Re: [ANN][PIVX] - PRIVATE INSTANT VERIFIED TRANSACTION - POS 2.0 - ZEROCOIN PROTOCOL
I got worried I missed out on a good coin, but I just saw it uses zerocoin protocol, about as useless as zero knowledge protocols - both use trusted set-up. I guess people are tired of trustless crypto, they want to trust the trusted set-up holders won't print money for themselves out of goodness of their hearts
I am still learning about the coin, so maybe someone else can answer, but I don't think it is actually setup to work that way. How do you think they can they print money for themselves?You must trust that the founders destroyed the nonce used in generating the initial parameters. If they didn't then they can see all your transactions and print as many coins as they want without being detected (dropping the value of the coin). Zerocoin is not trustless, you may as wall use ripple - or a bank.
Just to clarify. We currently DO NOT use libzerocoin protocol. It is still in the implentation phase.
Also, printing coins at will is not possible nor are the tranactions fully hidden to do so anyways.
Good tries at fudding though. Hope you got some cheap PIVX!
