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<H1>Cryptocurrency: Coin Privacy and Scaling (re: DHS Tracks Monero)</H1>
<B>jamesd at echeque.com</B>
<A HREF="mailto:cypherpunks%40lists.cpunks.org?Subject=Re%3A%20Cryptocurrency%3A%20Coin%20Privacy%20and%20Scaling%20%28re%3A%20DHS%20Tracks%20Monero%29&In-Reply-To=%3Cd04e9060-76f8-4a7c-f6af-1571f80eeaab%40echeque.com%3E"
TITLE="Cryptocurrency: Coin Privacy and Scaling (re: DHS Tracks Monero)">jamesd at echeque.com
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<I>Fri Sep 11 01:58:03 PDT 2020</I>
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<PRE>><i> On 9/10/20, <A HREF="https://lists.cpunks.org/mailman/listinfo/cypherpunks">jamesd at echeque.com</A> <<A HREF="https://lists.cpunks.org/mailman/listinfo/cypherpunks">jamesd at echeque.com</A>> wrote:
</I>>><i> There can only be one.
</I>
On 2020-09-11 14:54, grarpamp wrote:
><i> There is more than one Fiat.
</I>
Not really. The US dollar is supreme, and if it falls, something
else will be supreme. China may replace the US dollar, but it has
not yet.
><i> The notion that you just keep filling out central datacentres,
</I>><i> layers of privacy risk SPV, and central Lightning, etc is
</I>><i> ridiculous
</I>
The lightning network could in principle solve both scaling problems
and privacy problems, but you will have to design your crypto
currency around its lightning network, rather than trying to fit
the lightning network to existing bitcoin.
The lightning people have a forked bitcoin, but I think their fork
sucks and their network sucks. But I don't think it has to suck.
Maybe they will get it right eventually. Satoshi proved that it
is important to get something out there that sort of works, even if
it has known flaws. Easy to criticize the existing lightning
network - and easy to criticize bitcoin itself, but bitcoin changed
the game forever.
Scaling is the problem that needs to be fixed. We want a coin that
is scalable and private.
A lightning network that did not require trust, or even
identification, of entities performing correspondence bank
like functions, would provide privacy as well as scaling.
We would get darknet entities performing bank like functions.
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