Bitcoin "will have no privacy improvement", vents Samourai Wallet

Charlie Taylor

Coingoback" srcset=" 700w, uploads/2022/06/Banner-Coingoback-700x150-1-300x64.jpg 300w, 150w, 585w" data-sizes="(max-width: 700px) 100vw, 700px " width="700" height="150" style="display: inline-block;"/>In an interview with Douglas Tuman's podcast, the lead developer of the Samourai Wallet wallet, stated that bitcoin will not have significant privacy improvements in the protocol and explained the reasons for strongly believing it.

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Looking at ways to add more anonymity to bitcoin— halfin (@halfin) January 21, 2009

Since then, many proposals have been created but no major changes have been made.

Samourai Wallet developer vents

Even with problems, some cypherpunks struggle to make life difficult for blockchain snoopers. One of them is the lead developer at Samourai Wallet, he explained in a podcast with Douglas Tuman that he is trying to fight in the application layer to confuse companies that use blockchain data analytics and adopt KYC and AML practices. ChainAlysis  and other organizations use data in the bitcoin blockchain to infer with great certainty if the transactions went through some entity considered illegal by some government. This data is often used to bar transactions at crypto-assets brokers. But this was not always the case, and for a long time much of the community expected that we would see considerable improvements in bitcoin privacy at the protocol level: “In 2012 we believed that the issue of privacy would be resolved someday in the bitcoin protocol, but that hasn't happened and at this point I don't see privacy improvement for Bitcoin,” said the Samourai developer. Although considered a privacy upgrade, the developer at Samourai believes Taproot does not create significant advantages and those expected for the upgrade were cut at the last minute. “We have a lot of well-informed maximalists who say Taproot is a considerable privacy improvement, but no. Taproot's current improvement was subscription aggregation, but that part was removed before the activation sequence started.” The developer further stated that cryptocurrency compliance advocates are against privacy as they believe it can affect the price of the cryptocurrency. One of those advocates is Tone Vay, a banker who spent 10 years on Wall Street and was VP at JP Morgan, now one of the main critics of Samourai Wallet. In the documentary Bitcoin: Beyond the Bubble, Vays claims to believe in the theory of the value of work advocated by Karl Marx and in the intrinsic value of an asset, two ideas that are seen as economic 'earthwork' by some schools of economics. In recent weeks the wallet has been attacked by bitcoin maximalists for integrating a function that could make it difficult to analyze public bitcoin transactions, the atomic swap with Monero. For Samourai's developer the technology and mathematics behind the Monero privacy coin is “sound”, meaning very good and can be used to confuse analytics companies in the bitocin blockchain. Samourai will implement in the coming months the atomic exchange between Bitcoin and Monero, which will allow the trading of the two assets without a central intermediary. Read too:

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