Thread - Nostr Hypermedia

I'm still learning how the verification would actually occur and be verifiable. I'm too ignorant to have an opinion. I get how Bitcoin currently works in the sense that all the transactions can be traced and have basic math operations performed on them to get a total supply. I can say that I don't particularly like that anyone can see my holdings and transactions and trace everything I've ever done. And I don't think it's reasonable to expect people to never make even a single mistake at any point ever lest they dox their entire history. I've considered the implications of having sats linked to some crime or identity and getting wrapped up in something that had nothing to do with me. I get that side of the issue. I don't understand why verification can't occur in some way that doesn't put everyone into clear houses. And this is an issue for individuals as well as governments, if they're to adopt sound money like most of us non-anarchists probably want them to.

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Replies (2)

Matt 🛸 matt@gitcitadel.com 3 weeks ago

Of course non-transparency has some downsides in the context of governments, but I think the privacy of everyone else outweighs them. Especially when you consider how difficult status quo shenanigans would be on a sound money standard anyway.

Hanshan hanshan@hanshan.io 3 weeks ago

in this case we can't sum the UTXO set. so basically instead of being able to perform those basic math operations, on the consensus level each transaction must prove that the sum of the inputs and the outputs are zero. a blockchain is a chain of blocks. inside those blocks are transactions. there isn't anything else. if each transaction proves there's no supply inflation, where else could there be supply inflation? did you see my post about "unknown unknowns?"