rpietila Altcoin Observer

[TrueCryptonaire]

Can someone please explain about Zerocash, why it is a potential threath to Monero (currently considered the number one anon. coin by the most people on the forums)? Please, use layman's language...?
At least there are smart people in their team (prophessors). http://zerocash-project.org/about_us

So this is not launched yet?
What type of emission is planned for this?

From the link


    Amazon.com through an AWS in Education research grant
    Broadcom Foundation and Tel Aviv University Authentication Initiative
    Center for Science of Information (CSoI), an NSF Science and Technology Center, under grant agreement CCF-0939370
    Check Point Institute for Information Security
    U.S. Defense Advanced Research Projects Agency (DARPA) and the Air Force Research Laboratory (AFRL) under contract FA8750-11-2-0211
    European Community's Seventh Framework Programme (FP7/2007-2013) under grant agreement number 240258
    Israeli Centers of Research Excellence I-CORE program (center 4/11)
    Israeli Ministry of Science and Technology
    The Leona M. and Harry B. Helmsley Charitable Trust
    Office of Naval Research under contract N00014-11-1-0470
    Simons Foundation, with a Simons Award for Graduate Students in Theoretical Computer Science
    Skolkovo Foundation under grant agreement dated 10/26/2011

The government involvement in this tells me that there is no damn way that this is anonymous.

Yes... But on the other hand from investor's perspective this actually can be a good thing. If gov. is backing something up it might become something, too.
Wether you like it or not, the gov. are surprisingly strong.

[Este Nuno]

Can someone please explain about Zerocash, why it is a potential threath to Monero (currently considered the number one anon. coin by the most people on the forums)? Please, use layman's language...?
At least there are smart people in their team (prophessors). http://zerocash-project.org/about_us

So this is not launched yet?
What type of emission is planned for this?

From the link


    Amazon.com through an AWS in Education research grant
    Broadcom Foundation and Tel Aviv University Authentication Initiative
    Center for Science of Information (CSoI), an NSF Science and Technology Center, under grant agreement CCF-0939370
    Check Point Institute for Information Security
    U.S. Defense Advanced Research Projects Agency (DARPA) and the Air Force Research Laboratory (AFRL) under contract FA8750-11-2-0211
    European Community's Seventh Framework Programme (FP7/2007-2013) under grant agreement number 240258
    Israeli Centers of Research Excellence I-CORE program (center 4/11)
    Israeli Ministry of Science and Technology
    The Leona M. and Harry B. Helmsley Charitable Trust
    Office of Naval Research under contract N00014-11-1-0470
    Simons Foundation, with a Simons Award for Graduate Students in Theoretical Computer Science
    Skolkovo Foundation under grant agreement dated 10/26/2011

The government involvement in this tells me that there is no damn way that this is anonymous.

Holy shit. I knew there were a lot of good academic minds behind Zerocash, but that list of funders is insane. I wonder what the context of this funding is. Whether these are just general research grants or specific funding for the Zerocash project.

Also, just because the US government funds a project doesn't automatically mean that it's going to be compromised. DARPA specifically is pretty general in terms of what they'll support. They did give us the internet after all.

[nakaone]

there is (was) one great inherent flaw in the implementation of zerocash. I think the tech-savvy guys here can explain it properly. I am not even completely sure it is still worked on the project.

[Este Nuno]

there is (was) one great inherent flaw in the implementation of zerocash. I think the tech-savvy guys here can explain it properly. I am not even completely sure it is still worked on the project.

Wasn't it the fact that there is a master private key or something that could mint money at will or something? Thus the need for a 'signing ceremony' or something where all the Zerocash is created and then that key destroyed? I actually don't think that's too much of a problem if it's done right.

[thelibertycap]

there is (was) one great inherent flaw in the implementation of zerocash. I think the tech-savvy guys here can explain it properly. I am not even completely sure it is still worked on the project.

Wasn't it the fact that there is a master private key or something that could mint money at will or something? Thus the need for a 'signing ceremony' or something where all the Zerocash is created and then that key destroyed? I actually don't think that's too much of a problem if it's done right.

https://wiki.anoncoin.net/Zerocash

Cons
1. Whereas Zerocoin can be set up in a trustless manner using RSA UFOs, Zerocash can not. The initial setup of Zerocash will require trusted third parties.
- i am not sure if there was some progress on this

2. The total money supply of Zerocash can not be monitored. If there is a security flaw in Zerocash (either with the initial setup parameters being known or cracked, or with software bugs), this would go undetected, potentially resulting in massive inflation of the money supply.

I also think the blockchain could be smaller than cryptonote. Also the nodes need less bandwidth to operate? could be more decentralized?

I have seen zero update on this project and it was supposed to be released Q4 2014 based on some early "guess-stimates"

The way they release the coins is also important - if it is IPO or something, it might not be very interesting.

Also there are other coins claiming to work on zk-SNARKs (which is what zerocoin basically is from what I understood)

It's a new crypto with some risks and undeveloped infrastructure.

It's a threat to monero and darkcoin but I would be more worried about bitcoin zerocash sidechains or perhaps dark wallet than another (late-comer) altcoin.

Edit: btw, anoncoin dev (very possibly a scammer or some naive kid some scammer hired) tried to implement zerocoin but days before the announcement he claimed he miscalculated and it will take months... lol. i think those people now started with a another pump based on an increased activity in the thread.

[rpietila]

The way they release the coins is also important

This is pretty much the only thing that matters.

Oh yes, if there is functioning privacy, it's nice to have. Or perhaps a wallet. But the former is impossible to ascertain for sure, and the latter is just a bonus (did both BTC and Monero for months without).

[david1365]

Please take a look on it:
https://bitcointalk.org/index.php?topic=679791.0
Why Navajocoin?
Because of this:
http://247cryptonews.com/navajo-cryptocurrency-decentralized-anonymity-through-double-encryption/
Please read carefully.
https://bitcointalk.org/index.php?topic=1001451.0

[racer2012]

Please take a look on it:
https://bitcointalk.org/index.php?topic=679791.0
Why Navajocoin?
Because of this:
http://247cryptonews.com/navajo-cryptocurrency-decentralized-anonymity-through-double-encryption/
Please read carefully.
https://bitcointalk.org/index.php?topic=1001451.0

Yes I tested it and it is 100% anon
the best coin of 2015 with
strong community and honest and hardworking dev team

[smooth]

decentralized-anonymity-through-double-encryption/

What are you guys going to do when someone comes out with Triple Encryption? Then you're fucked.

[Este Nuno]

decentralized-anonymity-through-double-encryption/

What are you guys going to do when someone comes out with Triple Encryption? Then you're fucked.

[ANN] NavajocoinDark: Triple Encryption Technology

[TrueCryptonaire]

The way they release the coins is also important

This is pretty much the only thing that matters.

Oh yes, if there is functioning privacy, it's nice to have. Or perhaps a wallet. But the former is impossible to ascertain for sure, and the latter is just a bonus (did both BTC and Monero for months without).

Depends on what are your motives/what kind of people are the devs.
Also depends on what you want from a coin - if it is a speculative way of making money most likely coins that have IPO type of release might be good, if you want fair coin, then your alternatives are different. Since I am not a miner myself I am not so much concerned on how the coin is released.
The problem with premine is obviously the lack of interest to develope a coin after the premine is dumped. Those devs are considered "bad ones" in my language despite they act rationally and as persons might not be more evil than any other human being.
If the devs are "good guys" (like Ripple or fiat-money) also IPO type of coin release is worth of considering.

[cAPSLOCK]

The way they release the coins is also important

This is pretty much the only thing that matters.

Oh yes, if there is functioning privacy, it's nice to have. Or perhaps a wallet. But the former is impossible to ascertain for sure, and the latter is just a bonus (did both BTC and Monero for months without).

Extending TrueCryptonaires point a little... The most important part about the coin release is the transparency and honesty part.  The style of release might be favored differently by miners, investors, developers, etc. But if you are releasing the coin in any way that is shadowy and especially if you DEFEND that release or justify it then you turn over your hand.

I think of a coin that is currently in the spotlight as one which will never be able to live down it's semi nefarious roots release wise.  The coin formerly known as...

And also Monero, which arguably had a few bumps early in its release (de-optimized hashing) is interesting.  But the different between the two is the Monero release was transparent and the dev team that took over the project shone light on everything they found very quickly.

Honesty makes a huge difference.

If crypto is "being your own bank", then at first we need to be able to trust the people building the bank.

[illodin]

The way they release the coins is also important

This is pretty much the only thing that matters.

Oh yes, if there is functioning privacy, it's nice to have. Or perhaps a wallet. But the former is impossible to ascertain for sure, and the latter is just a bonus (did both BTC and Monero for months without).

Extending TrueCryptonaires point a little... The most important part about the coin release is the transparency and honesty part.

Yes, until even more successful coin XYZ comes along, and then the most important part is the part which XYZ happens to mess up.

[david1365]

decentralized-anonymity-through-double-encryption/

What are you guys going to do when someone comes out with Triple Encryption? Then you're fucked.

OK.

[Este Nuno]

decentralized-anonymity-through-double-encryption/

What are you guys going to do when someone comes out with Triple Encryption? Then you're fucked.

OK.

Hey, I'm far, far from being a cryptographer, but I noticed your sig says "NavajoCoin Asynchronous Encryption Technology". That's kind of like someone advertising that they're selling a car with wheels I think. Maybe someone will correct me if I'm wrong.

[uvt9]

Hello, can someone put a sum up about Shadowcash ? I don't like POS distribution but from technology wise, what is its advantages and disadvantages compared to Monero ? I heard it has ring signature and ZK in bitcoin codebase which seems serious.

[othe]

Hello, can someone put a sum up about Shadowcash ? I don't like POS distribution but from technology wise, what is its advantages and disadvantages compared to Monero ? I heard it has ring signature and ZK in bitcoin codebase which seems serious.

Sure, here you have 2:

They also invented what i call the shadowcrap-dilemma:

1) To make a PoS Network "secure" you need to have nearly all wallets staking.
2) To make Ringsignatures "secure" you need all people to use them, always.
3) But you can't stake the tokens they use for anonymity, so being private and having a secured pos network can never be happen at the same time.

This is a typical example of getting fucked by your own greed.

Here i exposed the copying of bitmessage:

https://bitcointalk.org/index.php?topic=700087.msg8156416#msg8156416

That was the reason they closed the thread and now have a self-moderated one.


When i asked about their zk-snarks promises i was referred to google.com and called a cryptonote bagholder Fudster and that cryptonote is not going to last -  since then they copied cryptonotes ringsigs - lol.
https://bitcointalk.org/index.php?topic=700087.msg8156886#msg8156886


Stay away - shady as shit.

[Its About Sharing]

decentralized-anonymity-through-double-encryption/

What are you guys going to do when someone comes out with Triple Encryption? Then you're fucked.

I still find this funny, 2 days after I first read it and I was LOL then.
I was also pissed for not having realized the obvious in Triple Encryption. I gave that some thought and then glanced at the idea Quadruple Encryption and backed away.


A man enters a shop:
- Hey, I'd like to buy a wallet.
- Which color would you like it, sir?
- Red, please.
- 1GCAfZdNjU4ZjQuUKosZ1xcR2SZJK3uCBe

Funny thing, I just checked that address and there are 190 transactions, with a balance of 0.39396638 BTC. Looks like this is a way to earn a profit by integrating a BTC public key in... a joke in this case. I just get the feeling Crypto is not going anywhere and it will explode in ways most can't imagine. https://blockchain.info/address/1GCAfZdNjU4ZjQuUKosZ1xcR2SZJK3uCBe

[jehst]

The rise in alt:btc exchange rates is nice, but it's negated by BTC's continued fall. The people who bought Monero at $2 or Darkcoin at $15 last year are still suffering. When do you guys think that bitcoin will start going up?

[rpietila]

CKG (Crypto Kingdom Gold) is not a crypto, but it has an interesting distribution model. The initial 1,000,000 units were premined to me, although over 5 months. Half of them are distributed (mostly sold, but some gifted) to the players of the game and Monero supporters. The proceeds were used in development. Most of the rest will stay in the game perpetually as a Royal Stash, which will never be completely depleted, and can buy and sell smaller amounts and act as a liquidity provider in both directions. After the 1,000,000 coins are generated (already) and the Online Version 4 of the game is released (soon), every hour played will generate CKG to the players, regardless of the player level, or wealth, or computing power, or existing CKG position. We call this Proof-of-Play, and the CKG generated thereof is a fixed value per playing hour expressed in the purchasing power of a USD in 2014.

ANN thread for the listing to Poloniex. (Prior to listing, the marketcap of CKG is 500,000 XMR = 1,600 BTC = 380,000 USD.)