satoshiwaves

bitcoin

A new Simple money-blockchain design

https://np.reddit.com/r/CryptoTechnology/comments/kyhgcv/are_there_any_public_cryptocurrencyblockchain/

![btc.jpg](https://m.stacker.news/16459)

Grin MimbleWimble

  Let's focus purely on design, and not talk about price, profitability, popularity, people/parties involved. Design aspects include;

* consensus model
* protocol
* proof of work algorithm
* difficulty adjustment algorithm
* smart contracts
* utxo/account model
* block size
* block interval
* block chain or graph
* codebase
* security
* censorship resistance
* scalability
* use of zero knowledge proofs
* resource consumption for full nodes or light clients
     * disk usage
     * memory usage
     * bandwidth usage
     * sync from scratch
* decentralization
* emission
* fees
* spam resistance
* (avoiding) wealth concentration
* supply auditability
* cryptographic assumptions
* quantum resistance
* design complexity
* privacy aspects like
     * confidentiality (hiding amounts)
     * stealth addresses
     * tx graph obfuscation/hiding







Simple & Secure Design



    Simple emission

    Simply fair. Simply disinflationary. Decentralize the wealth.

    Simple block interval
        One minute. 60 seconds. 60 coin subsidy.

    Simple consensus

    Proof of Work. Most cumulative difficulty wins.

    Simple protocol
        In (pure) Mimblewimble, outputs are Pedersen commitments r*G+v*H
        combining value v and blinding factor r into a single curve point.
        The blinding factor serves both to hide the value and to control ownership.

    Simple audit
        Σ unspent-outputs = Σ kernel + offset * G + height * 60e9 * H
        Each kernel is a provable commitment to 0 (as is offset * G)
        height * 60e9 is the expected number of nanocoins emitted in height blocks.

    Simple PoW algorithm
        Cuckatoo Cycle. Find a 42-cycle in a huge random graph. Instantly verifiable in 42 lines of code.

    Simple Difficulty Adjustment
        diff’ = diff * 4-hours / (4-hours - 60-seconds + last_block_time)

    Simple mixing
        CoinSwap can non-interactively mix thousands of self spends each day or hour.

    Simple scripting
        No scripts, aka scriptless scripts.
        Supports nearly all Bitcoin script functionality, with none of the complexity:
       multi-signatures, atomic swaps, discreet log contracts, bidirectional payment channels, etc.

    Simple implementations
        Small Rust and C++ codebases.

    Simple security
        Complexity is the enemy of security. Keep it simple to keep it secure.

The basis of **_human freedom_** depends on money **decentralization** and **privacy**.

@satoshiwaves's bio

THE DIGITAL IRON CURTAIN

I don’t think enough people see this for what it is. A Digital Iron Curtain is gradually descending over the West.

- It’s the FedNow quasi-CBDC
- It’s the 87000 agents
- It’s stepped up financial surveillance
- It’s attacks on every exchange
- It’s expanded civil forfeiture

All of this is against the backdrop of sovereign debt crisis, commercial real estate collapse, and a historical crash in bond prices. Basically, the US is bankrupt many times over, Western central banks themselves need bailouts, and DC is making it ever harder to exit to crypto.

So if you’re caught on the blue side when the music stops, there’s a scenario where everything you own will be seized to pay the state’s unpayable debts. Just like the countless examples of financial repression and communist wealth seizure that happened in the 20th century, which Dalio among others has tabulated.

Yeah, I know, many don’t think it can happen. Despite massive fires burning down freeways, mobs surrounding cars, open air drug dealing, soaring prices and feces, rampant looting and criminality…somehow it doesn’t register with them and they still think it’s the 1950s or something.

They’re caught in the illusion of Barbie rather than the reality of BLM. They haven’t thought through how nasty these mobs will get when the money runs out. They don’t know what the early Soviet era was like, the combination of anarchy and tyranny, of total lawlessness and lawless seizure.

For everyone else who has some inkling of what may come, they’ll need to choose which side of that Digital Iron Curtain they land up on. Red states are probably better than blue. And foreign states are probably safer than red. A good rule of thumb is to be as far away financially, physically, and socially from bankrupt Blue America as possible.

Because if 2008 was about bank bailouts, soon we’re going to see central bank bailouts. Reverse bailouts, where your currency is debased to bail out the government. QE wasn’t free.
https://ft.com/content/226d61dd-b9db-4c92-b51e-1f0da5205eeb

![yellen-doj.jpg](https://m.stacker.news/6182)

![F_f0sP4a4AAaqXs.jfif](https://m.stacker.news/6183)

by Balajis