Because Bitcoin is not 'anonymous' and it is traceable and it never guaranteed privacy features in its whitepaper unlike privacy coins like Monero, MobileCoin, Grin and Zcash?
Why is Bitcoin losing the dark-net markets?
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Re: Why is Bitcoin losing the dark-net markets?
#12I am surprised no one mentioned that it is possible to trace bitcoin. To me, that is the biggest reason for its use declining in the "dart-net" (tm).
(edit, just saw someone mentioned tracing already)
To me, I still equate bitcoin and others to a ponzi scheme, but this article make me wonder if its real value depends upon its use for illegal activities. If use in these activities drop, I can see large drops in bitcoin value.
Re: Why is Bitcoin losing the dark-net markets?
#13Because Bitcoin is not 'anonymous' and it is traceable and it never guaranteed privacy features in its whitepaper unlike privacy coins like Monero, MobileCoin, Grin and Zcash?
And now Litecoin with MWEB!
(NB: LTC enabled privacy support last week).
Re: Why is Bitcoin losing the dark-net markets?
#14Within less than 2 years monero will have taken over darknet. Then itll go mainstream.
Do you hold Monero?
Re: Why is Bitcoin losing the dark-net markets?
#15I am surprised no one mentioned that it is possible to trace bitcoin. To me, that is the biggest reason for its use declining in the "dart-net" (tm). (edit, just saw someone mentioned tracing already) To me, I still equate bitcoin and others to a ponzi scheme, but this article make me wonder if its real value depends upon its use for illegal activities. If use in these activities drop, I can see large drops in bitcoi…
> I am surprised no one mentioned that it is possible to trace bitcoin
You mean, other than the fact that that's what the whole blog post is about? :-)
Re: Why is Bitcoin losing the dark-net markets?
#16Funny enough: the trust in darknet comes from customer ratings, seller deposit and moderators.
Not from Bitcoin.
A great example on why 'trust' only works for everything inside the Blockchain only.
Re: Why is Bitcoin losing the dark-net markets?
#17I am surprised no one mentioned that it is possible to trace bitcoin. To me, that is the biggest reason for its use declining in the "dart-net" (tm). (edit, just saw someone mentioned tracing already) To me, I still equate bitcoin and others to a ponzi scheme, but this article make me wonder if its real value depends upon its use for illegal activities. If use in these activities drop, I can see large drops in bitcoi…
> I am surprised no one mentioned that it is possible to trace bitcoin.
The many ways to CoinJoin that the article covers address just that. (Just saying for completeness.)
> this article make me wonder if its real value depends upon its use for illegal activities
Bitcoin has many values to many people. Speculation was most often at the top, money laundering / unsanctioned money transfers, drug trade, trafficking and similar non-speculative, criminal uses second. With the recent changes, speculation may come to have a smaller share than before, but still significant. Since the dream of STONKS was always what made the general population condone crypto currencies, maybe we’ll see a decline in support in western societies. At least, with the heavy AML effort in the EU, it could go that way. I sense that Asia is not going that way soon. From what I’ve read (I’m not in Asia), it is as hyped as it ever was. I suspect it fits with gambling cultures.
Re: Why is Bitcoin losing the dark-net markets?
#18Funny enough: the trust in darknet comes from customer ratings, seller deposit and moderators. Not from Bitcoin. A great example on why 'trust' only works for everything inside the Blockchain only.
> A great example on why 'trust' only works for everything inside the Blockchain only.
Having a “trustless” component at the core of a Blockchain has made us all re-examine the places where we deeply rely on trust for real interaction. It is ironic how “trustless” technology is so apt for scamming if you can trigger peoples desire for wealth at the same time. “You don’t have to trust me” was always a great bait for a victim who takes trust for granted. You just need to say high numbers and people will wire money to you.
Re: Why is Bitcoin losing the dark-net markets?
#19What's the 411 on MimbleWimble?
If you're interested in a non-technical explanation of Mimblewimble, I tried to explain it through pictures here https://phyro.github.io/what-is-grin/mimblewimble.html
I read the whole thing, thanks for sharing.
One thing I didn’t understand… if the kernel set grows for every new utxo, then is it possible to match a previous utxo with a newly added utxo by repeatedly trying kernels until you find the one that works for the pair?
Re: Why is Bitcoin losing the dark-net markets?
#20Earlier quoted context omitted.
If you're interested in a non-technical explanation of Mimblewimble, I tried to explain it through pictures here https://phyro.github.io/what-is-grin/mimblewimble.html
I read the whole thing, thanks for sharing. One thing I didn’t understand… if the kernel set grows for every new utxo, then is it possible to match a previous utxo with a newly added utxo by repeatedly trying kernels until you find the one that works for the pair?
every transaction comes with one (or sometimes multiple) kernels.
it also comes with a scalar offset, that gets summed when merging transactions together, making it impossible invert the merging (unless you saw the original txs, e.g. in the mempool).