Interesting comment in Wolf Street.
1.) SECP266K1 the algo used for the keys of bitcoin was developed by the NSA. SecP256k1 is an elliptic-curve, a very particular curve that was engineered by the NSA and nobody really knows its propertys, like how many master keys it might contain.
2.) The encryption of the public-addresses used in bitcoin, and its every ten-minute block algo is SHA-256, another NSA creation, again this hashing ALGO is an unknown.
If you know your history, then you know that every ALGO every released by NSA since the 1950’s ( think DES ), has had a NSA backdoor, they don’t take their stuff public, unless they hold back-door keys.
Now jump ahead some 15 years ago an NSA gate-keeper name Satoshi dumps the code in public, using the same white-paper that the NSA had released earlier in 1997 called “A new digital currency”.
Now for all those on the band-wagon, this is not going to end well, as its only a matter of time before kids in India are cracking the Sec256kp1 curve, and Sha256. Now that poor-mans quantum computers are becoming real, this stuff is going to be quite common. This is ok, because once the public can crack these NSA algo’s, then the NSA will come out with 512 bit algo’s, as they always have a solution in the waiting to a current crisis.
MIT already had all of the worked out in the 90s, thanks to the collab they did with the NSA.
Meet Tatsuaki Okamoto, alias Satoshi Nakamoto and NSA gate-keeper
7. Tony Eng and Tatsuaki Okamoto, Single-Term Divisible Electronic Coins, Advances in Cryptology EUROCRYPT ’94, Springer-Verlag, pp. 311-323.
11. Tatsuaki Okamoto, An Efficient Divisible Electronic Cash Scheme, Advances in Cryptology – CRYPTO ’95, Springer-Verlag, pp. 438-451.
12. Tatsuaki Okamoto and Kazuo Ohta, Universal Electronic Cash,
Advances in Cryptology – CRYPTO ’91, Springer-Verlag, pp. 324-337.
I suspect Bitcoin was the test run. One of the leading cryptography experts involved is named ‘Tatsuaki Okamoto’. Sound sorta familiar?: