Bitcoin Privacy with Matt Odell - WBD518
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 24 June 2022
⏱️ 97 minutes
🧾️ Download transcript
Summary
Matt Odell is host of the Citadel Dispatch and venture partner at Ten31. In this interview, we discuss why each additional positive act of privacy protection improves Bitcoin's resilience and value. Perfecting privacy is not the goal; making a start is, as we don't know what the future holds.
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Our privacy is continuously being eroded. Current best estimates are that 2.5 million terabytes of data are produced every day. A material amount of that information has extremely lax privacy protection: 98% of Internet of Things data is unencrypted; 83% of companies encrypt less than half the data they store on the cloud; 25% of websites are visited without encryption.
Vast amounts of the data we freely shed are stored, analysed and triangulated for commercial reasons. These tactics are so sophisticated that it's not uncommon for people to think companies are listening to their conversations.
We are being squeezed for our data in almost all aspects of our lives while cash, traditionally the only semi-private way of transacting, is being removed from society, and CBDCs inch closer to reality. Imagine if companies or governments could access and track your income, store of wealth and all those with whom you transacted. What is currently unnerving behaviour by those who track our data could rapidly become something much more maligned and coercive.
Bitcoin is freedom money. But using bitcoin privately isn't an easy task. The vast majority of Bitcoin is bought using exchanges that have stringent KYC/AML requirements. When you pair these onramps with surveillance firms like Chainalysis, using bitcoin goes from being pseudonymous to almost entirely transparent. But there are things you can do to gain good privacy with bitcoin. Tools like coinjoin and non-KYC exchanges like Bisq are getting better all of the time, and more and more people are using the Lightning Network for cash like transactions, which offers improved privacy.
Perfect privacy, whether with bitcoin or not, is a pipedream. The goal is to continually improve in protecting a fundamental human right, privacy.
Hosted on Acast. See acast.com/privacy for more information.
Transcript
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| 0:00.0 | I've already come to the conclusion that with or without me, with or without you, |
| 0:06.1 | with or without anyone in this room, Bitcoin will be the money of the world. |
| 0:09.4 | So it's up to us to make sure that it's actually free to money and not cut money. |
| 0:15.0 | Hello there, how are you all doing? |
| 0:18.0 | Welcome to the What Bitcoin did podcast, which is brought to you by Gemini. |
| 0:21.0 | The only place I'm using for buying Bitcoin. I'm your host |
| 0:24.0 | Peter McCormack and before we get into today's interview I do have a message from |
| 0:28.4 | my show sponsors. And this show is brought to you by Gemini, who I am using for buying and sending Bitcoin, but I'm only |
| 0:35.1 | buy and right. |
| 0:36.1 | We're Hodlers, we're not sellers. |
| 0:37.5 | I am also using the Gemini app for buying the Dips, and I have set up my DCA with twice monthly buys of Bitcoin. Both the app and the website make |
| 0:46.2 | buying and sending Bitcoin super easy and Jem and I has invested in building |
| 0:50.4 | industry-leading security since day one. |
| 0:53.2 | And Gemini are now running a special offer for listeners of what Bitcoin did. |
| 0:57.6 | So all you need to do is head over to Gemini.com forward slash WBD and new customers will |
| 1:02.4 | get $20 in Bitcoin when they trade over $100 or more on |
| 1:06.4 | Gemini. If you want to find out more please head over to Gemini.com |
| 1:10.3 | forward to Gemini.com forward to Gemini.com. forward slash W-W-B-D, which is G-E-M-I-N-I-D. |
| 1:17.0 | I'm excited to announce my new sponsor Cake Wallet, |
| 1:19.5 | who I've recently started using as my mobile wallet for Bitcoin. Cake wallet is a non-custodial wallet, which means it protects |
| 1:26.3 | both your security and privacy because it doesn't share your important information with |
| 1:30.6 | unnecessary third parties. And with Cake wallet, not only can you huddle Bitcoin, |
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