Author: Erik Aronesty 2021-03-03 14:49:08
Published on: 2021-03-03T14:49:08+00:00
A member of the bitcoin-dev mailing list, LORD HIS EXCELLENCY JAMES HRMH, expressed concerns about potential privacy features enabled by Taproot. They argued that one of the benefits of Bitcoin is its honesty, with all transaction details published on the blockchain. Any change that allows for the obfuscation of transactions could provide unlimited impetus for governments to ban Bitcoin. Speculation is that this is the reason India has already banned cryptocurrencies.The individual supports expanded use cases for Bitcoin without harming established fairness and equity but insists that the core values and functionality of Bitcoin must remain unaltered. Another member of the group questioned the sincerity of their concerns after citing their affiliation with a Bitcoin mixer website. However, after receiving clarification that Taproot does not enable privacy features similar to those found in Monero, the individual retracted their negative acknowledgement (NACK). In a previous email, they stated that their concern was not increased privacy but rather maintaining the transparency of the blockchain and consensus values. The original post clarifies that Taproot only enables more complex scripts to be done more efficiently, using less ledger space. Thus, any objections should be leveled at bitcoin itself. The discussion also touches on the value proposition of Bitcoin, the need for proper disclosure when discussing transaction privacy, and the availability of privacy suitable for cash without disturbing existing consensus.
Updated on: 2023-06-14T18:26:50.968287+00:00