Bitcoin Forum

➥ https://www.coindesk.com/business/2022/11/18/cardano-is-launching-new-privacy-blockchain-and-token/

This is an online news headline that I saw and I was quite interested in Hoskinson's statement,, how can the privacy project give access to regulators and auditors, it seems they will only make another shit project. Do you support this Cardano's new project?

Yeah, it is definitely an interesting question that requires a broader explanation from Hoskinson himself. How will that be possible? providing privacy and at the same time access to regulators, which part exactly will be private, and which part will be open for regulators' scrutiny?
I doubt this is anything near private, you can not claim to have a privacy project and also give access to regulators, he must be misunderstanding the whole concept of a privacy coin.

Actually the ADA had huge supporters to the platform.Shifting is not a required one in all the sense.Their was huge capita in the ADA,only the new project will do the change to make the new adoption to the new people.This is new way of strategy to bring the investment to their project.But ADA had enough one for the capital raising,the CEO should re consider his opinion towards this new tokens.

Oh wow, he wants to call it Dust? Is that just FU because he didn't get Dusk network devs to join even when he allegedly offered to hire them ridiculously lucraticve salary? I am pretty sure that's not a concidence.
And now when i am reading about it at the same time, it doesn't sound like anything revolutionary, maybe something like mina and doesn't even compare to what's dusk has been doing.

But to the OP:s question, confidential transactions can still be auditable.

Probably they are trying another project which is all about privacy, that could be a big challenge for Cardano but this wont be easy because regulators are now after to privacy coins which many projects already feel the pressure of the government. This is good if they can implement it properly and if they can assure your privacy. Wont invest though at this early stage, we still need to analyze it and see the whole plan and its technology.

this is actually still a big question mark if they issue a privacy token project, why do they have to go through government supervision, that's just that they don't make privacy token. they should go into more detail in this regard, so that potential investors and users will not be disappointed with their privacy token project.

Cardano is already an aged project. There are a lot of new projects especially smart contract platforms that is new but their milestone are already far compared to Cardano which I consider also a very early project.
So for me, I am not hoping on Cardano right now, they already disappointed me before.

I have been bolding the most important part from his statement. I didn't even need to continue reading the whole of his explanation after seeing give access to the regulators and auditors. Where is the privacy from the blockchain if it can be accessed by regulators?

That's enough to said what he was saying in his whole explanation was actually BS. Monero is more than enough to secure your privacy. You have a good project like monero which has proven its tech.

Why need to trust a BS (non)privacy blockchain developed by ADA. ADA itself was full with BS

Well sweet thing with zero knowledge tecnhology is that you can decide what you reveal. And you won't need to provide actual history of anything but the the confirmation that regulators need. However this all needs to happen on layer 1 to make sense and to prevent front running which is something Ada is missing here.

This is something i agree with. Ada wouldn't Be My first choice

There are many old projects that are like this who are seem silent anymore but yet there are still here. They can get continuous demand because they still have a solid fundamentals compared to most new coins which are only good at hypes. You will see soon that those new coins are the ones who will disappear first more than these old coins.

Cardano already disappointed you before but why not gave them a second chance? Everybody deserves it. I think this new update made by Cardano is going to be a game changer for them. This is their answer to the left and right regulations which are happening right now. They want to regain back the privacy of the users.

To early to judge them but was the use case was for the regulators and auditors only? Can't it be implemented on the project right now instead of making a new project? We may never know it technically but somehow it's interesting on how it would play out.

I'll pass this. Anything being made by hoskinson under the name of ADA was crap. Anyone who will believe with what he has said was actually stupid enough. He called that privacy once he was revealing all of data to the regulators. This is the stupid thing that i have ever seen. The hype for ada has gone The regulators would be calling him as a hero by fooling people with the name of privacy blockchain. I never trust that guy as he was shady enough. What in the hell people who still trust that guy or buying ada lol.

I have nothing against Cardano (ADA), I have been a big supporter of this project and even made good money out of it.

But why compete with the privacy blockchain coins when they are being frown upon by many exchanges and even US SEC?

Anyhow, anyone can put question it in there thread here: https://www.youtube.com/watch?v=WYw2MPn2anY

I feel like privacy tokens are old news and they are not going to get that much news anymore. I understand the logic and I understand the need for it but that won't happen and we are not going to see it.

Just realize that privacy is something governments are very very against, and people are not that much in love to keep it going. At some point, in many nations bitcoin wasn't allowed neither but we kept it going, whereas in the privacy world when governments said no, many people said who cares. Which means that between governments being against it, and people are not showing support for it, there won't be that many people who will invest into such a thing at all.

I'm not sure of the functioning of the privacy blockchain. There is nothing to be hyped. Ada is one among the potential list of projects that assure you with the return on the investment. The layers of development keeps everything good. He had developed a way for privacy and opposition is part it. Maybe he can rethink of better choices.

That is based on just marketcaps? I am pretty sure that it's privacy so not many people trade it on the public, but if you could get some decentralized exchange, a hidden trading, where the volume is unknown because who trades is unknown as well, then we could do it. Sure people trade right now, but you can't just deposit money to coinbase, and then buy monero with it and then call it hidden, you are known.

But, if you could buy like bnb, and put it on your metamask, and then trade it away on decentralized exchange via some mixer type monero based defi, that would allow you to hide it and you would trade it a lot more, that's when it will show it's true force.

It's just a matter of how to be invisible. When a user already submits KYC and then buys privacy coins on the exchange, then his privacy is compromised already.  It's useless. Pretty sure there are people going to be part of it if they can just take the privacy coins and nothing can be traced even thier old wallet.

Cardano afaik has MIDNIGHT https://midnight.iohk.io/
I think they are airdropping these tokens to all holders, I'm just not sure when or how private it is.