Are cryptocurrencies ready to handle large number of transactions?

James A. Donald jamesd at echeque.com
Mon Dec 25 20:20:37 PST 2017


On 12/26/2017 12:58 AM, Michalis Kargakis wrote:
> Not a ready implementation yet but the mimblewimble protocol solves a 
> lot of the scalability issues plagued in other blockchains.
> 
> https://scalingbitcoin.org/papers/mimblewimble.pdf
> https://github.com/ignopeverell/grin/blob/master/doc/intro.md

Maybe I am understanding this imperfectly, but this hides how much you 
are paying, and thus how much you have, but does not hide whom you pay 
it to.

Suppose HHitler create an evil fascist website, and requests donations 
in mimblewimble coins.

Let us call the public key advertised on that evil fascist website HHitler.

Ann buys mimblewimble coins on an exchange, using US$, and has to give 
her true name and an image of her true face.

Won't the mimblewimble blockchain show that Ann gave an unknown amount 
to HHitler, whereupon antifa goes around and kills some girl whose face 
superficially resembles that of Ann, and then the judge lets them off as 
well intentioned good guys?

As the judge recently let off a black man who killed a white man and 
then took his wallet, and subsequently claimed, without racist 
inconvenience of actually needing to produce any evidence, that the 
white man had called him a n****r

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