Post
Topic
Board Bitcoin Discussion
Re: "Failure to Understand Bitcoin Could Cost Investors Billions" (Bitcoin's flaws)
by
AnonyMint
on 12/02/2014, 10:37:58 UTC
So yes we need that anonymous cryptocurrency and thus black market. My hope is it becomes as mainstream as possible. Else everyone sinks with the Titantic.

Zerocoin is soon to be released. Way better anonoymity than Bitcoin

I already explained upthread why it can't be Zerocoin. See the following upthread quote of myself:

Now I'd really like to get a discussion going on this alt crypto coin saver. Could it be zerocoin?

No.

  • Validation is too slow, thus can't work technically.
  • Might be back-doored (although this might be fixable)
  • Unproven, very complex new crypto. Needs many years to become trusted and stable.
  • Storage size needed for full clients is impractical if it is mandatory for all users
  • Mixers, laundries, and exchanging between coins which are not mandatory fail for the ex post facto reason I provided in the 3rd item in the Threats section and footnote [2] of the OP
  • Subject to timing attacks, i.e. timing when inputs go in and outputs come out
  • Doesn't obscure the IP address of the participants, and Tor + VPN are inadequate, this will be explained further at the appropriate time