Blockchain technology in the long term

I claim that blockchain technology has no future as long as it is possible to steal another person’s assets without ever having had contact with that person.
Simply using software to generate seed phrases and private keys.

Developer need to work on making this as difficult as possible using mathematical calculations. Just the possibility is enough to classify this technology as not future-proof. End of story.

Let’s be honest, on the one hand the double spend problem is solved but someone else can generate or copy the same key without ever having been in contact with you and steal your assets.

Sure if you gave them your private keys or seed phrase then they can get to your coins. That’s why personal security is so important.

But it’s not possible to brute force random seed phrases or public/private key pairs. The time to calculate every possible permutation is simply too long no matter how much processing power you have.

Hypothetically, let’s pretend you own entire Bitcoin mining network, and all miners across the world. If you used that much power to guess a 12 word seed phrase it would still take you 13.8 Billion years :rofl:

It’s literally impossible to have some secret-generating procedure that has zero chance of someone else producing the same secret.

Of all the issues blockchain technology has, this is definitely not one of them. That chance is negligible, it will be more likely that a meteor falls in you head.

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Yes, thank you for at least making the effort to read it

I believe that this is far too underestimated and gives a false sense of security by relying on sources on the internet. Who really knows how advanced the technology is, especially the capital to develop such things?

I’m sorry, you’re fighting against mathematics

One question: How do you know that the required hardware and software is not already in the works or will be available soon? And that it will not be long before it is used?

I don’t think you would find this information on the Internet in this case.
Thats all.

Take a look at this program. Someone wrote it for free to use and this program can produce great results with a normal computer.

Now imagine an intelligence agency, a government or a tech billionaire with the necessary resources develops millions or billions worth of software and hardware because he expects to steal liquidity from the crypto market.

You would only find out when your wallet has been emptied and as long as this possibility exists and nobody really knows how big the danger is, developers should definitely try to develop security measures against it.

That is a simple brute force tool. Brute force is always possible*, that does not mean the schemes are insecure.

If you pick a number between 1 and 100, I will have a 1/100th chance of guessing it in the first try, or I can just try all 100 possible numbers to see which is yours. You can’t possibly avoid this. What happens in cryptography is that you simply pick a number big enough that brute force is impossible in practice.

It does not matter how many resources any intelligence agency or billionaire has, you can’t fight against physics. Even if you tapped into 100% of the sun’s power output you couldn’t possibly brute force a 128-bit key.

(*like everything in cryptography there are always exceptions but I won’t bother going into details because they are not relevant to the discussion)

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2^128 = 340,282,366,920,938,463,463,374,607,431,768,211,456

Ok apparently it won’t really be possible with brute force and if, its pure luck.
Convinced.

Why are you ignoring everything I say? You can estimate the minimum amount of power you need to try a key, and if you multiply that by 2^128 you will get an insane amount of power that is simply unachievable.

See:

Believe me, I’m not ignoring you. A very interesting article by the way.