Author: LORD HIS EXCELLENCY JAMES HRMH 2021-03-04 05:06:55
Published on: 2021-03-04T05:06:55+00:00
In an email exchange on the bitcoin-dev mailing list, LORD HIS EXCELLENCY JAMES HRMH expressed concern about the potential implementation of Taproot and its possible effects on Bitcoin's transparency. He worried that it could enable Monero-like privacy features, which may harm Bitcoin's honesty and potentially lead to government bans. Jeremy Rubin responded by stating that Taproot does not enable anything that cannot already be done with Bitcoin today. He clarified that Taproot only allows for larger and more complex scripts to be done more efficiently using less ledger space. Rubin also pointed out that other techniques, such as coinjoin, payjoin, coinswap, and lightning, can already achieve obfuscation of the transaction graph in Bitcoin with or without Taproot.LORD HIS EXCELLENCY JAMES HRMH emphasized the importance of maintaining consensus values and transparency in the public ledger while also allowing for privacy in individual transactions. He noted that while Bitcoin allows for private transactions, it also enables government audits and the tracking of financial records. However, the email included links to WILLTECH, a company associated with Jambler.io, a Bitcoin mixer, which raised questions about HIS EXCELLENCY's motivations.In response to criticism from Ariel Lorenzo-Luaces about HIS EXCELLENCY's promotion of a Bitcoin mixer without proper disclosure, LORD HIS EXCELLENCY JAMES HRMH withdrew his initial objection to Taproot on the basis that it does not enable Monero-like privacy features and pledged to maintain Bitcoin's existing features. The email also included contact information for WILLTECH, as well as a disclaimer that the email did not constitute general advice.Rubin requested a source for the reporting on Taproot enabling Monero-like features and suggested rescinding the NACK. He explained that 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. In conclusion, the conversation emphasized the importance of transparency, privacy, and maintaining Bitcoin's existing features while also exploring new ways to improve its efficiency.
Updated on: 2023-06-14T18:25:11.921465+00:00