I was wondering what viewpoints and opinions this community has when it comes to cryptocurrency.

Personally, I’m not against it, but I’m not for it either. I like the concept of bringing back cash anonymity, and also decentralization (obviously). Although I don’t think it will be viable for at least another decade.

  • taladar
    31·
    9 months ago

    Just simple thing like that you should (almost) never use an address twice removes a lot of the privacy concerns.

    Then how do you connect the incoming money to the outgoing money (and split it up or combine it in the process assuming most income flows do not exactly match a spending flow exactly in value)?

    • voracitude@lemmy.world
      52·
      9 months ago

      edit: since the well-akshullies are out already, I’ll say this is massively simplified because anyone who cares about the actual cryptography or terminology can go read the fuckin docs; it’s detail that isn’t necessary here.

      Wallet addresses are just the public part of a public/private key pair. You can generate another public key with the private key so the address is different, but your private key can still sign transactions for both addresses.

      • taladar
        13·
        9 months ago

        That is not how public/private keypairs work in most algorithms but even if it was, the fact that the public key is used to verify the signature comes from a specific private key means that both (or all) public keys could validate all transactions signed with that private key.

        • voracitude@lemmy.world
          51·
          9 months ago

          I recommend you read BIP-44 since this has been a standard for years in Bitcoin. Your other crypto knowledge seems woefully out of date as well, from your questions in your other post. Time to brush up, I think.