I registered to make this single post, and don't feel like jumping through the hoops of posting whatever number of times or sentences or whatever in order to post on the actual topic this belongs.
The SBC mixing service explanation (found at:
https://bitcointalk.org/index.php?topic=353971.0) sounds fairly fancy and has numbers to skim over, but from what I can tell there is a huge, blatant flaw that nobody seems to be pointing out. I must be missing something.
Typical coin mixing services have several points of failure. They require a web interface, and the very act of accessing such a site its a privacy risk at many levels. Such systems are antiquated and desperately in need of improvement.
For one, this is untrue. A coin mixing service exactly like the one artos describes can be built into just about any coin without much hassle and coin mixing services themselves can operate using a single address without any website or GUI at all. Two, while it is definitely true this system needs improvement, artos then goes on to explain that his mixing services uses two geographically (!!!!!!!!) separate nodes to... no need to go on past that.
Is he suggesting that one day, his mom/girlfriend/wife/kids might some day sell his server in a garage sale and the entire mixing service be gone? What if he dies? This is an absolutely huge single point of failure that seems to be no more than an afterthought-addon to Stablecoin. This kind of thing is something that should be built in as a regular day-to-day operation of the coin, not something that requires everybody send their money to him at any point in time.
Is he going to collect interest on the time the coins are kept? What if he decides to run off and dump what he has using his own system as a way to cover his tracks?
I hope I'm mistaken in all this (because I have money in SBC), but it seems to be that although the mixing service appears to be optional, it is the main selling point of the currency. Without that, it's just a semi-improved version of BTC, yes?
