first, money was goldthen, the state replaced it with paperafter, satoshi created digital gold, bitcointhis was a big improvement, but it was missing a core trait of real goldfungibilitya core property of gold is that it's fungible; you can interchange it with other goldbut once you add serial numbers and tracking, you can diminish the value and cancel it based on its historyin other words, without privacy, you can not get fungibility, and hence you can't fully replicate gold money at internet-scalethis was ...

RT sacha 🦣 (@ssaintleger)protecting individual privacy requires defending fungibilityjust like cash or unnumbered gold coins, each coin should be unburdened by its history (aka hal finney test)what i've heard from those on the ground is that the DC overton window has shifted towards zk ids and proof of innocence. but without understanding the 2nd order effects re linkability, associations, and the inevitable chilling effects that followif we don't succeed in shifting this overton window further during this ...

RT Sean Bowe (@ebfull)Zcash is humanity's first mathematically fungible asset.Much like when time and space switch places in a black hole, when money crosses the event horizon of a shielded pool its history begins an unstoppable, monotonic march toward indistinguishability. ...

RT Sean Bowe (@ebfull)Zcash is humanity's first mathematically fungible asset.Much like when time and space switch places in a black hole, when money crosses the event horizon of a shielded pool its history begins an unstoppable, monotonic march toward indistinguishability. ...