Crypto Progress General - /cpg/

Yes it is

lightning network has something like 5 or 6 fundamental flaws that are each enough to individually end such a project. And on the discussion of tax avoidence, the lightning network allows the government to freeze your bitcoin wallet by controlling major nodes and also allows for nodes control what kinds of transactions are acceptable ect.

Those two things I just mentioned were not even included in the 5 or 6 fundamental flaws either. LN is catastrophically bad.

If there is not enough nodes onion routing security is compromised. The same way the FBI has gained nodal control over tor will happen to LN unless they expand.

Monero appears more of a threat to them than LN does. They're worried about it.

This ended up getting shifted to talking about LN which HAS NO ROUTING SYSTEM CURRENTLY. The routing system for the LN does not yet exist as it has never been figured out yet.

Anyway, dont allow that idiot to redirect the conversation which is very important. Fuck the LN.

Weird that youre mad about LN not working.
Youd think deluded cashies would be encouraging it if its bad for BTC

bait ignored. KYS pretty please with a cherry on top.

So anyway, Monero is very scary to them, but I think we need a privacy coin that is better at scaling to take over. If I am not mistaken Monero has the same scaling issues that BTC has right?

“MEMORANDUM FOR RECORD

SUBJECT: Additional resource request for ACC project

2nd Battalion’s joint NSA/CPT [Cyber Protection Team] anonymous cryptocurrency project needs additional support in the form of new hires and additional funding to meet GWOT [Global War On Terror] and drug interdiction objectives outlined in July’s Command update brief.
• Requesting authorization to add additional civilian consultants to the ACC project and to initiate their SCI investigations
• Requesting additional funds for class 7 and 9, amounts indicated in attached cost analysis worksheet.
The success we have had with Tor, I2P, and VPN cannot be replicated with those currencies that do not rely on nodes [?]. There is a growing trend in the employment of Stealth address and ring signatures that will require additional R&D. Please reference the weekly SITREP [SITuation REPort] ON SIPR for more details regarding the TTPs involved.

>The success we have had with Tor, I2P, and VPN cannot be replicated with those currencies that do not rely on nodes

Good chance LN was built to be compromised. This is why Monero development will be crucial for security.

Roger ver said mt gox was rock solid

>Monero is very scary to them, but I think we need a privacy coin that is better at scaling to take over. If I am not mistaken Monero has the same scaling issues that BTC has right?
Yeah and I believe Monero does have some security flaws as well. Might have to go dig through the talk thread.

It will be important to develop Monero but it shouldn't be the only privacy coin. Hopefully more people are going to start developing priv coins because of it.

Good chance bcash is a gov psyops to fragment the bitcoin community

Go home gov't you're drunk

Im ok roger, thanks.
Or should I call you agent roger

> This is why Monero development will be crucial for security.

Is Monero really the only coin that has the functionality to scare the establishment? I mean a Monero wallet with a simple lottery functionality would be devastating to any establishment entity.

But I can see things going a lot further if

1. The coin can scale to a much greater degree
2. Instead of just mining, the ability to stake also makes it a lot harder to control. Staking functionality makes it so its super difficult to track down who is able to generate more coins.
3, If the wallet itself had a fiat gate that would be out right brutal. Even if it was shut down it would cause wide spread panic on establishment entities. It would be shots fired so to speak.
4. A simple flag on the wallet to make it so its ok to suddenly receive random donations.
5. A video game based auction house built into the wallet. So a very simple RPG or gambling casino maybe. Bonus if its actually a half decent little game that it would attract outsiders to use the coin.

All in all its the scaling issue. But its really contingent on having a wallet that is its own entity and is very difficult to lock down.

>Is Monero really the only coin that has the functionality to scare the establishment?
Currently it is the prime on they're focusing on. I do think it has flaws though.

Scaling is a problem that every coin is going to have to figure out sooner or later. There are smarter people than us working on it.

The lottery and donation functions would be a major blow and panic for the system. There could even be a communal lottery/donation function so everyone has a distributed obfuscated amount of money every day at any time, making it impossible to say where funds showed up from.

A fiat gate would be amazing but it would have to be entirely anonymous and I'm not sure how that would be accomplished in the current climate.

I dig the video game auction idea, it would be interesting to basically make a virtual tax haven exchange where the items are equal to crypto-crypto trades and can be exchanged on the auction house.

I think its also important to keep in mind that we may be moving into the next generation of crypto that will revolve more around actual use cases. Privacy in and of itself is possibly an ok use case but the real diamond in the rough, pie in the sky, giant middle finger would be a project as large scale as say EOS or maybe a full blown social media page where the entire thing is just layers deep of encryption. Something that holds up on its own two legs as a useful platform.

Its very much a shame that Minds.com went with Ethereum over something like Monero.

> There could even be a communal lottery/donation function so everyone has a distributed obfuscated amount of money every day at any time

That reminds me! Religion is another aspect around this. Communal lottery / donations, fund raisers you name it. Its not out of the question that researching into what it would take to form a kind of religion around a decentralized technocracy is probably something needs to happen anyway. I mean there is a lot of baggage that comes with that but long term Religions are well known for tax avoidance.

> A fiat gate would be amazing but it would have to be entirely anonymous and I'm not sure how that would be accomplished in the current climate.

A fiat gate would only serve the purpose of scaring them shitless. It would fail but it would be a way to force their hands. I am personally curious as fuck as to what they might try to do. We have to poke the hornets nest at some point really hard to see what we are really dealing with. Is it going to be like the movies or are they basically going to roll over and play dead?

A well publicized fiat gate would be hilarious. Even if it wasn't private. lol

>That reminds me! Religion is another aspect around this. Communal lottery / donations, fund raisers you name it. Its not out of the question that researching into what it would take to form a kind of religion around a decentralized technocracy is probably something needs to happen anyway.
Holy shit I totally forgot about religious tax exemption. There's also 501c/non profit things that could be done.
brb registering Our Lady of the Blockchain heh

Make sure the doctrine is not toxic please. A Scientology would be rather scary if it formed around a crypto. Like I would be more scared of that than the government. imho

I was joking but totally something to keep in mind.
If anything a blockchain church would probably be humanism focused.
Can't make anything too cultish or else they'll just WACO us so scientology-esque ideas are best avoided.

Thats a whole other can of worms filled with other cans of worms anyway.

Other aspects to explore, actual hardware devices design just around this kind of technology. Not just like wallets but more private devices that allow person to person transactions to be much easier. No need to even carry your phone with you ect.

Something like that would be pretty easy to make. The problem is making it universal so that everybody uses that product and also it can use all kinds of cryptocurrency not just the major ones. I would imagine it would be best to have its own inbuilt exchange platform.

Another thing to keep in mind is that. What if its not a "coin" but rather something new. Maybe a name that is meant to be confusing as to the nature of what it actually is.

Market the project as something else entirely that just so happily / accidentally does this whole privacy thing.

> lol we didn't even think about that! We just wanted to see a service that reports the weather or acts like snap chat!

A huge part of this is the psychology behind it. Sell the project as something completely innocuous so it can hide in plain sight.

>A huge part of this is the psychology behind it. Sell the project as something completely innocuous so it can hide in plain sight.
Blockchain pokemon go....the normies flocked to that stuff like crack addicts. Something like that could boost attraction to the product. A geotag based game that just so happens to allow for crypto exchange.

Well maybe not geotag for security reasons.

On that note, techniques to transform all coins into privacy coins in at least some limited way. Having privacy wallet functionality even if the coin itself is not meant to be private.

This kind of solution is one of the reasons why privacy in and of itself is not a good use case to back an entire coin. It could bubble burst if someone discovers how to transform ALL coins into semi fungible assets in some way.

> Blockchain pokemon go....the normies flocked to that stuff like crack addicts. Something like that could boost attraction to the product. A geotag based game that just so happens to allow for crypto exchange.

Yeah exactly, and nobody bought it for its privacy. It was actually more of a spying tool anyway. Nonetheless its a very good idea to think outside of the box on this and hit it from completely new angles. The IRS is dependent that their definitions of crypto remain the same. Once you fuck with that it will force their hands to begin drilling deeper. Monero mon would be hilarious. Or even just a simple chat program to allow you to talk to friends! It has over 1000 different emojis! HOLY COW!

>Or even just a simple chat program to allow you to talk to friends! It has over 1000 different emojis! HOLY COW!

One of the emojis only unlocks if you have over ten thousand chat points! HAHA its so fun!

Collect buy and trade you emojis today!!

On that note, can we PLEASE!! Super pretty please one day force the IRS to tax emojis. I want to fucking see this happen before I die. I will be laughing for days maybe years.

>Collect buy and trade you emojis today!!
This could totally work with how the population is today.

Its good to get the ball rolling on new interesting ideas. I think games will definitely be something to look more into. It has to come out with the game being the main idea behind it, crypto being the back burner part of it. Oh we didn't know it could do that...unintentional

>inb4 pinkjack emoji

>inb4 pinkjack emoji

A monero based chat program would probably be pretty much another 4 chan honestly. only issue is that once profit incentives come into play you get a shit load of spam and manipulation ect.

Either way, market it for teens, make sure there is no real central entity to control it. crowd funded meme campaign propaganda for marketing. blockchain and low overhead so it can survive even if nobody really uses it. micro transactions involving emojis. Ability to trade emojis for other emojis in an auction house.

Just connect the dots, play as dumb as possible "We only used blockchain because its cheaper than storing it on servers! Browbeat anyone who criticizes the privacy aspect "We care about people! Facebook is evil yada yada."

> Lol we had no idea that these emojis hold actual real world value! XD This is just for FUN!

>Either way, market it for teens, make sure there is no real central entity to control it. crowd funded meme campaign propaganda for marketing. blockchain and low overhead so it can survive even if nobody really uses it. micro transactions involving emojis. Ability to trade emojis for other emojis in an auction house.
Memetrader and emoji trader. All those pepes suddenly have real world value.

Well much like Jow Forums we'd probably want some spam protection, post times and what not. Don't want everything to get fucked because pajeets pile in. But if theres enough real world adoption and usage people would notice the spam. Perhaps that would help keep it down by being sheerly over powered by the user amount.

Perhaps it would start as a dapp, can't put it on normie app stores without ruining security/decentralization.

>Perhaps it would start as a dapp, can't put it on normie app stores without ruining security/decentralization.

If its just a dapp then on ETH, NEO, ADA, EOS ect... blockchains then finding a way to transform those coins into a fungible asset would be important. But it could work. Technically its possible to make a dapp that can turn any coin into a privacy coin.

>IRS fud everywhere
>thread actually discussing crypto tax avoidance
>just me and this guy
Jow Forums.

this thread is being lurked so hard right now.

That's how you know you're doing right

Both of your ideas are legit dogshit tier.

>monero xyz

Kill yourselves. Ethereum is already showing the way forward: unstoppable world computer. Get on board

If the dapp could turn it into a privacy coin could that then be integrated with the auction house idea? It ends up in your itemized list as an in game item/emoji/meme whatever.

yeah. Honestly the sky is the limit if the dapp functionality is any good. The important thing is that all of you begin thinking about new ideas.