When I first heard about the Large Bitcoin Collider my initial thoughts were dismissive and I quickly ignored it.

But then I realized that if it actually could work, then a whole lot of people were going to lose a whole lot of money.

I took a closer look at it, and this is what I discovered about the Large Bitcoin Collider...

What exactly is the Large Bitcoin Collider?

Let's start with what it isn't.  The large bitcoin collider is actually NOT a large bitcoin collider.

Despite the developers claims, it's not really colliding (breaking into) any real bitcoin wallets.

The LBC Project is only pretending to search for bitcoin wallets.  But, why would they do that?

Probably because their software is a Remote Execution RootKit.  They even admit that in their documentation.

For those who don't know, a RootKit is something very bad that very mean hackers put on other people's computers.

Hackers do that so they can take control of those computers and do whatever they want with them (like more hacking).

Now, I don't know exactly what the LBC is really doing with all those computers, but I'm sure it's not bitcoin collisions.

Can I prove it mathematically?

Absolutely!  The proof is in their own documentation.  They say at the very end of the last page in their manual (literally in the very last paragraph):

 ...the first 96 bits of the PK being 0...

In other words, the first 96 bits of all their private-key searches are just zeros.  (In theory, they could collide with a wallet at that level, but it would have to of been placed there on purpose with custom software written specifically just for that.  There are no bitcoin wallet programs that generate private keys with such a low level of entropy!)

To compare, this is an example of what a normal private key might sort of look like (this is't a real key, just a long random number):

4894514514511011018178019441174110171145147435125068465814654151461425151145514652141452145656225

And this is an example of what the Large Bitcoin Collider is searching:

000000000000000000000000000000000000000000000000000000000000000000000000012487562475

Do you see what I mean?  That's like taking a snorkel and trying to convince someone that it's a submarine.  Or taking a paper airplane and calling it an intergalactic space ship.

Even if every computer on Earth was running their program, it still wouldn't come close to finding a real private key.

However, the developer who created the Large Bitcoin Collider has admittedly planted many fake bitcoin wallets in its path with very little BTC in them, just to show that it 'works'.

If you're rolling on the floor laughing right now, you're not alone.

Why would anybody do all that for nothing?

The LBC developer is obviously aware of the projects severe limitations, so why would they put so much work into it?

I'll try to list a few of my favorite possible explanations here:

• The LBC may have been developed by a law enforcement agency (or something along those lines).  Their goal would most likely be to collect the IP addresses, and thus the Identities, of people who might be hackers, thieves, or worse.  This is what is usually referred to as a "fishing expedition".
• The LBC may have been developed by a hacker, or a thief, or worse.  Their motivation would most likely be greed, and the computers running their software probably really are stealing from people.  But they would just be doing it with more conventional hacking techniques, instead of the less-likely bitcoin collision cover story.
• The LBC may have been developed by someone who truly believes that some day bitcoin collisions will be a feasible way of stealing money.  Or maybe they want to raise awareness about the collision issue before it becomes a real possibility in hopes that the bitcoin developers can fix the issue... OR maybe the LBC was developed by The Singularity, an artificial intelligence that wants more computing power so it can take over the world and enslave humanity!

So then why all the hype?

The hype is a different story all together.  You see, there's a lot of investors out there who want the price of bitcoin to go down in the short-term so that they can buy more of it for the long-term.  Mainstream investors have ignored Bitcoin until recently, and now they regret not buying at a lower price.  That means there are a whole lot of very rich people out there who want you to believe (at least for now) that Bitcoins are insecure, or that you could lose them to theft, or some other nonsense.  Because all that fear, uncertainty, and doubt is what keeps the value of Bitcoins from going up even higher.

You see, the folks calling bitcoin a bubble or saying it'll collapse are the same people who will try to sell you their bitcoins later on at a much, much higher price.

It's sort of like how whenever the price of gold gets really high there's always more commercials on TV telling you to "buy gold".  (Pro Tip: You're supposed to Buy Low and Sell High!)  The people who make those commercials are hoping you'll buy their gold because they really want to sell a lot of it for that high price.  They don't care if you lose money, that's how they make a profit!

That's the exact same thing that's going on with Bitcoin, except instead of crooks telling people to buy high for stupid reasons, they're trying to convince us to sell low for stupid reasons.  They know full well that Bitcoins are very secure and going up in value in the long term, that's the reason why they want to buy them from us at the lowest possible price.  The'll tell you that Bitcoins are just a fad, but remember, money never goes out of style!

Let's face it

• Some investors are basically like sharks and they would tell you anything if it meant more profit for them.
• There's no such thing as a bitcoin collider.  But there are rootkits and botnets and liars in the real world.
• The level of computer security backing bitcoin is way more advanced than anything your local bank is using.

Thank you for reading my article.  I would really appreciate it if you would UpVote and Follow me!