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Monero's big problem, right now, is that the fees are high - around $3. They're working on "Bulletproofs" that will reduce the size of transactions, and hopefu
by jatsign 9y ago
Monero's big problem, right now, is that the fees are high - around $3. They're working on "Bulletproofs" that will reduce the size of transactions, and hopefully fees, by 80%.
Zcash has more advanced crypto, but it takes nearly a minute to generate a private transaction on a normal computer.
My favorite "privacy" coin is PIVX. It uses the zerocoin protocol and is fast with low fees. Die-hard privacy advocates don't like it because it uses Masternodes, but I consider that a plus from an adoption point of view.
Here's a privacy coin comparison of these & others, if anyone is interested.
https://www.bitcoinbeginner.com/blog/privacy-coin-comparison https://www.bitcoinbeginner.com/blog/privacy-coin-comparison
- jameskegel 9y agoThis needs a source because it is not true at all >Zcash has more advanced crypto
- jatsign 9y agohttps://z.cash/technology/zksnarks.html https://z.cash/technology/zksnarks.html I suppose by "advanced" I meant new. It's equally fair to say "not as well validated by crypto researchers".
- ianmiers 9y agoWhats the throughput on PRIVX? Last I checked, Zerocoin transactions were 25kb and the deployed versions were limited to one anonymous TX per block.
- plopz 9y agoHow do you feel about MimbleWimble?
- the_stc 9y agoThe problem is that miners cost in USD but Monero fee is set in XMR, fixed. If fee goes down 80% but XMR/USD goes up again 5 times then the problem persists. Not an easy thing to fix! If Bulletproofs and the new CT format come in and the mandatory ringsize is increased to a level providing some privacy, the fees would be very worthwhile. But with ringsize 5 they are certainly excessive! We should hope they increase to at least 10. After ringsize, the difference between 1/2 and 2/2 txn continues to be an issue. Or at a minimum a wallet update could fix some of these things issues. Better ring member selection that does not include odd ring sizes or in/out numbers. If you are a seller and receive 2 payments from a user then you send that money to a known place (maybe exchange) you have are now near 100% traceability! This is because even with high-ring-size, the chance of both known-bad inputs happening in one tx is very low. Currently Monero is doing a great harm to users by not having a prominent warning. Monero should adopt Tor Project attitude and tell users: Making a Monero transaction does not give you full privacy. Then link to a bit more nuanced discussion about churn and traceability. Especially for people that receive multiple payments! Monero may encourage people to rely solely on Monero (without churn) for privacy, to their downfall. And even churn has a big disclaimer from MRL. They say in some <vague> conditions churn is statistically detectable. Maybe a big issue for dark net vendors that often receive payments then churn then send to their exchange... Disclaimer: I am running an extrajursidictional company and dealing with payments will become a major focus as we start to pay out dividends and need to do so in an untraceable fashion. Plus...in a few months I will need to draw salary so this is very near-and-dear to my heart!
- ifdefdebug 9y agowtf is an "extrajursidictional company"? Do you mean you are running a tax evasion scheme?
- the_stc 9y agoAn extrajurisdictional company operates outside of existing jurisdictions. It might be helpful to think of us as being headquartered in space...if our opsec is correct, we might as well be! (Otherwise I'll be arrested and our contingency procedures will kick in to work with the successor.) It is not for tax evasion: we fully intend to comply with tax law everywhere we offer service, though there are some practical issues. We chose EJC vehicle due to worldwide laws on sex work and unregulated securities. For example: In the U.S. mere advertising sites run the risk of legal persecution. How much more so for a full escorting platform?
- arethuza 9y ago"extrajursidictional company" sounds like an oxymoron to me - companies are legal constructs (at least by any definition that I have heard) so having a company "outside" a legal jurisdiction would appear to be impossible?
- the_stc 9y agoCompany can refer to a group or team in addition to the legal construct. As a thought experiment if someone winked into existence in orbit around Earth and started selling data, it seems quickly understood if they were to call themselves a company.
- nu-world-odor 9y agoyou mean you're a pimp then
- deadmetheny 9y ago"Short-term relationship facilitator" is a far more marketable term, though
- indescions_2018 9y agoThe other competitor being mentioned on dark markets is XVG: https://vergecurrency.com/ https://vergecurrency.com/
- 45h34jh53k4j 9y agogood luck with that: http://xvg.keff.org/ http://xvg.keff.org/
- Turbots 9y agoThis has been proven to be fake and lists transactions that are not using the wraith protocol and are not meant to hide the op addresses
- jatsign 9y agoCan you show a dark market actually discussing it? Verge has got to be the worst privacy coin.
- Turbots 9y agoDo you have arguments why?
- ErikAugust 9y agoHave you taken a real look at the Verge codebase? https://github.com/vergecurrency/VERGE https://github.com/vergecurrency/VERGE
- nerdponx 9y agoWhy PIVX instead of Zcoin itself?
- jatsign 9y agoI don't think it's for a rational reason tbh. Maybe I just like the stupid name. The two are very similar (with znodes now out for zcoin).