Post
Topic
Board Bitcoin Discussion
Re: Bitcoin cryptography.
by
MikeCorleone
on 12/04/2015, 12:39:14 UTC
There have been enough computer scientists and researchers that have looked over Bitcoin's theory and cryptography and code in the past 6 years. If it was a problem they would've said something already :-)
There's nothing to "crack" about the BTC code... again, at the end of the day it all comes down to cracking the cryptographic algorithm which is simply ridiculous. If someone cracked SHA256, it would be a global catastrophe, since endless security is based around SHA256.

I don't see him mentioning anything about cracking the BTC code, and your answer is very incorrect. SHA256 can be fine as an algorithm, and secp256k1 can be fine as a curve, but Bitcoin's implementation of both of those could be flawed.

Let's not forget that someone did legitimately create 184 billion Bitcoin in a single block in 2010, and the network had to be patched (resulting in a short-lived fork).

The Bitcoin wiki has a good article covering OP's concerns: https://en.bitcoin.it/wiki/Weaknesses