naval on nostr

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@naval 1720991936

Long term, we need private money or it just gets traced / taxed / seized by the state anyway.

But truly private money makes for a bad store of value. You can’t audit the ledger, so a bug could create unlimited inflation that would be hard to detect.

So privacy is how you move money, not necessarily store it.

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Kent Halliburton · 116w

Glad you’ve made the leap to Nostr. I hope this becomes your favored place to share wisdom going forward.

🇵🇸 whoever loves Digit · 116w

I'm not aware of any proof private money can't be made with auditable ledgers

My_friend_jimi · 116w

https://youtu.be/6tHO7xGx9fc?si=ovtZT1MR4mK9xED0

My_friend_jimi · 116w

John Mcafee was working on this problem while on the run from the US Government.

Chuck Langstrumpf · 116w

We do not need it long term, we need it now.

Bitcoin + Ecash

perhaps there might be a way to eliminate identity and maintain fluidity in the strength of transactions, making it self evident to expand common use cases

Decentralized · 116w

/dev/fd0 · 116w

I want to move 1 BTC privately without storing or getting rugged. What are the possible options?

cwilbzz · 116w

Lightning and ecash are pretty good for this

TheGrinder · 116w

Is this where Monero enters the room?

Vlad, Bitcoin Takeover Podcast · 116w

The Zcash sidechain that Drivechains enable is gonna be sick 🔥

puunchyyy · 116w

bolt 12 lightning is almost as private as it gets. Privacy and SoV are possible and will soon be achieved

nostrich · 116w

Monero Zcash Firo Grin Beam are the only solution now

Jeff Booth · 116w

Exactly - Bitcoin is a protocol bounded by energy that is coming in layers driven by the free market. Interoperability layer is lightning and then Fedimint/ecash - completely private with different trade offs. The combinatory nature of these + nostr in this protocol stack gives something that is ver...

Byzantine · 116w

shadow06 · 116w

We also need to replace cash.

Holomancer · 116w

Dash had a nice balance with built in mixers, you could just push a button in the wallet and get an endless stream of mixing txs. Of course it's not as private as zec, but it was information theoretically sound if you didn't accidentally recombine your utxos after mixing.

Holomancer · 116w

This is also why zec needs unshielded txs. How do you do price discovery if you can't see what other people are trading it for?

Daniel San · 116w

This is exactly what I said. So why did you block me on Twitter? 😂

Nëïgsëndöïg · 116w

Monero does a good job at both, which I do advocate for the use of (despite many Bitcoiners on here trashing me for it).

privacy and auditing on L1 Using zk-SNARKs, miners can issue new bitcoins to addresses controlled by users who burnt their coins while ensuring privacy and auditability. This method leverages advanced cryptographic techniques to achieve the desired outcome without compromising the integrity or tran...

So Tachi · 112w

In a world where Bitcoin is used for transacting If you create a new address for each incoming transaction Which part is not private here?

So Tachi · 112w

What you are suggesting is a tornado cash equivalent for doxed addresses Cashu is doing just that