Latest posts of: blytecoin

Also about the proof reading, yoyo told me to correct this:
"By using Zerocoin you would exchange 2 anoncoins for 2 zerocoins, which would be added to all the other zerocoins in the ~~Anoncoin blockchain~~ cryptographic accumulator, waiting there to be redeemed."

So what happens to those coins in terms of visibility in the blockchain? They are shown as being transfered from the person's wallet to where?

Also, zerocash has 7 ivy league level experts creating an anonymous coin while anoncoin has one person who is working on a salary. If a major flaw is found in zerocoin after its release, and it seems highly likely that will be the case, does anc have a fallback plan? Would it keep patching zerocoin? Switch to something better?

The number of Ivy League degrees working on zerocash really doesn't matter if users are asked to *trust* that the key has been destroyed in order assure anonymity.

From the zerocash website.

Quote

erocash requires a trusted entity to conduct a one-time setup of the parameters of the system. During the setup procedure, secret random bits are drawn and used to compute the public parameters; the random bits are then destroyed, and the parameters are broadcast. If done correctly, then no secrets or backdoors remain.

If this setup procedure were to be corrupted, the system would continue to provide anonymity guarantees, but it would be possible to "forge" coins. As long as this setup procedure is conducted honestly, it is not possible to corrupt the public parameters of the system.

Wait a minute. You are saying it is better to trust one person who will not identify himself, rather than 7 ivy league experts who are public figures, when it comes to trusting whether a backdoor has been coded in? Especially when the one unidentified person has simply taken the work from others and claims to have completed it?

It looks like a pumpndump scam on a grand scale. I'm in. Keep on pumping and we'll see how many stupid people bite.