Article by Esoteric @EsotericVeritas for Dapp.Tech, published 27th June 2018. Video produced by Andreas M. Antonopoulos @aantonop, published 26th June 2018. Follow us on twitter  →  @dapptech

 

Coin Selection, Fungibility and (the forgotten human right) Privacy


Bitcoin is transformative technology.

“They” say “Blockchain NOT Bitcoin”, Andreas is a proponent of “Bitcoin NOT Blockchain”, because new blockchains can be bent to conform to the will of the powerful. Take Privacy for instance, it is a globally recognized human right and I agree with Andreas that it’s a slippery slope to allow technology to steal human rights from us.

The Q&A video featured in this post (above ↑) is brilliant, Andreas continues to produce inspiring, informative and accessible content around Bitcoin and Decentralization and has been doing so for years. He gets people on their feet and draws standing ovations on a weekly basis, one might say he’s the Grandmaster Flash of Crypto. Speaking of crypto nicknames, having to hear Roger Ver being called ‘Bitcoin Jesus’ by numerous mainstream media buffoons is cringe-worthy to say the least, which is why I’ve to fire one back from the light side, recently decided to occasionally refer to Andreas as the Real Bitcoin Jesus. 

When it comes to privacy & crime, Andreas suggests “most criminals get caught with human factors anyway so let them” rather than burn individual civil liberties.

If governments can’t handle Bitcoin’s future level of privacy, the ‘ban hammers’ may come down in many parts of the western world but Bitcoin doesn’t stop for anybody, it will continue to serve the other 6 billion people that are not interested in playing this game of crony surveillance capitalism. We live a world where being ‘unbanked’ is one of the fundamental barriers to economic development and we have constructed a closed system of controls such as KYC and such that gets in the way of billions of people getting access to powerful and liberating financial services.

A more open, accessible and privacy-focused future is on the horizon.

samourai privacy wallet & oxt explorer
samourai privacy wallet & oxt explorer
For now, if you’re a Bitcoin user and want privacy, one of the best Privacy focused Bitcoin wallets for everyday spending (i.e. a ‘Hot Wallet’) is Samurai Wallet (available on Android devices via the Google Play Store). A ‘Hot Wallet’ refers to any wallet where the private key is connected to the internet compared to a ‘cold storage’ wallet who’s private key has never touched an internet connected device.
If we give people the power to use Bitcoin, they will largely use it for good… And to those who are scared of Bitcoin or of its detractors… The War is already over and Bitcoin has won. The code is out there in the hands of the people and will not be unlearned. #Decentralize  
Bitcoin is a growing interconnected global economy that is completely p2p, fair and discards many of the trappings from the past. We are seeing an exodus from traditional FinTech industries to the Blockchain and Cryptocurrency. This technology is fundamentally about building a platform where you can transact and record facts without having to trust any 3rd party or “middle-man”.

Institutions are set to be replaced by Flat Peer-to-Peer Networks.

The featured Q&A video tackles some interesting questions… How do coin selection algorithms work? What is STONEWALL and Ricochet? How did Samourai become one of the most privacy-preserving wallets? How much fungibility does Bitcoin have and how much should it have? What do you do about crime using blockchains? How likely is an on-chain privacy update and what are the implications? Should we be worried about how regulation-conscious money feels about that? These questions were part of the monthly live Patreon Q&A session on March 31st and the (rescheduled) April session on May 5th.

If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop

Follow #theRealBitcoinJesus on Twitter: @aantonop

Signup direct via his personal website: https://antonopoulos.com/

 


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RELATED LINKS FROM ANDREAS:

Worse than Useless: Financial Surveillance – https://youtu.be/n4F-h4xuXMk

Money as a System-of-Control – https://youtu.be/FyK4P7ZdOK8

The Stories We Tell About Money – https://youtu.be/ONvg9SbauMg

Bitcoin: Privacy, Identity, Surveillance and Money – https://youtu.be/Vcvl5piGlYg

ADISummit: Self-Sovereign Identity Panel – https://youtu.be/DZbyiJqKT8c

How is fungibility tied to privacy? – https://youtu.be/VuI-8EwqIS8

Public keys versus addresses – https://youtu.be/8es3qQWkEiU

Re-using addresses – https://youtu.be/4A3urPFkx8g

Airdrop coins and privacy implications – https://youtu.be/JHRnqJJ0rhc

Wallet design and mass adoption – https://youtu.be/WbZX6BDZJHc

How do I choose a wallet? – https://youtu.be/tN6b62sEpsY

Using paper wallets – https://youtu.be/cKehFazo8Pw

Exchanges, identity, and surveillance – https://youtu.be/TVFy8xXfxAA

The price of losing privacy – https://youtu.be/2G8IgiLbT_4

Layered scaling and privacy – https://youtu.be/4w-bjUhpf_Q

Lightning and onion routing – https://youtu.be/D-nKuInDq6g

SegWit and fork research – https://youtu.be/OorLoi01KEE

MimbleWimble and Schnorr signatures – https://youtu.be/qloq75ekxv0

Mixing services – https://youtu.be/rKoMvOH4zoY

Borderless money – https://youtu.be/EZh1-ZqffOw


Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.


 

Music: “Unbounded” by Orfan (https://www.facebook.com/Orfan/)

Outro Graphics: Phneep (http://www.phneep.com/)

Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)

 


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Disclaimer: This is not financial or legal advice. Always do your own independent research & seek the counsel of a qualified financial advisor before investing yours or anyone else's money.

 

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