Is Bitcoin a Secret Operation Run by the National Security Association in America?

Who created bitcoin? What possible powers could be behind it? Who exactly it benefits? A question on the minds of millions with no clear-cut answers but only conspiracy theories. Let’s consider the possibility of the National Security Agency (NSA) of the USA being behind this massive project.

NSA definitely had some part in this crypto project as the famous hashing algorithm SHA-256 is owned by NSA and was actually made published by them in 2001. The algorithm is a set of mathematical functions that maps every input on to a binary coded string. The input is compressed to make a 256-bit long string called the hash and it also encrypts the file. These are one-way mathematical functions and the algorithm cannot be reverse engineered to reach the input after processing the output. The hash is an integral part of the algorithm if one wants to find the original input.

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Although the hash is produced completely randomly, every single input will result in the same hash every time. If one wants to verify a hash value it can run the input through the algorithm again to obtain the same hash. The particular aforementioned hashing algorithm is an integral part of the bitcoin network.

If ‘Satoshi Nakamoto’ is translated, it means central intelligence. The creator may have wanted to drop the subtle hints that there is a central authority that owns bitcoin and has vital control over it. Another reason why NSA would want to have a global cryptocurrency in circulation is that they may need a separate channel to transfer money in a time of need for example war. The secret operations run under the umbrella of NSA may be able to benefit the use of a network like bitcoin for the sudden transfer of funds.

Another considerable fact here is that bitcoin is not as private as people think it is. All the transactions are recorded on one public block which is widespread over many nodes all over the globe. It is not like normal banking where all your information is hidden behind one password and there is a single administrator maintaining it.

If someone has the hold on blockchain and can actually have the track of all the transactions recorded on it, the cybercrime agencies can so easily get to catch crimes which only assists the fact that NSA may be a key factor behind the creation of bitcoin.

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Fatir Malik

Electrical engineer by profession, turned into blockchain developer. Fatir contributes regularly with his insights about latest developments in fintech sector. Contact the editor at editor.opinions@blockpublisher.com

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