"The days of bitcoin are numbered." How many years will it take to hack cryptocurrency

"The days of bitcoin are numbered." How many years will it take to hack cryptocurrency

By Kluma | InterestingCrypto | 26 May 2020

The MasterChangz user said that he is going to get access to a wallet with other people's digital money, selecting 600 million private keys per second for this purpose. However, Bitcoin Core developer Luke Dashjr questioned the success of this method

The days of bitcoin are numbered, said Twitter user MasterChangz, who is trying to crack crypto wallets by selecting private keys. According to him, the code of the main digital coin will be hacked within 5 years, as the computing power of technology increases by 900% every two years.

"Now I'm trying to find the key to a wallet with bitcoins, going through 600 million keys per second. Every two years, the speed of selection increases by about 10 times due to technological updates. The days of bitcoin are numbered, it has 5 years left, " MasterChangz wrote.

Technically, it is possible to pick up a private key and get access to cryptocurrency. However, this will take a long time, said Bitcoin Core developer Luke Dashjr. According to his calculations, it will take about 38593493520073954175290747912192 years to hack a simple, old bitcoin wallet using middle-class video cards.

"With a video card speed of 600 MK/s, it will take an average of 38593493520073954175290747912192 years to hack an old bitcoin wallet. I'm not sure, " Dashjr suggested.

Doubt about the success of MasterChangz was also expressed by the developer of the Cash App, Danny Dikroeger. He believes that even if the user can increase the computing power of technology a billion times and select private keys at this speed for 100 years, the chance of running into a suitable one and hacking the wallet will be 0.00000000000000000000000000000000000001%.

In October, Forbes magazine published an article that Google's developments in quantum programming may pose a threat to the crypto industry. It is believed that the computing power of quantum supercomputers will be enough to crack the algorithms underlying the cryptocurrency. But Peter Todd, the developer of Bitcoin Core, did not agree with this assumption.

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