Topic: ZCash backdoor? (Read 2862 times)
a nice tweet but what does he wants us to think?
Invalidating inactive wallets means stealing your life savings.
Right! So much for store of wealth use case.
Invalidating inactive wallets means stealing your life savings.
Glad to hear something that contradicts the 'Zcash took alpabay down' rumours.
If bitcoin transactions increasingly get traced, it might push more people to coins like Monero and Zcash.
But why should anybody use Zcash if their developers freely and repeatedly confess that they want to make Zcash transactions transparent afterwards if neccessary through a backdoor implementation? It is not like someone makes assumptions and speculations that they will do it, but the developers themselve say it openly. So why should anybody use Zcash?
Also Zokoo said now (Twitter) they will implement an option to invalidate not active accounts/wallets.
So lets summarize:
Means the Zcash company will have the power to:
- print tons of Zcash (trusted setup)
- will have the power to selectively deanonymize transactions
- and will have the power to invalidate your Zcash account and the money you have on it
Add the massive inflation to this, for me only a complete stupid investor would put his money into Zcash. Which degree of stupidity is neccessary to put ones money into Zcash? I am amazed every day how people just want other people to take their money without doing any kind of research. Amazing.
Glad to hear something that contradicts the 'Zcash took alpabay down' rumours.
If bitcoin transactions increasingly get traced, it might push more people to coins like Monero and Zcash.
What does it have to do with ZCash ?
So a backdoor in an anonymous coin ,i knew this will be a shit coin with all the hype it had and the team behind it ,it is good that they revealed the facts about how anonymous they are,still i do not understand why the coin is trading at this price,it should go down and people should avoid these shit coins ,the developers made a lot of money with it cheating every investor.
Zcash problems so far.
1) Backdoor built by developers for government snooping. This is no different now than any other bitcoin core clone.
2) Trusted setup issues where devs need to be trusted not to create zcash out of thin air, as much as they want, hidden from everyone. Nobody would know.. hmm.. thats asking for a lot of trust.
3) 20% of mined rewards go to devs. Thats like a 20% premine. Shitcoins have that much premine.
Dash is also an overpriced shitcoin with crappy anonymity. You need to trust nodes to mix your coins while anyone could own these nodes including governments.
So what is left? MONERO! underpriced at 38.00 compared to the above shitcoins. What coin do you think will dethrone these two jackasses above? MONERO that's who. December 2017 will see Monero in the top 5 and those two fake anon coins way below it.
1) Backdoor built by developers for government snooping. This is no different now than any other bitcoin core clone.
2) Trusted setup issues where devs need to be trusted not to create zcash out of thin air, as much as they want, hidden from everyone. Nobody would know.. hmm.. thats asking for a lot of trust.
3) 20% of mined rewards go to devs. Thats like a 20% premine. Shitcoins have that much premine.
Dash is also an overpriced shitcoin with crappy anonymity. You need to trust nodes to mix your coins while anyone could own these nodes including governments.
So what is left? MONERO! underpriced at 38.00 compared to the above shitcoins. What coin do you think will dethrone these two jackasses above? MONERO that's who. December 2017 will see Monero in the top 5 and those two fake anon coins way below it.
You know, and I know that a backdoor would have been sealed long ago, if it had even a chance of existing.
Wrong. Why is it so difficult to understand that the main people behind Zcash (Zooko, Green) openly confirm a backdoor in Zcash without even hiding their plans?
So no, they wont seal it but open the backdoor it by themself. Also a backdoor does not need to be lot of code but simply a vulnerability. This makes Zcash worthless.
Im hoping coins like XSPEC can step up and deliver where other privacy based coins have been failing.
Quote
ZEC will be completely secure as it's all encrypted. It helps us to hide the transaction amount and related parties.
No it wont be secure because the developers will have the option to deanonymize every Zcash transaction they choose, through a backdoor.
This is a false promise of security. But at least the Zcash developers do not hide their plans.
I think it can not come back, not only it, most of the altcoins are down in the same direction as bitcoin, bitcoin is affecting the whole virtual currency market. This only ends until bitcoin increases.
Quote
ZEC will be completely secure as it's all encrypted. It helps us to hide the transaction amount and related parties.
No it wont be secure because the developers will have the option to deanonymize every Zcash transaction they choose, through a backdoor.
This is a false promise of security. But at least the Zcash developers do not hide their plans.
Alphabay implement Zcash and they are down?
Coincidence or backdoor?
Alphabay implement Zcash and they are down?
Coincidence or backdoor?
So the DEvs claim they have an annon coin, but they get to decide who is not trustworthy and allow the authorities to move on them. So i see a coin dev team playing judge or police.
Right. Zcash is the special coin where the user has to trust the Zcash company who could print endless money or deanonymize some transactions through a backdoor.
In Zcash you do not have trustless cryptography but need trust in a new authority. 100% unlike other coins. So basically you can instead of Zcash use fiat, banks and PayPal.
Very interesting statement. So the DEvs claim they have an annon coin, but they get to decide who is not trustworthy and allow the authorities to move on them. So i see a coin dev team playing judge or police. Crypto is the wild west, this is what was missing in the picture....
Your theory is absolutely absurd. ZCash has been on the market for a long time now, and any backdoors would have been immediately noticed by other contributors.
Very, very few people truly understand how Zcash works. Even Zooko can't explain it. A backdoor could be something as simple as a vulnerability that they either accidentally found, or intentionally placed, and then kept secret. It's not like there's a big "THIS IS THE BACKDOOR!" comment in the code. It would be an extremely obscure vulnerability, that could then be used to deanonymize transactions. Considering that the founder essentially admitted there are ways for them to make Zcash useless for criminals, it's far from absurd to say that Zcash has backdoors. To me, it's practically 100% certain that they're there.
Maybe you can explain it to us then.
Right: This is a "possible backdoor. ZKsnarks technology required a kind of "key" to "start" the network. If you look to the history of Zcash, they really knew how sensible this topic is and spend hundred thousands of dollars to make the "start procedure" safe (in easy words: they split this "starting key" so that all team members have only fragments - and they involved civil law notary. The "key fragments" were later on destroyed).
So, yes, this is a possible backdoor - but the ZKsnarks technology requires this. I think they took care that everything runs safe.
People are finally starting to see what a hoax ZCash really is, only purpose it has is to make quick buck for its founders.
How about we don't be early 1900s Europe style racist towards Jews? Just a thought. For sure, if you're doing small to medium business ethnic loyalty might cross your mind - "I'm not Chinese, but they all are, will they favour themselves over me?" sort of thing. I think that's completely irrelevant to holding a cryptocurrency that the developers obviously want to rise given their 20 per cent stake.
I know of no ZCash back door. I do know there is no chance of a cinder in snow that governments around the world will allow large-scale, untraceable money transfer. It's called money laundering, and they seem not to like it. The easiest thing would be just to ban possession of a cryptocurrency if it got out of control. Or they might just regulate the gateway where it turns back in to fiat, which would irritate people less. They'll probably start with this less drastic measure.
I know of no ZCash back door. I do know there is no chance of a cinder in snow that governments around the world will allow large-scale, untraceable money transfer. It's called money laundering, and they seem not to like it. The easiest thing would be just to ban possession of a cryptocurrency if it got out of control. Or they might just regulate the gateway where it turns back in to fiat, which would irritate people less. They'll probably start with this less drastic measure.
As if we needed any more reasons to boycott ZionistCash and it's 20% premine.
You know, and I know that a backdoor would have been sealed long ago, if it had even a chance of existing.
Wrong. Why is it so difficult to understand that the main people behind Zcash (Zooko, Green) openly confirm a backdoor in Zcash without even hiding their plans?
So no, they wont seal it but open the backdoor it by themself. Also a backdoor does not need to be lot of code but simply a vulnerability. This makes Zcash worthless.
Come on. You know, and I know that a backdoor would have been sealed long ago, if it had even a chance of existing. ZCash had, and will continue to have a bright future.
The cryptography used by Zcash is so new, and so complex, that it would be trivial for the Zcash team to place a backdoor without anyone noticing it. And given that several Zcash team members have made statements supporting backdoors, I think it's a near certainty that such a backdoor exists.
Your theory is absolutely absurd. ZCash has been on the market for a long time now, and any backdoors would have been immediately noticed by other contributors.
Very, very few people truly understand how Zcash works. Even Zooko can't explain it. A backdoor could be something as simple as a vulnerability that they either accidentally found, or intentionally placed, and then kept secret. It's not like there's a big "THIS IS THE BACKDOOR!" comment in the code. It would be an extremely obscure vulnerability, that could then be used to deanonymize transactions. Considering that the founder essentially admitted there are ways for them to make Zcash useless for criminals, it's far from absurd to say that Zcash has backdoors. To me, it's practically 100% certain that they're there.
Very, very few people truly understand how Zcash works. Even Zooko can't explain it. A backdoor could be something as simple as a vulnerability that they either accidentally found, or intentionally placed, and then kept secret. It's not like there's a big "THIS IS THE BACKDOOR!" comment in the code. It would be an extremely obscure vulnerability, that could then be used to deanonymize transactions. Considering that the founder essentially admitted there are ways for them to make Zcash useless for criminals, it's far from absurd to say that Zcash has backdoors. To me, it's practically 100% certain that they're there.
^ truth
Guys, ZCash is the first cryptocurrency which is using ZKsnarks. Cryptography is not always easy to explain. If you really wont to figure out what ZKsnarks means (and you have deep understanding in math) then check the listed papers in https://en.wikipedia.org/wiki/Non-interactive_zero-knowledge_proof. It would be great if someone out there finds the proper words to explain ZKsnarks to the world.
Very, very few people truly understand how Zcash works. Even Zooko can't explain it. A backdoor could be something as simple as a vulnerability that they either accidentally found, or intentionally placed, and then kept secret. It's not like there's a big "THIS IS THE BACKDOOR!" comment in the code. It would be an extremely obscure vulnerability, that could then be used to deanonymize transactions. Considering that the founder essentially admitted there are ways for them to make Zcash useless for criminals, it's far from absurd to say that Zcash has backdoors. To me, it's practically 100% certain that they're there.
^ truth
Your theory is absolutely absurd. ZCash has been on the market for a long time now, and any backdoors would have been immediately noticed by other contributors.
Very, very few people truly understand how Zcash works. Even Zooko can't explain it. A backdoor could be something as simple as a vulnerability that they either accidentally found, or intentionally placed, and then kept secret. It's not like there's a big "THIS IS THE BACKDOOR!" comment in the code. It would be an extremely obscure vulnerability, that could then be used to deanonymize transactions. Considering that the founder essentially admitted there are ways for them to make Zcash useless for criminals, it's far from absurd to say that Zcash has backdoors. To me, it's practically 100% certain that they're there.
Your theory is absolutely absurd. ZCash has been on the market for a long time now, and any backdoors would have been immediately noticed by other contributors.
I'm feeling distrustful of all the altcoins, they suffer too much influence from bitcoin, if bitcoin drops, most altcoins also decrease. Zcash too.
Because in 2017 not have rules trading as 2015-2016, the rules of cryptocurrency market in history is: "Bitcoin up, Altcoin down and Bitcoin down, Altcoin will up!" but checking again the price in 2017 helps me. This rules has been broken and when Bitcoin growth, altcoin will rising up too and strong than Bitcoin, as XRP from @500 sats to @25.000 sats, ETH from $10 to $400, DGB from @50 sat to @2600 sat ... lol. And at now, if you compare with this rules I said, you can understand the market
How anyone could trust Zcash after Zooko essentially admitted that it had a backdoor in one of his tweets is beyond me.
Like we needed any more reason to stay away after 20% premine.
EDIT:
Was the backdoor in the seed? If so, ZClassic also has the same backdoor?
EDIT:
Was the backdoor in the seed? If so, ZClassic also has the same backdoor?
This was what I was wondering. I think its safest to assume that all the forks would be susceptible to the same insecurities.
Like we needed any more reason to stay away after 20% premine.
EDIT:
Was the backdoor in the seed? If so, ZClassic also has the same backdoor?
EDIT:
Was the backdoor in the seed? If so, ZClassic also has the same backdoor?
I'm feeling distrustful of all the altcoins, they suffer too much influence from bitcoin, if bitcoin drops, most altcoins also decrease. Zcash too.
Thanks for the link. Glad I never put any penny into this one. 
Me too I dont see an utility for an anonymous coin which is deanonymized by the developers through a backdoor. Add to this the trusted setup which can allow them to print coins endlessly and you have a deep flawed useless coin.
Regardless of whether this is true an anon coin with a dev team that receives direct financial compensation from the use of said anon coin never sat well with me in regards to the possibility of criminal liability and therefore this type of stuff.
Thanks for the link. Glad I never put any penny into this one.
Is that paper available anywhere?
Here is what Green said how they could build a backdoor into Zcash: https://www.newscientist.com/blogs/onepercent/2013/03/bitcoin-zerocoin.html
This was back in march, so maybe now the backdoor is already in Zcash.
So basically they can make every transaction visible, even the "anonymous" transactions. Great coin.
As if we needed any more reasons to boycott ZionistCash and it's 20% premine.
Is that paper available anywhere?
Alphabay implement Zcash and they are down?
Coincidence or backdoor?
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