Catherine Austin Fitts on Bitcoin being a deep state Psy-Op (my clarifications and rebuttal as a programmer)

The relevant comments here run from about 27:30 to 41:00...

First of all, let me point out that the bitcoin source code is open source and anyone in the world can set up a bitcoin node and run it from your attic if you want to. Catherine states that bitcoin is a government psy-op which isn't an accurate picture of the situation at all. If it was, cypherpunks around the world would have staked their claim that they found the source code that was inserted by the NSA unannounced.

I have heard that because a few of the core programmers have a loose connection to the Bilderbergs, we might want to watch their github commits (about five different individuals in one article I read) to see if they deviate in such a way as to compromise security. But if they do this, they of course create a fork in the protocol and we've had those. Without a high percentage of consent by miners, merchants, end users, core dev's and witness nodes, their fork (we'll call it FedCoin) will just be another minor coin not largely accepted by the network. Bitcoin is being internationally developed so the connection to a single government control is sparse at best, but something to keep an eye on.

Her statement that one of the best ways to solve problems is to dump a whole bunch of money on a project so that the best and the brightest start working on it throughout the world is in conflict with the fact that the end result is something that they won't be able to control. She seems to think that bitcoin can be co-opted. Nope. Not only that, core is working on a fully anonymous encrypted lightning network using second layer technology. It might be easy if you're not a software developer who hasn't worked with the code to have serious doubts, but I don't because I have. So if you still think that she's right, I must also be working for the deep state to try to deceive you.

I do however agree with her statement that bitcoin would be easy to manipulate in terms of price. The big money coming in from the CME is likely to bring the price much higher and then through collusion some of the deep state players might dump a big chunk of bitcoin and cause the price to tank. The bigger worry for me at this point is bitcoin failing to scale.

Catherine is conflating a couple of different issues when she says that the encryption is not secure. First of all, the encryption on the blockchain has never been cracked. She appears to hope that you will remember Mt Goxx and think that's the same thing as "bitcoin not being secure". That much is true. If you leave your coins on an exchange, of course your funds aren't secure because the exchange is managing your private keys. In essence you've allowed them to become your "bitcoin bank". This violates the decentralization principles of Satoshi Nakamoto.

The elliptic curve that derives an X, Y point that generates an encrypted private key has never been cracked. Elliptic curve cryptography only works in one direction. You can generate a public key and multiple bitcoin addresses from that public key, but you can't generate a private key by knowing the public key. The mathematics only works in one direction:

source

Elliptic curve cryptography derives from the discrete logarithm problem of mathematics that only allows for calculation in one direction. As Andreas Antonopoulos explains it:

The public key is calculated from the private key using elliptic curve multiplication, which is irreversible: K=k∗G
where k is the private key, G is a constant point called the generator point and K is the resulting public key. The reverse operation, known as "finding the discrete logarithm"—calculating k if you know K—is as difficult as trying all possible values of k, i.e., a brute-force search.

Andreas later goes on to say that this brute force search is roughly equivalent to finding a single atom in the entire visible and dark matter universe.

The curve when plotted in real numbers looks like this...

source

But not all the numbers are used to generate the generator point. In fact, it will be a series of prime numbers as defined by this equation:

source

So the graph is really a series of prime number points on an unfathomably large scale and recorded in hexidecimal. If you remember your mathematics the equation basically means take any point Y and then generate the equivalent value for X based upon these conditions but the plotted points are only allowed over a finite field of prime order (but a very large range).

In the equation k*G = K (which is private key multiplied by the generator point equals the public key, k and G are points on the elliptic curve and G is a very large prime number.

It's not my intention to go into the deeper technicalities here except to prove that cracking the private key is next to impossible. Many people who work in government would like you to think that they are more powerful than they really are. The reality is that nobody has complete control of anything. They aren't gods, and decentralization is about to force them to take a knee to mathematics.

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Donations (public bitcoin address):

3FwxQsa7gmQ7c1GXJyvDTqmT6CM3mMEgcv

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