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one very annoying thing about the normie discourse around crypto and privacy "it's untracable super-moneylaundering-money" etc, is that it's not just wrong, it's backwards crypto is LESS PRIVATE than tradfi, and this is a massive fucking problem

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It has strong cryptography protecting transaction amounts and stealth addresses are fine. The decoy part of the privacy model isn't perfect and can be analyzed in a probabilistic way. There's a permanent record of everything so leaking any information is quite bad and it does.

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Zcash shielded pool has strong privacy for everything within it but unlike Monero, it has a split between the shielded pool with z-addresses and transparent addresses outside it. Transparent addresses are much more widely supported and often used as an on/off ramp for it.

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For example, we take Bitcoin, Monero and Zcash donations for GrapheneOS and use a Trezor Model T for the main wallet. For Zcash, we can't use a z-address yet since Trezor still has to finish implementing support for it, and we'll also probably wait for support in their wallet.

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People can donate to our transparent Zcash address from the shielded pool where no one can see where it originated, but they can see the amount arriving at the transparent address. Ideally it would eventually only be possible to send to a z-address and it would be a clear winner.

12:31 AM · Apr 3, 2022Twitter Web App

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Zcash has lack of adoption including by wallets/exchanges (especially z-addresses) while Monero needs a big overhaul. Monero can be a better option in practice because more people use it, it has hardware wallet support already and there isn't a transparent pool as an on/off ramp.

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Ideally Bitcoin would add a shielded pool inspired by Zcash. Could easily get more adoption than any dedicated privacy coin. Such a small chance of it happening now with how contentious changes to the protocol have gotten and how it's so political rather than technical. Still...

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