Are cryptocurrencies ready to handle large number of transactions?

[Steven Schear]

Clearly they are not, yet. The problems are somewhat multi-dimensional and
the way forward isn't assured. If some counters wanted to scale a
"Bitcoin-like" chain to handle, on-chain, the average transaction volume of
PayPal (about 120/sec.), quite a coup, it would require (by my reckoning) a
block size of about 64 MB. The Bitcoin Unlimited people are planning to
test blocks much larger. Clearly, this would likely result in considerable
miner concentration, unless, as Garzik's recently announced Bitcoin United
(which includes a "our" Escher feature) takes over Bitcoin Corey's mantle.

On Dec 25, 2017 8:21 PM, "James A. Donald" <jamesd at echeque.com> wrote:

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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