The visibility of the transactions in the blockchain enables anyone and everyone to confirm the validity of the ledger. Cryptonote does not have this visibility, therefore the validity of the transactions cannot be confirmed, which means there is no independent way of verifying that the implementation or the protocol have not been broken.
It could be broken, we dont know and we have no way of showing that it is not being exploited right now.
That's not true. You can verify Monero's coinbase as you do in Bitcoin.
In fact BitCoin transactions are meant to be available for scrutiny to anyone running core anywhere on the network.
The visibility of the transactions in the blockchain enables anyone and everyone to confirm the validity of the ledger. Cryptonote does not have this visibility, therefore the validity of the transactions cannot be confirmed, which means there is no independent way of verifying that the implementation or the protocol have not been broken.
It could be broken, we dont know and we have no way of showing that it is not being exploited right now.
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BoardAltcoin Discussion
Re: What no privacy means
by
barnaby47
on 22/04/2016, 11:41:53 UTC
Yup, privacy is more and more important in this age of mass surveillance.
It dangerous experimental technology. Unless you are an expert capable of evaluating everything carefully and an extreme speculator, and in all cases capable of securing your crypto coins properly, you shouldn't buy it. If you have a short term use, well you still need to be able to secure your crypto coins properly, and no that doesn't mean GUI.
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BoardAltcoin Discussion
Re: Why the bitmonero/monero Ninjalaunched Cripplemined Fastmine matters
by
barnaby47
on 21/04/2016, 21:28:14 UTC
So much talk from the monero gang about "proving" a cripplemine.
Its completely unnecessary because there is doubt, a lot of doubt. Coupled with the other facts, this coin is doomed.