Privacy Shouldn't Be A Product, Stop Treating It Like One
Privacy is a very important issue. It can be how you manage keeping parts of your life separate. It can be how you maintain your sense of dignity. It can be how you respect someone else’s trust. It can be a matter of you...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Privacy is a very important issue. It can be how you manage keeping parts of your life separate. It can be how you maintain your sense of dignity. It can be how you respect someone else’s trust. It can be a matter of your safety, even your life. At the center of all these things, it is the control over your own information. Specifically, control over who is made aware of what.
Understanding who you have to trust to keep your privacy, who you don’t have to trust, how difficult it is to overcome protections of your privacy and who can feasibly accomplish that, all of these are important things for people to understand when trying to achieve privacy.
Bitcoin has one of the most atrocious track records I’ve ever seen at honestly communicating these realities to users when it comes to Bitcoin privacy tools. I’m sure anyone who isn’t brand new to the space is well aware of the years long feud between Wasabi and Samourai, two projects that offered centralized coinjoin coordinators as a service. Samourai developers were arrested in an insane and baseless overreach trying to apply custodial financial regulations to a purely self custodial project, and Wasabi voluntarily deactivated their coordinator over fears of similar legal action.
This is a horrible state of things, but the reality is the state of things has always been horrible. The past few years prior to Samourai’s arrest and Wasabi’s deactivation were a whirlwind of nonsense.
Both teams have downplayed and hidden risks of their own services, while rabidly attacking the other. Both teams have had privacy or security related issues that they did not disclose to users. Both teams dodged around and hid from the simple reality of both projects: whether due to conscious design choices, or implementation flaws, both projects relied on the coordinator being trusted to not de-anonymize its users.
Many people likely would have still used both projects knowing that, but the reality is the choice to do so while those projects were active for most people was uninformed. Privacy is ultimately about patterns in our behavior revealing things about what we are doing, and the risk you take when concealing something is that if not enough effort was taken to keep it private whatever you did can be revealed.
People having their actions revealed can have consequences. It can ruin someone’s social life, it could create legal consequences if violating some law. In the most extreme consequences, it can literally result in someone losing their life.
That is not truly respected by a large swath of people producing privacy tools, and most definitely was not by the teams at Wasabi and Samourai. That needs to change. We don’t need anymore marketing slogans and troll campaigns.
We need objective and rational definitions of threat models. We need real mathematical analysis of the privacy provided. We need to define the monetary and resource costs required to undermine that privacy. We need rational scientific effort, not PR campaigns and slogans.
Without that, privacy for Bitcoin is not going anywhere.
This article is a Take. Opinions expressed are entirely the author's and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
Why this matters
This bitcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin MagazineRelated market context
XRPL’s $1.34 billion stablecoin base doesn’t tell us how much XRP users need
Tracked stablecoins on the XRP Ledger totaled $1.338 billion on Oct. 7. For XRP holders, the critical question is how much activit...
Is the UK Becoming One of the World’s Most Hostile Crypto Tax Jurisdictions?
In UK crypto news, the island nation is combining planned automatic crypto reporting across 52 jurisdictions with separate proposa...
Glamsterdam Upgrade: Sepolia Blocks Leave Most of Ethereum’s New Gas Capacity Unused
Ethereum’s Glamsterdam upgrade has raised Sepolia’s block-gas limit from about 60 million to nearly 200 million, giving developers...
Bitcoin Core’s privacy fix reaches v32 code while the v31 patch remains open
Bitcoin Core has merged a privacy fix into its 32.x source branch addressing behavior that could correlate private-broadcast conne...
StarkWare CEO Eli Ben-Sasson says Bitcoin needs a soft fork for quantum resistance
Bitcoin's quantum resistance hinges on timely protocol changes, balancing security upgrades with evolving cryptographic threats. T...
NextBlock invests $3 million in Soda Labs blockchain privacy startup
Soda Labs' funding boost could accelerate privacy tech adoption in blockchain, potentially reshaping financial transactions and da...