waxwing on Nostr: Reasons these systems could be pointless: 1/ proof of assets is fakeable by borrowing ...
Reasons these systems could be pointless: 1/ proof of assets is fakeable by borrowing assets 2/ proof of liabilities too complex for users 3/ proof of liabilities can be made easy but then users are just trusting the custodian anyway. Re: "in the case of ecash mints, they compromise with privacy" - but, that's why i'm posting a *private* proof of assets technique? I certainly agree that it's a nasty compromise to publish assets with onchain addresses as Binance does.
Published at
2024-09-18 19:49:00Event JSON
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"content": "Reasons these systems could be pointless: 1/ proof of assets is fakeable by borrowing assets 2/ proof of liabilities too complex for users 3/ proof of liabilities can be made easy but then users are just trusting the custodian anyway. Re: \"in the case of ecash mints, they compromise with privacy\" - but, that's why i'm posting a *private* proof of assets technique? I certainly agree that it's a nasty compromise to publish assets with onchain addresses as Binance does.",
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