but with no chain of signatures that anyone can check, no history of this coin was here and now it is there, you could slip new coins into the mix.
public code, public ledger = trust
I agree,, so make the code public also
If I was the creator or Monero and had a back door I could in fact make new coins and no one would ever know. There is no chain of signatures anyone can check.
You just said "you have to trust the dev teams" bull shit.... not on an open public POW ledger.
I am cringing that you assume you can trust monero
The creator of any totally anonymous coin can just make more coins after the coin gains momentum. The extra inflation would not be known
A dark coin means your trusting the guy who created the coin.
If I printed an extra 1,000 monero coins how could you know it????
The system is broken,,, we are moving toward a new system where if you did nothing wrong you would indeed have nothing to fear... that is what I want.
whoever created the dark coin could always just print more coins, on a dark coin who would know????
they simply won't get support if they don't and they need support
we control the governments, not through voting but through the economy. Greed runs governments. When it becomes popular politicians will do it.
I think privacy tools on top of a public ledger are better for "we the people" than a totally dark coin is. A dark coin is prone to attack,
It would only be worth mining data on a person if they were really bad people. Mining data on everyone would just be too much work. The juice would have to be worth the sqeeze
You could watch 1000 government accounts with ease, but you could never watch the 7 billion personal accounts. it would be like a bug bounty
the ability to use a block explorer to see some data is a powerful tool that really only works one way.
I could pay my taxes on the blockchain and literally watch my tax dollars get spent. If they end up in a whore house in vegas I know something is wrong.
We can use this feature to make it very hard for governments to waste money, or steal it.
My point is that an open and view-able blockchain is a feature that only works one way. We can vote to make governments use public addresses, while we use coinjoin.
I think he will flip one day.
