Cryptocurrency: Coin Privacy and Scaling (re: DHS Tracks Monero)

[grarpamp]

On 9/10/20, jamesd at echeque.com <jamesd at echeque.com> wrote:
> On 2020-09-10 12:37, grarpamp wrote:
>> So why should the underlying ZKP / Homomorphic tech
>> behind Zcash not be promoted?
>
> Maybe it should be.  But I would first have to understand it better.
>
> But what is killing bitcoin is its success - it is running headlong into
> the scaling law problems that I predicted in the beginning.

True. Tx bloat of physical blockchain was easy to predict back
then from simple math alone. Bitcoin-BTC has since moved from
"retail level tx" to "store of value" due solely to its limiting physics,
not the propaganda from its dev and pump dragon maxi circle,
which was a beg for continued relavance up against competition,
and a ploy by GovCorp to take over with CBDC's.

A future optimized coin will temporarily take over both roles
by scaling 10x-1000x the txrate BTC can handle. At which
point it too encounters its own physical limits forcing you
out to different coins for different things, until your computer
and network can't handle your routine needs for the bunch.
Legacy coinspace is nowhere near that optimized yet,
it hasn't even optimized BTC for txrate yet (though BCH
etc are working on optimization within the legacy
Satoshi model coins).

Suffice it that BTC can't even handle 50M-1B users
in "store of value" mode... it chokes and dies around
rougly 18M users when usage is say restricted to
even just the single use case of sending a monthly
paycheck from those users employers out to the users.

> There can only be one.

There is more than one Fiat.
There will be more than one Coin.
Maybe around 2-5 for monetary purposes,
another 3-10 for application purposes.
None of todays popular coins are likely
to be among the above future sets.

> One currency will rule the world.  For it to be a privacy protecting
> cryptocurrency, it has to scale, and Zcash does not scale.  Neither does
> bitcoin, but it scales a lot better than Zcash.

Neither Bitcoin-BTC nor Zcash-ZEC nor Monero-XMR "scale".
Nor can any cryptocurrency that has not yet evolved past,
and has no roadmap to evolve past, the legacy
concept of storing its entire blockchain forever
because its retarded legacy database model
requires it.

The notion that you just keep filling out central datacentres,
layers of privacy risk SPV, and central Lightning, etc is
ridiculous and are base model approaches taken way too soon
before having done enough new research into developing
new non-chain models.

Fully distributed decentralized uncensorable mineable
privacy coins *can* be built without needing to store
a blockchain forever.

And if it's not distributed uncensorable permissionless
unblockable mineable and privacy etc,
there's zero point in doing it because in the end
it will be no better than Fiat / CBDC.

> Any crypto currency must start with a plan for world conquest.

Scaling bloat from O(tx) *must* evolve down
to O(utxo) before that can happen.

ZKP, Homomorphic, etc probably hold some potential
application there for operating privately, upon consensus
over, and to synchronize deltas to, that much smaller database.

Nor are you going to ever create anything interesting
and competitive herein by using the legacy teams,
groupthink, self interest, and corruption around todays
popular coins. They must all be discarded.

A new set and family of anarcho cypherpunks must
arise to do the task.