A Private Key Is Just A Number
Every bitcoin is guarded by a number. Here is what that number is, how it turns into an address, and why the board keeps throwing them away.
Short reads on the cryptography behind the numbers on the board, and on just how hopeless guessing a key really is.

Every bitcoin is guarded by a number. Here is what that number is, how it turns into an address, and why the board keeps throwing them away.
The number of possible keys, the number of possible addresses, and what the chance per key on the board actually measures.
A laptop tries a hundred thousand keys a second. A data centre tries more. Here is why no amount of hardware gets the wait below the age of the universe.
The birthday paradox says coincidences come sooner than you think. Here is how much sooner, and why it still does not reach anyone’s wallet.
Coins do get stolen. Never by guessing a random key. Here is what goes wrong instead, and what it means for anyone holding bitcoin.