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Thread: Bitcoin 'Conspiracy Theory' Alleges Virtual Currency is NSA or CIA Project

  1. #1

    Bitcoin 'Conspiracy Theory' Alleges Virtual Currency is NSA or CIA Project

    http://www.ibtimes.co.uk/bitcoin-sus...roject-1460439

    Digital currency bitcoin, which has experienced sudden growth in terms of usage and value, has been criticised by many and some have labelled it as a ponzi scheme.

    Given its alleged use in drug trafficking, money laundering, terrorist financing and other anti-social activities, a number of states across the globe have warned consumers about the risks involved in relying on and using the decentralised money.

    Now, a group that claims to track the activities of government organisations around the globe alleges that the popular cryptocurrency is a project run by the US National Security Agency (NSA), whose reputation has been hit by the revelations made by whistleblower Edward Snowden.

    The group, named CIA Project, claims that bitcoin is made by the NSA or the CIA. However, the 'evidences' the group presents lack depth, potentially making it a conspiracy theory.

    CIA Project's main proof revolves around the name of bitcoin's alleged creator, Satoshi Nakamoto. The group says a white paper on bitcoin was released in 2008, and it was reportedly written by a person named Satoshi Nakamoto, which roughly means "Central Intelligence" in Japanese.

    The team added that Bitcoin Forum, a bitcoin community where Nakamoto used to communicate, usually removes posts connecting bitcoin with CIA.

    Raising suspicions about his identity, Nakamoto has never left even a single personal identification clue in his numerous posts on Bitcoin Forum over the years. CIA Project alleges that this shows 'intelligence training'.

    In addition, Gavin Bell (aka Gavin Andresen), who is the public face of bitcoin, claims that he has been communicating with Nakamoto for many years. However, Gavin has neither met Nakamoto nor spoken with him on the phone even once.

    Nevertheless, the anonymity of the alleged bitcoin creator, Nakamoto, cannot be viewed a valid point to base the claim. In addition, Nakamoto is a common Japanese name, and the group's arrived translation is coincidental.

    Another evidence the group is trying to bring is related to the source code of the digital currency.

    It says the common programme used by most cryptocurrencies to create secure keys is suspected to be back-doored by the NSA, citing a "recent WikiLeaks document".

    Bitcoin did not use the most popular programme to create secure keys, and the fact shows that the NSA already had full information about bitcoin, according to the group.

    "While bitcoin believers portray bitcoin as a new decentralised currency, the command structure of bitcoin core development is 100% centralised," CIA Project says.

    The claim could be refuted as bitcoin's source code is open source, and therefore the NSA need not put a back door in the code. The programme that bitcoin uses to secure transactions, SHA-256, is created by the NSA. The open source programme is said to be one of the most secure algorithms in the world.

    The article was updated on 11 August.

    -t



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  3. #2
    I find some of these assumptions silly.

    - It wouldn't take intelligence training to not leave a digital footprint for posting on forums and using open email systems.

    - Many many projects involve working with someone you've never met. The open source world is full of examples of this

    - openSSL may be backdoored . There was the nasty 0 day flaw that caused a lot of headaches. However this has also led to some very intense scrutiny. If there was a deliberate backdoor it will be found.

    - SHA-256 has been looked over for years without any flaw found. If openssl or SHA has been broken then forget bitcoin, the entire encrypted internet including banks, credit cards, stock markets are at risk.
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

    BTC: 1AFbCLYU3G1dkbsSJnk3spWeEwpqYVC2Pq

  4. #3
    Bitcoin is the worlds largest open-source R&D project with 10,000 of the brightest minds contributing to its protocol which has been running for well over 5 years.

    Who has two thumbs and is not worried?

    <<< This guy.

  5. #4
    Quote Originally Posted by tangent4ronpaul View Post
    CIA Project's main proof revolves around the name of bitcoin's alleged creator, Satoshi Nakamoto. The group says a white paper on bitcoin was released in 2008, and it was reportedly written by a person named Satoshi Nakamoto, which roughly means "Central Intelligence" in Japanese.
    Writes article, doesn't research truth value of claim.

    It says the common programme used by most cryptocurrencies to create secure keys is suspected to be back-doored by the NSA, citing a "recent WikiLeaks document".
    Where's the document? What is the programme? Article will get many clicks but doesn't get to the bottom line - no conspiracy theory necessary to explain the reality.

    The programme that bitcoin uses to secure transactions, SHA-256, is created by the NSA. The open source programme is said to be one of the most secure algorithms in the world.
    SHA-256 has been vetted. A more secure algorithm will likely be needed in the future.

    If the NSA can crack SHA-256, we won't know about it until long after they can. But they won't crack your wallet without reason. So don't be a terrorist and don't assume anything in your life is free of snooping. But don't worry about Joe identity thief cracking SHA-256.
    I'm a moderator, and I'm glad to help. But I'm an individual -- my words come from me. Any idiocy within should reflect on me, not Ron Paul, and not Ron Paul Forums.

  6. #5
    I've been saying this from the start and even if it's not true they can and will destroy it if they have too...
    It's just an opinion... man...

  7. #6
    Watch the video at this time stamp.

    https://www.youtube.com/watch?v=hPY-5SR-jPQ#t=1059

    "Satoshi could have been an NSA backed totalitarian, but his protocol is strictly anarchist”



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