/biz/ - Business & Finance

>>25060839
Also, even if some nation-state DID have the ability to "break" elliptic curve cryptography, why would they waste that opportunity on fucking crypto?

If a nation-state had the overwhelming resources to break asymmetric elliptic curve encryption why would they waste their one-shot on trying to double-spend some internet money in a tiny $300bil market when a bomb like that could be deployed somewhere more relevant like the global eurodollar bond market or SWIFT.

It's like when they broke the enigma machine, and then couldn't just use it to compromise everything right away because then the Nazis would realize it and change communication methods. If some nation-state successfully performed a double spend, the guy who gets screwed over would immediately know about it, the entire crypto community would know about it because it's a public fucking ledger, and the entire community would come together and switch algorithms to something of higher bits or quantum-resistant, of which plenty of algorithms already exist and are always improving. Why would you blow your load like that on Bitcoin rather than use it to secretly monitor encrypted traffic all over the world?

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