Other thing that occurred to me is at some point — I don’t know when — there will be a gold rush for lost bitcoins. Processors will eventually be invented that guess random seed words not to mine a block but to find a key.
Discussion
I remember reading that this will probably be a good indication that quantum computers finally exist - old P2PK coins start moving
Probably, that's one of the advantages of using a high entropy BIP39 passphrase. You might guess one. But you won't guess both..🧡😊
Using a passphrase + your private key just means you use some other private key which is derived from the pair.
I see it as a 2-of-2 miltisig kind.
Once sha-256 algorithm breaks developers will rework the network to sha-512 or something a little stronger rhan sha-256. Satoshi left us options for the future attacks
Don't remember where I read some estimates of randomly guessing seeds.
Even if your guessing maschine is 100% effective(you assume that while calculating all the energy goes to changing a transistors' state with 0 heat production) there's simply not enough energy in the Milky Way galaxy to go through.
Don't remember exact numbers, just the idea.
yeah, it's 1 in 2 ^256 which is about 10 ^ 77. So, yes, using current technology it’s too big.