SHA256 was originally made by the government, nsa specifically.
SHA256 was chosen because it was the lesser popular algo at the time, and the other one had suspected backdoors
SHA256 cannot be broken at this time
SHA256 has no backdoors, it's opensource, feel free to check for yourself
Topic: Bitcoin cryptography. - page 2. (Read 1227 times)
I am not a techy guy but from what I could see isn't Bitcoin's source code open? Everyone can look into it and see if there is any weird triggers or algorithms are rigged or something. So I imagine that multiple very knowledgeable tech brains looked already into it and confirmed that indeed bitcoin's code is pure and won't backfire in the future.
I've meant to look deep into this for a long time, but haven't gotten around to it. I'm a big bitcoin supporter, but anyway there's a small voice in the back of my head that have some concerns. I don't expect anyone to do all the research for me, but if there's some valid work done by crypto experts, I'm interested in learning about it.
Is the crypto that bitcoin uses 100% safe? In the sense that there's no backdoors and no ability for any entity to seize funds?
There's some background info here:
http://blog.ezyang.com/2011/06/the-cryptography-of-bitcoin/
SHA-256, RIPEMD-160 and Elliptic Curve DSA is mentioned here.
Now, obviously, I don't have the knowhow to judge whether everything's "safe", as I'm no crypto-expert. But I assume there's many crypto experts that have already looked deeply into the crypto used in bitcoin and have reached some conclusions that tech-heads with less crypto knowledge can use as a guide.
So my questions would be:
- Can all crypto used in bitcoin be 100% trusted? If so, what are the arguments for this?
- Who made the crypto- algorithms that is used in bitcoin? If these are made by govt. entities is it not reasonable to expect that there's backdoors? If not, why?
- Forgive me my limited understanding, but given you assemble the brightest minds in maths and crypto, as the government funded agencies do, would they not be able to come up with sneaky solutions that would not be detected by independent crypto researchers? Ie. could a crypto-method be declared safe, and yet contain some kind of backdoor?
- Would govt. agencies create unbreakable crypto? And if so why, as it could also be used against themselves. But this is a two edged sword as safety (protection from prying eyes) could only be ensured if the crypto is unbreakable, because if entity A can break a crypto algorithm, so can entity B.
Let's assume that Satoshi's invention is genuine and we have nothing to fear, that's fine - however if the opposite is the case, and we know how important it is to control the money of a state, could it happen that the one who controlled bitcoin would also control its users? Comply, or else you will lose your coins.. It would not only be a monetary loss if coins could be controlled remotely, but also a severe confidence blow to the entire network.
So in short, what guarantees does any business or private entity have that his coins are indeed secured by math and untouchable by man?
Is the crypto that bitcoin uses 100% safe? In the sense that there's no backdoors and no ability for any entity to seize funds?
There's some background info here:
http://blog.ezyang.com/2011/06/the-cryptography-of-bitcoin/
SHA-256, RIPEMD-160 and Elliptic Curve DSA is mentioned here.
Now, obviously, I don't have the knowhow to judge whether everything's "safe", as I'm no crypto-expert. But I assume there's many crypto experts that have already looked deeply into the crypto used in bitcoin and have reached some conclusions that tech-heads with less crypto knowledge can use as a guide.
So my questions would be:
- Can all crypto used in bitcoin be 100% trusted? If so, what are the arguments for this?
- Who made the crypto- algorithms that is used in bitcoin? If these are made by govt. entities is it not reasonable to expect that there's backdoors? If not, why?
- Forgive me my limited understanding, but given you assemble the brightest minds in maths and crypto, as the government funded agencies do, would they not be able to come up with sneaky solutions that would not be detected by independent crypto researchers? Ie. could a crypto-method be declared safe, and yet contain some kind of backdoor?
- Would govt. agencies create unbreakable crypto? And if so why, as it could also be used against themselves. But this is a two edged sword as safety (protection from prying eyes) could only be ensured if the crypto is unbreakable, because if entity A can break a crypto algorithm, so can entity B.
Let's assume that Satoshi's invention is genuine and we have nothing to fear, that's fine - however if the opposite is the case, and we know how important it is to control the money of a state, could it happen that the one who controlled bitcoin would also control its users? Comply, or else you will lose your coins.. It would not only be a monetary loss if coins could be controlled remotely, but also a severe confidence blow to the entire network.
So in short, what guarantees does any business or private entity have that his coins are indeed secured by math and untouchable by man?
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