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Add examples of fungible items for footnote 2 #23

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de0e138
Add examples of fungible items for footnote 2
jorgesumle Jun 22, 2023
a849359
Since it's not a literal quote, remove quotation marks
jorgesumle Jun 22, 2023
a41217c
better quote
jorgesumle Jun 22, 2023
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4 changes: 2 additions & 2 deletions content/introduction.tex
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Expand Up @@ -7,7 +7,7 @@ \chapter{Introduction}
\\ \newline
Cryptocurrencies store transactions in the blockchain, which acts as a public ledger\footnote{In this context ledger just means a record of all currency creation and exchange events. Specifically, how much money was transferred in each event and to whom.} of all the currency operations. Most cryptocurrencies store transactions in clear text, to facilitate verification of transactions by the community of users.
\\ \newline
Clearly, an open blockchain defies any basic understanding of privacy or fungibility\footnote{``\textbf{Fungible} means capable of mutual substitution in use or satisfaction of a contract. ... Examples: ... money, etc."\cite{mises-org-fungible} In an open blockchain such as Bitcoin, the coins owned by Alice can be differentiated from those owned by Bob based on the `transaction history' of those coins. If Alice's transaction history includes transactions related to supposedly nefarious actors, then her coins might be `tainted' \cite{bitcoin-big-bang-taint}, and hence less valuable than Bob's (even if they own the same amount of coins). Reputable figures claim that newly minted Bitcoins trade at a premium over used coins, since they don't have a history \cite{new-bitcoin-premium}.}, since it literally {\em publicizes} the complete transaction histories of its users.
Clearly, an open blockchain defies any basic understanding of privacy or fungibility\footnote{"\textbf{Fungible} means capable of mutual substitution in use or satisfaction of a contract``\cite{mises-org-fungible}. Examples: tin, gold, money, etc. In an open blockchain such as Bitcoin, the coins owned by Alice can be differentiated from those owned by Bob based on the `transaction history' of those coins. If Alice's transaction history includes transactions related to supposedly nefarious actors, then her coins might be `tainted' \cite{bitcoin-big-bang-taint}, and hence less valuable than Bob's (even if they own the same amount of coins). Reputable figures claim that newly minted Bitcoins trade at a premium over used coins, since they don't have a history \cite{new-bitcoin-premium}.}, since it literally {\em publicizes} the complete transaction histories of its users.
\\ \newline
To address the lack of privacy, users of cryptocurrencies such as Bitcoin can obfuscate transactions by using temporary intermediate addresses \cite{DBLP:journals/corr/NarayananM17}. However, with appropriate tools it is possible to analyze flows and to a large extent link true senders with receivers \cite{DBLP:journals/corr/ShenTuY15b, DK-police-tracing-btc, Andrew-Cox-Sandia, chainalysis-2020-report}.

Expand Down Expand Up @@ -112,4 +112,4 @@ \section{Acknowledgements}

Written by author `koe'.

This report would not exist without Kurt's original master's thesis \cite{kurt-original}, so to him I owe a great debt of gratitude. Monero Research Lab (MRL) researchers Brandon ``Surae Noether" Goodell and pseudonymous `Sarang Noether' (who collaborated with me on Section \ref{sec:range_proofs} and Chapter \ref{chapter:tx-knowledge-proofs}) have been a reliable and knowledgeable resource throughout both editions of Zero to Monero's development. Pseudonymous `moneromooo', the Monero Project's most prolific core developer, has probably the most extensive understanding of the codebase on this planet, and has pointed me in the right direction numerous times. And of course, many other wonderful Monero contributors have spent time answering my endless questions. Finally, to the various individuals who contacted us with proofreading feedback, and encouraging comments, thank you!
This report would not exist without Kurt's original master's thesis \cite{kurt-original}, so to him I owe a great debt of gratitude. Monero Research Lab (MRL) researchers Brandon ``Surae Noether" Goodell and pseudonymous `Sarang Noether' (who collaborated with me on Section \ref{sec:range_proofs} and Chapter \ref{chapter:tx-knowledge-proofs}) have been a reliable and knowledgeable resource throughout both editions of Zero to Monero's development. Pseudonymous `moneromooo', the Monero Project's most prolific core developer, has probably the most extensive understanding of the codebase on this planet, and has pointed me in the right direction numerous times. And of course, many other wonderful Monero contributors have spent time answering my endless questions. Finally, to the various individuals who contacted us with proofreading feedback, and encouraging comments, thank you!