48
submitted 11 months ago by [email protected] to c/[email protected]

New California law limits cash to crypto at ATM machines at $1000 per day per person and also the fees that can be imposed by the machines.

The industry says this will hurt the business, hinting that they're profiting from the lack of KYC policies

I don't see any legitimate use from those machines. Who would have a legit need to exchange $15k from cash to crypto at 33% fees????

you are viewing a single comment's thread
view the rest of the comments
[-] [email protected] 2 points 11 months ago

https://www.getmonero.org/library/Zero-to-Monero-2-0-0.pdf

Chapter 5 page 43. Address how amounts are hidden. Commitments, and range proofs, but ring CT is the thing you really care about - The main mechanism by which transaction amounts and spend limits are verified.

Ring CTs, range proofs both rely on bulletproofs.

The zero to monero document references the bulletproofs, but does not go through the math and that document. If you want to also verify the bulletproof math here's the bulletproof paper https://eprint.iacr.org/2017/1066.pdf

[-] [email protected] 2 points 11 months ago

All transactions are listed on the chain. All transactions can be linked to a wallet to prove the liquidity of the wallet.

Therefore all previous transactions made by a wallet are public record.

Not, anonymous.

[-] [email protected] 3 points 11 months ago* (last edited 11 months ago)

The whole point of range proofs, and bulletproofs, is the ability to prove a transaction is balanced, without revealing the transaction history.

Ring CT, and key images, prevent double spend and prevents transaction history from being public.

I've given you the reference documents. If you'd like to read those documents and then discuss the details with me I will engage you in a reading group no problem.

But just repeating the same point back at me without reading what I've indicated or even acknowledging what I've said isn't productive for either of us.

I want to thank you, however, I've been meaning to go through all of the paperwork on monero. And this gave me an opportunity to do so.

[-] [email protected] 2 points 11 months ago* (last edited 11 months ago)

You are hinging the claim of non-anonymity on a previous transaction on the wallet having linked a real-world person to the wallet, but that is not a given. Additionally, you could simply use a new wallet for each transaction to avoid (or at least massively minimize) this.

I don't like cryptocurrency, but your claim is kinda like saying that TLS between you and your bank is not secure because I shoulder-surfed you. That's not a failure of TLS (or in this case, their anonymization system), it's a failure of your own privacy practices.

this post was submitted on 23 Oct 2023
48 points (100.0% liked)

Technology

37604 readers
127 users here now

A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.

Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.

Subcommunities on Beehaw:


This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago
MODERATORS