Friday, October 20, 2017

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"NSA Can't Crack Anything" - Despite what the Feds claim, Bitcoin's ultra safe

on in Bitcoin Minute

World Bitcoin Network

In an overly sensationalistic piece yesterday, the New York Times reveled more about the level of NSAs commitment to prying into the lives of Americans.
This time, though the Times news agency, long suspect on technical matters, fell for NSA's own leaked bragadoccio.
In an internal document leaked by Snowden, the NSA claims to have cracked a number of forms of cryptography.
But this is where anyone familiar with cryptography takes issue. Cryptographers, a very small population indeed, took to the airwaves to note the ridiculous errors of the Times piece.
One wrote:
"Nobody, not even the NSA can arbitrarily crack anything.
Even if the NSA set every computer on the planet to work on brute-forcing an encrypted message, it would take millions of years."
He goes further.
"Instead, the NSA breaks in through less magical means, like demanding that data be handed over, stealing a key from a user, even having agents who physically pilfer data"
This is confirmed in a much more nuanced piece by Wired.
Wired states that the NSA cannot crack the algorithms that protect data, instead the Government organization relies on mobster-type tactics.
They pressure vendors, steal passwords and bully.
In fact both Wired and the Guardian covered the story without the confusion and fear mongering of the New York Times, with neither one suggesting that any modern cryptographic algorithms have been cracked.
For Bitcoin users this news will come as a relief.
Indeed, Bitcoin uses one of the most famous bits of cryptography, SHA. And SHA stands for Secure Hash Algorithm.
It is not only still secure today, it seems likely to be secure for a few million more years.
Still, ignoring the New York Times poor journalism, these new NSA revelations do matter.
We now know that Big Brother is doing doing much more than just watching.
As a result, we'll offer two words of advice for your bitcoins.
Cold Storage.

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