[Cryptography] What are the privacy implications of bitpay
grarpamp at gmail.com
Mon May 20 00:08:23 EDT 2019
On 5/19/19, jamesd at echeque.com <jamesd at echeque.com> wrote:
> With the designed method of bitcoin, you can pay someone quite
> anonymously. They issue payment address, which is actually a public
> key, and then value mysteriously appears in the blockchain for that
> public key, with no indication of how it got into the blockchain.
> Bitpay, however, initiates a direct conversation between the payee and
> the wallet, and it looks to me that entities cosy with the state are
> pushing bitpay onto us, demanding payment by bitpay.
> Bitpay initiates a conversation between the website and the wallet, and
> thus, and thus, modulo vpns and all that, locates the physical location
> of the wallet. But that in itself is pretty harmless, because you have
> to interact with their website anyway, so you already leak that information.
> What additional information goes into a bitpay payment? Seems to me
> that it is being pushed for ulterior and unrevealed reasons.
The underlying problem is that most coins are
not privacy coins at the protocol level, and hardly
that with most mix, but moreso with better coinjoin etc.
Or you can push out from privacy coins per tx / day / week,
with lots of cost and headaches, or just adopt and use
them natively... Zcash, Monero, many more before long,
as the better overall solution. The point of opensource
cryptocurrency is to evolve and survival of fittest past
the genesis... nonprivacy coins are early legacy tech
and hardly fit and cannot survive privacy and other attacks...
you know much more now, so go and evolve past those
No, you're talking to the chain, bitpay reads the chain.
Of course bitpay is a third party seeing both sides, so
they're still vomit compared to direct onchain to payee wallet.
And governments love that middle siphon op. Expect them to
require a checkout ID swipe for that soon... so you have
about 30 minutes to adopt and entrench faster than they
can fuck you over with that too... thanks to you wasting
your time with blocksize and price, instead of adoption
and advancing designs.
If using the complete garbage Gemini backed Flexa SPEDN app
then yes, that's even more severe exploitation of privacy
and so many other things on a whole other level
beyond even Bitpay.
So now brick and mortar retail is trending poorly in
regard true adoption of true distributed cryptocurrency.
Coins without privacy are worse than fiat cash, no
one wants worse, it leads straight to your life controlled
and enslaved hell.
You need to educate payees on wallet ops, conversions,
holdback profits as investment, promise of true
distributed cryptocurrency. And everyone on privacy coins.
It's not that hard.
"Money" is ultimately backed by nothing but belief.
And now there's a much more agnostic, fair and
less murderous choice than Fiat.
So don't let the BankGovCorp FUD propaganda brigade and
puppet masters sway you. Distributed scalable private cryptocurrency
is solveable tech, and you know it's power for you.
So go solve and adopt it.
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