We refuse to accept custodial, KYC'd, permissioned, and surveilled wallets as the norm.
There's a better way. We're building it.
Discussion
This is the way.
Can't wait! Go and get it relentless #[1] ! ⚡🍀
Zeus is my all time favorite wallet. Excited to see what they do here.
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биткоин = инструкция... делай как сатоши...
🔥🔥🔥🔥
If you haven't tried going fully self-sovereign with #[1] at the core of your LN usage, you're missing out.
They're changing the landscape for self-sovereign LN usage.
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I pity the person who named it custodial, which I think is a synonym for ownership.
Within a CEX they are custodial and they own it.
Part of social engineering includes negative word use. Beat them at their own game.
Also, Non-custodial is sounds negative, (self custody). As you suggest It should be the norm.
I have no better word for custodial... someone in nostrland might?
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make it available on a computer
If you have an M1/M2 Mac you can run Zeus on that. Beyond that we want to flesh out our mobile suite first.
Is there a way to see if a sat is Kyc or not?
What percent of all sats are kyc?
I wouldn't look at it that way. The KYC isn't tied to the sat, Bitcoin and LN doesn't care; they're all the same. The KYC is tied to the individual.
So how does kyc tie addresses to the individual? We need transparency into this so that we can turn the panopticon into a glass house.
Exchanges collect your personal info then track the addresses you withdraw to
How do we know which addresses are tracked and how far? Can that be quantified?
Estimates could probably be made but you'd really need access to all the exchange databases.
If you mix in whirlpool every mix deeper you go increases the obfuscation exponentially so after 5 mixes (each mix is 5 participants) you get 3125 different addresses that could be you. Another mix gets you 5^6 so 15,625. So I’d say the sweet spot for long term storage is over 5 mixes in whirlpool to be sure they’ll never know.
that sounds really good
what are the disadvantages one should take into acc whit whirlpool? any valid criticism you know of?
I would use Sparrow wallet on desktop or Mac and connect to a full node that you own to mix with. Sparrow wallet has fantastic whirlpool integration, better than Samourai’s own wallet imo. Make sure to pick the right pool size so you don’t pay too large a fee, there are good guides online that explain how it all works.
https://sparrowwallet.com/docs/mixing-whirlpool.html
Just be aware that fundamentally when you’re mixing in whirlpool it’s a hot wallet because the wallet needs to be able move the bitcoin. You need to leave this computer on all the time and it will just mix for you 24/7. Just explaining what I do. You can tell the mixing wallet in sparrow to automatically withdraw to a public key address you specify after a certain number of mixes so I just see transactions trickle into my cold storage over the weeks/months it takes to mix my bitcoin.
You can password lock the hot wallet too and it will keep mixing and stay connected to your full node so that’s good, password protected hot wallet.
You don’t need to mix a lot of bitcoin either. There is a 100k sat pool, try sending over like 750k sats and if you mix in that pool you’ll end up with 7 100k sat utxos mixing.
This disadvantages of whirlpool are the small round sizes (5 inputs and 5 outputs) and unmixable change. Wasabi coinjoins are more efficient and more private since they have much larger rounds and eliminate the problem of traceable change. Here's a side by side list of features:
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You don’t have to tell me, I’ve used both and I much prefer Whirlpool.
Why do you prefer Whirlpool?
A big factor for me is just understanding the entire model a bit better than I understand Wasabi. I’m going to spend more time with Wasabi this year to try and get a better grasp of it. I like the fee system of whirlpool where you can get increased mix depth for free (just requires waiting longer) but yeah, tbh I should learn more about Wasabi and I will.
If you don’t mix your KYC bitcoin they pretty much always know when you do anything with bitcoin. All the transactions are children of that initial KYC exchange transaction. Do be aware though, when you coinjoin KYC bitcoin they see that you did that. At best they will see you moved your bitcoin and whoever got it then mixed it. But I think it’s important to acknowledge that mixing bitcoin isn’t illegal, it’s actually just the proper way to use bitcoin on chain when you’re dealing with KYC bitcoin.
but the real problem is there is a record that John Stevenson bought 0.02 BTC at $25k on 23rd February 2023, you cant get rid of this
in the Netherlands the government is opting to track all legacy fiat transactions >= 100 euros
take that as a rough estimate
WTAF?
This is #TheGreatReset..
It's the Dutch governments preparatory step for the implementation of a CBDC.
The Dutch government wants to use this measure to CuRb MoNeY lAuNdErInG aNd ThE fInAnCiNg Of TeRrOrIsM🤡.
Massive privacy violations..
"The government assumes that there is a lot of money laundering by consumers. Or that they even finance terrorism. […] The risk is that the law opens the door to unprecedented mass surveillance by banks. The Rutte cabinet is playing with constitutional fire," Ellen Timmer of the Pellicaan law firm told De Andere Krant."
"All your payment behavior will be collected centrally and monitored with algorithms," the Dutch Data Protection Authority also responds in that newspaper."
Imagine the implications..
No 💉, no nothing.. no way to pay for tickets.. no way to get out.
So Wallet of Satoshi, which is custodial and widely used around here, is probably not a good idea to keep using?
If I KYC and buy some bitcoin and send it to you that bitcoin is no longer KYC because you own it and the KYC no longer is accurate. However, my identity is KYC’d and they think I still own that bitcoin or they think I used it buy something and they get suspicious. That’s why they KYC.
The reason you want KYC free bitcoin is so you can spend it without anyone in the world knowing it was you. KYC takes that away.
Luckily it’s not sticky for bitcoin, it’s sticky for identities though. I wish I had never KYC’d my government identity but I did with coinable and CashApp now they will always know that I bought bitcoin from them. You can’t whirlpool that. Your identity is non-fungible like an NFT lol
+1
respect
👌
Pura vida! ⚡🔥💎
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