The Bitcoin saga takes yet another intriguing twist as Nic Carter, the outspoken Bitcoin advocate, adds fuel to the long-standing theory linking the NSA with the mysterious origins of the cryptocurrency.

Unraveling the Origins

On September 15, Daniel Roberts, co-founder of Iris Energy, reignited interest in this theory by posting excerpts from a decades-old research paper titled “How to Make a Mint: The Cryptography of Anonymous Electronic Cash.” This 1996 gem elaborates on the brilliant use of public-key cryptography, enabling users to make anonymous transactions that would make even the most paranoid introvert feel safe.

What got the conspiracy wheels turning more vigorously? The paper’s footer, which practically screams government interest, reveals the work of NSA employees. As if that wasn’t spicy enough, it cited Tatsuaki Okamoto, a key figure behind the Okamoto–Uchiyama public key cryptosystem.

Nuts and Bolts of the Theory

Fast forward to September 21, when Carter publicly supported the theory, dubbing it the “Bitcoin lab leak hypothesis.” He mused that Bitcoin was birthed from an abandoned NSA research project, conjuring images of an overzealous cryptographer deciding, “This is too good to stash away, let’s unleash it upon the world!” Carter, no stranger to this theory, previously suggested Bitcoin might be a “monetary bioweapon”—a code that escaped its secretive lair.

• 2020: “If Bitcoin was written by NSA cryptographers… does that make it a virus?”
• 2021: “The only decent thing the NSA ever did was let Bitcoin leak from the lab.”

Untangling the Knots

Interestingly, Carter clarifies that while he believes in the theory, it doesn’t mean the government has its fingers in Bitcoin’s pie, nor have they created a backdoor in the code. Instead, he imagines a rogue researcher sending Bitcoin into the wild without the NSA’s blessing, leaving behind traces of anonymity just to make things more ironic.

“There’s a ton of circumstantial evidence supporting this theory,” Carter claims. Cue the spooky music.

Name Game: The Satoshi Connection

In a twist that sounds like it came straight from a Dan Brown novel, some internet sleuths ponder if Tatsuaki Okamoto’s name could have been a nod to Bitcoin’s creator, Satoshi Nakamoto. Carter acknowledges the name similarity but quips it’s not a critical part of his argument.

Contrasting Theories from the Frontline

Matthew Pines, an intelligence director at a cybersecurity firm, believes the truth might lie somewhere in the harmony of collaboration between NSA cryptographers and the cypherpunk movement, suggesting that Satoshi or their collaborators might have had ties to the NSA, but nothing categorically sanctioned. Meanwhile, Raoul Pal, a former Goldman Sachs executive, goes a step further—claiming the U.S. and U.K. governments are the masterminds behind Bitcoin.

Yet, Jeffrey Man, a former NSA cryptanalyst, remains skeptical. He argues while it’s plausible the NSA could have a hand in Bitcoin’s creation to spy on enemies, we probably wouldn’t learn the truth until it’s as relevant as floppy disks in 2050.

Concluding Thoughts

No matter where you stand on the conspiracy spectrum, the dialogue around the NSA and Bitcoin reminds us that in the world of cryptography, truth can be stranger than fiction or just plain ridiculous. So, whether you believe in the lab leak theory or not, it’s clear that the origin of Bitcoin remains a hotly debated topic, generating more questions than answers.