Re:Blockchain Is Dangerous Nonsense
by ooaa on Thursday April 28, 2022 @06:52AM
(#31190995)
There is no way to actually proof that.
Monero has more privacy and with it come other problems. There could be someone mining 1000 Monero per second and no one would know because the ledger doesn't allow you to see who has how much.
[ Parent
| on HN ]
>> When alls said and done, the initial promise isn’t even kept, there’s very few “super miners” who if they worked together would be able to control the entire bitcoin economy, which is the situation with central banks.
> There is no way to actually proof that.
Every day it becomes more and more true; even if you can't prove that it's true now (which, it probably is true now) it will eventually be true, economic effects cause centralisation: https://www.nasdaq.com/articles/how-centralized-is-bitcoin-m...
> mining 1000 Monero per second
They couldn't mine it, but if someone somehow learned the number h such that H = h * G (where G,H are the generators of Pedersen commitments), then they could undetectably mint arbitrary amounts of Monero.