Even a cameo by @elonmusk. People are starting to wake up...
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Not sure anyone read the thing beyond the title:
Replying to @mk4_lul
not sure anyone read the thing beyond the title
tl;dr - if you somehow solved the laundry list of fundamental issues, then even after that you would still be roughly 7 years behind zcash
it's a synthetic ledger with significant tradeoffs, some of which are fundamental (can't be mitigated), and others requiring many, many years of work + new research to be published and scrutinized (assuming it can even work)
the Bitcoin L1 does not validate the private state, prevent double-spends, or reconcile the balances, that's enforced by some offchain protocol -- so, saying L1 transfers is not entirely honest
it also has:
- a trusted setup
- no fee anonymization (much worse than it sounds)
- no in-protocol mechanism for getting actual BTC in or out (which means you are holding synthetics)
- no real consideration for scale
- several offchain parts that can't be run locally which means tracing and linkage and censorship
- vulnerability to quantum without a plan
- no working implementation for witness encryption where the last used scheme was broken (!) and depends on 330 TB ciphertext. that's terabytes btw
(though they claim advancements here so let's see)
it only somewhat can work if:
i) you somehow acquire the private synthetic BTC inside their ledger to begin with (you cant)
ii) every counterparty recognizes the same offchain metaprotocol
iii) some trust minimized mechanism connects the synthetic balances back to actual BTC
iv) several other advancements are made to the scale, quantum, and foundational cryptography considerations, which is experimental and would require many years to establish (if at all)
point iii) specifically means that this is not fungible for the underlying
I respect that people are working on this and taking notes from zcash finally. but the claims on this app vs. what's established are light years apart
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Need devs to hire an intern for socials. Make quantum fun again….
@mert should have invested 🫠
We're excited to welcome @ns as a sponsor of Quantum & Privacy Day this October.
Network School is a community of founders and engineers who live and build together, and it was home to our first QDay event.
October 8 | Tower Club, Singapore
Apply to attend:
luma.com/jtof4o9b
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Wiping your ass with sandpaper may hurt.
Keeping your fridge and freezer closed is the best way to keep food fresh for as long as possible. - @nbcselected nbcnews.com/select/shopping/…
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My CT is now an office for me and my agents to work. What time to be alive.
.@Grok in your Tesla can now do meaningful work for you
With Connectors, you can manage your inbox, clean up your calendar, or talk through existing files/chat/tasks – all hands-free
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