Have you ever thought about
how much can
be generated Bitcoin
Addresses and private keys
to them?
In this video, we’ll talk
about amazing mathematics of
private keys
and why bitcoin
addresses can not be hacked.
In this video will operate
huge numbers, but it’s simple
mathematics and I’m sure that
you will understand absolutely everything,
what will be said in this
Let’s begin.
On your screens now
site bitaddress.org, which generates
new bitcoins addresses and
private keys.
You can generate
new bitcoins addresses and
private keys by pressing
button “Generate New Address”.
But the most interesting thing is,
that when you generate
This Address appears
a set of characters that
before no one ever
did not see.
You can take this bitcoin
Address or private
key, paste into the search
line in google and search is not
will give results.
Every time you generate
the new address you are generating
what the world has never seen
up to this point.
If I generate a new one
address, then past address
and the last private key
no one else ever
will not see, and will not generate.
This is the power of large
Now before you private
This is how it can be represented
in a number format. 27 in
This number is the category of quindicillions.
But the approximate number
public addresses Bitcoin,
which can be generated.
The address of the bitcoin is
from 160 bits, and a private key
from 256 bits.
Therefore private keys
can be created more,
than bitcoin addresses.
For comparison, that’s what it looks like
the number of all grains of sand on
planet Earth.
A private key can also
be represented in the form
binary code.
That’s how it looks private
bit address key
in the form of zeros and ones.
Quite a lot of people
use the generation method
private key through
coin toss.
Everything you need
do it, throw it up
coin 256 times and record
zeros and ones.
For example, tails are a unit,
the eagle is zero.
Thus, having thrown
coin 256 times and writing
zeros and ones per sheet
– you will generate a series of numbers,
which no one ever
can not repeat.
In order for this binary
convert the code to the familiar one
kind of private key, it is necessary
convert it to a format
In order to convert
binary code in B58Check format
You can use
converter with open
source code is the brainwallet.
The link to the converter will be
in description.
Again, if you have a paranoia,
then you can download the files
site and run on a virtual
machine without connecting
to the Internet.
Go to the converter section.
In the “Source Encoding” section we select
Bin, in the section “Convert to” choose
We get our private
key that can be imported,
for example, in Electrum or any
another bitcoin wallet.
Now, let’s talk
about the chance that someone
accidentally generate a private
key and address, which is already
someone used.
Let us return to the number of grains of sand
On the Earth.
Here it is.
Now let us imagine that
every person on earth,
will generate 1
billion private keys
every day for 100
There are so many private keys
can generate all
population of the planet for 100
years, every day, generating
for 1 billion private
This is even less than the amount
grains of sand on the whole earth.
But the numbers that are here
small compared
with those that use Bitcoin.
Approximate number
public addresses that
can be generated
is equal to 10 ^ 48.
Now, let’s imagine,
that bitcoin enjoys
the entire population of the planet.
And every person has
not 1 address, but 100 addresses.
Thus, the addresses
with a positive balance
it turns out 700 billion.
What percentage of all addresses
addresses with positive
This is how the share of addresses looks
with balance from all possible
addresses if the whole population
The planet would have 100 addresses each.
But suddenly, all the computers
The land will unite and create
The database that will be
generate address bitoin
and store them on your servers?
At the moment, all the information,
existing on Earth,
all the servers of Amazon, Google,
China, the whole existing
the information weighs 1 zittabyte.
1 Yotabyte is 1000 zettabytes.
To keep all possible
addresses Bitcoin will require
25 iota.
This is 25,000 times more than
the current weight of all information.
Now, imagine the ideal
computer, forget about megahertz
and frequency.
Imagine that there is a computer,
which consumes minimal
amount of energy needed
to change information
in Bit, for example, 1 to 0, and
0 to 1.
Imagine that you used
all natural resources in
our solar system
for the construction of the Dyson sphere
around the sun and sent
this energy to maintain
work of this computer.
And the computer works at
absolute temperature
zero and does not require spending extra
energy for cooling.
The energy of the sun will be directed
to maintain the computer
weeks, years, decades.
And even when the sun is completely
will spend all his energy,
the computer will not be able to count
number of private keys
It is to count, do not hash,
do not check the balance, not
no operations except
counting public keys.
Using Bitcoin, your
means are protected by laws
thermodynamics and laws
the universe.
Yes, yes, many will write about
quantum computer, and
the fact that he will break Bitcoin
and encryption as a whole.
About a quantum computer,
bitcoin and encryption will be
separate detailed video,
and I will explain why the quantum
computer does not represent
absolutely no threat
Is it possible to use math,
which uses Bitcoin
to ensure security?
Bitcoin is only 8 years old and
It is already stored
large sums of money.
Right now, at the addresses
Bitcoin stores hundreds
million dollars.
These addresses are not protected
neither with a password, nor with prints
All you need is a certain
private key, and you can
to withdraw a billion dollars,
for example, with this purse.
You can generate
millions of private keys,
in the hope that you
you will get what you need and you will take
this billion dollars.
Billions of dollars are waiting,
when someone can hack
Bitcoin and take this money.
This proves that Bitcoin
it’s impossible to crack.
For 8 years, people
Keep in Bitcoins Billions
dollars, and everything that you need
you need to pick them up
– generate private
key from a specific address.
You can press the button
Generate New Address as many as you like
once throughout the
own life.
But it will never be generated
private key and public
an address that is already someone
was using.
Chance of what you will find
a certain amount of sand
on earth in quadrillion
times higher than that someone
can generate private
a key that is already someone
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