Quote from: toknormal on July 20, 2015, 02:38:17 AM

Quote from: smooth on July 20, 2015, 02:26:00 AM

As I explained to you earlier, you can do exactly the same type of audit. Every single transaction except coinbases have inputs exactly equal to outputs (if fees are included in outputs), and that is entirely visible. Coinbases can be verified to match the published reward schedule in every instance starting from block 0 all he way to block infinity (unlike Dash, BTW), again all visible. Thus you can be assured that coins are not and never have been created out of thin air.

You further need to verify that transactions have valid signatures (for which all the necessary inputs are, again, visible), which is finally exactly the same thing you need to do (but with slightly different mathematical equations) with every other cryptocurrency.

This is just technological B.S. that nobody monetary user is interested in or needs to know. It is not a financial audit.

I already described what an "audit is" and it is not something that cryptonote supports because the relevant information is obscured. The originating address is obscured, the destination addresses are obscured, even the balance itself is obscured - that is the whole *point* of the cryptonote technology which is why I say it's relevant for bookkeeping or record keeping of a trusted party-backed currency but not for defining a new form of base money.

The addresses are "obscured" in exactly the same way as they are when you use Dash and Bitcoin and follow the recommended best practice of not reusing addresses. If I'm not mistaken, Darksend does this automatically as well.

The balances are obscured in that you can't tell which outputs belong together, and you can't tell which are spent. Again, this is the same as with Dash or Bitcoin. You can't tell the balance in my Bitcoin wallet, because my Bitcoin wallet has many receiving addresses, and you don't know which those are.

This was always the intent of Bitcoin and this is how it works today. The difference is that Cryptonote (and Dash for that matter, if we put aside the third party trust required of masternodes, and the fact that the entire system is ad-hoc defined with no formal specification and no possibility of mathematically-proven soundness) leaks less unintended information in the form of identifiable links between transactions and addresses than Bitcoin does, leaks which allow people to perform third party analysis and piece together more information (for example which addresses and/or "coins" have been used for various "bad" things, which other addresses might be owned by he same person who just sent me some money, etc.).

It has nothing to do with "good money" or "audits."

I'm sorry tok, you are just horribly confused and (likely willfully) ignorant.