81–90 of 94 posts
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What is the legal risk? With a zkp properly involved shouldn't de-anonymization be impossible? Or do you mean other risks?
They've gone on record saying they're not liable for any criminal activity used by their coins, which lends me to believe that they'll unmask and turn anyone over if subpoenaed.
When SegWit is released in a few months, confidential transactions will be right around the corner
That only keeps the amount transferred private, not the addresses. Also, it has nothing to do with segwit, it was proposed well before segwit was a thing.
Earlier quoted context omitted.
That only keeps the amount transferred private, not the addresses. Also, it has nothing to do with segwit, it was proposed well before segwit was a thing.
Doesn't segwit allow for softforks?
Earlier quoted context omitted.
What is the legal risk? With a zkp properly involved shouldn't de-anonymization be impossible? Or do you mean other risks?
They've gone on record saying they're not liable for any criminal activity used by their coins, which lends me to believe that they'll unmask and turn anyone over if subpoenaed.
Earlier quoted context omitted.
Yes. z.cash centralizes control under a corporation, which makes it vulnerable to legal process and political risk, and it is what is known in the crypto world as a "pre-mine scam".
How is it a scam if the founders are honest about it? Everyone knows the name of the game.
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Are you saying you're 100% comfortable sharing the details of all financial transactions you're a part of with "the world"? Sure, your bank would probably want to inquire about the source of the cash if you were to bring a briefcase of cash to the branch for a deposit. But that would be private information sharing "channel" between you and your bank - both the source of your funds and the fact that you have them in y…
> Are you saying you're 100% comfortable sharing the details of all financial transactions you're a part of with "the world"? I'm pretty sure I didn't say that, so no.
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It's a scam in the sense that it's basically a pump and dump game for the founders. Sure, many people will know it, but those who do will probably avoid it, it's those who don't who will buy it on markets and lose out when the founders dump.
Pump-and-dump is a major threat. Almost every cryptocurrency or related asset, including Bitcoin and Ethereum, has been vulnerable to pump-and-dump, and it is impossible to prevent. One way to try to deter pump-and-dump is to make it so that the founders don't have any sort of privileged position, but then how could you afford to do all of the work to create a solid, usable protocol? The Zcash team ( https://z.cash/t…
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It's a scam in the sense that it's basically a pump and dump game for the founders. Sure, many people will know it, but those who do will probably avoid it, it's those who don't who will buy it on markets and lose out when the founders dump.
Pump-and-dump is a major threat. Almost every cryptocurrency or related asset, including Bitcoin and Ethereum, has been vulnerable to pump-and-dump, and it is impossible to prevent. One way to try to deter pump-and-dump is to make it so that the founders don't have any sort of privileged position, but then how could you afford to do all of the work to create a solid, usable protocol? The Zcash team ( https://z.cash/t…
Don't get me wrong - You're doing great work and I hope it pays off, but I won't be using it unless it's forked and the founders reward is removed. I just can't trust it with 10% of the coin in control of a small group who didn't have to "pay" to get it.
I understand the desire to pay the founders, but couldn't something closer to the Bitcoin Foundation work?
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What's your point? that post basically just says yes, it's a pre-mined shitcoin but slightly disguised by being distributed over time using an algorithm.
To quote Zooko himself[1]: "I don't agree that what we're doing with the Zcash Founders Reward is a premine. It's not pre! (Also it isn't mining.) But the part about it not being pre seems really important to me, because it means that anybody who can run a Zcash miner (which, I hope, will be almost anybody on the Internet) can have access to Zcash currency no later than the founders do. "As I described on my blog pos…
Nothing about what he said prevents this at all. It's still a pump and dump scheme, just longer term.
Basically they solved the most minor part of the pre-mine problem and claim they solved the whole issue.
Shameless plug for Monero https://eprint.iacr.org/2015/1098.pdf (ring ct author here) edit: See also https://github.com/shennoether/ringct and https://github.com/monero-project/bitmonero