I don’t know what continuing to argue this point can possibly achieve.
Bitcoin has no privacy because it does not use encryption, or any other confidentiality primitive. Digital signatures are not encryption. Hashing is not encryption.
It’s not helpful to say that Bitcoin uses other cryptography and that other cryptography is kind-of-like encryption somehow. If we were talking about commitment schemes or zk-SNARKs or other forms of blinding, that might be helpful, but we’re not. Digital signatures are nothing like encryption and do not provide confidentiality, which is the point. Hashing, as used in Bitcoin, also does not provide confidentiality [*].
No.
[…] based on the message “bitcoin does not use encryption in any form” is still not true, bitcoin does not use encryption to achieve confidentiality, this is how the phrase should sound.
No, “Bitcoin does not use encryption in any form” is 100% true, in letter and in spirit.
[*] Really pedantic exception: hashing the script in a P2SH output keeps it hidden until it is needed in order to spend from the output. But this doesn’t provide any meaningful privacy; it has only a minor advantage in preventing the public key (for the most common forms of script) from being attacked until the script is revealed.
Hope that cleared things up for you guys. Thank you [Daira] for helping me out with this one, you are very intelligent and thankful to have you around here. We owe a lot to you btw, and you are a legend in my book for what you and others are doing here, especially with Halo. --Not sure if its maybe a language barrier I think they said they were Russian so I know google translate does not work the best…
Very cool news. Zcash is still very undervalue and should be trading close to the value of XMR imo. Historically over the past couple years the two have been much closer in price. I won’t be surprised if ZEC is trading at $90-$100 in the next few days along with XMR.