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It depends. By design (for plausible deniability) the key is not a password, it's a mathematical fact which can be independently discovered. If you generated w
by EdHominem 10y ago
It depends. By design (for plausible deniability) the key is not a password, it's a mathematical fact which can be independently discovered.
If you generated weak keys then it's not theft for me to guess/calculate them and allocate those coins to myself.
This is why BTC is described as proving the strength of hash functions, etc. If it was easy to cheat, someone would claim the public bug bounty by giving themselves all the coins. Because they haven't, we have a fairly good minimum bound on the difficulty.
- dragonwriter 10y ago> If it was easy to cheat, someone would claim the public bug bounty by giving themselves all the coins. But giving yourself all the coins means demonstrates that the system doesn't work conclusively, and guarantees that no one will accept the coins for goods and services, so while giving yourself "all the coins" destroys a lot of value, it doesn't actually capture any value. So, if you wanted to profit from an exploit you developed, you would not do that (if you wanted to discredit bitcoin and had developed the exploit, you would do that.)
- EdHominem 10y agoRight, they'd trickle them in to keep it secret. But that doesn't change the bug-bounty nature.
- dragonwriter 10y agoIt changes the (paraphrased) "we can tell its secure because no one has visibly compromised for profit it the way they would if they could" nature you suggested uphtread, because, for profit, you would avoid visibly compromising it.