I am really enjoying your channel Ian. It is a challenge to find videos that teach at my level. will continue to catch up with more of your work. Thank You.
Thank you for these educational videos! Greetings from Czech republic! I've been thinking how to acquire some non-KYC coins without sites like hodl-hodl, Bisq or meeting p2p and I have an idea and I'd love to see what do you think of it. I'm not aiming to hide, that I'm purchasing BTC but rather to hide the final address of my cold storage. My exchange let's me send both on-chain and Lightning Bitcoin but I need to get it to segwit address regardles. So I thought I could send Lightning payment to site called FixedFloat (or any other LN to On-Chain exchanges) with VPN enabled, convert it to on-chain and let it sit on my Cold Storage. Is this a legit way or am I better of with sending it to Samurai and mixing it?
Greetings Jan! It's a great question, and admittedly I think the answer is 'it depends' on exactly how FixedFloat and others are performing the service and recording information about it. For example, these services could be using submarine swaps or something more basic and in theory could be recording information either way that links the lightning input you sent them and the on-chain destination address you then want to send to. So ultimately without knowing definitively exactly what information they record / don't record, it remains an unknown and you'd therefore probably anyways want to mix your sats afterwards. I like how you're thinking though - will try to investigate some of these services a bit more. I'm sure there are some that DON'T track all sorts of info in which case that could indeed be a pretty solid approach.
Isn't p2wkh actually hiding the fact I was using 2 of 2? You already had a way to hide your channels ON FUNDING. (this however still did not hide the multisig on closing, as you'd have to publish the script in order to show the preimage) Or am I wrong here? Also I guess Taproot only hides the 2 of 2 in case of cooperative closig. Can someone please verify?
That's correct on Taproot hiding cooperative closes. For the former, I'd admittedly need to brush up on my scripting to weigh in conclusively on that specific behavior 😅 Will revert if I find anything definitive and perhaps in the interim someone else can chime in here.
Thanks for the video @IanMajor I've been looking for a while now for a video that actually gives technical details behind the fluff of most videos that just say how "cool" the lightning network is ⚡ without discussing security. What attracted me to the crypto space years ago was the privacy and security involved now that cash will seemingly be going away
Appreciate the feedback! I'm certainly at times guilty myself of having overly rose-tinted glasses, but I do try to balance that with content like this :) I think there's room for MUCH more scrutiny like this within the Bitcoin community.
Maybe you want to minimize the data you'd otherwise share with custodial solutions. Maybe you want to try to earn a yield on your btc by operating a routing node or participating in liquidity marketplaces. Maybe you're a service provider. Certainly not suggesting it's for everyone, but "it does nothing" is a lazy statement. Not sure I'm following the witness with no recourse comment
