Mass adoption of Bitcoin would be a mass surveillance dream due to the lack of on-chain privacy. It also won't be censorship resistant without privacy.
Still not too late for Bitcoin to add serious on-chain privacy via encryption rather than obfuscation, but it's getting there.
Conversation
Replying to
Needs a lot of improvement, but at least they've stopped it from becoming ossified and unable to improve so they can keep doing that far more easily.
1
3
Show replies
This Tweet was deleted by the Tweet author. Learn more
Replying to
Zcash shielded transactions are the gold standard but they need much better adoption for shielded addresses including hardware wallet support. Could be bolted onto Bitcoin and the community could heavily push for adoption, but there will be people who viciously fight against it.
6
2
17
Show replies
Replying to
bitcoin won't just magically add privacy. you want something added to bitcoin, open a pr. its open source software.
1
1
Replying to
People submitting high quality pull requests implementing protocol changes isn't how Bitcoin works at this point. In the early years? Sure.
Solving it is almost entirely a political issue, not a technical one. Zcash already made the technology needed to deploy this for Bitcoin.
1
1
4
Show replies
Replying to
Questions out of ignorance!
Is the lightning network private!?
Can the lightning network be made private in an easier way than the settlement layer!?
Does this means BTC has no chances of becoming private!?
1
Replying to
Lightning channels and opened and closed on-chain and there isn't any strong on-chain privacy available. Using Lightning without trusting others, etc. means you have your own node with channels open to other nodes. There's a whole lot of metadata available for others to view.
2
1
2
Show replies
Replying to
Several trade off decisions have to be made when you’re trying to create the worlds first scarce digital asset. Transparency/auditability was given preference over privacy and I tend to think this was necessary to create initial faith in the system.
1
But agreed that privacy should now be given more priority since faith in the protocol and hard cap are firmly established. Fortunately tools exist for those who want to use them, but it’s not fool proof yet.
1
1
Show more replies