ZEC Reddit Mentions | ChartExchange

>People still bring up Bitcoin “mixing” from time to time, but it feels like that idea hasn’t really aged well.
When people use the term "mixing" they are usually unfamiliar or suggesting some scam mixing size. The term you want to refer to is coinjoin instead with services like wasabi wallet or joinmarket
>Purpose built privacy focused networks seem to approach the problem very differently.
Altcoins are offtopic here but I disagree
I would rather have higher degrees of privacy working on other layers like lightning, or sidechains(liquid CT) or wallets (joinmarket/payjoin) than the base layer because:
1) The auditability of inflation and the 21 million limit is critical. All complex privacy crypto solutions may have undetectable bugs that lead to very difficult to detect inflation. With Bitcoin everyone can easily audit the chain. With certain privacy coins their inflation resistance relies faith in the future of ECC security which might need to be upgraded in the future thus casting serious doubts on an inflation bug existing undetected.
2) It is important to give users the option of transparency and audibility onchain, at least for accounts they choose to expose.
3) In the future privacy coins will be the first to be banned and liquidity is super critical. There are good reasons why most DNM txs are still using BTC
It is far more likely they outlaw or restrict privacy coins (because they choose to market themselves as a privacy coin onchain instead of just giving users the option of privacy on wallets and other layers) as you can see here
https://archive.is/ZMAbo
>"Secretary of State Pompeo seems to confirm that the cryptocurrencies the federal government is watching most closely are privacy coins. If so, Monero (XMR), Zcash (ZEC), and others may soon be in some hot water if they are not banned altogether."
We are already seeing this occur with new regulations in the US where they are proposing to KYC the withdrawal address which would mean that exchanges will be forced to drop support of "privacy coins"
This is already occurring
https://bittrexglobal.zendesk.com/hc/en-us/articles/360018560640
https://www.binance.com/en/square/post/3817825785186
https://www.okx.com/help/okx-to-delist-several-spot-trading-pairs-12-29
4) privacy tech like ring signatures, CT, and zk-snarks has huge scalability tradeoffs and much higher resource demands leading to more centralization and greater inefficiencies.
5) cross-input signature aggregation incentivizes more use of coinjoin by making regular onchain transactions almost as small as regular transactions and lightning is designed to be extremely private from the get go. There is still an option to have transparency and give the allusion to regulators that they can track coins onchain however.
6) Taproot with signature aggregation can allow for UTXOs with untraceable swaps and indistinguishable payment channels. Taproot allows privacy txs to share the same anonymity set as regular onchain transactions thus eliminates the concerns with everyone forced to opt into a privacy Bitcoin wallet to have a larger anonymity set.

7) Privacy is a complex topic that has many nuances. Many privacy coins have lower tx fees(Bitcoin has lower tx fees on other layers) than Bitcoin onchain(mainly because they are hardly used and have low value) . Lower onchain tx fees can lead to the risk of very inexpensive attacks to deanonymize users as well. Bitcoin being designed where onchain fees will grow to cover the cost on security (and as explained privacy) and inexpensive txs occur on other layers(that are very private like lightning which is multihop and onion routed by default which makes coin analytics practically impossible) is the better balanced solution IMHO.
8) payjoin is a new way to become very private onchain and reduce the UTXO set while doing so , its already in btcpay and bluewallet
https://blockstream.com/2020/04/16/en-bitcoin-privacy-improves-with-btcpay-servers-p2ep-implementation/
9) Monero isn’t as private as many suggest and can be traced
https://github.com/supertestnet/examiner
https://moneroleaks.xyz/

.dark-mode .Xd10Qj{ color: white; background-color: #333333; border: 2px solid white; }.light-mode .Xd10Qj{ color: #333333; background-color: white; border: 2px solid #333333; }ZECUSDZcash / United States dollarcrypto Composite

ZECUSD
Zcash / United States dollar
crypto Composite