I hate when n00bs make me repeat the same shit over and over and over again. Do you think my time is free?
The masterkey has to be produced in a way that no one knows it. The proposals had been to use a public ceremony and a computer examined by everyone attending, to be sure the masterkey is unknown to anyone.
Note if the masterkey is known, that person can create coins out-of-thin-air, but he can't unmask the anonymity. That is a crucial distinction.
This is why I proposed the idea of using Zerocash as a mixer that eventually times out, so that we can be sure the mixer hasn't created any new coins. Everyone going into the mixer takes the risk that they may not be able to come out of the mixer if the attacker has already created coins. Then we could have many of these mixers in a free market, and users would decide which mixers they trust. Again anonymity is never compromised and the run on the bank can only be a loss to participants, not to the entire ecosystem. I am pretty sure this solves the problem and this is why we can take their open source and beat them.
I am loaded with ideas and designs to solve real problems in crypto. Hopefully some smart devs are going to realize they are better off working with me.
I am aware of that. However, for an stand-alone altcoin creating coins out-of-thin-air is just as detrimental as unmasking the anonymity, because both will likely result in the coin dying.
I already proposed a solution in my prior reply to you that is using their technology in ephemeral mixers, which thus avoids systemic risk and reveals which mixers are compromised (which is likely to be quite rare because participants will learn to judge which masterkeys were generated correctly at ceremony).
Free markets always work best as long as systemic risk is avoided.
RingCT has the same problem. I explained in I believe both the chess thread and my Zero Knowledge Transactions thread. This is another reason I abandoned it (in addition to the inability to get reliable anonymity since it doesn't hide meta-data the way Zerocash/Zcash does).
No it doesn't, because coinbase transactions are mixin = 0 in Monero and therefore you can check if the total supply hasn't been tampered with.
Wrong! Wrong! Wrong! Exemplifies that you are a n00b who should STFU.
If there is a flaw in the cryptography for proving the homomorphic sums (and that is new cryptography), then indeed the attacker can create new value out-of-thin-air and not be detected. I am not going to explain the examples and math again. I already did in the past. Go ask Shen-noether.
You should have paid attention the last time I explained this! You always want to use me but then you don't respect me enough to reward me[1] and then you expect me to correct for your inability to study and remember my posts carefully.
I don't think you should bet against them, because Zerocash has anonymity and nothing else does! The community will make sure it is peer reviewed. We must. You had better start figuring out how to transition and pronto.
I don't say I do. eb3f stated on reddit the following: "Monero uses ring signatures, as you may know, which is battle-tested and well-understood in the cryptography world and in practice". Even with community review it will take a long time to get to this state. I also don't agree with bolded here, but I won't go on a back-and-forth discussion with you over that.
Again my point is that you could have the safest snot in the world, but if people can't use snot for anything, then they are going to put their energies into perfecting and peer reviewing what they need.
Seems you all often miss the points entirely. They fly right over your heads.
I do agree that the new cryptography for Zerocash and zk-snarks is more complex than the new cryptography for homomorphic proof-of-sums for RingCT (or my ZKT), but I don't think that helps given the meta-data problem for RingCT/ZKT/Cryptonote (and every anonymity technology other than Zerocash). What is the point of pursuing a direction which is known to be unreliable and fundamentally flawed (in a way that can never be fixed), when we can pursue a direction that fixes the meta-data problem and is a matter of convincing whether the technology is sound with much peer review. Certainly the peer review can be done over time, and probably incentivized if the technology has a popular application.
I'll let others which are more knowledgeable comment on the metadata.
Please don't tell me I will have to waste more of my time defending an obvious point (for anyone who has the slightest technological understanding).
I am frustrated how much fucking time we waste. You all have been convincing yourselves in your little delusions for years of what ever circle jerk bubbles you prefer to be in (which often include ridiculing/dismissing me).
Edit: correction:
[1] I was rewarded by smooth, jl777, and rpietila. Big thanks to them. Very much so. I am just frustrated because I need a viable financial direction and we need to work smart and find a way that we can make these matters work in our favor. And I am trying to find people who value me and find a way to get it done.
