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How Long Is A Bitcoin Private Key?

Private Key - Bitcoin Wiki

Private Key - Bitcoin Wiki

This page contains sample addresses and/or private keys. Do not send bitcoins to or import any sample keys; you will lose your money. A private key in the context of Bitcoin is a secret number that allows bitcoins to be spent.Every Bitcoin wallet contains one or more private keys, which are saved in the wallet file.The private keys are mathematically related to all Bitcoin addresses generated for the wallet. Because the private key is the "ticket" that allows someone to spend bitcoins, it is important that these are kept secure.Private keys can be kept on computer files, but in some cases are also short enough that they can be printed on paper. Some wallets allow private keys to be imported without generating any transactions while other wallets or services require that the private key be swept.When a private key is swept, a transaction is broadcast that sends the balance controlled by the private key to a new address in the wallet.Just as with any other transaction, there is risk of swept transactions to be double-spending. In contrast, bitcoind provides a facility to import a private key without creating a sweep transaction.This is considered very dangerous, and not intended to be used even by power users or experts except in very specific cases.Bitcoins can be easily stolen at any time, from a wallet which has imported an untrusted or otherwise insecure private key - this can include private keys generated offline and never seen by someone else [1] [2] . In Bitcoin, a private key is usually a 256-bit number (some newer wallets may use between 128 and 512 bits), which can be represented one of several ways.Here is a private key in hexadecimal - 256 bits in hexadecimal is 32 bytes, or 64 characters in the range 0-9 or A-F. E9873D79C6D87DC0FB6A5778633389_SAMPLE_PRIVATE Continue reading >>

A Long-secret Bitcoin Key Is About To Be Revealed

A Long-secret Bitcoin Key Is About To Be Revealed

A Long-Secret Bitcoin Key Is About to Be Revealed A long-held bitcoin secret is about to be revealed. No, its not the identity of Satoshi Nakamoto, its a private key the cryptocurrencys creator entrusted to several bitcoin developers that activates the protocols so-called alert system, once used to flash a text warning to those running the software in case something happened that could impact the security of their funds. If you didnt know bitcoin had a warning system like this, thats because it was retired in 2016 due to security concerns and frequent confusion about its use. The alert system was a frequent source of misunderstanding about the security model and effective governance,' well-known Bitcoin Core contributor Greg Maxwell wrote in a public email from September 2016. In short, some in the bitcoin community thought it could be used to change that network rules that unite users, which isnt really the case. For example, a BitcoinJ developer once wanted to use the key to control fees, while a Bloq staffer pressed for Bitcoin Core developers to use the key to change the networks mining difficulty. Plus, developers were worried that if the wrong person got ahold of the key, they could broadcast false messages or potentially cause panic. As such, to some, the reveal being undertaken by Bitcoin Core contributor Bryan Bishop is a long time coming. Folks, its going to be an interesting show, Bishop tweeted , followed by a string of tweets cryptographically proving hes in possession of the secret key, without fully revealing it quite yet. The reveal is the final step to destroying the system. After Bitcoin Core developers released new code in 2016 without the alert system, in January 2017, a final alert message was broadcast, which by law of the code made that message u Continue reading >>

How Much Time To Crack A Private Key?

How Much Time To Crack A Private Key?

Actually my question is how much time at 1 TH/s is needed to crack any of the top 10000 holding btc addresses? what if someone start a pool to crack any of those keys? someone can "protect" spliting holdings in a few accounts, but if only a key is cracked that would hurt BTC very bad. So, how much time is needed to crack any key? not a specific one, supouse The script keeps a bunch of keys in memory and with each iteration tries to brake any of them. If you see garbage posts (off-topic, trolling, spam, no point, etc.), use the "report to moderator" links. All reports are investigated, though you will rarely be contacted about your reports. Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. If we built a Dyson sphere around the sun and captured all its energy for 32 years, without any loss, we could power a computer to count up to 2192. Of course, it wouldnt have the energy left over to perform any useful calculations with this computer. But thats just one star, and a measly one at that. A typical supernova releases something like 1051 ergs. If all of this energy could be channelled into a single orgy of computation, a 219-bit counter could be cycled through all of its states. These numbers have nothing to do with the technology of the devices; they are the maximums that thermodynamics will allow. And they strongly imply that brute-force attacks against 256-bit keys will be infeasible until computers are built from something other than matter and occupy something other than space. Quote from: Carlos L. on January 29, 2013, 04:44:09 PM This question has been answered 999999999999999999999 times. I missed them. However a brute force attack would be much easied by the fact that the pri Continue reading >>

What If I Have Found The Private Key To A Long Dormant Bitcoin Address? Can I Claim The Wallet And Transfer The Bitcoins Into My Wallet?

What If I Have Found The Private Key To A Long Dormant Bitcoin Address? Can I Claim The Wallet And Transfer The Bitcoins Into My Wallet?

Answered Nov 11, 2018 Author has 320 answers and 272.9k answer views Let s put aside the moral side to this question (a big side) Even if you find a private key the funds may not be available. Indeed if the prior owner (or someone like you who found it) have used this private key to move the funds to a different wallet and made at least 1 transactions out of it, the funds are no longer available. In that case if you were to you that private key you would not be able to do anything at all If funds were never moved then you can access the funds and spend them the way you want Answered Nov 5, 2018 Author has 224 answers and 10.6k answer views If you have the private keys, you can access and use the funds. Morally speaking, you should at least try to find the original owner of the wallet. However, be extremely careful, especially if the address contains a lot of money - you dont want to expose your identity online and tell everyone that you have a lot of crypto funds. You never know who might try to claim that money or hurt you to get it. Do not share the address or your identity with people who you do not know. Continue reading >>

The Length Of The Bitcoin's Private Keys

The Length Of The Bitcoin's Private Keys

In Bitcoin, a private key is usually a 256-bit number ... Although it is a silly question, is this length safe? Based on this site , Elliptic Curve 256 bit keys are safe until 2040. Does Bitcoin network change its key size in that far future?? If Bitcoin reaches 2040, what happens to many wallets that use 256 bit keys? Bitcoin uses the secp256k1 elliptic curve with 256 bit private/public key pair cryptography to render ECDSA functionality. The two bitcoin explorer (bx) commands below replicate statements/results in the site references above. Note the private key is a 256-bit hexadecimal encoded number. % echo "e9873d79c6d87dc0fb6a5778633389f4453213303da61f20bd67fc233aa33262" | bx base58check-encode -v 128 5Kb8kLf9zgWQnogidDA76MzPL6TsZZY36hWXMssSzNydYXYB9KF - is the associated uncompressed private key that is encoded using base58 check, also called Wallet Input Format (WIF). % echo "e9873d79c6d87dc0fb6a5778633389f4453213303da61f20bd67fc233aa33262" | bx ec-to-public -u | bx ec-to-address -v 0 1CC3X2gu58d6wXUWMffpuzN9JAfTUWu4Kj - is the address corresponding to the associated uncompressed public key. If I were a hacker that wanted to compromise secp256k1, I would first compromise the top 100 rich list wallets that are not using multisig first. Bitcoin is the most excellent canary in the cryptographic coal mine to determine when secp256k1 fails. The banking system would never be such a good crypto-Samaritan. From Table 1 the elliptic curve subject matters experts assert the strength of a 256-bit secp256k1 private key has the strength of 128 bits of encryption when the associated public key is exposed. To brute force attack a public key to obtain a public key with 128 bits of entropy will cost at least $100M in electricity at 5 cents per KW-Hr using almost perfectly efficie Continue reading >>

How To Generate Your Very Own Bitcoin Privatekey

How To Generate Your Very Own Bitcoin Privatekey

Founder of @Longcaller. Interested in distributed systems, game design, and cryptoeconomic primitives. Write about cryptocurrencies. How to generate your very own Bitcoin privatekey In cryptocurrencies, a private key allows a user to gain access to their wallet. The person who holds the private key fully controls the coins in that wallet. For this reason, you should keep it secret. And if you really want to generate the key yourself, it makes sense to generate it in a secure way. Here, I will provide an introduction to private keys and show you how you can generate your own key using various cryptographic functions. I will provide a description of the algorithm and the code in Python. Most of the time you dont. For example, if you use a web wallet like Coinbase or Blockchain.info, they create and manage the private key for you. Its the same for exchanges. Mobile and desktop wallets usually also generate a private key for you, although they might have the option to create a wallet from your own private key. So why generate it anyway? Here are the reasons that I have: You want to make sure that no one knows the key You just want to learn more about cryptography and random number generation (RNG) Formally, a private key for Bitcoin (and many other cryptocurrencies) is a series of 32 bytes. Now, there are many ways to record these bytes. It can be a string of 256 ones and zeros (32 * 8 = 256) or 100 dice rolls. It can be a binary string, Base64 string, a WIF key , mnemonic phrase , or finally, a hex string. For our purposes, we will use a 64 character long hex string. The same private key, written in different formats. Why exactly 32 bytes? Great question! You see, to create a public key from a private one, Bitcoin uses the ECDSA, or Elliptic Curve Digital Signature Algori Continue reading >>

What Is A Bitcoin Private Key?

What Is A Bitcoin Private Key?

A private key is just a number picked at random. The private key is used to generate the public key through an irreversible process. In the case of Bitcoin the Private key is turned into the Public key through Elliptic Curve C ryptography or ECC for short. If you lose your private key you can't access your Bitcoins, and if someone else finds it out they can steal them. A Private key is just a long number and in the case of a Bitcoin it is a number between 1 & 1.158x 10^77. In practice this number is generated using a secure random number generator that is then fed into the SHA-256 hashing algorithm. The SHA-256 hashing algorithm takes a string of numbers and outputs a 256 bit number which then has to be checked to see if it is less than 1.158x 10^77. When creating your private key most software will do this under the hood, but if you choose certain methods on your own such as 1x10^77 or other certain obvious numbers and then hash via the SHA-256 hackers can create rainbow tables and match to your private key, public key and address. If you do this and choose a particular phrase you are reducing the entropy or chaos of your choice! Always opt for randomness just to be safe even if the chances are very small. The point of using Elliptic curve cryptography is to find a method whereby you can create a Bitcoin Public Key easily Bitcoin Private Key but not the reverse i.e. find the Bitcoin Private Key from its Public Key. This is due to the discrete logarithm problem for elliptic curves, where the best mathematical solutions to break elliptic curve cryptography have to take step proportional to 2n/2 , where n is the length of the number which the Bitcoin key has to below (1.158x 10^77) (also known as the field size the curve is based on for modular arithmetic). In practice t Continue reading >>

4. Keys, Addresses, Wallets - Mastering Bitcoin [book]

4. Keys, Addresses, Wallets - Mastering Bitcoin [book]

Ownership of bitcoin is established through digital keys, bitcoin addresses, and digital signatures. The digital keys are not actually stored in the network, but are instead created and stored by users in a file, or simple database, called a wallet. The digital keys in a users wallet are completely independent of the bitcoin protocol and can be generated and managed by the users wallet software without reference to the blockchain or access to the Internet. Keys enable many of the interesting properties of bitcoin, including de-centralized trust and control, ownership attestation, and the cryptographic-proof security model. Every bitcoin transaction requires a valid signature to be included in the blockchain, which can only be generated with valid digital keys; therefore, anyone with a copy of those keys has control of the bitcoin in that account. Keys come in pairs consisting of a private (secret) key and a public key. Think of the public key as similar to a bank account number and the private key as similar to the secret PIN, or signature on a check that provides control over the account. These digital keys are very rarely seen by the users of bitcoin. For the most part, they are stored inside the wallet file and managed by the bitcoin wallet software. In the payment portion of a bitcoin transaction, the recipients public key is represented by its digital fingerprint, called a bitcoin address, which is used in the same way as the beneficiary name on a check (i.e., Pay to the order of). In most cases, a bitcoin address is generated from and corresponds to a public key. However, not all bitcoin addresses represent public keys; they can also represent other beneficiaries such as scripts, as we will see later in this chapter. This way, bitcoin addresses abstract the recip Continue reading >>

How To Import And Export Bitcoin Private Keys

How To Import And Export Bitcoin Private Keys

How to Import and Export Bitcoin Private Keys How to Import and Export Bitcoin Private Keys This guide was originally written with Bitcoin (BTC) in mind. The same steps apply for Bitcoin Cash (BCH) wallets. Just make sure you are dealing with the keys for the correct currencys wallet(s) before proceeding. Before getting started with importing your wallets private keys , lets clarify three important definitions. Backup: A filecontaining a wallets private key information. Backups can be exported from a wallet or imported to a wallet. Export:The process of creating a file containing a wallets private key data. Exported keys can be imported to a new/different wallet to give access to the Bitcoins associated with the exported private key(s). Import:The process of gaining control of Bitcoins via an exported backup. Wallets can import private keys via text files or QR code scanning. Bitcoins are not stored locally on your phone or laptop. They are stored on the blockchain and you use a Bitcoin wallet to access the coins for sending/receiving the cryptocurrency. This means if you lose your phone or buy a new laptop you can access your bitcoin by importing your key(s) from a previously exported backup. With a backup, you are able to recover your bitcoin at any time by importing the private keys associated with that wallet from the backup. This is why it is imperative that users take the time to createa backup of their wallet before adding bitcoin to it. For more on creating a backup, please see our Bitcoin.com wallet guide . If you have not already done so, please go ahead and backup your wallet. This process is covered in detail in the guide on how to use the Bitcoin.com wallet . If you do not backup your wallet and store this information somewhere safe you run the risk of los Continue reading >>

Minimum And Maximum Length Of A Private Key. : Bitcoin

Minimum And Maximum Length Of A Private Key. : Bitcoin

Do not use URL shortening services: always submit the real link. Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy. News articles that do not contain the word "Bitcoin" are usually off-topic. This subreddit is not about general financial news. Submissions that are mostly about some other cryptocurrency belong elsewhere. For example, /r/CryptoCurrency is a good place to discuss all cryptocurrencies. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. Trades should usually not be advertised here. For example, submissions like "Buying 100 BTC" or "Selling my computer for bitcoins" do not belong here. /r/Bitcoin is primarily for news and discussion. Please avoid repetition /r/bitcoin is a subreddit devoted to new information and discussion about Bitcoin and its ecosystem. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Aside from new merchant announcements, those interested in advertising to our audience should consider Reddit's self-serve advertising system . Do not post your Bitcoin address unless someone explicitly asks you to. Be aware that Twitter, etc. is full of impersonation. Continue reading >>

Private Key

Private Key

A private key is a sophisticated form of cryptography that allows a user to access his or her cryptocurrency . A private key is an integral aspect of bitcoin and altcoins , and its security make up helps to protect a user from theft and unauthorized access to funds. When dealing with cryptocurrency , a user is usually given a public address and a private key to send and receive coins or tokens. The public address is where the funds are deposited and received. But even though a user has tokens deposited into his address, he wont be able to withdraw them without the unique private key. The public key is created from the private key through a complicated mathematical algorithm. However, it is near impossible to reverse the process by generating a private key from a public key. The private key is made up of 51 alphanumeric characters which makes it hard for a hacker to crack. Think of a public address as a mail box, and the private key as the key to the box. The mailman, and anyone really, can insert letters and small packages through the opening in the mailbox. However, the only person that can retrieve the contents of the mailbox is the one that has the unique key. It is therefore, important to keep the key safe because if it is stolen or gotten without authorization, the mail box can be compromised. A digital wallet stores the private key of a user. When a transaction is initiated, the wallet software creates a digital signature by processing the transaction with the private key. This upholds a secure system since the only way to generate a valid signature for any given transaction is to use the private key. The signature is used to confirm that a transaction has come from a particular user, and ensures that the transaction cannot be changed once broadcasted. If the tra Continue reading >>

Private Key. All About Cryptocurrency - Bitcoin Wiki

Private Key. All About Cryptocurrency - Bitcoin Wiki

A private key in the context of Bitcoin is a secret number that allows bitcoins to be spent. Every Bitcoin address has a matching private key, which is saved in the wallet file of the person who owns the balance. The private key is mathematically related to the Bitcoin address, and is designed so that the Bitcoin address can be calculated from the private key, but importantly, the same cannot be done in reverse. Because the private key is the "ticket" that allows someone to spend bitcoins, it is important that these are kept secure. Private keys can be kept on computer files, but they are also short enough that they can be printed on paper. An example of a utility that allows extraction of private keys from your wallet file for printing purposes is pywallet. In order to create a transaction with a private key, it must be available to a program or service that allows entry or importing of private keys. Some wallets allow the private key to be imported without generating any transactions while other wallets or services require that the private key be swept. When a private key is swept, a transaction is broadcast that sends the entire balance held by the private key to another address in the wallet or securely controlled by the service in question. An example of private key sweeping is the method used on MtGox's Add Funds screen and BIPS Import screen. Just as with any other deposit, there is risk of double-spending so funds are deposited to the MtGox account after a six-confirmation wait (typically one hour). In contrast BlockChain .info's My Wallet service and Bitcoin-QT each provide a facility to import a private key without creating a sweep transaction [1] . In Bitcoin, private key is a 256-bit number, which can be represented one of several ways. Here is a private ke Continue reading >>

Is It Possible For Someone To Guess A Private Key To A Bitcoin Wallet And Steal The Coins?

Is It Possible For Someone To Guess A Private Key To A Bitcoin Wallet And Steal The Coins?

If you use a Brainwallet then yes, somebody can guess your private key as you can use dictionaries and brute force attack it. For a true random generated wallet the probability of guessing is unpractical. Here is a private key in hexadecimal - 256 bits in hexadecimal is 32 bytes, or 64 characters in the range 0-9 or A-F. E9873D79C6D87DC0FB6A5778633389F4453213303DA61F20BD67FC233AA33262 This private key does not exist by the way. So you see, there are 64 characters, and each character is hexadecimal (can hold 16 different case insensitive values: {0,1,2,3,4,5,6,7,8,9,A,B,C,D,E,F} ), meaning there are [math]16^{64}[/math] possible private key combinations. The current world population is roughly [math]7.6[/math] billion. Assume everyone holds a wallet (meaning [math]~7,600,000,000[/math] private keys). Even with this imaginary best case scenario, the success rate of randomly guessing a private key correctly is: [math]~ 100 \cdot \frac{7,600,000,000}{16^{64}} = 0.0000000000000000000000000000000000000000000000000000000000000000065634881018717779152936274157283036740481602769715738[/math]% So even if you had the computing power of Sunway TaihuLight (a Chinese supercomputer which, as of November 2016, is ranked number one in the TOP500 list as the fastest supercomputer in the world), which is about [math]9.3 \cdot 10^{16} = 93,000,000,000,000,000[/math] floating point operations per second (flops), then giving there are [math]86,400[/math] seconds a day and about [math]365[/math] days a year, and (falsely) assuming it takes 1 flop to generate a private key and 0 time to check for its correctness, then a correct guess would probably occur once every- [math]\frac{1}{365} \cdot \frac{(\frac{16^{64}}{7,600,000,000})}{(86400 \cdot (9.3 \cdot 10^{16}))} =~ 5194882658574989737995779 Continue reading >>

Bitcoin Private Keys: Everything You Need To Know

Bitcoin Private Keys: Everything You Need To Know

Bitcoin Private Keys: Everything You Need To Know By: Sudhir Khatwani In: Bitcoin , Wallets Last Updated: What if you lost all of your bitcoins tomorrow? What would you do? If you dont own your private key, you dont own your bitcoins. Even the most knowledgeable man on Bitcoin says: The private key must remain secret at all times because revealing it to third parties is equivalent to giving them control over the bitcoins secured by that key. The private key must also be backed up and protected from accidental loss, because if its lost it cannot be recovered and the funds secured by it are forever lost, too. In my earlier guide on Bitcoin wallets , I have used two terms extensively-Private Address (or key) and Public Address (or key).These keys are what make Bitcoin the safest and most widely used cryptocurrency . Tounderstand private keys and public keys, let us look at an example. Consider a mailbox where you receive your physical mail. It has a unique and specific number (an address). If someone has to deliver you a letter, he/she must know your house/flat number to deliver it. And as the receiver, you have a private address (or key)to unlock the mailbox and collect your belongings. In real life, do you give your keys to someone unknown? You always keep track of your key and dont jeopardize the contents inside of your mailbox. Similarly, just like your house/flat number, anyone in the Bitcoin world can know your public address(Bitcoin address) to send you bitcoins. And to unlock (spend/send) those bitcoins, you would requireyour private address (or key)for which you need to take full responsibility, just like the keys of the mailbox. I feel that understanding the underlying technical aspect of keys is important so that your remain better informed and educated enough Continue reading >>

Bitcoin Public And Private Keys

Bitcoin Public And Private Keys

There is more to a bitcoin wallet than just the address itself. It also contains the public and private key for each of your bitcoin addresses. Your bitcoin private key is a randomly generated string (numbers and letters), allowing bitcoins to be spent. A private key is always mathematically related to the bitcoin wallet address, but is impossible to reverse engineer thanks to a strong encryption code base. If you dont back up your private key and you lose it, you can no longer access your bitcoin wallet to spend funds. As mentioned, there is also a public key. This causes some confusion, as some people assume that a bitcoin wallet address and the public key are the same. That is not the case, but they are mathematically related. A bitcoin wallet address is a hashed version of your public key. Every public key is 256 bits long sorry, this is mathematical stuff and the final hash (your wallet address) is 160 bits long. The public key is used to ensure you are the owner of an address that can receive funds. The public key is also mathematically derived from your private key, but using reverse mathematics to derive the private key would take the worlds most powerful supercomputer many trillion years to crack. Besides these key pairs and a bitcoin wallet address, your bitcoin wallet also stores a separate log of all of your incoming and outgoing transactions. Every transaction linked to your address will be stored by the bitcoin wallet to give users an overview of their spending and receiving habits. Last but not least, a bitcoin wallet also stores your user preferences. However, these preferences depend on which wallet type youre using and on which platform. The Bitcoin Core client, for example, has very few preferences to tinker around with, making it less confusing for Continue reading >>

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