0/3 @mattshap1 and I just published "Privacy is a Feature, Not a Product"
multicoin.capital/2019/09/24/pri…
1/3 In the essay, we argue that privacy is a feature of valuable cryptocurrencies, not a product offering in and of itself. Users should not have to take balance sheet risk (e.g. by selling some BTC or ETH for ZEC) on less valuable and less secure cryptocurrencies
2/3 in order to achieve financial privacy. At the end of the essay, we study the nascent privacy pools on Bitcoin and Ethereum to evaluate if they offer sufficient privacy guarantees for most users to never need niche privacy-focused blockchains.
3/3 I hope you enjoy the read, and I definitely hope curious minds dive deeper into our "Cost to Deanonymize" metric. We made a lot of assumptions, and it would be good to see the results of a more rigorous study.
4/4 Disclosure: Multicoin Capital is long BTC-USD and ETH-USD; and short ZEC-BTC and XMR-BTC.
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