The Perfect CryptoCurrency... and the Next Satoshin Punks...

[grarpamp]

On 8/20/19, cypherpunk at danwin1210.me <cypherpunk at danwin1210.me> wrote:
> 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."