Zerocoin: making Bitcoin anonymous

#1

Post by anologwintermut » Thu, Apr 11, 2013, 10:44 PM UTC

Zerocoin: making Bitcoin anonymous
blog.cryptographyengineering.com

Re: Zerocoin: making Bitcoin anonymous

#2

Post by ezyang » Fri, Apr 12, 2013, 12:03 AM UTC

Here is a puzzle for HNers. Suppose that I am a user who wants to anonymize some Bitcoins, and I am willing to wait expected time N before redeeming my Zerocoins. What is the correct probability distribution for me to pick my wait time from?

Re: Zerocoin: making Bitcoin anonymous

#3

Post by joelrunyon » Fri, Apr 12, 2013, 12:04 AM UTC

Link to the article (not the comments section) - http://blog.cryptographyengineering.com/2013/04/zerocoin-mak...

Re: Zerocoin: making Bitcoin anonymous

#4

Post by lmgftp » Fri, Apr 12, 2013, 12:09 AM UTC

ezyang wrote: post #2

Here is a puzzle for HNers. Suppose that I am a user who wants to anonymize some Bitcoins, and I am willing to wait expected time N before redeeming my Zerocoins. What is the correct probability distribution for me to pick my wait time from?

U[0,∞]

Re: Zerocoin: making Bitcoin anonymous

#5

Post by ezyang » Fri, Apr 12, 2013, 12:12 AM UTC

lmgftp wrote: post #4

ezyang wrote: post #2

Here is a puzzle for HNers. Suppose that I am a user who wants to anonymize some Bitcoins, and I am willing to wait expected time N before redeeming my Zerocoins. What is the correct probability distribution for me to pick my wait time from?

U[0,∞]

Expected wait time: infinity!

Re: Zerocoin: making Bitcoin anonymous

#6

Post by im3w1l » Fri, Apr 12, 2013, 12:22 AM UTC

ezyang wrote: post #2

Here is a puzzle for HNers. Suppose that I am a user who wants to anonymize some Bitcoins, and I am willing to wait expected time N before redeeming my Zerocoins. What is the correct probability distribution for me to pick my wait time from?

Sounds like a job for security through obscurity. I.e. any distribution you want that is unique for you and you never tell anyone about.

Re: Zerocoin: making Bitcoin anonymous

#7

Post by edmundhuber » Fri, Apr 12, 2013, 12:27 AM UTC

ezyang wrote: post #2

Here is a puzzle for HNers. Suppose that I am a user who wants to anonymize some Bitcoins, and I am willing to wait expected time N before redeeming my Zerocoins. What is the correct probability distribution for me to pick my wait time from?

Pick someone else's and repeat it?

Re: Zerocoin: making Bitcoin anonymous

#8

Post by dragontamer » Fri, Apr 12, 2013, 12:29 AM UTC

Since BTC is expected to be regulated like a currency, wouldn't participating in Zerocoin be basically money laundering?

If that is the case, participating in the Zerocoin network itself would be a crime. I don't think this is going to go anywhere. And if it does, then hope that the Secret Service doesn't catch you even touching this stuff...

Re: Zerocoin: making Bitcoin anonymous

#9

Post by krcz » Fri, Apr 12, 2013, 12:29 AM UTC

ezyang wrote: post #5

lmgftp wrote: post #4

Earlier quoted context omitted.

U[0,∞]

Expected wait time: infinity!

Not really, it's silly to talk about expected value here. There's just no such distribution.

Re: Zerocoin: making Bitcoin anonymous

#10

Post by speeder » Fri, Apr 12, 2013, 12:30 AM UTC

I think that politically this is a awful time for that.

Bitcoin is still largely unregulated, and this allow for all sorts of innovation, yet the media is already scaremongering around because it is "anonymous" and used for laundering and drug dealing.

If Zerocoin attracts true media attention, then you will get a political firestorm of people claiming that someone is making Bitcoin even worse for nefarious purposes. And of course, the paper mention of drug deal does not help with that.