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No, liquidity is a measure of how easy and cheap an asset can be traded in the markets.
In economics, liquidity is often referred to as "spendability".
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That’s not what’s meant by fungibility[1]: In economics, fungibility is the property of a good or a commodity whose individual units are essentially interchangeable [1]: https://en.m.wikipedia.org/wiki/Fungibility
My mistake. I thought fungibility=spendability. Am I thinking about liquidity?
In terms of currency, fungibility essentially means that money of the same denomination is indistinguishable.
So if I had a $5 bill that I got from a marijuana dispensary, and another $5 bill that came from the Treasury, at the register both of them would be equally treated as $5.
In the case of Bitcoin, fungibility is a bit harder to have since any merchant can parse the block history and find where a Bitcoin came from.
Tangentially, this also relates to the notion of privacy, since if you gave me a Bitcoin, I could also find the address of your wallet, and see outgoing or processed transactions -- like, this is pretty bad if you used the same wallet to buy drugs.
What are the current crop of cryptocurrencies that are truly anonymous? The list I have so far is: Aeon, DASH, Komodo, Monero , NAV Coin, PIVX, Verge, Zcash, Zcoin, and ZenCash. Any others? Edit: Added Aeon
If you define truly anonymous as having no way to see transaction addresses and amounts, no way to check balances and history and these features all active by default... it would leave you with Monero and Aeon.
Of course other differences exist, such as vulnerable crytography (Zcoin), a potentially flawed "trusted setup" (ZCash, ZenCash), etc
What are the current crop of cryptocurrencies that are truly anonymous? The list I have so far is: Aeon, DASH, Komodo, Monero , NAV Coin, PIVX, Verge, Zcash, Zcoin, and ZenCash. Any others? Edit: Added Aeon
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Bitcoin has a flat transaction rate for moving any amount of value. So yes, more expensive if the amount being transferred is low, and I mean really low.
Bitcoin's transaction fees are more complex than flat per transaction. It depends on the size of transaction which then in turn depends on how many incoming payments you have to combine into the amount of BTC you want to send. This has somewhat surprising and unfortunate high-level effect that the smaller transactions you do, the higher are fees for your future ones. The same is true for all cryptocurrencies where yo…
Also, pertaining to the original article, it's unclear if either ring signatures or bullet proofs can be made to work with an account model. Is there any examples of this?
*Bitcoin now measures transactions in weight, not size, a similar concept to Ethereum's gas (though much simpler)
I agree with the premise that fungibility is important to Bitcoin's success, but I disagree that Bitcoin is 'flawed' or has in some way lost to Monero. There was an update yesterday on the progress being made on privacy features in Bitcoin: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017... On a related note, I am happy about the conservative and careful pace of development of Bitcoin. I don't want my st…
But one of the things we need to get past is people pointing to technical progress, usually involving better performance or some clever trick, and casting it as providing privacy.
This isn't a race to win on privacy, its a race to get real privacy. By default everything is totally exposed in a blockchain. It's far closer to twitter for your bank account then anonymous internet cash.
There are very real differences between the types of attacks the various technologies out there protect against and it's important people understand that because right now they are totally exposed. CT, which was what you pointed to in Bitcoin, hides payment values. CT doesn't directly do anything to hide the transaction graph. It can be combined with coinjoin to partially do that, but thats not whats implied here nor does faster CT really effect that. And anyone reading certainly wouldn't ask how well either of these actually protect the transaction graph. Which is a very real question.
Why does this matter? It's the difference between hiding if you overpaid for a car vs hiding if you made a controversial political donation, if you got an abortion, or your identity when purchasing controversial books or movies.
What are the current crop of cryptocurrencies that are truly anonymous? The list I have so far is: Aeon, DASH, Komodo, Monero , NAV Coin, PIVX, Verge, Zcash, Zcoin, and ZenCash. Any others? Edit: Added Aeon
These coin all employ some anonymity features. Some real shallow (such a Verge only routing traffic over TOR) and some more elaborate (such as ZCash with zero knowledge proofs). If you define truly anonymous as having no way to see transaction addresses and amounts, no way to check balances and history and these features all active by default... it would leave you with Monero and Aeon. Of course other differences exi…
Earlier quoted context omitted.
Bitcoin may not be dead but it is certainly being destroyed on its original purpose (being money). The only reason to hold Bitcoin is the naive hope that more suckers (not even a better word for them) pay you to hold something they think will go higher (again: suckers) There are networks that are faster / more secure than Bitcoin and therefore more valuable as usable money (which is what Bitcoin was supposed to be) B…
Bitcoin is still the network that is least likely to see a double spend executed.
What are the current crop of cryptocurrencies that are truly anonymous? The list I have so far is: Aeon, DASH, Komodo, Monero , NAV Coin, PIVX, Verge, Zcash, Zcoin, and ZenCash. Any others? Edit: Added Aeon