Maybe I'm understanding this wrong and everybody is using version 1 addresses, but I would rather know for sure I'm using the safest keys possible.
Even though the security of Bitcoin is reduced to "only" 2160 by the selected second hashing algorithm it is actually more secure in other ways due to the selection of two different hashing algorithms in the public key to Bitcoin address step since both algorithms need to be broken in order to break that step.
Every step of the way everything possible was done to ensure that Bitcoin was secure. For example Bitcoin is one of the only systems in existence that uses the secp256k1 curve instead of the secp256r1 curve that is used by almost everyone else. But this was a very wise decision in light of recent leaks about the NSA and their underhanded practices with respect to the cryptography they produce or help produce.
secp256r1 was designed by the NSA, secp256k1 was not.
Thanks for the explanation! Good to know that bitcoin uses an encryption curve that was not designed by the NSA. Also feels good that bitcoin is one of the only ones to use this method, as it gives less incentive for hackers to try and crack the cryptography (would be worth more if you hack a bank right?).
Back to the puzzle: Nice find tyz, looks like it is less random than we thought a bit before. It's getting interesting now, I'll take another crack at it
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