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Issue #640: A peek into the future

Issue #640: A peek into the future

Dec 26, 2019
Marty's Ƀent

Issue #640: A peek into the future

It's that time of the year/decade when people write retrospectives of what has happened and predictions about what will happen moving forward. Our good friend John Newbery gifted us with a monster thread of predictions for Bitcoin's next decade, and if things go according to plan the Roaring 20s are slated to be the years that Bitcoin levels up in terms of usability, scalability, and fungibility.

Definitely go check out the thread when you get a chance because John does an incredible job of describing how a bunch of individual, disparate technologies being worked on at different parts of the stack will come together to create a juggernaut.

If you're too lazy to go check out the thread, I highlighted what I believe will be one of the most imperative changes to ensure sufficient fungibility at the protocol layer, PayJoin transactions becoming more common and hopefully the standard within wallets. As you freaks may know, there are a lot of people out there who are poo-poo-ing Bitcoin's fungibility and saying that CoinJoins are bad because you don't know if you're transacting with a terrorist or not. Firstly, this is terrible logic, especially if your alternative is to use privacy focused cryptocurrencies that will certainly be used by criminals as well. (Bitcoin is like water, it can be used by anyone who can access it.) Secondly, it shows a bit of cowardice and signals that bitcoiners shouldn't strive for privacy.

The best way to put this debate to rest is to make every transaction a CoinJoin. Make privacy by confusion the standard by making PayJoin the standard in wallets. This will increase privacy AND make transacting cheaper if Schnorr signatures are added and the inputs can be aggregated into a single signature. A win-win-win all around.

Don't let the haters scare you when it comes to the future of bitcoin's fungibility. If you're paying attention, the future is bright.


Final thought...

James Brown's Christmas album is severely underrated.


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