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Some people think I am btc maxi. I am not a maxi yet.

When btc can be as private as cash via end-2-end encrypted transactions then I will be a maxi.

I support bitcoin the most because it’s the most decentralised, verifiable the blockchain, 21 million cap and it’s proof of work algorithm is a mind blowing genius solution.

But having your friends, family, employers or bad actors being able to see your entire financial history when they get access to your public address using chainanalysis software is very concerning to me.

I am big fan of any potential BIPs that could allow for end2end encrypted btc like BIP-300 drivechains or some kind of soft fork that would allow for Zero Knowledge or Validity roll ups on bitcoin.

Resource links for those interested to learn more:

https://layertwolabs.com/

https://bitcoinrollups.org/

If bitcoin never achieves true privacy then maybe there is reason for me to look into privacy coins just incase because I really don’t trust the state knowing my entire my financial history.

I’m no computer science expert so maybe it’s possible to have complete privacy with lightning but atm it seems like wishful thinking. Love to be educated or proven wrong.

Regardless always be thankful for bitcoin which has taken me where I am today.

Dee₿s 2y ago 💬 1

It’ll never be as private as some people want it to be.. as in, a public ledger cannot be private. That just is what it is.

If you want privacy on the base level, then you cannot verify that it has a capped supply. At least, we haven’t worked that out yet.

But, privacy solutions can be built on top of amthe public ledger, to solve most privacy problems. Look at lightning and things like Fedi, crash.. look at coinjoin etc.

Most privacy problems come from the fiat on and off ramps. In a bitcoin circular economy, privacy would be a lot easier to come by.

Listen to guy swan read 749 for a little more here 🤙

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Discussion

Sovereign Matt 2y ago

I would never propose a change to the base chain.

You could move your btc to Monero type sidechain or roll up trustlessly use your btc on this layer for any transactions you wish to be private and as simple to use as any other blockchain. However requires a soft fork similar to taproot.

You have lightning companies that are using AI to track all your transaction on ln. Fedimint and ask is interesting but I think it will like have to same weaknesses in terms of privacy as lightning.

Yes you can buy non-kyc bitcoin and never spend it. But whole point of money imo is to spend your money p2p without any middle men or state surveillance.

I am just a paranoid dude l. I really wish to see brc to be like cash. One can dream.