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Is NIST P-256 the same curve that Bitcoin uses? https://en.bitcoin.it/wiki/Secp256k1 https://en.bitcoin.it/wiki/Secp256k1 Edit: NO, but it's a relative and ha
by api 11y ago
Is NIST P-256 the same curve that Bitcoin uses?
https://en.bitcoin.it/wiki/Secp256k1 https://en.bitcoin.it/wiki/Secp256k1
Edit: NO, but it's a relative and has a similar background.
Bitcoin is an interesting player here because it's in effect the largest bug bounty in history. If someone could crack it, they could slowly manipulate its price and bleed money out of the Bitcoin ecosystem to the tune of (conservatively) tens of millions of dollars before someone noticed that something more than a Bitcoin price crash was occurring. I'd assume that anyone sophisticated enough to actually break Bitcoin would also be sophisticated enough to use that break to do this by e.g. cracking wallets and slowly draining them or creating price-manipulating transactions.
So I'd expect any leakage of an ECC break that was actually practical to use in the real world (as opposed to an 'academic' break) to show up in the form of an enigmatic draining of the Bitcoin piggy bank.
- lisper 11y ago> they could slowly manipulate its price How? The only way you can drive the price of bitcoin (relative to some other currency) is to buy or sell it for that currency. You can't manipulate the price simply by moving bitcoins around. What you could do, of course, is drive the price down by making it known that BTC had been cracked. You could probably even do this so that it played out over a period of days before people were really convinced it was cracked and the whole ecosystem collapsed. But it's hard to see how anyone could profit off this. AFAIK there's no way to short bitcoin.