Why bitcoin isn't going to make it: The National Security Agency - page 3.

The Fool

newbie

Activity: 56

Merit: 0

Quote from: Dayofswords on February 18, 2013, 05:26:59 AM

Quote from: The Fool on February 18, 2013, 04:47:13 AM

Quote from: Lethn on February 18, 2013, 04:44:46 AM

They could only take over Bitcoin if it was owned by one person, but the code is open source and distributed everywhere, Bitcoin supporters already won long term ages ago and they can't do anything about it.

I don't think you understand cryptography.

Unless NSA has figured something no one else in the world has, then SHA2 is reasonably safe

Exactly what I am implying and it isn't unreasonable either considering their budget is classified and their offices clog traffic considerably.

Dayofswords

member

Activity: 138

Merit: 11

Exchange BTC in Telegram https://bit.ly/2MEfiw8

Quote from: The Fool on February 18, 2013, 04:47:13 AM

Quote from: Lethn on February 18, 2013, 04:44:46 AM

They could only take over Bitcoin if it was owned by one person, but the code is open source and distributed everywhere, Bitcoin supporters already won long term ages ago and they can't do anything about it.

I don't think you understand cryptography.

I dont think you do either. Unless NSA has figured something no one else in the world has, then SHA2 is reasonably safe

Even then, this has been considered and bitcoin can move to another crypto https://en.bitcoin.it/wiki/Weaknesses#Breaking_the_cryptography satoshi himself mentioned it could be done, but he did say that 3 years ago.

The Fool

newbie

Activity: 56

Merit: 0

Quote from: Akka on February 18, 2013, 05:09:57 AM

Quote from: The Fool on February 18, 2013, 04:47:13 AM

I don't think you understand cryptography. If both SHA256 and ECSDA are compromised, funds can be shifted around at will irregardless of the true owners. All private keys would be open to anyone who knows the hack.

A cryptographic method usually doesn't get compromised they way that you can just create the private key by knowing the public key. Maybe at some point there will be some algorithms that greatly reduce the possibility for a private key if you now the public one. Even if someone finds such a solution that would decrease the possibility for the private key by the factor 1,000,000 that would still mean the average "cracking" would still need a few thousand (million?) years. Plenty of Time to switch to a new solution.

Well, I'm implying it may already be compromised by the enormous amount of resources the NSA has in talent, hardware and other technology. I am not even talking strictly about bruteforce but rather inherent flaws that have always existed.

Anyways, we should look at rejected algorithims when it comes to new solutions. The NIST got really nervous about anything "too exceptional" in their competition.

http://en.wikipedia.org/wiki/NIST_hash_function_competition#Entrants

Akka

legendary

Activity: 1232

Merit: 1001

Quote from: The Fool on February 18, 2013, 04:47:13 AM

I don't think you understand cryptography. If both SHA256 and ECSDA are compromised, funds can be shifted around at will irregardless of the true owners. All private keys would be open to anyone who knows the hack.

A cryptographic method usually doesn't get compromised they way that you can just create the private key by knowing the public key. Maybe at some point there will be some algorithms that greatly reduce the possibility for a private key if you now the public one. Even if someone finds such a solution that would decrease the possibility for the private key by the factor 1,000,000 that would still mean the average "cracking" would still need a few thousand (million?) years. Plenty of Time to switch to a new solution.

Lethn

legendary

Activity: 1540

Merit: 1000

I don't understand cryptography lol but I understand open source, what's to stop someone from making something entirely new that NSA can't touch? While I can understand the fear I am also very skeptical because a lot of the people who work in government are, lets face it, old white people who couldn't open up a word document without any help.

Never underestimate the intellectual capacity of an angry child with an internet connection and a keyboard.

The Fool

newbie

Activity: 56

Merit: 0

Quote from: notig on February 18, 2013, 04:45:30 AM

I'm skeptical of that. I think we should fear what the government will do but them outsmarting us is not the method I was actually fearing.

It's not even actual intellect these agencies are utilizing: It's control over the world's resources and information. They take. They do not usually create. They see a man with potential, they see his ideas and they snatch him before he can work for anyone else using limitless government funding.

The Fool

newbie

Activity: 56

Merit: 0

Quote from: Lethn on February 18, 2013, 04:44:46 AM

They could only take over Bitcoin if it was owned by one person, but the code is open source and distributed everywhere, Bitcoin supporters already won long term ages ago and they can't do anything about it.

I don't think you understand cryptography. If both SHA256 and ECSDA are compromised, funds can be shifted around at will irregardless of the true owners. All private keys would be open to anyone who knows the hack.

notig

sr. member

Activity: 294

Merit: 250

I'm skeptical of that. I think we should fear what the government will do but them outsmarting us is not the method I was actually fearing.

Lethn

legendary

Activity: 1540

Merit: 1000

They could only take over Bitcoin if it was owned by one person, but the code is open source and distributed everywhere, Bitcoin supporters already won long term ages ago and they can't do anything about it.

The Fool

newbie

Activity: 56

Merit: 0

They created SHA256 and they likely have a hold on ECDSA. Historically, they have had a hold on cryptography by over 20 years in future technology. They usurp almost all cryptography talent and beyond before the private sector can even touch it. My gut tells me the NSA already has exploits into all the technologies bitcoin utilizes. I think we're fucked for now. Cryptocurrency may not die as an idea but bitcoin may fall before it can truly succeed.

In order for cryptocurrency to work we need a thriving, free civilization with no hegemony that usurps most R&D and capital. We need the latest and greatest cryptography and we just don't have it.

Bitcoin as it stands may just turn into a fringe money laundering operation for the CIA and NSA before it no longer serves its purpose.

Topic: Why bitcoin isn't going to make it: The National Security Agency - page 3. (Read 4169 times)