Empty promises:
The ring signatures V2, has a follow-up post which has been conveniently omitted. V1 didn't have the DarkSend that is now implemented, rather something like 3x10 DRK, one round. It was real-time, in the sense that you had to transact (DarkSending money) as you were mixing.
I wrote something to the effect that ring signatures are DOA / they don't scale, and then Evan thought of another way to improve mixing, and V2 came out with premixing (no need to mix when sending, which improved speed massively as the money were ready to get spent), multiple rounds, various denominations etc.
So people did get a much upgraded V2, although through a different implementation.
Link please to the follow up post.
Also please link me also to the PROOF that ring signatures don't scale.
I want to see actual numbers/math/facts. Not hand waving.
=> "
I have 2 possible solutions to evaluate for V2 of darksend (ring signatures and encrypted system where the users themselves do the joining relayed through the masternodes.) . Both of these make the masternodes unaware of who is sending money to whom, so centralization isn't an issue at that point."
https://bitcointalk.org/index.php?topic=421615.msg6862900#msg6862900https://bitcointalk.org/index.php?topic=421615.msg6864666#msg6864666As for "proof", well Bitcoin as it is can't scale. It'd need petabytes to compete with payment systems like VISA. You think a coin that generates multiple bloat per transaction, can?
It's called pruning.
You can prune the block chain down to a certain subset of transactions and the network of nodes would still function normally.
Perhaps all crypto coins are not attempting to directly compete with VISA/MASTERCARD. I'm guessing that based on your statement that Dash is attempting to compete with VISA etc?
I'm not sure how Dash is expecting to accomplish this task in a decentralized/private way while still having DATA CENTERS or collocations setup specifically to run masternodes.
May as well just use VISA.
If the max supply of dash is let's say 25,000,000 (i can't remember the max at it is dependent on difficulty?) that means that the maximum amount of masternodes that could exist is 25,000 using my example cap. I'm pretty sure there are more bank locations than 25,000 world wide.
What happens when 1000 dash costs $1,000,000? Isn't that a problem when you have such a high barrier to entry? It doesn't sound like decentralization but quite the opposite.
It's like the barrier to entry of opening your own bank location (you have to have $X to do so).