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Bitcoin Privacy / Mixing
5 sats \ 5 comments \ @frostdragon 13 Aug 2022 bitcoin
I just have to say - thank god mixing isn’t something that happens on the base layer.
With digital currency, if you have 100% privacy, you inherently have an easy money laundering tool. That’s not a simple conundrum.
But we can have that debate amongst ourselves and with our governments without risking the integrity of the entire thing. We can have bitcoin with mixing. We can have bitcoin without mixing. Bitcoin is still bitcoin.
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5 sats \ 1 reply \ @DarthCoin 13 Aug 2022
https://darthcoin.substack.com/p/bitcoin-and-privacy
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0 sats \ 0 replies \ @badabing 13 Aug 2022
Interesting read, thanks!
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0 sats \ 0 replies \ @GRIN 13 Aug 2022
Yes, that's one of the trade-offs. Type of this thing: fast, secure/reliable, cheap. You can pick 2 of those.
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0 sats \ 1 reply \ @tomlaies 13 Aug 2022
Mixing is happening on the base layer? Coinjoin as well.
I guess you could argue that under certain definition that already counts as another L2 ... but that is not how we usually understand these words.
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0 sats \ 0 replies \ @frostdragon OP 13 Aug 2022
Yeah I guess the last three sentences is what I mean when I say “not base layer”. You’re right, it technically is base layer, but not inherently built into the source code. Mixing requires extra effort that isn’t required for bitcoin to work.
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