Finally! Real privacy for Bitcoin transactions from some Core developers

Greg Maxwell made a VERY exciting announcement for some real cutting edge stuff: a way to get full privacy with transactions in Bitcoin!

The great thing about this is, unlike ZCash, this new method:

  • Doesn't use untested new cryptography
  • Can be high performance (compared to alternatives)
  • Doesn't require a trusted setup
  • Doesn't break pruning

There is a video here that describes confidential transactions in more detail. But the exciting announcement today is a way to make confidential transactions work with a size overhead only 3 times that of normal transactions. When combined with the further privacy improvement of CoinJoin or ValueShuffle, there is virtually no size overhead and no trusted third party or sharing of private data is required!

Thank you Greg, Pieter, and other Core team contributors for this excellent work on confidential transactions, coinjoin, and working on the theory and engineering to bring this to Bitcoin! Exciting developments! Thanks also Benedikt Bünz, Jonathan Bootle for your discovery of BulletProofs and Dan Boneh, Andrew Poelstra for your work on this.

Update: As /u/pwuille pointed out, while the size overhead is 3X (or less per transaction w/ coinjoin), the CPU overhead for verification is still an order of magnitude higher than regular transactions. But we'll know more once they start working on an implementation.

submitted by /u/fortunative
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Reminder: Congress has no authority to tell you what currency you may use in legal voluntary transactions. You have a right to financial privacy and it is your RESPONSIBILITY to Defend it.

Stop cucking around with this congressional power grab. Instead tell those leeching fucks in D.C. to get the fuck out your biz, they are obsolete and have no authority. GTFO with that bullshit bill.

submitted by /u/CONTROLurKEYS
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IPv6 and Bitcoin, privacy risk?

Im not great with networking, especially IPv6, but my ISP must have enabled IPv6 as Im starting to see peers both in and out with IPv6 addresses.

I dont have a static IPv4 address, and releasing/renewing it is as simple as restarting my gateway, but IPv6 comes from the host, so is that going to tie transactions to a specific device?

Im not personally very concerned, Im just trying to understand more about how the network operates.

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