If the algorithm is cracked, it means that it is entirely possible for an individual’s private key to be cracked out in reverse.
Bitcoin’s value comes from consensus, and it is difficult to reach consensus in the face of a major adjustment, which has led to the emergence of many forked coins.
If the algorithm predictably faces the risk of being cracked, but whether it will actually be cracked is still up in the air, then whether or not to upgrade the algorithm and what algorithm to use is bound to be controversial, and a fork is the inevitable result. Even the basic algorithm has been changed, who dares to say that they are orthodox?
A centralized system can quickly backfile and upgrade its algorithm even if it is attacked, but can Bitcoin?
The Bitcoin private key is not the SHA256 algorithm, it is the ECC algorithm.
SHA256 is used for mining.
If you crack SHA256, that means you’re already financially free, so why would you want to kill Bitcoin?
You only need to “announce” that you have mined a block in 8-9 minutes, so the reward will be yours, and your net income will be ≈ 20,000 x 6.25 x 6 x 24 = $18 million per day.
But it’s best not to let all of them be mined by you alone, as that will soon be suspected. The result of suspicion is that the price of the coin falls sharply to your detriment to ship. It’s better to mine only 1/10th of it, last for a while, sell your bitcoins, and consider announcing your attack algorithm when your assets are over 100 million.
A final refresher on an old man’s statement.
Science and technology is the first productive force!
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