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0 sats \ 2 replies \ @thrown 22 Feb 2022 \ parent \ on: "Okay So Your Bank Account Is Frozen" Starter Pack bitcoin
Consider any political dissident. Your fiat is frozen, and you can’t spend your crypto because anyone that does business with your wallet will be punished.
Converting to monero would be a really simple way to fix it. I suppose they could use a coinjoin to a new bitcoin wallet, but chainanalysis can still track that. They could follow a user guide for how to “clean your bitcoin with lightning” but I was not able to understand the guide.
What privacy does Lightning provide? I’ve listened to multiple podcasts on this topic specifically and everyone says the same thing. Mumbling about how it doesn’t really provide privacy, but how they are looking to add new features in the future that will make it more private.
you can’t spend your crypto because anyone that does business with your wallet will be punished.
I'm confused, I don't think you are saying that Canadians are punished if they do business with blacklisted bitcoin addresses but it's perfectly fine for them to do business with monero addresses. Is that what you are saying?
Converting to monero would be a really simple way to fix it.
If you tell people to "just convert to monero" they will probably do it on an exchange and dox themselves to it. They will probably hold their money on the exchange (unless you give them further instruction) and any transactions they make to other users will be similarly doxed. Bam, their account gets frozen.
If you give them the further instruction "move your money to your own wallet" they will probably use a light wallet and dox their ip address to the node operator whose node allows that wallet to see what's happening on the blockchain. That node operator is subject to sudden arrest or investigation by the government, and he can even be forced to stop servicing a particular user's wallet. Normie gets screwed again.
If you give the normie even further instructions to not only move his funds to his own wallet but also run his own node, you are giving him about just as many instructions as a bitcoiner would give except we would also say "use a privacy wallet such as joinmarket or samourai or wasabi or any lightning wallet."
What privacy does Lightning provide?
It is very difficult for an attacker to identify the sender or the amount sent. If the recipient is running a tor node (which the majority are) it is also very difficult to connect the recipient to a real world identity.
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but it's perfectly fine for them to do business with monero addresses
Yep. Because they can just transfer the monero to a new wallet and nobody is the wiser. Problem solved. Obviously every move you make on Bitcoin is tracked from place to place.
It is very difficult for an attacker to identify the sender or the amount sent.
Correct me if Im wrong, but aren’t most lightning channels rented from nodes? So the node you’re buying the channel from sees your lightning wallet address?
If the recipient is running a tor node (which the majority are)
So you do expect the lightning user to run their own node over tor? That’s not “just use any lightning wallet” anymore.
it is also very difficult to connect the recipient to a real world identity.
How do you onboard on to lightning without doxxing yourself?
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