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Another thought: you can be reasonably sure SHA-256 isn't broken because Bitcoin essentially put out a bounty for it.
by dehrmann 5y ago
Another thought: you can be reasonably sure SHA-256 isn't broken because Bitcoin essentially put out a bounty for it.
- bowmessage 5y agohard to say, because attempting to cash in on your new-found SHA-256 exploit by mining a ton of blocks could quickly tip off others and tank the price of Bitcoin. Better to sit on the exploit and wait until you can break ECDSA too, run off with Satoshi's private key 8-).
- onion2k 5y agohard to say, because attempting to cash in on your new-found SHA-256 exploit by mining a ton of blocks could quickly tip off others and tank the price of Bitcoin So short BTC rather than invest in it, and then do it. Besides, there are plenty of people who would tank BTC just for fun, or to prove its bad somehow, or just to annoy the Winklevoss twins...
- bowmessage 5y agoGood point, but there could be even more money in calmly 'mining' away at a realistic rate. Definitely more excitement in upsetting some major stakeholders, though.
- 0des 5y agoBut the issue is we know who the main top 6 miners are, and they're all known farms and pools. We know that's not true otherwise there would be some little guy with giga hashrate suspiciously still mining blocks. It wouldn't be hard to spot from a mile away.
- deleted 5y ago[deleted]
- iLoveOncall 5y ago> run off with Satoshi's private key I'm pretty sure ANY movement on that stash would lead to an amazing drop in price too.
- vmception 5y agosort of, its a prisoner's dilemma even if you had the theoretical quantum computer with enough qubits to derive private keys, you would be better off just taking some people's coins or transactions so that people will victim blame them based on assuming they have poor OPSEC instead of tipping off that the system is compromised