– Can Elliptic Curve Cryptographic be Trusted? A Brief Analysis of the Security of a Popular Cryptosystem, external Paper.
„The Meaning of C$“
written by Thomas the Creator and Master Mind of C$ in Nov. 2014
If you think that what’s established remains established, you should stop reading this.
If you believe that things are never going to change, you should stop reading this.
But if you think that change is an integral part of life or you feel change is needed, then I hope to inspire you with what comes. Now you have some money in your pocket or on your bank account, isn’t it? It might be little, it might be much, but certainly you understand what it’s good for.
With some chance you might also happen to have a smartphone in your other pocket. It’s a tiny computer, yet vastly more powerful than those that took Apollo to the moon. That money in your pocket is still coins and paper or some of those cards that might include a little chip, another computer, not so powerful however.
So what could we expect to change? Could that coins, papers and cards go into that smartphone somehow?
Today you see lots of people coming up with exactly that! Money on your smartphone? No problem, there are dozens of solutions…
The most recent one, brought by Apple, is going to do it, right? Apple is big, they have the power and the right friends, those producing the cards.
If you think the case is clear, you should stop reading immediately.
Ok, so what if not?
I have to stretch out a little for this: is that smartphone yours or does it belong to Apple, Google or however sold it? So far we’d expected to own it, but things change…
The other way round: is it possible to build a smartphone yourself? Well, there’s lots of stuff about that, definitively yes, with some skills. So, if I can build my smartphone myself I don’t need to buy Apple’s when I’m not happy with their policies. This is called freedom of choice. If you ask yourself what is this all about: it’s about the question should Apple or VISA or MasterCard impose an additional global turnover tax on us? Should all the small daily money eventually flow through the accounts of these giants?
What’s the alternative? They are established, so nothing’s going to change that. You should have stopped reading.
So let me tell you. It’s nothing new. What did those people in Babylon millenniums B.C. do? They made scratches on stone to count cows, camels, amphoras with grain and wine and whatever they wanted to account for. And what do we do today? We exchange paper sheets, but the principles remain the same. Even more, it does seem to make any sense to change them, as we shall see.
So what are these principles and how can one understand them?
Another excursion: go and take a walk in your neighborhood (if you have) and take an unbiased look at the place. Possibly you find that quite a lot of people live there. You don’t know them. You might never meet them if it’s a city. You don’t notice them, but they are there, as you are. So should you be scared of these people: No, hopefully and for the most of us, no, these people are as peaceful as we are.
How do we interact, with those we don’t know, in daily life situations? Friendly, hopefully. Denying, possibly. But do we steal from others, do we threaten them? No, I guess we don’t. So these principles are not born in our minds, they come from our hearts.
It is obvious that theft and robbery are acts against peace. What will the father do if someone steals the cattle he needs to feed his family? Should he steal himself? One might believe that money is an excellent instrument to keep peace. We can be convinced that the peace most of us enjoy is partially due the fact we can afford to buy things we need for living with money. And that others can do that too. Some people think that gold and silver is safer than paper money. Others believe that real estates and housings are safer. They don’t trust their governments and central banks.
But how safe is your gold and house if someone points a gun at you? Can’t you lose it within a minute? It’s better to have a bank account then! And see, we’re back at the Babylonian scratches. They just got smaller and many of them fit into a palm sized hard disk nowadays. I haven’t told you anything new, so far, isn’t it? It’s because there’s nothing new. It’s just another way to write the scratches. Remember when train tickets where checked by the ticket inspector? It’s long time ago. Today we have self-control!
And that’s where it’s going to go: you make the scratches yourself! The environment has changed with the computer and there are some things you couldn’t possibly do at any time before:Create digital signatures, which are rather large computations that would take humans millenniums to do by hand.Transmit data across the planet within less than a second, which is close to the theoretical minimum.
These two features put together allow us make the scratches ourselves, on our own, home built smartphone running only code we trust. It’s not what I recommend to do, but it’s the degree of freedom it has. I will not go into any details here, it’s described in another paper, but the essential point is: A chain of signed documents can represent entries written to an accounting book so that those changes cannot be undone or falsified later. Such a chain can be constructed so that only the owner of a particular private key can read and validate it, but it can also be presented to others, with the consent of the key owner, so that the others can validate it themselves. Be aware that the rules and regulations of how and when to do the scratches, in daily life, will strictly depend on the currency that is used for a transaction. The idea, obviously, is not limited to any fixed count of currencies, this means there can be any number of them, each with its own rules and regulations.
Naturally, currencies can also be exchanged and the rules might get confusing in such cases. What I’m talking about is not a system to enforce rules. It does not. It runs on my own home built smartphone with my own, possibly faulty software. I might get it wrong. Nobody will tell me.
So it’s unsafe!
That’s nonsense. You should stop reading.
There was a reason for the detours I took before.
If all the people using the system act correctly, the system will work. If some of them do bad things, others might try to catch them. How could they do? Assume money is transferred from one self-declared account to another. This leaves a trace in both accounts, notably a reference to the other account. So what if someone manufacture false money and start to transfer it to others? Nobody would notice.
Obviously this does not work!
In fact, a currency must, should it be of any real use, define some rules to be operable. There are many instruments that can be used to add control, including third parties such as banks or governmental organizations to ensure, in case of a fraud, the culprit can be determined.This can range all the way down to full control, which means all writing to the accounting book must copied over to some inspector for validation and approval. You might not want so much control. Then go and make your own currency!
Or take C$. It’s a reasonable compromise of risk, regulation and freedom. The risk is limited in that C$ is strictly tied to a set of existing currencies such as EUR, CNY, USD and CHF. C$ will never be more dynamic than any of them.
The regulation is little, as the New World Order has not been established yet, there is no place to address. Since C$ lives in the internet, it’s hard to place it at some specific location. Freedom is much, as anybody can create their own account on their own home built smartphone. For those, like me, who lack the skills to do that, C$ offers a particular selection of apps and tools to work with C$.
Start Today. Get C$.