I thought application-specific integrated circuits (ASICs) could be built and programmed to run any specific tasks . ie. Solving a Rubik's Cube, or trying every combination of a safe (or digital wallet).
Yes, but for how long?
The note was posted for illustrating the exponential increase of security from 12 to 24 seed words.
The beauty of the Bitcoin difficulty adjustment is that it increased as hashpower increases... currently about 350 Exahashes per second.
How long before a supercluster of ASICs is powerful enough to brute-force open a wallet with just 12 seed words?
10 years? 50 years? 100+ years? Who knows?
If a computer was powerful enough to brute-force open a Bitcoin wallet with 12 seed words in just 1 second (trying 2,048¹² combinations)...
Then that same computer would take over 5 trillion trillion trillion years to brute-force 24 seed words (trying 2,048²⁴ combinations).
If a supercomputer was able to brute-force attack 12 seed words in just 1 second, then that same supercomputer would take 5,000,000,000,000,000,000,000,000,000,000,000,000,000 years to brute-force attack 24 seed words.
#Bitcoin
BitPLATES Domino plates can store up to 24 seed words (12 words per side), so if you want to use 12, 15, 18, 21 or 24 seed words to create a Bitcoin wallet, it's entirely up to you. 😎
Keep Bitcoin simple...
Seed words = Distress wallet
Passphrase(s) = Main wallet(s)
Shorter passphrases can be memorized for low value storage.
Longer passphrases should be backed-up for larger value storage.
Know your wallet strength.
https://www.bitplates.com/how-secure-is-your-passphrase
Bitcoin is...
Trustless
(if you have self-custody)
Limited in supply
(if you have self-custody)
Censorship-resistant
(if you have self-custody)
Unconfiscatable
(if you have self-custody)
Decentralised
(if you have self-custody)
When backing up Bitcoin seed words or passphrases for your wallet/signing device:
1. Do NOT take photos of the words on your phone or PC
2. Do NOT type the words onto a standard PC keyboard
3. Do NOT say the words out loud near any electronic devices
4. DO have metal backups
Bitcoin won't upend the world's financial system...
But it will be there for us when the system upends itself.
If your nsec (Nostr private key) is ever compromised, someone else could pose as you.
Does anyone know how to fix this? Can the account be bricked, or access regained somehow?
Eventually Bitcoin will be:
$0.00, £0.00, €0.00, ¥0.00...
ie. No-one will want to sell their Bitcoin for any amount of fiat.
Im testing the maximum limit for zapping... Could someone send me 100,000,000 sats to see if that works? 😜
Cash is coming to an end, and very soon the people are going to have to choose their new money:
1. A state-controlled digital currency
2. A free open source decentralised censorship-resistant money
How many will choose freedom?
#Bitcoin
Always remember, Bitcoin is an existential threat to central banks, and they have a bottomless pit of fiat money to fund the most widespread, subtle, and devious FUD against Bitcoin.
Be on your guard. 👀
I've been doing it for years with multiple copies of seed words and passphrases all in separate geographical locations (even in different countries) 😉.
I'm all good, with multiple opportunities to recover if any one, two, or three is lost or stolen.
No-one can access funds with only seed words, or only passphrase. 👍
eg. Seed words in 3-5 separate locations
Passphrase in 3-5 separate locations
If any one is discovered, they can't be used to access the wallet.
Not if you have multiple backups.
Your Bitcoin private key can be separated into two parts:
1. Seed words (backed up on one plate)
2. Passphrase (on another plate)
NB. Store both parts in separate locations, because no-one can access the wallet without access to both parts of the key.
