Re: [bitcoin-dev] Taproot NACK

From: Jeremy <jlrubin@mit•edu>
To: LORD HIS EXCELLENCY JAMES HRMH <willtech@live•com.au>,
	Bitcoin Protocol Discussion
	<bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Taproot NACK
Date: Sat, 27 Feb 2021 08:14:27 -0800	[thread overview]
Message-ID: <CAD5xwhhxw7RhwMWSxa76HZqefpVcJidVpzE7Vbzk+hsD6zfUHQ@mail.gmail.com> (raw)
In-Reply-To: <SL2P216MB00896C65DECD973205D17ABE9D9F9@SL2P216MB0089.KORP216.PROD.OUTLOOK.COM>

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I have good news for you: Taproot does not enable monero-like privacy
features any moreso than already exist in Bitcoin today. At its core,
taproot is a way to make transactions with embedded smart contracts less
expensive, done so in a manner that may marginally improve privacy
dependent on user behavior (but not in the monero-like way you mention).
For example, it makes it possible for lightning channels to look
structurally similar to single key wallets, but it does nothing inherently
to obfuscate the transaction graph as in monero.

Such "monero-like" transaction graph obfuscation may already exist in
Bitcoin via other techniques (coinjoin, payjoin, coinswap, lightning, etc)
with or without Taproot, so the point is further moot.

Do you have a source on your reporting?

You may wish to rescind your nack.

--
@JeremyRubin <https://twitter.com/JeremyRubin>
<https://twitter.com/JeremyRubin>

On Sat, Feb 27, 2021 at 5:46 AM LORD HIS EXCELLENCY JAMES HRMH via
bitcoin-dev <bitcoin-dev@lists•linuxfoundation.org> wrote:

> Good Afternoon,
>
> It has been reported that Taproot will enable some Monero like features
> including the ability to hide transactions.
>
> If that is the case I offer a full NACK and let me explain.
>
> A part of the benefit of using Bitcoin is its honesty. The full
> transaction is published on the blockchain. If that were to change so that
> transactions may be obfuscated from scrutiny then any government would have
> unlimited impetus to ban Bitcoin, and speculation has that is the reason
> India has been reported to have banned cryptocurrencies already.
>
> I am in support of the expanded use case of Bitcoin without harming the
> established robust fairness and equal equity offered. The core
> functionality of Bitcoin, its values, must remain unaltered.
>
> KING JAMES HRMH
> Great British Empire
>
> Regards,
> The Australian
> LORD HIS EXCELLENCY JAMES HRMH (& HMRH)
> of Hougun Manor & Glencoe & British Empire
> MR. Damian A. James Williamson
> Wills
>
> et al.
>
>
> Willtech
> www.willtech.com.au
> www.go-overt.com
> and other projects
>
> earn.com/willtech
> linkedin.com/in/damianwilliamson
>
>
> m. 0487135719
> f. +61261470192
>
>
> This email does not constitute a general advice. Please disregard this
> email if misdelivered.
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists•linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>

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