Incredibly important interview, probably your best one yet, and more crucial than most people realize. Please keep educating people about Bitcoin privacy. Matt raised a terrifying and real risk to the future of bitcoin. Don't discount government controls, most world governments are becoming more authoritarian , just look at Canada. The exchanges have ALL your data and they sell it on.
+1 to this idea. You should invite Mauricio Di Bartolomeo, Ledn co-founder who lived through hyperinflation in Venezuela. The family's story is insane!
One less commonly known privacy risk is using a blockchain explorer through browser - the webpage may collect info about you, the addresses you looked for may be stored in your browser history or intercepted. Revealing that you know about certain addresses is a security risk. One should ideally use own full node, a trusted node or at least anonymize the connection.
XPUB = "extended public key" sometimes it just helps not to use the abbreviation. It's extended because it's a key that can be used to generate more keys... It is a key that can be used to tell an app all of your receive addresses. We also have XPRIV, which is your main key that is used to generate all the private keys for all of the addresses you own. XPUBS are useful to set up a wallet on your phone that can see your balance and transactions but cannot sign transactions (you need private keys for that). Your private keys would be kept safe on a hardware wallet with backups that are hidden away somewhere safe and hard to get to. I digress. When thinking about coin joins and how people stand out like a sore thumb, I had a thought that people like to follow the masses. This is why people still use WhatsApp when it is owned by Facebook, even if they hate Facebook. If we could make coinjoin something fun collaborative and social, that would attract the masses. Food for thought.
@@thePontiacBandit the point is less to do with highlighting the encryption, and more about sharing stats like: your privacy factor is 10, you just mixed with your trusted mixing friend Bazza (a locally known fact, not known by central servers), your privacy factor is 59.73 Basically gamifying it but also encouraging it to be something we openly talk about and do collaboratively. Removing the stigma. Badges for mixing solo (training wheels off) because mixing with friends is a nice intro, but mixing without friends is even better in reality.
Relatively new to this space. Fascinating discussion. Had a walk-through of Ciradel Dispatch while listening. Holy cow, this is the site I have been looking for. I generally enjoy all your content (even if I sometimes have to spend a couple of hours researching afterwards, just to understand what I just heard), but, to me, this is the most valuable episode I've listened to. Many thanks for publishing this discussion!
Regulatory capture is already fully there in several areas of industry, say pharmaceutical and chemical. The reasons are always the same: "terrorism, drugs, money laundering". The narrative is prevalent especially here in EU. Being an enterpreneur in such highly regulated industry is virtually impossible unless you have a lawyer to consult compliance with ever growing set of rules (REACH, OSHA, GDPR). The regulations discriminate in favor of big companies and these do business only with other compliant companies. It's like a private club for few and you can't do much to enter it if you don't know how to swim in that pond (meaning how to get subsidized by EU just to be competitive, have a specialist lawyer just to know and implement all the regulations etc. etc.). There are small number of players (companies) that are perfecly okay with the system and even encourage more regulation as it removes their competition. Plus anyone not complying can be harshly fined (revenues just from violating GDPR already exceeded 1 billion EUR) making an additional source of money for the redistribution machine. It's an unfair and almost hostile environment but people/voters still don't care enough as they are mostly employess or office workers and just don't see the damage in it's full extent.
Thank you for posting! I need guidance: My crypto wallet on OKX has some USDT trx, and I know the SEED: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. Could you suggest how can I proceed with moving them to Kraken?
Not exactly, no. Based on the input/outputs of that transaction, and the transactions that follow, it’d be highly probable that the address belongs to you. Like Matt said, they operate based on probabilities.
Good money and the understanding of cash transactions on Lightning Network. That’s my and my companies focus. Building a AI protected routing infrastructure supporting expanded Onion Protocol and Watchtower functions to secure transactions.
I feel skeptical about the last app he mentioned ("Feniments"?). Providing privacy from a centralized app? If it ever amounts to anything I expect regulators will go after it, it will simply be banned or demanded to provide KYC for every user and send the info to your local government.
Agreed, The big boys have always been watching, its also obvious who just might have created Satoshi Nakamoto (to teach people to hold there own private keys and coins anonymously, we would not have listened to Banks and they know that) You think so?... World power Banks, Satoshi and the BIS need us/you more then you think, (they like you) they don't hate us, they just need us to contribute to the 'World Tunnel of Cash Flow' then they manipulate it like gold in 1933 ( now BTC and Cryto currencies) we just haven't gotten that far yet ?!? 🤯
Convenience is so important! Think of Windows vs Linux, the only reason Linux doesn't have massive desktop adoption is because it's inconvenient, it's not easy.
I’m a newbie and I’m trying to work this out because Edward Snowden has raised this important question that is clear everybody’s avoiding including this interview..If bitcoin can be made private what the fuck are they waiting for because I’ve heard Peter say it in his interview with Andres A. Financial privacy is important! If bitcoiners won’t discuss what Edward Snowden has to say we don’t have a fucking chance..Ed’s only put his life on hold to give us the info …shit he’s been telling us for 10 years now and doctors and lawyers and all those professions responsible for protecting our privacy have continued to ignore Ed and now bitcoiners are doing it ..what the fuck… let’s have a conversation ..what are the developers waiting for private this shit up!
This was a great interview , but i cant help think as a bitcoiner why not just use monero. All these hoops and loops and skipping and jumping is not necessary or attenable by 99% of bitcoin users. Bitcoiners seem to think its bitcoin or nothing, when in REALITY different tools for different purpose. BTC is king of the blockchain, but XMR is king of privacy just face it.
Odell is more paranoid than most the Bitcoiners to whom I've been listening. As someone who only owns KYC sats, I hope it's unjustified. I have more research to do.
Peter (or team) responded to me that they only do in-person interviews and that Willy lives too far away 😥 I miss his insights too. I haven't seen him on any recent interviews. Willy must be enjoying the family life during the global economic uncertainty...
It is already happening in developing nations. Some 97 Walmarts are using it in El Salvador. Starbucks, Pizza Hut, etc. These companies have locations in other countries that can adopt BTC based on the rails they already set up El Salvador. It may be complicated but in some nations goat herders are already using it while educated American's believe it is too complicated. When we hyperinflate it will be amazing to see how fast this goes from "too complicated" to "extremely necessary."
Lol people had to be beaten into submission where they couldn't use other nations silver coins in the middle 1850's in America, they had to use worthless fiat for money...lol Give it time you not using silver coins for the medium of exchange in America....
In Australia Burner phones are illegal and every phone is connected to your identity so it doesn’t really matter how we buy it this guy sounds drunk and is not talking about privacy and bitcoins ability to become private why?
I have watched up to 1:10:40 and this podcast has been disappointing. I don't know how Odell is able to make a living off his privacy expertise (if this is what he does). He didn't say much at all, almost nothing. Privacy on bitcoin sucks, really bad. And even using bisq and things like that you are still not safe, because if in the future you want to use those coins you are still in trouble.
Incredibly important interview, probably your best one yet, and more crucial than most people realize. Please keep educating people about Bitcoin privacy. Matt raised a terrifying and real risk to the future of bitcoin. Don't discount government controls, most world governments are becoming more authoritarian , just look at Canada. The exchanges have ALL your data and they sell it on.
Monero is King
Love your podcasts. Please consider doing an episode with someone who lives in a high inflation country and has used bitcoin as a hedge.
Pete, this is an incredible idea podcast topic idea!!
Yes to this.
+1 to this idea. You should invite Mauricio Di Bartolomeo, Ledn co-founder who lived through hyperinflation in Venezuela. The family's story is insane!
Yes - Please do this.
Great interview.
Matt Odell, full on bitcoiner but still realist and able to explain things very well.
One less commonly known privacy risk is using a blockchain explorer through browser - the webpage may collect info about you, the addresses you looked for may be stored in your browser history or intercepted. Revealing that you know about certain addresses is a security risk. One should ideally use own full node, a trusted node or at least anonymize the connection.
XPUB = "extended public key" sometimes it just helps not to use the abbreviation. It's extended because it's a key that can be used to generate more keys... It is a key that can be used to tell an app all of your receive addresses. We also have XPRIV, which is your main key that is used to generate all the private keys for all of the addresses you own. XPUBS are useful to set up a wallet on your phone that can see your balance and transactions but cannot sign transactions (you need private keys for that). Your private keys would be kept safe on a hardware wallet with backups that are hidden away somewhere safe and hard to get to.
I digress. When thinking about coin joins and how people stand out like a sore thumb, I had a thought that people like to follow the masses. This is why people still use WhatsApp when it is owned by Facebook, even if they hate Facebook.
If we could make coinjoin something fun collaborative and social, that would attract the masses. Food for thought.
Johnny doesn't care about encryption or privacy until he is forced to. Not fault, a feature of living in relatively peaceful times.
good idea... fee sharing too...maybe...
@@thePontiacBandit the point is less to do with highlighting the encryption, and more about sharing stats like: your privacy factor is 10, you just mixed with your trusted mixing friend Bazza (a locally known fact, not known by central servers), your privacy factor is 59.73
Basically gamifying it but also encouraging it to be something we openly talk about and do collaboratively. Removing the stigma.
Badges for mixing solo (training wheels off) because mixing with friends is a nice intro, but mixing without friends is even better in reality.
I’d like to see Odell debate a monero maxi
this was lights out, I learned so many things I hadnt spent the time to understand or didn't even know existed.
Brilliant conversation, Peter, thanks! You, your team and your guests play a critical role in shaping the future of the network.
I enjoyed this. Gave me some stuff to research. Hope the hangovers weren’t too bad. Cheers.
Your podcast is getting better and better - it is obvious that you and the team are making an effort to deliver quality content. It is appreciated.
Why is this couple denying monero
Really enjoying these podcasts
Danny doesn’t get enough love. Dude is much smarter than is assumed. He asks great questions all the time.
Relatively new to this space. Fascinating discussion. Had a walk-through of Ciradel Dispatch while listening. Holy cow, this is the site I have been looking for.
I generally enjoy all your content (even if I sometimes have to spend a couple of hours researching afterwards, just to understand what I just heard), but, to me, this is the most valuable episode I've listened to.
Many thanks for publishing this discussion!
Welcome back to Nashville, Pete! Loved the live pod with Preston and Marty last time you came.
Regulatory capture is already fully there in several areas of industry, say pharmaceutical and chemical. The reasons are always the same: "terrorism, drugs, money laundering". The narrative is prevalent especially here in EU. Being an enterpreneur in such highly regulated industry is virtually impossible unless you have a lawyer to consult compliance with ever growing set of rules (REACH, OSHA, GDPR). The regulations discriminate in favor of big companies and these do business only with other compliant companies. It's like a private club for few and you can't do much to enter it if you don't know how to swim in that pond (meaning how to get subsidized by EU just to be competitive, have a specialist lawyer just to know and implement all the regulations etc. etc.). There are small number of players (companies) that are perfecly okay with the system and even encourage more regulation as it removes their competition. Plus anyone not complying can be harshly fined (revenues just from violating GDPR already exceeded 1 billion EUR) making an additional source of money for the redistribution machine.
It's an unfair and almost hostile environment but people/voters still don't care enough as they are mostly employess or office workers and just don't see the damage in it's full extent.
Thank you for posting! I need guidance: My crypto wallet on OKX has some USDT trx, and I know the SEED: -clean- -party- -soccer- -advance- -audit- -clean- -evil- -finish -tonight- -involve- -whip- -action-. Could you suggest how can I proceed with moving them to Kraken?
what stops regulation blacklisting mixing services and coinjoin platforms? Its already been done to wasabi wallet.
@@ElectronicHypnotic all coinjoin transactions are easily visible on the blockchain and those coins can and are being blacklisted.
Yes, Nashville! And a small area for a "studio audience"! I'd come (with whiskey!)...😉
🚨 Most important part of the inverview is right at the end (1:16:30). Did Binance really give KYC info to Putin?
Good episode, didn't expect it.
Odell and Bitcoin twitter got me into privacy and security 🔐
Can you send yourself sats via lightning network? If so, doesn't that break the chain analysis?
Not exactly, no. Based on the input/outputs of that transaction, and the transactions that follow, it’d be highly probable that the address belongs to you. Like Matt said, they operate based on probabilities.
What's the tipple Peter? Bourbon over ice. 👍👍👍
Matt looked like Doyle from Sling Blade here. Lol
Good money and the understanding of cash transactions on Lightning Network. That’s my and my companies focus. Building a AI protected routing infrastructure supporting expanded Onion Protocol and Watchtower functions to secure transactions.
I feel skeptical about the last app he mentioned ("Feniments"?). Providing privacy from a centralized app? If it ever amounts to anything I expect regulators will go after it, it will simply be banned or demanded to provide KYC for every user and send the info to your local government.
"I've already come to the conclusion that with or without me, with or without you, bitcoin will be the money of the world"
Agreed, The big boys have always been watching, its also obvious who just might have created Satoshi Nakamoto (to teach people to hold there own private keys and coins anonymously, we would not have listened to Banks and they know that) You think so?... World power Banks, Satoshi and the BIS need us/you more then you think, (they like you) they don't hate us, they just need us to contribute to the 'World Tunnel of Cash Flow' then they manipulate it like gold in 1933 ( now BTC and Cryto currencies) we just haven't gotten that far yet ?!? 🤯
yes...Matt... thanx
Amazing conversation but why is Peter Schiff peeking at them from the TV corner? 😂
Inside joke from early on in the show 😅
Get Max Keiser on
Where can buy the hat Odell?
Convenience is so important! Think of Windows vs Linux, the only reason Linux doesn't have massive desktop adoption is because it's inconvenient, it's not easy.
I was waiting for Jamie to come smack Matt's hands for non-stop touching the mic.
Finally!
I’m a newbie and I’m trying to work this out because Edward Snowden has raised this important question that is clear everybody’s avoiding including this interview..If bitcoin can be made private what the fuck are they waiting for because I’ve heard Peter say it in his interview with Andres A. Financial privacy is important! If bitcoiners won’t discuss what Edward Snowden has to say we don’t have a fucking chance..Ed’s only put his life on hold to give us the info …shit he’s been telling us for 10 years now and doctors and lawyers and all those professions responsible for protecting our privacy have continued to ignore Ed and now bitcoiners are doing it ..what the fuck… let’s have a conversation ..what are the developers waiting for private this shit up!
Sparrow hat, hell yeah
LOL, why is there a picture of the Peter Schiff on TV?
This was a great interview , but i cant help think as a bitcoiner why not just use monero. All these hoops and loops and skipping and jumping is not necessary or attenable by 99% of bitcoin users. Bitcoiners seem to think its bitcoin or nothing, when in REALITY different tools for different purpose. BTC is king of the blockchain, but XMR is king of privacy just face it.
I neeeeed a sparrow hat
The dude from gold rush...cool
Monero.
Base layer privacy or GTFO.
I left this just feeling fawkkkkkkd
yes good
Odell is more paranoid than most the Bitcoiners to whom I've been listening. As someone who only owns KYC sats, I hope it's unjustified.
I have more research to do.
touching his eye at the end is a signal that it was not a pleasure... go figure?
Seriously, where’s our boy Willy Woo!!!??!
Rekt
Peter (or team) responded to me that they only do in-person interviews and that Willy lives too far away 😥 I miss his insights too. I haven't seen him on any recent interviews. Willy must be enjoying the family life during the global economic uncertainty...
Great seeing Alexander Volkanovski getting involved in the bitcoin space
Just use monero
I get the need for privacy, but Bitcoin will never achieve mass adoption as long as holding and spending it is this complicated.
user interface is getting better...
privacy doesn't have to be conceded to user experience. It should be inherent.
It is already happening in developing nations. Some 97 Walmarts are using it in El Salvador. Starbucks, Pizza Hut, etc. These companies have locations in other countries that can adopt BTC based on the rails they already set up El Salvador. It may be complicated but in some nations goat herders are already using it while educated American's believe it is too complicated. When we hyperinflate it will be amazing to see how fast this goes from "too complicated" to "extremely necessary."
Lol people had to be beaten into submission where they couldn't use other nations silver coins in the middle 1850's in America, they had to use worthless fiat for money...lol
Give it time you not using silver coins for the medium of exchange in America....
Bitcoin 'privacy' is a joke. Just use actual coins with actual privacy. smh.
Monero
Indeed.
This episode made me realize "mass adoption" will never happen.
I disagree. It is the apex asset.
samurai got rekt
In Australia Burner phones are illegal and every phone is connected to your identity so it doesn’t really matter how we buy it this guy sounds drunk and is not talking about privacy and bitcoins ability to become private why?
I'm not letting Pete pour me a drink. Fingers in ice...please no. Otherwise good show.
Grow up
I have watched up to 1:10:40 and this podcast has been disappointing. I don't know how Odell is able to make a living off his privacy expertise (if this is what he does). He didn't say much at all, almost nothing.
Privacy on bitcoin sucks, really bad. And even using bisq and things like that you are still not safe, because if in the future you want to use those coins you are still in trouble.
how so?
@Captain Reason even if you have no KYC coins, you are safe only if you deal with other no KYC entities, which is almost impossible.
Forensics. I can't
Danny needs to get more involved
just stop touching that damn microphone arm ...
should have just used Monero. Bitcoin is such a shitcoin for privacy.
it is better to use the utopia ecosystem. Bitcoin is outdated.
Don't bring him back lol.