Jon Matonis

Forbes contributor | At the intersection of free banking, cryptography, and digital currency | Chairman at SOL Strategies Inc

[Jon Matonis @jonmatonis]

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

[Jon Matonis @jonmatonis]

@DominicFrisby @FinancialSense_ https://t.co/8SfelC9R3X

[Jon Matonis @jonmatonis]

@DominicFrisby Financial Sense Newshour with James Puplava. He covered early bitcoin/gold developments with me. @FinancialSense_ https://t.co/o1mezXXxKG

[Samourai Wallet @SamouraiWallet]

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

[The Block @TheBlockCo]

BitGo settles with US Treasury over sanctions violations
https://t.co/g8VxzzSmN0

[Jake Chervinsky @jchervinsky]

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.
https://t.co/eoMOg27BL3

[CoinDesk @CoinDesk]

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
https://t.co/9J5NnT5oi1

[Clark Moody @clarkmoody]

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.

[Jon Matonis @jonmatonis]

@btcblackcab @evoskuil @nallyghee @SGBarbour https://t.co/vlZnTH0tW4

[Eric Voskuil @evoskuil]

@jonmatonis @nallyghee @SGBarbour https://t.co/syv1hGSHgo

[Jon Matonis @jonmatonis]

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.

[Marshall Hayner @MarshallHayner]

When regulators, innovators, and everyone in between works together, we all win.

Read my latest piece in The Hill, where I discuss the new ruling proposed by FinCEN and why I think this can be a win for crypto.

https://t.co/JH9CgNDMDo

[Jon Matonis @jonmatonis]

Crypto Fee showing 1-day fee generation and 7-day average fee generation for leading networks. https://t.co/Pm7sbgjBcU

[Jon Matonis @jonmatonis]

@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.

[Jon Matonis @jonmatonis]

@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.

[Jon Matonis @jonmatonis]

@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.

[Jon Matonis @jonmatonis]

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

[Jon Matonis @jonmatonis]

@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.

[Jon Matonis @jonmatonis]

@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.

[Jon Matonis @jonmatonis]

@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.

[Jon Matonis @jonmatonis]

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

[Jon Matonis @jonmatonis]

@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?

[Jon Matonis @jonmatonis]

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

[Jon Matonis @jonmatonis]

@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.