Author: Chris Belcher 2021-03-02 11:56:11
Published on: 2021-03-02T11:56:11+00:00
The concept of a completely transparent Bitcoin has been dead for many years due to various privacy technologies such as CoinJoin, Lightning Network, PayJoin, change avoidance, avoiding address reuse, and forthcoming ones like CoinSwap and WabiSabi. A recent email thread on the bitcoin-dev mailing list discussed Taproot, which some feared would reduce transparency (increase privacy) on the chain. However, it does not enable Monero-like privacy features. Instead, it makes transactions with embedded smart contracts less expensive, potentially improving privacy depending on user behavior. The existing features of Bitcoin must be maintained, and the core functionality values of Bitcoin must remain unaltered. Use of a Bitcoin mixer is to enable standard equivalent privacy, and an honest person's wallet is available for government audit as are their financial affairs. Full disclosure of affiliation with referenced websites and mixers is a courteous practice that should always be followed when publicly talking about bitcoin transaction privacy.
Updated on: 2023-06-14T18:23:16.247920+00:00