/biz/ - Business & Finance

I can’t even tell if this is bait at this point. God damn it

>>20426516
Brainlet detected

>>20426516
Can you post your paper wallet so we can check it for security ?

>>20426659
>>20426701
Its not b8. Ive been in crypto for 3 years and never bothered with a private wallet. you fags keep saying
>Major crypto currency exchanges hacking just around the corner...!
But then nothing gets hacked, at least enough to lose funds


Now explain how what i said is wrong? How the fuck is a 32 DIGIT ONLY PRIVATE KEY enough to stop a hacker from stealing your money

bump. answer me faggots

>>20426970
no youre too gay go kys

Do you realize how strong a 32 character cipher is? Do you know how much computing power to take to crack and it still wouldn’t be done in your lifetime? You need to read more about cryptography for fucks sake the arabs figured out this shit a thousand years ago

>>20426516
Retard

>>20426887
You've been in crypto for 3 years and never bothered to learn what a hash function is?

>>20426516
someone care to explain ho well hardware wallets work? I was looking at trensor or whatever the fuck it is

>>20427013
>Do you realize how strong a 32 character cipher is?
SO I WAS RIGHT. A FUCKING 32 DIGIT PASSWORD IS THE ONLY THING GAURDING A WALLET. THATS FUCKING STUPID

So you are all sitting ducks to some /g/angster

>>20426516
Youre more likely to pick a particular atom out of all of the atoms that the earth is composed of than guess a private key

>>20427274
>muh 32 digit code
no wonder quantum computing makes crypto obsolete

>>20427236
Your chances of guessing my private key are
1 in 115 quattuorvigintillion.

You literally have better odds of winning the EuroMillions every week for a year.

>>20427357
I dont care if this is bait or not. Kys

>>20427387
its impossible to generate a pricate key offline anyway. So once when hacker sees it youre done for

>>20426516
delete this

>>20427429
>its impossible to generate a pricate key offline anyway
Low effort bait. Either you are a sub 50 fucking retard or low effort bait. I'm guessing it's bait as nobody can be that stupid

>>20427429
You don’t really understand how hacking works do you anon

>>20427236
Learn2cryptography you fucking idiot

>>20427473
>>20427484
You can NOT generate a private key and wallet without connecting to the internet. Thats literally impossible.

>>20427069
You plug in the trensor, lock in the price and wait..

>>20427523
>You can NOT generate a private key and wallet without connecting to the internet.

You really are a dumbass

>>20427013
>Do you know how much computing power
how the fuck owuld that take computing power? i can literally think of 32 characters on my own. aum2ib8amz0kq2jam9qn4lsbqyzu9nd
imagine how much a computer could do

>>20426516
>all he has to do is guess the private key
Ahhh never change biz

>>20427523
>cryptography didn't exist before the internet
I don't even have a proper brainlet pic for this autism

>>20427541
How do you get a wallet without connecting to the internet??? Show me you fucking dildo. You cant

>>20427598
Are you serious, think coins is ones and zeroes being physically sent to your computer?

You want a wallet, flip a coin 160 times, that's your 160 bit hash, calculate pub key of that, calculate address of that and you can receive coins. Wanna send coins, write down the tx, smoke signal to closest friend with internet, he publish it to the block chain.

>>20427595
Don’t insult autistic people, at least they’re skilled at something

>>20426516
that's because you're a moron.

>>20427713
most autists are low functioning
autism is not a superpower anon

>>20427698
>calculate pub key of that
how the fuck am i supposed to do that???? Youre saying all i have to do is come up with some bat shit insane 32 digit password, put it into some mystery machine, then i have a wallet?
I never heard of this being possible in my 3 years of crypto

>>20426516
Go to school fucktard

>>20426516
I can't tell if this is bait or not, good job.

>>20427747
No, you need a 160 bit hash to access a wallet, 12/24 words if your going mnemonic, but they still translate to the 160 bits. You dont create wallets they are already there. How could you've been in crypto for 3 years and not have the simplest understanding of the basics?

>>20427832
I dont know. I dont even know what a hash is desu.
All my life in crypto, /biz/ keeps saying exchanges being hacked are just around the corner. And if you have all your money in exchange, youre as good as dead. But nothing has ever fucking happened since Mt Gox so i never took the warnings serious at all

How are you anons falling for this fucking retarded bait. Obviously OP knows it's not possible.

Having said that, if you're genuinely not understanding it still,
https://www.youtube.com/watch?v=bBC-nXj3Ng4

OP is a good man

>>20427915
Shut the fuck up. Ive been asking this question for 3 fucking years and non of you fucking retarded dildo shit eating faggots give me a good answer, so ive had 6 figures on exchanges my entire time in crypto

>>20427871
A 160 bit hash is a 160 digit long string consisting of either 1 or 0.

10100101010100101.....10101001010101

https://selfkey.org/list-of-cryptocurrency-exchange-hacks/

I'm surprised people like you even manage to buy crypto, is this really not just you thinking acting retarded is trolling?

>>20427959

While we are here I may as well recommend this book, easy read but very interesting

https://www.amazon.com/Code-Book-Science-Secrecy-Cryptography/dp/0385495323

>>20427969
NO ONE EVER MAKES A WALLET THIS WAY. Every Single fucking wallet tutorial i see you have to go to some website and click
>generate new wallet

Its IMPOSSIBLE to make a wallet from scratch

bump

>>20427590
I refuse to believe this isn’t bait

>>20428032
Yep, you are absolutely correct. Computers is just black magic who the hell knows how is all stringed together.

>>20427531
What? Can you send from another wallet? How does it work exactly? Whats the security on those things?

>>20428267
Are you saying i can generate one of these wallets from just saving the website as html and accessing it offline??

>>20428308
No you have to save the php code or it will never work.

>>20426887
>Ive been in crypto for 3 years and never bothered with a private wallet.
I'm done with this board.

>>20428346
I dont know.... What if i send my crypto to a wallet, i try to enter private key, but it doesnt work
Im really fucked.

>>20428411
You just have to enter it twice, always works.

>it’s easy to guess 32 consecutive fucking words in exact order

>>20428411
You do know that exchanges keep coins/tokens in wallets too?

>>20427959
did you watch the video?

>>20428451
I heard a tip that all exchanges are going down completely in 2 months. Like theyre going to freeze every account and say youre not allowed to access money anymore.
i dont even want to kove from exchange. But all exchanges are supposed to die in 2 months

>>20428504
Wow you chinks are in full FUD mode. God speed I suppose

>>20427357
There is no quantum computing.
And even if there was quantum computing=/=no hashing or that it would be profitable to crack sha256 addresses

guys how do i stop firefaggot from using so much ram and cpu? why is google cum performing so much better?

>>20428524
Its true. Coinbase and Binancr are going to freeze all your accounts, pump coins to 1000x their value for elites and then unfreeze.
This is the only reason im making this thread. im scarred shitless. Especially after obama got hacked.

>>20428575
4chan mines BTC with your ram when you're not looking

>this thread
10/10 im crying

>>20428371
I've been in crypto since I got home from Nam and I've never felt the need to employ such over-priced nonsense.

>>20428539
There is, just not the General Purpose quantums that would be needed. Shor's algorithm, while it hasn't been tested on a quantum yet, should theoretically be able to calculate the private keys for SHA256 key pairs in a matter of minutes.

>>20427069
>>20428302
Hardware wallets store the private keys for your wallet. Their claim to fame for protection is that if your computer is compromised, they can't authorise transactions. The only way to do so is on the hardware wallet. Having said that, this does not make your wallet 'unhackable', and the same "Guessing" attack OP suggests could be applied to an address tied to a hardware wallet, provided you are INCREDIBLY unlucky. (No really, it would take an unimaginable period of time to do so)

>>20427429
>>20427523
Not true. Try it. Turn off your wifi, unplug your ethernet, whatever it takes to disconnect from the internet, and then try create a wallet in metamask. It will work. It's kinda pointless because you need the internet to sync with the blockchain and get the transaction history, but it shows you that you actually DON'T need the internet to create the wallet.

>>20428411
This is a true threat. As we saw in 2017 with Bitcoin, if you lose your private key, you are indeed fucked. That's why some wallets, especially the more user friendly mobile ones encourage you to write down a series of key words. They can then use these words to derive your private key, meaning you regain access to your account.

>>20428589
There's no need to worry about the twitter hacks yesterday. They were just that. An attack on the twitter platform. Social media platforms like that get hacked often, the only reason it's relevant here is because the hackers made a big public statement and encouraged people to send them Bitcoin. Chances are most people will forget about it after a couple of weeks.

>>20428589
That doesn't seem very likely. Coinbase is very heavily regulated, and it's hard to imagine they do that unnoticed.

>>20428371
You really don’t “get” crypto until you learn how to own your own coins

>>20427031
kek
the absolute state of /biz/

>>20426887
What do you think is securing every website password from hackers?

>>20427590
>aum2ib8amz0kq2jam9qn4lsbqyzu9nd
what about aum2ib8amz0kq2jam9qn4lsbqyzu9ne
and so on. how many would you need to check. this has to be bait

>>20426887
The exchange account isn't shitty because of hacking risks... its shitty because the company owns the address of your coins. They can deny you the ability to withdraw based on some arbitrary rule or ToS violation, ie. you didn't verify your id soon enough, or you are not in x country, or they think the transaction is "suspicious"... its really up to them to determine whether or not you can access your shit. You don't actually own it when its still on the exchange... thats the thing. A paper wallet is definitely yours... it will be yours forever... no one can touch it so long as they don't get your passphrase or private key, and no failure of any device, server or institution could erase your wallet. You could lose your paper wallet passphrase and a decade later, you find it in your old work boots and plug it in and bam, there are your coins.

Storing on exchanges is just dumb. Hardware wallets are also dumb but for different reasons, mainly cost of the wallet, and the fact its a fucking flash drive and flash memory is easily corrupted.

>>20426516
They say it would take a quantum computer 10 years to crack your 32 digit private key

>>20426887
>Its not b8.
Even though all warning signs are pointing to bait, I'm gonna give you the benefit of the doubt and try to explain everything to you.

>>20427236
>A FUCKING 32 DIGIT PASSWORD IS THE ONLY THING GAURDING A WALLET.
Same goes for exchanges. You can see the exchange wallets by looking at the "bitcoin rich list". If you can guess the 32 byte private key for those exchange wallets containing tens of thousands of bitcoins, they're yours to take.

>>20427523
>You can NOT generate a private key and wallet without connecting to the internet.
>>20427598
>How do you get a wallet without connecting to the internet???
>>20427747
>I never heard of this being possible in my 3 years of crypto
Almost ANY 64 digit hex number(i.e. 32 byte number) is a valid private key.
You can roll dice or flip coins more than 100 times to generate your private key.

Coldcard has this feature. You can roll dice, and it will generate the private key from that. You can even check that they generated the private key from that if you know how a hash function works, as their site states, the private key is literally hash256(dice-rolls).

I'll show you that in a bit.

-contd-

>>20427871
>I dont even know what a hash is desu.
It's some really complicated math computation to generate a pseudorandom value.

Bitcoin likes to use SHA256.
The SHA256 of "aaaaa" is
>ED968E840D10D2D313A870BC131A4E2C311D7AD09BDF32B3418147221F51A6E2
The SHA256 of "aaaab" is
>5EF1B1016A260F0C229C5B24AFE87FE24A68B4C80F6F89535B87E0CA72A08623

Just by changing 1 letter, the hash completely changes.
As far as mathematicians can tell, hashing is one-way (you cannot get the original value from the hash).

You can try this yourself here:
https://passwordsgenerator.net/sha256-hash-generator/
(or you can google "SHA256 online", and any use any tool there)

You can see how I did it in the top half of pic related.

This is how bitcoin mining literally works.
They just keep running SHA256 on transaction blocks, changing a random number (called a nonce) until the hash has enough zeroes at the start.

The number of zeroes required is the "difficulty". Difficulty 10 means it has to have 10 leading zeroes. See pic related, that's the latest mined bitcoin block's hash as I was typing this.

The difficulty goes up if blocks are mined too fast (faster than 10 minutes each) and goes down if blocks take to long (longer than 10 minutes). That's basically bitcoin mining.

If you look at ColdCard's "generate wallet from dice rolls" feature, they just use SHA256 on the dice rolls, and uses the result as your private key. You can check it yourself, say your rolls are "232665413", hash that string, and that's the private key they'll use for you. The ColdCard wallet can do this without being connected to the internet.

Some people even used sha256 hash on some text they memorized to create "brain wallets" (but this is highly insecure as other people can guess your wallet)

>>20429187
Some guy on leddit used a poem as his "brain wallet", took the SHA256 hash of the poem as his private key.
Got hacked, seems some people out there are running SHA256 on many phrases to find people using them as brain wallets.
https://www.reddit.com/r/Bitcoin/comments/1ptuf3/brain_wallet_disaster/

>>20428821
>I will take the side of something that doesn't exist to cope with the fact I vastly overestimated the risk of a network that has been running for 11 years with an unprecedented security record
ngmi

>>20428821
>Shor's algorithm, while it hasn't been tested on a quantum yet, should theoretically be able to calculate the private keys for SHA256 key pairs in a matter of minutes
Shor's algorithm can theoretically compute the private key of an exposed ECDSA public key.

It CANNOT reverse a SHA256 hash. Even with Grover's algorithm, it only reduces the complexity of finding a collision by a degree, and even then, your commission cannot be guaranteed to be a proper private key (32 byte).

Quantum computers cannot reverse hashing algorithms, as those can take any length of input (even gigabytes). They can only theoretically compute private keys from the public key of asymmetric encryption algorithms.

And if you've never reused an address, never spent from it on signed a message from it, your public key isn't even exposed. All they have is a hash of your public key (this is the address). The public key isn't revealed until you spend or sign.

Just out of curiosity, if I were to just punch in random 32 digit numbers, what is the likelihood I will hit *any* wallet that contains coins?

It's extraordinarily low that someone would correctly guess *your* private key, but once there are lots of wallets out there, doesn't it get much easier to hit a random coin-containing address?

>>20429391
You're basically going from the number of atoms in the universe to the number of atoms in the galaxy. It's functionally still a 0% chance.

>>20427590
>how the fuck owuld that take computing power? i can literally think of 32 characters on my own. aum2ib8amz0kq2jam9qn4lsbqyzu9nd
>imagine how much a computer could do

A computer guessing that takes up energy, in the form of electricity.
Let's say it was perfectly efficient, it used only a single atom's worth of energy for each guess.

For 32 bytes (256 bits) amount of guesses, there are actually not enough atoms in our solar system for that. You could literally use up our entire sun and still not be done counting through all combinations.

Pic related.

>>20428821
I have a dumb question. Let's say I'm using a hardware wallet and have to use the manufacturer's website to access the funds and make transactions. What happens if the manufacturer stops their online service and I also lose the device, but still have the 24 word seed? Can I basically use this seed to generate my wallet private key and access it using Electrum or similar wallet app? And what if my device was also protected by a passphrase? I'd have to know what algorithm to feed the 24 word seed and passphrase to get my keys right?

>>20426887
You don't realize how hard it is to guess that key. It would take something like 10,000 years with the most powerful computer

>>20427236
Fucking brainlet. You realize exchanges need wallets to hold the coins too. If you think your personal wallet can be hacked, what's stopping an exchange wallet from the same fate.

>>20426887
https://allprivatekeys.com/get-lucky
yeah anon you can get every single bitcoin in the world with this one simple trick

>>20426887
Bruh

>>20426516
odds of guessing the correct private key is 0.0000000000000000000000000001%. You can also put a password on the privatekey. Even if he guess the private key. He need your password to unlock it.

>>20431094
>You can also put a password on the privatekey