On 8/20/19, cypherpunk@danwin1210.me
known problems with current cryptos
There are a number of qualities that a true cryptocurrency needs in order to fulfill even the most basic and primary of cypherpunk ancap money etc prophecies... qualities that Bitcoin-BTC does not posess, nor that its current situation is likely to produce anytime soon... BTC is too much dead weight history at this point. It's surviving today only as best of its legacy, not because it's the best that can be. (Some say BTC is playing a coy long game weasling itself in before changing its game again and really dropping the cypherpunk bombs like privacy and scale. But that's a very risky and unguaranteed wait for the world to take, thus not a wise game to accept.) Cryptocurrency, emphasis ***currency***, not a bunch of other bullshit features broadmarket opcodes appeasement etc that muck up its natural ability to power itself rapidly into a disruptive and adoptive new and free global currency. So many coins, including BTC, try to be so many things all in one they die under weight of their own whitepaper feature list that is entirely orthagonal to any cash currency they supposely claim to be, and self defeating since trying to code one feature limits ability to code another well (unless of course it's a generic compute platform upon which all features ride, such platform then by definition not a lightweight crypto *currency* and thus will never succeed as such.) Cash, cash, cash, cash, cash... doused in freedom and privacy... that's what even simple people recognize and want (and happens to be deliciously irresistable, easy to adopt and sell, even to statists)... that very simple wedge must come in lead and forge a disruption path... then all the other application coin can follow alongside nearby in its wake. BTC for example, not being privacy, thus isn't freedom or cash. To many it feels half done, like it's waiting for or deciding on some qualities, if they would make it a true whole, to be able to confirm its own existance. Finding minimum to meet prophecy, not loading it down with lots of app features, is a key to pulling it off... Privacy, uncensorable, unbannable, untraceable, p2p distributed, fair no premine, no governance, no partnerships, not sueable, no staking / PoS, no inflation, negligible fees, no independant side channels, no token layers, no stored blockchain, no bloat, no surveillance, just checkpointed UTXO db formed from incoming mined tx stream, shard elements into distributed hashring lookups as needed, PQC path, and developed only by anons operating entirely within the darknets, pushed out to the world, surviving on its merits alone, no financial backers, no IPO, no voice, just code. Probably ideally, mineable by million of users at home which may mean gearing to CPU GPU or at least non proprietary commodity opensource sub $100 USB ASIC so that users everywhere are the mining cloud to somewhat offset or guarantee against corruptive potential of dedicated mining enterprise rising up (though mining enterprise will not commit suicide, they can be adversarial and beholden to profit, thus hardly in natural alignment to users freedom). Note clearly, governance aka government always fails, from corruption, dead weight, invasion, masses, even compromise, etc... and it failed BTC and all contenders to date in some way or another. To pull it off you either need BDFL in good health for at least 10-20 years post release perhaps with 1-3 cophilosophers as second on deadman... enough years so that it becomes so entrenched and decidedly won that it's well beyond reach of any remaining govt and corporate types trying in vain at clawback. Or a new as yet uninvented nonhierarchical repo to which anyone can permissionlessly commit and where end users define what code modules make up the right release for them... a chaos of forks, a perpetual global convo on which elements people should select to run, where only the least common denominators to meet prophecy would survive as the ongoing consensus with highest height UTXO db. With all the risks that such herd democracy might entail. This option is really too complex and undeveloped to be of use today. Though a genuine cryptocurrency does not need one, a rock solid unwavering blood pact, consistant on point, do or die, global education and outreach community that takes no prisoners, bends no knee, and tows no line, one that only explains why resistance to prophecy is futile... Today there are too many disorganized sheep voices, out for themselves with their own irrelavant blockchain product and generally shilling so much shit... all have forgotten to keep and carry forward the original gangster message that made it possible for them to exist in the first place. They failed to understand they need to contribute back and forever to a solid base to stand on... though pouring water can grow helpful and needed trees, they're creating useless mud instead. The OG must be brought back to heart and held out front at all times and in everything that is done by everyone, under recognition that a true cypherpunk cryptocurrency is the primary enabling goal and sustainer of all their life. Else the adversaries of all of their freedom... government and corporation... will continue to retain and grow subjugation of them.
What would happen if a group of anonymous hackers released free software for the perfect cryptocurrency that resolves all the known problems with current cryptos?
Users will exchange value into it over time as usual.
What if it contained *provably* secure PKI infrastructure, as opposed to the current mere assumptions about factoring and discrete logarithms?
Needs more detail, please define. To any meaning being on... Post Quantum Crypto, zero knowledge, homomorphic computation... those may indeed be a long term position... but they have hardly been "proven" aka: fully developed, individually and in combination, widespread cryptanalyzed in the literature, and subsequently presented and deployed worldwide such that enough people (applied cryptos, developers, code libraries, users) can grasp and support it. So long as above it is a *currency only*... cash, it makes it easier to adopt such things as needed, a deployment based on today's typical best crypto suites can migrate to any better via users expecting from education on day one that spending UTXOs forward is the way to enable agility to maintain defensive crypto and improve network protocol.
Would anyone recognize its value?
Yes.
Would anyone use it?
Yes. (And seems unclear whether importing BTC UTXO as legacy inherit into the new coinbase ala BTCP would be useful in adoption there, perhaps not. And certainly should not be done if it would in any way limit it from becoming a true OG cryptocurrency, don't restrict new design model to accomodate other legacy).
Would entrenched interests spread FUD all over it?
Yes. Expect and ignore it. (And McAfee among others did a focus-wasting disservice promoting specific edge coins, tokens, IO's, etc. His voice belongs on agnostic OG stage helping establish true currency ways of thinking and benefits worldwide.) A true honey badger currency doesn't really give a fuck about those three questions. Especially in these early days while time still exists to create one (and an environment around it) that has much more than even odds at ripping through various nests. https://en.wikipedia.org/wiki/Honey_badger Over ten years into blockchain has brought a lot more knowledge and tech that could now be mashed together into a simple feature limited and highly effective crypto*currency*. Is a privacy and reasonably globally useful txrate cryptocurrency unstoppable cash so unappealing to develop because for it to succeed they must be disinterested in its control for their own direct profit, leaving the only ones left to do it quietly as the true dreamers, the next Satoshin... Those having ideas on doing anything in that cash space should not hesitate to give it a run. Things like GnuPG, Tor, BTC, OpenBazaar, Augur have shown that privacy, anonymity, money, markets, freespeech, and even cryptopolitics are all at least individually tolerable and feasible. Now it is time to push those limits and go for more grand slam cypherpunkery by putting all the elements together, improving them, making them mass efficient, and unleashing the next wave of operational application space upon the world by no later than say 2025. To that, what is the point of all this appeasing that the cryptocurrency and blockchain space has been doing the last years, of the million people in it but all sheep, this failure to speak in unison to denounce and ignore silly govt regulation over their life their new crypto creation, even such simple thing as their own money... or of trying hope of trick government and banks and corporation into allowing some slow blockchain trojan horse to enter their castle, to risk letting govt make their new "laws" and not you your own, to not woo and convert their princes and maidens to you, to not simply rise and cast off chains when you are already so close... what point this is if you cannot achieve and enjoy it in your lifetime. They have forever, you don't... be, achieve, enjoy... now. And may whoever's first post of such badgers out from the darknet into the world be via the cypherpunks list this time (instead of Perry's censored fiat list). "The Times 03 Jan 2009, Chancellor on Brink of Second Bailout for Banks" "Cryptocurrency: A Peer-to-Peer Electronic Cash System."