“Many say #Bitcoin privacy is broken. If we look at the on-chain activity, about $300 billion dollars worth of #bitcoin is moving between on-chain wallet addresses weekly. Professional on-chain analytic services say about 1% of it is crime, but can’t say what the other 99% is…

Granted it could be UTXO consolidation, owners moving their existing stack to a different wallet address or the exchange of goods & services. No one knows because #Bitcoin privacy is working & improving.

The activity is very unlikely to be spam because when someone moves their #bitcoin on-chain they’re using their private key to sign that transaction, and in doing so there are associated risks and a cost which disincentives any spam attempt.”

Thoughts inspired by @BitcoinPierre on the @stephanlivera podcast.

Episode 602 titled “Bitcoin product market fit for savings”