Post
Topic
Board Altcoin Discussion
Re: Which currency should I use to stay anonymous?
by
TPTB_need_war
on 17/01/2016, 12:43:32 UTC
[...]

I view Monero and Ethereum in the same light.  I'm sure you would have pointed out bitcoins flaws when it was $10 per coin and said "This will never work." out of some of the same principles you are using now.

I did point out in 2013 exactly how Bitcoin would end up failing, which I said would be game theory of centralization around mining. And I was correct.

I never wrote that Bitcoin would have no utility and in fact I wrote that the utility of Bitcoin was very inspiring. Why do you reckon I am still here in crypto if I didn't think so!

Problem Monero has is that there is very little demand for an anonymity for which the reliability is unprovable. It is a marketing utility problem, which Bitcoin doesn't suffer. Even if we did implement provable anonymity (e.g. Zerocash not Zerocoin), it still not clear if markets for anonymity would be great, especially if the decentralized, permissionless attribute isn't assured, because the government can simply take control over centralized mining and force the anonymity to be stripped off. OTOH, companies are saying that privacy is very important to them and perhaps they do not mean hiding from the NSA. And public block chains using encryption are superior conceptually to private block chains using perimeters defenses because even sneakernets fail (e.g. Stuxnet). But the things corporations want privacy on are the block chain 2.0 features that Ethereum is working on. The corporations aren't interested just in crypto currency alone as that doesn't have much utility to them. Cryptonote (especially combined with Confidential Transactions that hide values) is a very technologically interesting concept, but without any significant utility in the markets.

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