111–120 of 328 posts
If I am missing something, would be interested in understanding why.
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Don't tell him about Monero bruuuh :D
Don't tell the crypto Bruhs about the several vulnerabilities already found in the Monero anonnymisation system. https://arxiv.org/pdf/1704.04299/ The problem is also one of credibility, Bitcoin was supposed to be private and breaching privacy has proved to be pretty trivial. Encryption is hard, but maintaining anonymity is much harder.
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Don't use AML/KYC entities?
I can't use crypto for anything useful without it. This advice means crypto is useless.
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The lack of trust means that the only thing left to guarantee (to a normal person) that the system is working is transparency.
transparency Has anyone seen the financial records for Tether?
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Don't tell him about Monero bruuuh :D
Don't tell the crypto Bruhs about the several vulnerabilities already found in the Monero anonnymisation system. https://arxiv.org/pdf/1704.04299/ The problem is also one of credibility, Bitcoin was supposed to be private and breaching privacy has proved to be pretty trivial. Encryption is hard, but maintaining anonymity is much harder.
From the paper - "Our techniques show that Monero is not necessarily a dead end for investigators."
And then offers zero evidence to demonstrate that investigators were able to use anything from the seizures.
This is not evidence - "They (mistakenly?) advised their hopeful subscribers to publish their email addresses (hexencoded, but publicly visible) in the Monero blockchain, leading to these transactions being identified" [31]
[31] - https://steemit.com/shadowbrokers/@wh1sks/ theshadowbrokers-may-have-received-up-to-1500-monerousd66-000-from-their-june-monthly-dump-service
Link is broken - where is the evidence that 1500 XMR was transacted?
> Unfortunately, this aspect of his brilliant design was one of the first things to be undermined by subsequent blockchain operators. Many cryptocurrencies that have been created since are unlimited in supply, including some of the most heavily speculated ones like Solana, Dogecoin and Shiba Inu. > This is worse than what the central banks have done. No, it's not. Even a coin that is emitted one per second forever is…
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What is the point you are trying to convey?
That many things these days are called Blockchain, as if to appear secure, but they're no more sophisticated than centralised databases, while actual blockchains, like Bitcoin as exemplified in its whitepaper, is designed to be a secure and decentralised chain of transactions. "Blockchain" has stopped meaning anything when people decided to use it for anything remotely related to internet money. It's just become a fa…
Monero, on the other hand, is designed to intentionally be hard to trace history of transactions on.
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> The traditional banking model achieves a level of privacy by limiting access to information to the parties involved and the trusted third party. The necessity to announce all transactions publicly precludes this method, but privacy can still be maintained by breaking the flow of information in another place: by keeping public keys anonymous. The public can see that someone is sending an amount to someone else, but…
Satoshi+in their writings) didn't understand the side channel attack of the Blockchain-meatspace bridge. Bitcoin only meets its design guarantees in a purely virtual world or with anonymous terminals. Bitcoin is already expensive enough to transact in, are you also going to move to a different location every time your transact?
Yesterday the average transaction cost was 0.7 USD. That’s pretty cheap as far as money transfers go, definitely beats most banks.
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This seems to be lost on a lot of folks, which I find strange in a tech-centric forum. Bitcoin is perfectly pseudonymous, as it strives to be, and not anonymous, which it has never attempted to be.
My recollection is that Satoshi wanted people to rotate public keys after every use exactly to have anonymity.