Friday, August 11, 2017

A Hundred Years of Crypto Anarchy

This is Ft. Knox. There’s something like $200B worth of gold stored here. A game theorist might reckon that it’s economically rational to spend up to $199B to break into the vault and steal the gold.

Except that we have a $600 billion defense budget. In the physical world, whoever has the biggest weapons gets to make the rules.

This isn’t true for the digital world. Encryption is cheap to defend and expensive to attack. To brute force a 128-bit RSA key would take a million billion years with a supercomputer.

Threats of violence are useless here.


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