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There's a bounty of $100M (at the very least) for cracking 256-bit (128-bit strong) elliptic curves. It's called Bitcoin :) So if they're broken - we'll know t

There's a bounty of $100M (at the very least) for cracking 256-bit (128-bit strong) elliptic curves. It's called Bitcoin :) So if they're broken - we'll know that very, very fast.

mSparks 10y ago
not true - the public blockchain means that cracking the encryption is only a very small part of such problem. You also need to convince all the other peers that you cracked it first Because Bitcoin IS cracking encryption - bitcoins are assigned by doing exactly that. In Bitcoin, a private key is usually a 256-bit number (giving a key length of at least 512 bits) On the other hand, I'm sure all the MTgox customers will be happy with your assertion that their $450 million of missing/stolen funds allegedly stolen straight out of the MtGox hot wallet over time, beginning in late 2011. are actually still safe. Not sure they'll agree however.