100 sats \ 1 reply \ @om 3 May \ parent \ on: Where is Bitcoin and Lightning's Red Team? bitcoin
To protect us from attacks coming at a different angle, of course. No amount of energy burned would save us from vulnerabilities in the code. Your room likely has 4 walls instead of 1 for similar reasons.
You can call security research with a bad word but that doesn't change our need for security.
They can't ban Liquid but the exchangers can refuse to exchange Liquid USDT for EUR in the same way as they refuse tainted USDT on TRON without actually blocking the funds in the smart contract.
Furthermore, confidential transactions don't hide the input and output addresses. So an exchanger would see this: (10000 RUB changed for USDT) -> ??? -> (this guy wants 100 EUR from me) and connect the dots easily.
ok I was worried for a second that this would go into the direction of magiK...
but this is a good question:
how can you gain more knowledge of bitcoin and SN and make it work for you?
I like Lopp's collection: https://www.lopp.net/bitcoin-information.html
I don't think the goverment cares about nature of things at all. Does that thing allow Alice to pay Bob when the government doesn't want Alice to pay Bob? If yes, then the government will attack it.
Huh. I think the goverment did use everyting against TC.
don't transmit money, they "provide access".
Suppose you have a channel with Phoenix and you pay somebody through it. ACINQ is by your request negotiating a HTLC with you and with the next node on the path. The way government describes money transmission in the TC case (I mean USB cable / frying pan stuff), that looks rather like money transmission to me.
On the positive side, I believe ACINQ is not a CASP by the EU's definition.
OK, that's a different question but I'll try to answer it as well.
Despite its name money laundering covers not just money but any valuable. A better name would be value laundering. If ML charges could be avoided by shifting value into, say, gold, then somebody would make a gold payment network a long time ago.
So you think the government has permitted anybody to open a money laundering shop as long as the services are open to the general public?
I still believe that my interpretation makes more sense.
the lightning network is exactly the type of general network
wha? it's obviously a money-transsmitting rather than a general-purpose network.
Ecash is money as a piece of text that you can just copy and paste or transmit with a QR-code or with a private message or however you want. It's a bearer asset: you have the piece of text = you have money. Usually ecash is an IOU but European Union plans to issue euros as ecash as well.
Mint is anything that issues ecash. It's the job of the mint to prevent double spending. When you receive ecash, you need to contact the mint to make sure it wasn't already spent. If it wasn't, you get fresh ecash of the same value. If you want, the old coin is melt and a new coin is minted, hence the name.
Fedimint is the software for running a mint as a group. A group mint running fedimint is also called fedimint because "fedimint-running mint" sounds stupid. Cashu is the software for running a solo mint. Fedi is the app to use fedimints.
Which is excessively easier than what you're describing to me as they use RingCT 16.
Can't agree here. Fedi is very user-friendly. In comparison, XMR mobile wallets need you to sync the chain all the time. With ecash you can push money: "here, scan this, here's 1k sats for you" but with XMR you can only pull ("give me your address so I can send you some piconeros"). Mint transactions are final in seconds, there's no waiting for the next blocks to confirm.
ecash (at least as currently implemented) is an IOU note issued by the mint. Usually it's denominated in sats but both fedi and cashu can in principle support fiat denominations.
Fedimints are connected to LN through a gateway that exchanges between ecash and LN sats. For cashu mints, the mint itself is the gateway.