30 Sep '12, 2am

Stealing Bitcoins the Hard(est) Way by @KJ6CCZ #bitcoin

To put all these big numbers another way: Bitcoin uses the same sorts of encryption and intractable math problems for its security as most encryption elsewhere in the world. The key space and manner of generation is also similar to many other common encryption-based systems. If Bitcoin were easily compromised because this addressing scheme were a "flaw" or "bug" then so would every single encryption technology you use today. That would mean that your bank account, personal computer, credentials for every web site, cellular communications - basically every device that you assume is hard to eavesdrop on would in fact be dead simple to snoop. An cryptological failure large enough to take down Bitcoin would take down the rest of the world economy and communications infrastructure with it, so personally I wouldn't be worried about Bitcoin at that point. That means your odds are...

Full article: http://codinginmysleep.com/stealing-bitcoins-the-hardest-...

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