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From: Billy Tetrud <billy.tetrud@gmail.com>
Date: Fri, 25 Feb 2022 09:56:24 -0600
Message-ID: <CAGpPWDZxynGhOE7PpQ0sChvBODrM2k47KP6dRDu06oNUFJGyKA@mail.gmail.com>
To: AdamISZ <AdamISZ@protonmail.com>
Content-Type: multipart/alternative; boundary="000000000000628beb05d8d9be20"
Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Draft-BIP: Ordinal Numbers
Precedence: list

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> El Gamal commitments, for example, are perfectly binding but only
computationally hiding.

That's very interesting. I stand corrected in that respect. Thanks for the
information Adam!

On Fri, Feb 25, 2022, 05:17 AdamISZ <AdamISZ@protonmail.com> wrote:

> > I really don't see a world where bitcoin goes that route. Hiding coin
> amounts would make it impossible to audit the blockchain and verify that
> there hasn't been inflation and the emission schedule is on schedule. It
> would inherently remove unconditional soundness from bitcoin and replace it
> with computational soundness. Even if bitcoin did adopt it, it would keep
> backwards compatibility with old style addresses which could continue to
> use ordinals.
>
> Nit: it isn't technically correct to say that amount hiding "inherently
> removes unconditional soundness". Such commitments can be either perfectly
> hiding or perfectly binding; it isn't even logically possible for them to
> be both, sadly. But we are not forced to choose perfect binding; El Gamal
> commitments, for example, are perfectly binding but only computationally
> hiding.
>

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<div dir=3D"auto"><div dir=3D"auto">&gt;=C2=A0<span style=3D"font-size:12.8=
px">El Gamal commitments, for example, are perfectly binding but only compu=
tationally hiding.</span><div dir=3D"auto"><span style=3D"font-size:12.8px"=
><br></span></div><div dir=3D"auto"><span style=3D"font-size:12.8px">That&#=
39;s very interesting. I stand corrected in that respect. Thanks for the in=
formation Adam!</span></div></div><br><div class=3D"gmail_quote"><div dir=
=3D"ltr" class=3D"gmail_attr">On Fri, Feb 25, 2022, 05:17 AdamISZ &lt;<a hr=
ef=3D"mailto:AdamISZ@protonmail.com" target=3D"_blank" rel=3D"noreferrer">A=
damISZ@protonmail.com</a>&gt; wrote:<br></div><blockquote class=3D"gmail_qu=
ote" style=3D"margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex=
">&gt; I really don&#39;t see a world where bitcoin goes that route. Hiding=
 coin amounts would make it impossible to audit the blockchain and verify t=
hat there hasn&#39;t been inflation and the emission schedule is on schedul=
e. It would inherently remove unconditional soundness from bitcoin and repl=
ace it with computational soundness. Even if bitcoin did adopt it, it would=
 keep backwards compatibility with old style addresses which could continue=
 to use ordinals.<br>
<br>
Nit: it isn&#39;t technically correct to say that amount hiding &quot;inher=
ently removes unconditional soundness&quot;. Such commitments can be either=
 perfectly hiding or perfectly binding; it isn&#39;t even logically possibl=
e for them to be both, sadly. But we are not forced to choose perfect bindi=
ng; El Gamal commitments, for example, are perfectly binding but only compu=
tationally hiding.<br>
</blockquote></div></div>

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