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let me get this straight: People use supercomputers to solve math problems with 64 digit answers and who ever solves it first gets a bitcoin as a prize? Thats how bitcoins get created?
1 posted on 03/14/2021 3:43:33 AM PDT by blueplum
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To: blueplum
let me get this straight: People use supercomputers to solve math problems with 64 digit answers and who ever solves it first gets a bitcoin as a prize? Thats how bitcoins get created?

I know it sounds weird, but that's really it in a massively simplified nutshell.

Almost all modern cryptography is based on prime numbers. Bitcoin leverages this a bit. It's more complicated than just primes, but a pair of very large primes are the heart of it.

To give you a small idea of the difference between factoring the larger numbers, take a look at this quick and dirty example...

$ time factor 8958200452356091
8958200452356091: 8958200452356091

real    0m0.003s
user    0m0.002s
sys     0m0.000s

$ time factor 258285118849492814941
258285118849492814941: 258285118849492814941

real    0m0.003s
user    0m0.002s
sys     0m0.000s

$ time factor 2313769868514373261031453299297155631
2313769868514373261031453299297155631: 8958200452356091 258285118849492814941

real    0m7.087s
user    0m7.084s
sys     0m0.004s

The above is from a Linux computer that has the 'factor' program installed, which will factor rather large numbers fairly quickly. The number to look at in each of the 3 examples is the one after 'real'. So, I was able to test the primality of the first two numbers very quickly. (.003 seconds for each). However, attempting to factor the much larger 3rd number, which was generated by simply multiplying the smaller two numbers, you can see that the time increases by several orders of magnitude.

I was going to do a bigger example, For instance, 325928985563371356674384180771539 * 6663742992756402236816080367 = 2171906993684118463655790070573355681075427646504235890274813. However, I kicked that off over 2 hours ago, and it's still chewing on that 61 digit number. I'm actually kind of interested to see how long it will actually take.

The reason that primes are important is that there are tricks you can use to determine primality, but actually factoring a number is 'hard' from a mathematical standpoint. There are some shortcuts you can take, i.e., all prime numbers are odd, so you don't need to test those, which actually gets rid of half of the work. When numbers get really large, it takes a boatload of computational time to actually do the factoring. Almost all public-key cryptography is based on this hardness problem, among other things.

This is why I understand the concept of crypto currencies and crypto mining, and can see how you could monitize it to a certain degree. Really though, since there is no army backing the currency, it's 'value' is somewhat arbitrary. I wouldn't be at all surprised if BTC someday replaced tulips as a cautionary tale about the Madness of Crowds.

53 posted on 03/14/2021 1:54:16 PM PDT by zeugma (Stop deluding yourself that America is still a free country.)
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To: blueplum

They love using non existent problems to try to control people.


55 posted on 03/14/2021 2:02:54 PM PDT by Trillian
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