others - by orders of magnitude.
How early are we in bitcoin adoption? The greatest bitcoin channel on TH-cam (aantonop) doesn't have an animator illustrating its videos yet. That's how early we are in bitcoin fame.
Can you take a look at the danger of centralization in blockchain staking and compare it with the danger of centralization through bitcoin mining?
I have all of your books except mastering ethereum
So do I. 👍