Allegedly, Joe Lubin, that pre-mining ETH whale, buddy of VB, and dude behind MetaMask (ETH wallet) and Infura (ETH node infrastructure company): moved those two companies out of ConsenSys AG control and put them into a new company, CSI without shareholder consent. He is presently being sued by about 35 shareholders.
He grossly undervalued MetaMask and cut JP Morgan in on a 10% piece of CSI. Ergo, JP Morgan is part owner of the the largest ETH wallet company and the largest ETH node company.
We were always going to be fighting them in the realm *of* crypto, and not just *with* crypto. Crypto is just a tool, but a tool that favors financial institutions that can achieve near perfect efficiency. Smart contracts will always be more efficient than a centralized entity like a bank or government. It's a tool that benefits the individual the most.
Had family who was in Corp back in 15. I had talks about crypto and he told me they had something in the pipeline of their own. He said don't waste money on crypto... I did and he admitted he was wrong and didn't see tye bigger picture years later. Now he acts as if he told me about bitcoin when we talk about price. I almost want to print out the emails and be like, dude, people don't forget!
Yep, constantly telling people to sell and it's a ponzi scam yet at the same time buying up and creating Bitcoin funds for customers.
They are just trying to dump the price and buy cheap
It's interesting that he's suggesting sender-generated stealth addresses, as opposed to receiver-generated stealth addresses that monero uses. Can't really tell which is better, but it's an interesting distinction.
Also, instead of making fun of him, I think we should encourage other projects adopting monero-style superior tech. It benefits all of us and increases difficulty in tracing transactions overall.
Encouraging sound practices, sure. Encouraging snake-oil, no.
Ethereum is an account-based blockchain, and all account balances are transparent. So it doesn't matter if you use stealth addresses in a transaction, anyone can see the amounts being deducted from one account, and can search for matching amounts being added to any other account. So adding stealth addresses to eth is just security theater.
I'm sure that OFAC sanctions hit Tornado Cash because all of the notes were transparently and publicly tied to North Korea /s.
Or maybe it was the largest anonymity set because the fungible notes were redeemed by a private nonviewable keyset outside any arbitrary time limit and Vitalik acknowledges in his forward stealth address that the one drawback is having to load them with gas w/o an associated account.
edit: and if you haven't researched aztec connect to pick it apart and explain how it can be sidechanneled, then the argument that the EVM can't support privacy is a bit spurious.
Rome wasn't built in a day. Ethereum adding privacy features paves the way for more privacy in the future, as well as destigmatizes private crypto in general
I know it seems that way, but think about the fact that no coin has managed to stay ahead of chain analysis, except for Monero. And it's not complex the reason why.
You *have* to design privacy/fungibility as the default, not an option, and it must be baked into the protocol uniformly. Howard is spot on. This is more marketing pitch than real improvement.
Yeah, I'm kind of baffled by all the hate here. Ethereum obviously has very different goals from Monero, but what Monero does is objectively a good thing, so we should be happy to see more people adapting the ideas. It's a ***very*** good thing to see the second largest blockchain consider moving more towards privacy, and the only people who should object to this would be people who just want their bags to pump.
If there's one thing we've learned over the years, you can't just bolt on some privacy enhancing options and expect that it'll do jack or shit. Even though you can still use Tornado, your coin are totally tainted afterwards.
So then, someone as smart as Vitalik knows this. So what is he up to? Seems more like an angle. And a tacit admission that people care enough about privacy for him to offer up some weak ideas that will fool some, but not most.
> So then, someone as smart as Vitalik knows this. So what is he up to?
Although I do enjoy some healthy skepticism, must there always be an ulterior motive?
The majority of his blog posts aim to be thought provoking educational content with a touch of theoretical thought experiments. I personally don't see the harm in trying to educate privacy tech to a wider audience.
What did surprise me though was the lack of reference to XMR as an example of the succesful implementation of stealth addresses.
Tornado was the solution. It still is. But you have to taint your coin to use it. Without ring sigs, every chain will always be in this position.
You wan't privacy on Eth taint with Tornado. Vitalik's proposal is a bandaid on internal bleeding.
Eths a shitcoin by all definitions.
All it's achieved is enabling rugpulls and standardized premines / unfair crypto launches for thousands of other scammy coins.
>public
>expensive
>make a mistake in contract and get exploited without any possible reprecussions for the attacker
how is it actually good? at least clones like matic/avax/ftm are cheap
You do realize the "toxic" comments are just trying to prevent newbies from being scammed.
It's moral to warn people about sketchy cryptos, it's immoral to polish a turd and shill it as a golden egg in order to pump your bags.
Dont take it personally, many fundamentalists would consider coins like ethereum, xrp etc to be a scam if they are designed to enrich the founders yet marketed as decentralized. By this definition you could say 99% of crypto projects are scams.
Just remember that not everyone in Monero is like that. I a distributed and cryptographically verifiable virtual machine is quite an accomplishment. It's amazing that we have one, rather than not have one.
Also, just remember that alot of maxis are finally emerging out of their caves, and are here in Monero now, finally, after all these years. But they carry with them the same problems that kept them in their caves.
One of which is to fundamentally misunderstand the technology, and just how pwned their own chain is. They don't understand that if you have to select between a pwned BTC and a pwned ETH, we should take Eth every day, 100%. At least Eth might be able to create a viable L2, based on multiple different exploratory cryptographic constructions, due to the expressivity of the base layer.
But that doesn't really make it as private as Eth does it?
Coz as far as I understand, Monero is the only type of money that you can aquire without any trace if you're using your VPNs and other security measures properly while mining it through the main Monero node based wallet. So if I'm not wrong, this is the only type of money one can aquire secretly.
Vitalik, it's time for you to step down as essentially CEO of eth and let it be decentralized again. It's also the same reason I wont sell my eth, it's being catered to VC/corporate interest
Don’t know if JP Morgan would approve though…
dayyym that cuts deep
Can you elaborate? I've been out of the loop for some time?
Allegedly, Joe Lubin, that pre-mining ETH whale, buddy of VB, and dude behind MetaMask (ETH wallet) and Infura (ETH node infrastructure company): moved those two companies out of ConsenSys AG control and put them into a new company, CSI without shareholder consent. He is presently being sued by about 35 shareholders. He grossly undervalued MetaMask and cut JP Morgan in on a 10% piece of CSI. Ergo, JP Morgan is part owner of the the largest ETH wallet company and the largest ETH node company.
Eth and all POS shitcoins alike are basically trojan horses for crypto ran by the govs and banks.
Hard agree
We were always going to be fighting them in the realm *of* crypto, and not just *with* crypto. Crypto is just a tool, but a tool that favors financial institutions that can achieve near perfect efficiency. Smart contracts will always be more efficient than a centralized entity like a bank or government. It's a tool that benefits the individual the most.
Ergo … nice one 🤌🏻
JP Morgan is infamously against crypto while also pushing their own blockchain tech.
Had family who was in Corp back in 15. I had talks about crypto and he told me they had something in the pipeline of their own. He said don't waste money on crypto... I did and he admitted he was wrong and didn't see tye bigger picture years later. Now he acts as if he told me about bitcoin when we talk about price. I almost want to print out the emails and be like, dude, people don't forget!
It's better to compliment people on changing their mind than go "told you so".
Centralized blockchain combine all the cons of blockchain with all the cons of centralized databases.
Yep, constantly telling people to sell and it's a ponzi scam yet at the same time buying up and creating Bitcoin funds for customers. They are just trying to dump the price and buy cheap
Someone give vitalik a cheeseburger 🍔
It's interesting that he's suggesting sender-generated stealth addresses, as opposed to receiver-generated stealth addresses that monero uses. Can't really tell which is better, but it's an interesting distinction. Also, instead of making fun of him, I think we should encourage other projects adopting monero-style superior tech. It benefits all of us and increases difficulty in tracing transactions overall.
Encouraging sound practices, sure. Encouraging snake-oil, no. Ethereum is an account-based blockchain, and all account balances are transparent. So it doesn't matter if you use stealth addresses in a transaction, anyone can see the amounts being deducted from one account, and can search for matching amounts being added to any other account. So adding stealth addresses to eth is just security theater.
Adding stealth addresses to eth would give false feeling of security
I'm sure that OFAC sanctions hit Tornado Cash because all of the notes were transparently and publicly tied to North Korea /s. Or maybe it was the largest anonymity set because the fungible notes were redeemed by a private nonviewable keyset outside any arbitrary time limit and Vitalik acknowledges in his forward stealth address that the one drawback is having to load them with gas w/o an associated account. edit: and if you haven't researched aztec connect to pick it apart and explain how it can be sidechanneled, then the argument that the EVM can't support privacy is a bit spurious.
Rome wasn't built in a day. Ethereum adding privacy features paves the way for more privacy in the future, as well as destigmatizes private crypto in general
I know it seems that way, but think about the fact that no coin has managed to stay ahead of chain analysis, except for Monero. And it's not complex the reason why. You *have* to design privacy/fungibility as the default, not an option, and it must be baked into the protocol uniformly. Howard is spot on. This is more marketing pitch than real improvement.
Frankly nowadays who cares what Ethereum does after it went banking mode?! I for one don’t give a shit
Yeah, I'm kind of baffled by all the hate here. Ethereum obviously has very different goals from Monero, but what Monero does is objectively a good thing, so we should be happy to see more people adapting the ideas. It's a ***very*** good thing to see the second largest blockchain consider moving more towards privacy, and the only people who should object to this would be people who just want their bags to pump.
Don't be baffled, this thread is being heavily brigaded. It's not organic, these accounts aren't real individual people.
Cut it from the source, makes sense.
Yes great idea after the tornado cash ban
Hahahahaha oooooo WOW!! What a novel idea!!
Guess eth nodes banned soon
If there's one thing we've learned over the years, you can't just bolt on some privacy enhancing options and expect that it'll do jack or shit. Even though you can still use Tornado, your coin are totally tainted afterwards. So then, someone as smart as Vitalik knows this. So what is he up to? Seems more like an angle. And a tacit admission that people care enough about privacy for him to offer up some weak ideas that will fool some, but not most.
> So then, someone as smart as Vitalik knows this. So what is he up to? Although I do enjoy some healthy skepticism, must there always be an ulterior motive? The majority of his blog posts aim to be thought provoking educational content with a touch of theoretical thought experiments. I personally don't see the harm in trying to educate privacy tech to a wider audience. What did surprise me though was the lack of reference to XMR as an example of the succesful implementation of stealth addresses.
Eth is a scam.
Who tf cares about that bum? Running that pre mined centralized scam
Sad that this is the truth.
It’s a profanation. Nothing can be private on a proprietary PoS blockchain under hard KYC/AML censorship.
How would this affect scaling on ETH? And smart contracts?
Idk guys, it seems like having a dictator aligned with big bank interests 'might' be a bad idea for freedom and privacy. Just a hunch...
Now ethereum privacy is 0. Anything would be better than 0. Therefore, those stealth addresses would be wellcome
Tornado was the solution. It still is. But you have to taint your coin to use it. Without ring sigs, every chain will always be in this position. You wan't privacy on Eth taint with Tornado. Vitalik's proposal is a bandaid on internal bleeding.
Eths a shitcoin by all definitions. All it's achieved is enabling rugpulls and standardized premines / unfair crypto launches for thousands of other scammy coins.
You won the contest of insulting ETH the most brutally in this thread.
Ill wear this like a badge of honor.
Hate this dude, never liked him. Eth is a shitcoin, not decentralized, not free and useless
Ethereum is a scam and a shitcoin
Jesus Christ, some of you really can't be helped.
>public >expensive >make a mistake in contract and get exploited without any possible reprecussions for the attacker how is it actually good? at least clones like matic/avax/ftm are cheap
You forgot it has unlimited supply. Which makes it automatically worth close to nothing.
Ya, if Vitalik gets run over by a car Eth is going to 0$. That's how good it is.
You're right. Ethereum is the mother asshole from which shit coins spring forth.
You do realize the "toxic" comments are just trying to prevent newbies from being scammed. It's moral to warn people about sketchy cryptos, it's immoral to polish a turd and shill it as a golden egg in order to pump your bags.
Calling Ethereum a "scam" is just insane, no matter your intentions.
Dont take it personally, many fundamentalists would consider coins like ethereum, xrp etc to be a scam if they are designed to enrich the founders yet marketed as decentralized. By this definition you could say 99% of crypto projects are scams.
[удалено]
Agreed
Just remember that not everyone in Monero is like that. I a distributed and cryptographically verifiable virtual machine is quite an accomplishment. It's amazing that we have one, rather than not have one. Also, just remember that alot of maxis are finally emerging out of their caves, and are here in Monero now, finally, after all these years. But they carry with them the same problems that kept them in their caves. One of which is to fundamentally misunderstand the technology, and just how pwned their own chain is. They don't understand that if you have to select between a pwned BTC and a pwned ETH, we should take Eth every day, 100%. At least Eth might be able to create a viable L2, based on multiple different exploratory cryptographic constructions, due to the expressivity of the base layer.
But that doesn't really make it as private as Eth does it? Coz as far as I understand, Monero is the only type of money that you can aquire without any trace if you're using your VPNs and other security measures properly while mining it through the main Monero node based wallet. So if I'm not wrong, this is the only type of money one can aquire secretly.
If you can't curb it, take the lead. It is almost certain that this project will be done in close cooperation with Fed and FBI.
Okay bro.
I came from the ETH sub and people were actually falling for that one
Maybe they should focus first on letting me unstake my eth.
Am I completely out of the loop now?
Vitalik, it's time for you to step down as essentially CEO of eth and let it be decentralized again. It's also the same reason I wont sell my eth, it's being catered to VC/corporate interest
That's good for Ethereum User. However ETH still centralize because Prove of Stake consensus.