Cryptocurrency: Exploits, Austrian Libertarian, Privacy Coins Needed, Scaling Bloat, JPMorgan Flex, more...
grarpamp at gmail.com
Fri May 22 21:08:43 PDT 2020
“There is no country with more to lose from the disruptive potential
of digital currency than the United States,” say analysts at JPMorgan
Chase & Co.
Two faced Banks, Banksters and Govts giving accounts to crypto exchanges,
while buying cryptos to their pockets, shilling CBDC's, FUD dissing on OG
distributed unstoppable cryptocurrencies.
search: YouTube censored and deleted livestreams of the blockchain
halving event parties.
Early attempt at periodic table of cryptos...
$60/week of AWS spend, By running a rogue node tweaked to save all
intermediary transaction gossiping data. That's it! I was able to
uncover the exact addresses of senders and recipients for 96% Grin
transactions in real time.
Hardly any cryptocurrencies using TLS or interfacing well
with privacy/location/anonymous overlay networks either.
Consider also deploying satellite and GnuRadio integration.
Still no good distributed DEX's in operation with open APIs
for wide range of coins to plug into for cross-chain atomic swaps.
We describe remote side-channel attacks on the privacy guarantees of
Our attacks, which we validate on Zcash and Monero, enable a remote
attacker to identify the P2P node of the payee of any anonymous
transaction being sent into the network. This enables the adversary to
link all transactions sent to a user, to recover a user's IP address
from their anonymous payment address, and to link a user's diversified
In addition, for Zcash, we show that an attacker can remotely crash
any Zcash node for which the attacker knows a payment address, and set
up a remote timing attack on an ECDH key exchange involving a victim's
private viewing key. In principle, this attack can fully recover the
victim's private viewing key, thereby completely breaking receiver
'I think it’s remarkable that we’ve built a cryptocurrency where some
poor schmuck can’t spend their money without everyone on Twitter
knowing all the details and commenting about it.' -- Matthew Green
Centralized wannabee cryptos are all inflating, premining, founder
taxing, censoring, patenting, and governing your values down to
zero... just like Fiat.
External privacy tech like JoinMarket, CashShuffle, CashFusion while
handy fun... and spies in SPV and similar upstream thin client node
protocols... all risky for cryptos lacking native privacy in protocol,
Evergrowing blockchains of UTXO transaction logs are unneeded bloat
and a standing privacy risk. ZEC, XMR, BTC, BCH, ETH, pick any
toplist... these are all old legacy first generation coins regarding
storage. They cannot survive the dead weight of their own tx chainlogs
growing and clogging their infrastructure, clients, and bandwidth...
and that tx block history carried will be repeatedly raped by mass and
targeted privacy exploits. Coinspace must move lots of designthink
toward researching tech based on agreeing consensus over the much
smaller (and negligible growth) database that is their respective UTXO
8B humans * 512bit/8/2^40 ECC/PQC crypto = 0.5TiB of UTXO db state,
add generous 10x extra for consensus and distribution state ops,
cryptoprivacy overhead, etc... = max of say 5TiB, forever (grows per
human not per tx... 10M humans now = 6GiB, 100M = 60GiB,
1B = 600GiB ...). Global max fits on commodity flashdrive in 10 years.
Network and processing bandwidth remains only limit.
Watching the mining pool charts... the large pools are slowly killing
off the smaller pools. BTC.com and AntPool are both Bitmain, Nakamoto
Coefficient (a measure of decentralization) has dropped to 2, they
control 62% of the hashrate.
Welcome to joint problem of ASICs... central sole source ASIC Corps presale
mining out with their own HW first, then dictating preferred bulk sales channels
and destinations... and lack of personal responsibility to your own
held by running and adopting global commodity CPU/GPU mined ASIC-hard
coins, abandoning large pools for smaller pools. Avoiding your responsibilities
in these ways will get you censored and wiped out... just like Fiat. If it's
free no effort you take, you become the victim.
https://www.youtube.com/watch?v=fXqc-yyoVKg Hayek on Friedman and Keynes
https://www.youtube.com/watch?v=leqjwiQidlk Friedman on Cryptocurrency
"I don't believe we shall ever have a good money again before we take
the thing out of the hands of government, that is, we can't take it
violently out of the hands of government, all we can do is by some sly
roundabout way introduce something that they can't stop." -- F.A.Hayek
https://www.youtube.com/watch?v=G6S5c6xhXTY "Every destruction is a loss"
https://www.youtube.com/watch?v=tkQfK8hn0ds Mises on Friedman
https://www.youtube.com/watch?v=xtDM7VF3_Rc Friedman on Mises, Rand
https://www.youtube.com/watch?v=ymQoIt5k2AI Hoppe vs Friedman and Hayek
https://www.youtube.com/watch?v=DXGQDqN67YI Henry Hazlitt: Economics
in one lesson
https://www.youtube.com/watch?v=cle9IWPrBBs Mises on Money
https://www.youtube.com/watch?v=Wfyp_i7y1t0 Murray Rothbard: Gold Standard
https://www.youtube.com/watch?v=9z8u7Sz8n1c Frederic Bastiat: The Law
https://www.youtube.com/watch?v=5Vo7FOFpJYs Hazlitt: The Task Ahead
Happy Cryptocurrency Pizza Day.
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