Thursday, August 14, 2014

VERY Simple explanation why SHA-256 has nothing to do with NSA


The basis for security of your funds in Bitcoin is not SHA-256, but ECDSA. The ECDSA is mathematical open source algorhythm which has nothing to do with NSA - if you're not dumb, you can even calculate your OpenKey / PrivateKey function using a calculator without trusting any program, watch this Public Key Cryptography: Diffie-Hellman Key Exchange You're wrong about SHA-256 too because anyone can see the code too, but even if SHA-256 is vulnerable all NSA will be able to do, is make emission for last remaining 8 million coins (21 minus 13 existing) - which won't mean anything for the economy, I'm not considering double-spending abilities here because its unlikely that NSA will hustle for some small amounts of money for such attack being planned - plus double-spending if occurs, it will never touch my savings anyway.

ECDSA - your personal security (nobody can take away your funds from you)
SHA-256 - security of emission, security from double-spends. You can't control all the funds in the network by making SHA-256 vulnerable. So stop bullying Bitcoin for non-existent dark matters, its really stoopid.

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