Jon Matonis

Henri Cartier-Bresson’s photo of rush to retrieve gold from Shanghai bank on eve of the communist takeover in 1948

@DominicFrisby @FinancialSense_ financialsense.com/contributors/j…

@DominicFrisby Financial Sense Newshour with James Puplava. He covered early bitcoin/gold developments with me. @FinancialSense_ financialsense.com/our-story

I'm looking to try and promote Daylight Robbery in the US. The paperback comes out next week. Can you suggest any US podcasts which might like to have me on as a guest (libertarian/gold/bitcoin) or bloggers who might like it? amazon.com/gp/product/024…

@OxoUtx @propelforward @jchervinsky @BitGo This is NOT non custodial (despite what they may want to believe). They have a key.

BitGo settles with US Treasury over sanctions violations theblockcrypto.com/linked/89742/b…

OFAC just settled an enforcement action with @BitGo for apparently failing to prevent users in Crimea, Cuba, Iran, Sudan, & Syria from using its service. Lots to say here, but first, it turns out Treasury *doesn't* need more KYC to enforce sanctions laws. home.treasury.gov/policy-issues/…

IN DEPTH: Statechains offer another way to scale bitcoin payments. New exploration has uncovered that statechains could boost #Bitcoin privacy as well. @commerceblock Report by @AlyssaHertig trib.al/EKKX51k

The Dashboard now tracks Whirlpool stats from @SamouraiWallet 🌀 - Unspent coinjoin outputs - Volume into Whirlpool via tx0 - Outbound spending - Cycle count Also: Install Samourai Wallet. Run Dojo.

@btcblackcab @evoskuil @nallyghee @SGBarbour twitter.com/evoskuil/statu…

@jonmatonis @evoskuil @nallyghee @SGBarbour Nice thread gentlemen. When @jonmatonis refers to the “4 phases” was this a talk given by @evoskuil or a written article? Would appreciate a link to this if possible. (If it’s the talk I think I’ve seen it on YouTube but would definitely watch again!)

This is a clear escalation of the Crypto Arms Race (privacy protocols vs. financial surveillance), and the technical privacy protocols must prevail for a free society.

Crypto Fee showing 1-day fee generation and 7-day average fee generation for leading networks. cryptofees.info

@evoskuil @nallyghee @SGBarbour Correct. In order to comply, you must reveal the origin of the bitcoin transaction. However, this compliance does not have to inadvertently reveal other unrelated transactions or total balance information.

@jonmatonis @nallyghee @SGBarbour This is of course the essence and intent of KYC/AML.

@evoskuil @nallyghee @SGBarbour If the law requires a blockchain transaction history that goes 5 hops back, it can be provided. However, if the transaction data that goes 5 hops back is meaningless, it becomes an unfeasible mandate.

@evoskuil @nallyghee @SGBarbour That's not at all what I am saying. In the context of FinCEN requirements for identity verification to/from unhosted (freedom) wallets, it is only feasible to draw conclusions from that single transaction. It becomes essentially a virgin bitcoin.

@evoskuil @nallyghee @SGBarbour How can it be cherry picking context? This is the content of the original post you replied to.

@jonmatonis @nallyghee @SGBarbour Cherry picking context.

@evoskuil @nallyghee @SGBarbour The point I am making is that complying with the law at the point of transaction does not necessarily have to include the crumbs to your full balance and previous archived transaction history. This is what is meant by the Crypto Arms Race.

@evoskuil @nallyghee @SGBarbour I think we have found where the disconnect lies. The law can only address the knowable. It cannot address the unknowable. Intent falls into the unknowable unless of course the intent is explicitly revealed.

@evoskuil @nallyghee @SGBarbour The usage of certain privacy tech does not really leave a footprint so it's not addressable through the law. While I concur on your 4 phases, individual safety/protection is critical during honeymoon and black market phases. Practicing coin hygiene is akin to wearing a condom.

@jonmatonis @nallyghee @SGBarbour You seem to think I’ve rejected privacy tech. The point I’ve made is that using it can easily be (to the extent it’s not already) made unlawful. As I said, people must be willing to break the law to get the advantage. Tech will not enable white market private transaction.

@evoskuil @nallyghee @SGBarbour Is there a "fallacy of coin mixing" in your series that I am missing?

@evoskuil @nallyghee @SGBarbour I realize what you are saying. However, practicing proper coin hygiene is not breaking the law. When, if ever, do you believe the practice of coin hygiene would be prudent or necessary?

@evoskuil @nallyghee @SGBarbour Any entity holding private keys is part of Bitcoin.

@nallyghee @SGBarbour @jonmatonis What’s so special about a “hybrid”? Trade for it or mine it. Exchange banks are not part of Bitcoin.

@evoskuil These inevitable controls for $3,000/$10,000 bring bitcoin AML compliance in line with cash AML compliance. However, unlike cash, the data retention is a baby step towards actionable linked transaction information. Math, or privacy protocols, can break that linkage.

@jonmatonis It’s not an arms race for white market acceptance. It’s a black market money. These controls are inevitable.