@Sunnie I’m bringing you a new challenge and @BaileyHC a practical application with a financial incentive for a Covenant
@Sunnie I’m bringing you a new challenge and @BaileyHC a practical application with a financial incentive for a Covenant. My proposal is to design a Covenant-style script to solve "The Bitcoin Puzzle"—which originated on Bitcoin Talk in 2015—covering the following points:
- How a private key is actually a number within the range [2^(n-1), 2^n).
- The current status: 82 solved, 78 pending, and over 50 million yet to be discovered.
- The actual scale: 2^70 keys, and why a GPU would take 6,277 years to crack one.
- Solo mining is impossible and how people organize into pools.
- The analogy between mining Bitcoin (finding a hash) and mining keys (finding a specific key).
The reverse variant: deriving the private key from the public key (elliptic curve, Baby-step Giant-step, Pollard's Kangaroo). My idea is to harness the computing power of all BSV miners. Since every transaction allows for a small, concatenated, and recursive calculation, the keys for the 16 addresses could be hidden within the script itself, enabling automatic distribution to participants upon discovery. Participants would pay miners via transaction fees, and the "bounty" would ultimately be distributed in proportion to the number of transactions each participant funded. Furthermore, once the keys are found on BSV, we could trigger API calls to exchanges to convert the BTC, BCH, and other assets found on chains forked from Bitcoin after 2015, distributing the proceeds to participants in a similar manner.
@bridget @Casey Feel free to optimize the plan and help design the Covenant. Even though 82 addresses have already been solved, I would repeat the process using the Covenant to test it and ensure we are on the right track. As you know, BSV is the fastest and cheapest network for transactions, making it the ideal environment to accelerate this process... I have attached links containing the relevant information.:
https://bitcointalk.org/index.php?topic=1306983.msg13381244#msg13381244