NSA invented Bitcoin in 1996 -- 22 years before CIA released it

Dec 26 08:43 [raw]

NSA invented bitcoin in 1996 -- 22 years before CIA released it "Satoshi Nakamoto" (中本聡) is old Japanese for "Central Intelligence." NSA invented the concept of anonymous, digitally signed currency and the bitcoin wallet in 1996. HOW TO MAKE A MINT: THE CRYPTOGRAPHY OF ANONYMOUS ELECTRONIC CASH Laurie Law, Susan Sabett, Jerry Solinas National Security Agency Office of Information Security Research and Technology Cryptology Division 18 June 1996 http://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm

Jul 14 04:36 [raw]


Jul 14 14:43 [raw]

You should read the NSA MINT document more carefully - it describes a CENTRALIZED system. Its only similarity to Bitcoin is use of public key signatures, but none of the components of the *trustless decentralized truth machine* that makes Bitcoin possible are included. There was no Merkle blockchain, no Byzantine general solution, no inflation control, no proof-of-work, no automatic difficulty adjustment, no peer-to-peer network etc. If anything, the NSA MINT describes a paperless electronic fiat banking system. Meh. Also, some extra meh: I (a civilian) remember playing with e-cash (-lucre etc) in the 90's and worrying that we're late to the game because Dr. Chaum had been doing it COMMERCIALLY since 1990. I repeat, a commercial implementation of the NSA MINT was being actively marketed in the US, and trialled by several US banks, 5-6 years BEFORE the NSA document. Then the credit card companies registered the threat and responded swiftly: buried everything under 6 feet of acquisitions, regulations and aggressive marketing, and by 2000 e-cash had retreated to its pre-90's status as a mostly academic/enthusiast endeavour. If you thought the NSA MINT was a groundbreaking invention, in reality it was consistent with the state of the art at the time. The 90's have been a wild period.

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