Trusted setup only compromises the supply integrity not privacy. I am not a fan of Zooko or the Green comments on backdoors and LE but do not misrepresent trusted setup.
Conveniently, it's impossible to audit whether more coins are being minted right now to add to the developer tax already imposed on block rewards.
Don't think I misrepresented trusted setup--only warning others about the reputation of Zcash. Anonymity for some can be a critical issue, so I don't think everyone can afford to wait for "proof of backdoor" before making their decision.
By the way, the backdoor comments are taken out of context in a very inaccurate way.
For Zooko's, literally the next tweet explains that he means for transfers in and out of fiat.
"And by the way, I think we can successfully make Zcash too traceable for criminals like WannaCry, but still completely private & fungible. …
… At least for as long as criminals want to cash out to fiat (years? decades?). …
"[0]
Since conversions to fiat are done via exchanges, which are regulated, it's pretty simple. This applies to Monero,Dash, etc.
Matt's, which he has pointed out before[0], was a point that it was possible, which is true for any system. If you follow the general debate on adding backdoors to encryption, you'll know he and almost all cryptographers are completely against them.
Its fine not to be a fan of them or think people should never admit even the conceptual possibility of limitations on privacy but neither quote was endorsing backdoors.
>Since conversions to fiat are done via exchanges, which are regulated, it's pretty simple.
There are plenty of decentralized exchanges (Bisq supports Monero) and OTC trading websites such as LocalMonero. It would make no sense for a criminal to cash out using a centralized exchange that likely requires KYC?
Conveniently, it's impossible to audit whether more coins are being minted right now to add to the developer tax already imposed on block rewards.
Don't think I misrepresented trusted setup--only warning others about the reputation of Zcash. Anonymity for some can be a critical issue, so I don't think everyone can afford to wait for "proof of backdoor" before making their decision.