this post was submitted on 22 Jun 2024
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[–] [email protected] 2 points 4 months ago* (last edited 4 months ago) (1 children)

I mean just because you say some pithy thing at the end doesn't make it wrong. Nobody should still think, in 2024, that Bitcoin is in any way anonymous. If you want privacy you don't use Bitcoin.

I guess that makes me a shill for Monero 🙄

[–] dhork 1 points 4 months ago (1 children)

Bitcoin is pseudonomynous. If you are careful it can be anonymous but that is not a guarantee.

Monero is anonymous, as anyone who uses it will remind you about, repeatly. Monero users are the vegans of crypto.

[–] VictoriaAScharleau 2 points 4 months ago (1 children)

i thought monero's mixer was show to be susceptible to poisoning.

[–] [email protected] 1 points 4 months ago (1 children)

I'm not sure I understand the question... Monero doesn't need a "mixer," that's kind of the entire point. You swap your BTC (or literally anything, shoutout to godex.io) for XMR and poof, it's gone.

Unless someone gets physical access to your wallet keys, there is no way for anyone to know where that money went, where it came from, or where it will go in the future. For all intents and purposes, it's invisible.

[–] VictoriaAScharleau 2 points 4 months ago (1 children)

I seem to recall that the anonymity of car is based on obscuring transactions through bundling, but that method was deanonymized by poisoning wallrts somehow. this was like 10 years ago so my memory is fuzzy.

[–] [email protected] 1 points 4 months ago* (last edited 4 months ago)

I seem to recall that the anonymity of car is based on obscuring transactions through bundling

Car? Autocorrect maybe?

I'm not XMR fanboy or expert, and it is some beautiful mathematics, but wayyyyyy over my head. That said, you might be referring to "ring signatures" that I guess you could say "bundles" the transactions together but that would be far too reductive, it's way cooler and more complicated than that.

If I recall, there was talk of possible attack vectors, so they made it even more private. I'll let wiki explain:

The transaction outputs, or notes, of users sending Monero are obfuscated through ring signatures, which groups a sender's outputs with other decoy outputs.[14] Encryption of transaction amounts began in 2017 with the implementation of ring confidential transactions (RingCTs).[8][15] Developers also implemented a zero-knowledge proof method, "Bulletproofs", which guarantee a transaction occurred without revealing its value.[16] Monero recipients are protected through "stealth addresses", addresses generated by users to receive funds, but untraceable to an owner by a network observer.[8] These privacy features are enforced on the network by default.[8]

https://en.wikipedia.org/wiki/Monero#Privacy

So it looks like it was 2017 when they changed things. I know there was some discussion of switching from RingCTs to zk-SNARK (a form of "zero-knowledge proof") which, in and of itself, is an amazing cryptographic concept. I implore you to check out the wiki on it if you have any interest in cryptography or mathematics I think it's brilliant: https://en.wikipedia.org/wiki/Zero-knowledge_proof

So yeah, according to wiki, it seems as though they adopted zero-knowledge proofs... So not only ring signatures, but RingCTs (encrypted), plus ZKP, makes Monero pretty impenetrable. Which I think is cool af. As an engineer, I like seeing a typically abstract field/form of math be used in practical, real-world examples, as it doesn't happen often.