--- Log opened Thu Apr 15 00:00:26 2021
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13:47 < stortz> belcher : kind of a random question, but would it be possible to implement RingCT into bitcoin? and what would be the potential trade-offs?
13:47 < belcher> bitcoin would just become a copy of monero then wouldnt it?
13:48 < belcher> a big downside is that it becomes unknown whether coins are spent anymore so the UTXO set, that every full node has to carry, would grow and grow much faster
13:48 < belcher> also the CPU and disk io usage required by a full node would also go way up, i know if you took the current txes/sec of bitcoin into monero, then regular CPUs couldnt keep up
13:49 < stortz> got it
13:50 < belcher> its easy to add privacy by adding more decoy data... but that also increases costs (equal-output coinjoin also suffers from this problem)
13:50 < stortz> so it's a performance + blockchain size issue
13:50 < belcher> the most worthwhile avenues IMO are adding privacy by _removing_ data from the blockchain, so like lightning network or coinswa[
13:52 < belcher> stortz heres a link to a short debate i had about it on the monero subreddit https://www.reddit.com/r/Monero/comments/h9dhcy/maam_monero_ask_anything_monday_june_15_2020/fux80q8/?context=2
13:52 < stortz> alright I'll read it
13:52 < belcher> a pro-monero commenter had a chance to check my calculation of CPU usage, and 10 months later never did
13:56 < stortz> could tapscript be used to tackle fungibility?
13:56 < stortz> I guess that's impossible to know now
13:57 < belcher> sure it does help, one of the many pieces
13:57 < belcher> see https://en.bitcoin.it/wiki/Privacy#Script_privacy_improvements
13:58 < belcher> the soft fork in progress today called taproot for short, but is actually a combination of schnorr signatures, taproot and mast
13:58 < belcher> also this https://twitter.com/chris_belcher_/status/1332424346225270785
13:58 < stortz> ye I know
14:00 < stortz> so if it becomes indistinguishable a tapscript from a ln closing channel, you could possibly make a huge channel mixer and never have any proof that those funds were inside a mixer, right?
14:01 < stortz> if I'm reading this right
14:03 < belcher> sure
14:03 < belcher> especially if taproot is used very commonly on the blockchain
14:03 < stortz> nice
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--- Log closed Fri Apr 16 00:00:27 2021