June 23, 2025 • 11 mins
The Bitcoin Series Part 10 — Can Bitcoin Be Truly Private?
Surveillance, privacy, and digital freedom.
Is Bitcoin really anonymous — or just pseudonymous? In Part 10 of The Bitcoin Series, we dive deep into the truth about Bitcoin’s privacy. We unpack tools like CoinJoin and the Lightning Network, and explore the growing tension between financial freedom and increasing surveillance.
In a world of KYC, digital IDs, and CBDCs on the rise, can privacy survive at all? And is Bitcoin our best chance to protect it?
This episode is for anyone who’s ever wondered whether decentralization is enough — or whether we need to actively defend our right to be left alone.
Why it matters: This digs into one of Bitcoin’s core promises — financial privacy — and explores both its strengths and limitations in the face of increasing surveillance capitalism.
Stay curious. Stay grounded. Let’s build better.
Listen now and follow The Crypto 101 Show for more deep-dive episodes in this series.
Join the discord server - https://discord.gg/Y9CPnYm8C2
Looking for Crypto apparel? Crypto 101 swag, shirts and apparel available here. This episode is sponsered by Joe Ugly Apparel - www.joeuglyapparel.com
This week's episode was produced by The WIld 1 Media. If you or anyone you know is looking for podcast editing, podcast production, or any other podcast services please reach out to The WIld 1 Media at www.thewild1media.com. Thanks for listening.
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#bitcoin #BTC #crypto #cryptocurrency #defi #coins #cryptocoins #blockchain #finance #inequality #policyagnostic #inflation #centralbanks #technology #lightningnetwork #coinjoin
Surveillance, privacy, and digital freedom.
Is Bitcoin really anonymous — or just pseudonymous? In Part 10 of The Bitcoin Series, we dive deep into the truth about Bitcoin’s privacy. We unpack tools like CoinJoin and the Lightning Network, and explore the growing tension between financial freedom and increasing surveillance.
In a world of KYC, digital IDs, and CBDCs on the rise, can privacy survive at all? And is Bitcoin our best chance to protect it?
This episode is for anyone who’s ever wondered whether decentralization is enough — or whether we need to actively defend our right to be left alone.
Why it matters: This digs into one of Bitcoin’s core promises — financial privacy — and explores both its strengths and limitations in the face of increasing surveillance capitalism.
Stay curious. Stay grounded. Let’s build better.
Listen now and follow The Crypto 101 Show for more deep-dive episodes in this series.
Join the discord server - https://discord.gg/Y9CPnYm8C2
Looking for Crypto apparel? Crypto 101 swag, shirts and apparel available here. This episode is sponsered by Joe Ugly Apparel - www.joeuglyapparel.com
This week's episode was produced by The WIld 1 Media. If you or anyone you know is looking for podcast editing, podcast production, or any other podcast services please reach out to The WIld 1 Media at www.thewild1media.com. Thanks for listening.
FOLLOW US ON:
Facebook - @crypto101show or https://www.facebook.com/The-Crypto-101-Show-100158338867665
Instagram - https://www.instagram.com/crypto101show/
Sign up for our newsletter - thecrypto101show@gmail.com
Produced by The Wild 1 Media - www.thewild1media.com
Check out our other podcasts-
https://darksidediaries.sounder.fm
https://anchor.fm/ttmygh
https://anchor.fm/morning-joe-rant-show
#bitcoin #BTC #crypto #cryptocurrency #defi #coins #cryptocoins #blockchain #finance #inequality #policyagnostic #inflation #centralbanks #technology #lightningnetwork #coinjoin
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:09):
Welcome to the Crypto one on one Show, where we
dive into the world of cryptocurrencies, bitcoin, blockchain, and all
the technology with it. Whether you're experienced or a beginner
to crypto, our goal is to break down complex concepts
and make it easy for you to understand the basics,
from Bitcoin to all coins. We'll cover it all in
a way that's easy to digest and provide listeners with
(00:30):
the knowledge and understanding they need to make informed decisions
and better critical thought. Sit back, relax, and let's simplify
your understanding of cryptocurrencies on the Crypto one on one Show,
(00:52):
Part ten? Can Bitcoin be truly private surveillance, privacy and
digital freedom. I need to start off by saying this
is not financial advice, so if you're looking for that,
the show isn't for you. The content of this podcast
episode is for informational purposes only. The opinions expressed here
are not meant to be taken as financial investment or
(01:14):
any other advice. Welcome back to the Bitcoin Series, Part ten.
In this episode, we're diving into one of the most
misunderstood and most crucial aspects of bitcoin privacy. We're told
bitcoin is anonymous and that it's censorship resistant. But is
that actually true? Or have we just traded one kind
(01:35):
of surveillance for another, only this time on a blockchain
that never forgets. We're going to explore the tools people
use to protect themselves, like coin join and lightning, but
we're also going to ask the hard questions what happens
in a world of k y C, CBDCs and constant monitoring.
Can Bitcoin survive and thrive when privacy itself is under threat?
(01:59):
This isn't just about technology, this is about freedom, and
we're not asking what's possible, we're asking what's worth protecting.
So let's jump in question one. Is bitcoin really anonymous
or just pseudoanonymous? Maybe at the end of this question
more of us will think is this actually anonymous or
(02:19):
just an alias because a lot of people still believe
that bitcoin is anonymous, that it's digital cash you can
send without anyone knowing who you are. But that's not true.
Bitcoin is an anonymous, it's pseudoanonymous. That means you don't
use your name, but everything you do is recorded. Every transaction,
(02:39):
every wallet address, every time you move funds, all of
it lives forever on a public ledger. The blockchain so
instead of saying Jeff sent one hundred dollars to Sarah,
it says address one A nine X sent zero point
zero zero two four BTC to address three f Z
two Y. Sounds anonymous right until someone links one of
(03:01):
those addresses to your identity, and that's not hard to do.
If you bought bitcoin on an exchange that knows your name,
or send BTC to someone who did, your pseudonym is
just a few clicks away from being real. Law enforcement
agencies know this. Chain analysis firms know this, and it's
why bitcoin privacy reputation doesn't hold up under scrutiny. Unless
(03:23):
you're using advanced privacy techniques like coinjoins, privacy wallets, or
even mixing services, your trail is traceable. So no, bitcoin
isn't anonymous by default. It's like wearing a mask in
a glass house. You're heard at a spot, but you're
not invisible. Question two, what role do privacy tools like
coinjoin or lightning play. Let's say you're accepted the premise
(03:47):
bitcoin is public, transparent, and traceable by design. That's great
for accountability, but when it comes to personal freedom, security,
and civil rights, that level of transparency can quickly become
a liability because if every transaction is visible, then so
is your salary, your donation history, your political support, your
(04:08):
location data, and even who you associate with. That could
be uncomfortable for some. It could also be dangerous for
some and authoritarian regimes, surveillance heavy societies, or even online
doing environments. So what do we do about it? That's
where privacy tools like coinjoin and the Lightning Network come in.
Coinjoin obscures the trail without breaking the rules. Coinjoin is
(04:31):
a tool that mixes multiple Bitcoin transactions together so the
inputs and outputs become harder to trace. Imagine fifty people
dropping identical envelopes into a pile, then randomly pulling one out.
Each person still gets an envelope, but no one knows
who is who's Coinjoin doesn't break the rules of bitcoin.
It just adds a layer of plausible deniability. It's often
(04:55):
used by journalists, human rights activists, or people living under
surveillance heavy governments who want to donate, organize, or simply
exist without leaving a clear financial breadcrumb trail. But it's
not perfect. It's slow, it's expensive, and it's increasingly under
regulatory scrutiny. Especially in the US, where even using privacy
tools is often viewed suspiciously. Now let's talk about the
(05:18):
Lightning network, which is pretty much speed plus privacy. The
Lightning Network wasn't built as a privacy tool, but it
offers a side benefit Because Lightning transactions happen off chain,
they're not recorded on the main Bitcoin ledger. You open
a payment channel, send dozens or hundreds of small payments
through it, and only the final result gets posted to
(05:40):
the blockchain. That means there's less traceability. Micro transactions don't
clutter the main chain, and it's faster, cheaper, and in
some cases more private. For users in repressive countries or
people sending payments to band causes, Lightning can be a lifeline, fast,
low profile, and harder to censor. All this matter because
(06:01):
if bitcoin is going to be money for freedom, then
people need private ways to spend it. Not just whales
or coders, but everyday people who may not want their landlord, boss, government,
or political rivals watching every move. Privacy tools are essential
for protecting activists, whistleblowers and protesters, defending against financial surveillance,
(06:23):
and preventing harassment, blackmail, or censorship. On the other side,
privacy can often look like secrecy, and secrecy often looks
like crime. So these tools, while vital, are also at
risk of being regulated out of existence, misunderstood, or painted
as tools for bad actors. That's why we need to
stop asking why are you hiding and start asking what
(06:46):
rights do we all deserve to protect? Bitcoin without privacy
is a window Bitcoin with privacy that's adored to something freer.
Question three, can privacy survive in a warld world of KYC,
Know your Customer and CBDCs. Let's not sugarcoat it. Privacy
(07:07):
is under siege between tech and big data. Everyone wants
your information. If you've ever opened a crypto exchange account,
you're likely gone through KYC or Know your Customer. That's
where you upload your ID, your selfie, your address, and
sometimes even your banking details just to buy a little bitcoin.
And now imagine a world where you don't even have
(07:29):
that option to opt out because your country rolls out
a CBDC, a central bank digital currency. It's like digital cash,
but controlled, issued and monitored by the government. So the
big question is can bitcoin or any tool for financial
freedom survive in a world built around surveillance? Finance first
(07:49):
what's really the problem with KYC and CBDCs. KYC turns
money into a tracking device. Every time you sign up,
you tie your identity to your fund. That data can
be shared with third parties, breached in hacks, weaponized by governments,
or used to deny services based on politics, association, or
(08:10):
even past mistakes. CBDCs go further. They're programmable. That means
government can control where, when and how you spend, freeze
accounts without due process, tye spending to social scores or
political behavior, or even expire your money, track donations, or
limit financial dissent. CBDCs aren't just a new payment rail,
(08:32):
they're a new form of control. This is where bitcoin
could fit in. Bitcoin is one of the few open,
censorship resistant alternatives we have. It doesn't require an idea,
It doesn't care who you are, It doesn't deny access
based on political leanings or credit scores. It just is neutral, borderless,
programmable by you. The catch to this is every regulated
(08:56):
exchange requires KYC, and every FIAT on ramp gets t
Then privacy becomes the exception, not the norm. This means
Bitcoin's privacy and accessibility are only preserved if we protect
peer to peer use, we defend tools like coin join, lightning,
and self custody, and we build alternative education, wallets and
(09:17):
systems that empower people to opt out. Privacy can survive,
but not by accident. It survives because people demand it,
build for it, defend it. Just like freedom of speech,
privacy is only real if people use it and fight
for it when it's under threat. Bitcoin can't stop governments
from launching CBDCs, but it can offer a parallel path.
(09:39):
It can say you can have programmable money, but we
can have programmable freedom, and that might be the most
important fight of the digital age. So where do we land?
Bitcoin isn't perfectly private, and it never claimed to be,
but it gives us the chance to reclaim financial freedom,
the kind that doesn't require permission, paperwork, or political alignment.
(10:01):
But that chance only matters if we act on it.
Because privacy won't survive by default. It survives because people
build tools, teach others, defend the edges, and speak up
when the system leans towards control. KYC may be the
norm and cbdc's may be coming, but that doesn't mean
we stop imagining and building a better path. Because privacy
(10:23):
isn't just a feature. It's a right and bitcoin may
be our last shot at defending it. Thanks for listening
to the Bitcoin Series Part ten. Hopefully I'll see you
in Part eleven, where we take on the Bitcoin culture wars,
with the focus being toxicity, purity tests, and political divides
within bitcoin. Until then, stay curious is stay grounded. I
(10:45):
want to be extremely upfront that I'll try my best
to leave all of my opinions out of this. I
know this is very condensed and simplified, but I want
you to gain your own understanding of beliefs and not
be persuaded by me. I hope this helps you gain
a better grasp of it. Please remember to share, follow,
and subscribe to our mailing list and to your favorite
podcast app for future episodes so you can gain more
(11:06):
with your crypto knowledge. If this sparks something in you
or made you question what's possible, I'd love to hear
about it. And if you found this valuable, share it
tag someone who needs to hear it or just sit
with it. Thanks for listening. Thanks for listening to this
(11:29):
episode of the Crypto one on one show. If you
would like to join our email list, email us at
the Crypto one on one show at gmail dot com
For more helpful tips, subscribe in your favorite podcast app
and leave a review so that you don't miss our
next episode. See you next time.
Welcome to the Crypto one on one Show, where we
dive into the world of cryptocurrencies, bitcoin, blockchain, and all
the technology with it. Whether you're experienced or a beginner
to crypto, our goal is to break down complex concepts
and make it easy for you to understand the basics,
from Bitcoin to all coins. We'll cover it all in
a way that's easy to digest and provide listeners with
(00:30):
the knowledge and understanding they need to make informed decisions
and better critical thought. Sit back, relax, and let's simplify
your understanding of cryptocurrencies on the Crypto one on one Show,
(00:52):
Part ten? Can Bitcoin be truly private surveillance, privacy and
digital freedom. I need to start off by saying this
is not financial advice, so if you're looking for that,
the show isn't for you. The content of this podcast
episode is for informational purposes only. The opinions expressed here
are not meant to be taken as financial investment or
(01:14):
any other advice. Welcome back to the Bitcoin Series, Part ten.
In this episode, we're diving into one of the most
misunderstood and most crucial aspects of bitcoin privacy. We're told
bitcoin is anonymous and that it's censorship resistant. But is
that actually true? Or have we just traded one kind
(01:35):
of surveillance for another, only this time on a blockchain
that never forgets. We're going to explore the tools people
use to protect themselves, like coin join and lightning, but
we're also going to ask the hard questions what happens
in a world of k y C, CBDCs and constant monitoring.
Can Bitcoin survive and thrive when privacy itself is under threat?
(01:59):
This isn't just about technology, this is about freedom, and
we're not asking what's possible, we're asking what's worth protecting.
So let's jump in question one. Is bitcoin really anonymous
or just pseudoanonymous? Maybe at the end of this question
more of us will think is this actually anonymous or
(02:19):
just an alias because a lot of people still believe
that bitcoin is anonymous, that it's digital cash you can
send without anyone knowing who you are. But that's not true.
Bitcoin is an anonymous, it's pseudoanonymous. That means you don't
use your name, but everything you do is recorded. Every transaction,
(02:39):
every wallet address, every time you move funds, all of
it lives forever on a public ledger. The blockchain so
instead of saying Jeff sent one hundred dollars to Sarah,
it says address one A nine X sent zero point
zero zero two four BTC to address three f Z
two Y. Sounds anonymous right until someone links one of
(03:01):
those addresses to your identity, and that's not hard to do.
If you bought bitcoin on an exchange that knows your name,
or send BTC to someone who did, your pseudonym is
just a few clicks away from being real. Law enforcement
agencies know this. Chain analysis firms know this, and it's
why bitcoin privacy reputation doesn't hold up under scrutiny. Unless
(03:23):
you're using advanced privacy techniques like coinjoins, privacy wallets, or
even mixing services, your trail is traceable. So no, bitcoin
isn't anonymous by default. It's like wearing a mask in
a glass house. You're heard at a spot, but you're
not invisible. Question two, what role do privacy tools like
coinjoin or lightning play. Let's say you're accepted the premise
(03:47):
bitcoin is public, transparent, and traceable by design. That's great
for accountability, but when it comes to personal freedom, security,
and civil rights, that level of transparency can quickly become
a liability because if every transaction is visible, then so
is your salary, your donation history, your political support, your
(04:08):
location data, and even who you associate with. That could
be uncomfortable for some. It could also be dangerous for
some and authoritarian regimes, surveillance heavy societies, or even online
doing environments. So what do we do about it? That's
where privacy tools like coinjoin and the Lightning Network come in.
Coinjoin obscures the trail without breaking the rules. Coinjoin is
(04:31):
a tool that mixes multiple Bitcoin transactions together so the
inputs and outputs become harder to trace. Imagine fifty people
dropping identical envelopes into a pile, then randomly pulling one out.
Each person still gets an envelope, but no one knows
who is who's Coinjoin doesn't break the rules of bitcoin.
It just adds a layer of plausible deniability. It's often
(04:55):
used by journalists, human rights activists, or people living under
surveillance heavy governments who want to donate, organize, or simply
exist without leaving a clear financial breadcrumb trail. But it's
not perfect. It's slow, it's expensive, and it's increasingly under
regulatory scrutiny. Especially in the US, where even using privacy
tools is often viewed suspiciously. Now let's talk about the
(05:18):
Lightning network, which is pretty much speed plus privacy. The
Lightning Network wasn't built as a privacy tool, but it
offers a side benefit Because Lightning transactions happen off chain,
they're not recorded on the main Bitcoin ledger. You open
a payment channel, send dozens or hundreds of small payments
through it, and only the final result gets posted to
(05:40):
the blockchain. That means there's less traceability. Micro transactions don't
clutter the main chain, and it's faster, cheaper, and in
some cases more private. For users in repressive countries or
people sending payments to band causes, Lightning can be a lifeline, fast,
low profile, and harder to censor. All this matter because
(06:01):
if bitcoin is going to be money for freedom, then
people need private ways to spend it. Not just whales
or coders, but everyday people who may not want their landlord, boss, government,
or political rivals watching every move. Privacy tools are essential
for protecting activists, whistleblowers and protesters, defending against financial surveillance,
(06:23):
and preventing harassment, blackmail, or censorship. On the other side,
privacy can often look like secrecy, and secrecy often looks
like crime. So these tools, while vital, are also at
risk of being regulated out of existence, misunderstood, or painted
as tools for bad actors. That's why we need to
stop asking why are you hiding and start asking what
(06:46):
rights do we all deserve to protect? Bitcoin without privacy
is a window Bitcoin with privacy that's adored to something freer.
Question three, can privacy survive in a warld world of KYC,
Know your Customer and CBDCs. Let's not sugarcoat it. Privacy
(07:07):
is under siege between tech and big data. Everyone wants
your information. If you've ever opened a crypto exchange account,
you're likely gone through KYC or Know your Customer. That's
where you upload your ID, your selfie, your address, and
sometimes even your banking details just to buy a little bitcoin.
And now imagine a world where you don't even have
(07:29):
that option to opt out because your country rolls out
a CBDC, a central bank digital currency. It's like digital cash,
but controlled, issued and monitored by the government. So the
big question is can bitcoin or any tool for financial
freedom survive in a world built around surveillance? Finance first
(07:49):
what's really the problem with KYC and CBDCs. KYC turns
money into a tracking device. Every time you sign up,
you tie your identity to your fund. That data can
be shared with third parties, breached in hacks, weaponized by governments,
or used to deny services based on politics, association, or
(08:10):
even past mistakes. CBDCs go further. They're programmable. That means
government can control where, when and how you spend, freeze
accounts without due process, tye spending to social scores or
political behavior, or even expire your money, track donations, or
limit financial dissent. CBDCs aren't just a new payment rail,
(08:32):
they're a new form of control. This is where bitcoin
could fit in. Bitcoin is one of the few open,
censorship resistant alternatives we have. It doesn't require an idea,
It doesn't care who you are, It doesn't deny access
based on political leanings or credit scores. It just is neutral, borderless,
programmable by you. The catch to this is every regulated
(08:56):
exchange requires KYC, and every FIAT on ramp gets t
Then privacy becomes the exception, not the norm. This means
Bitcoin's privacy and accessibility are only preserved if we protect
peer to peer use, we defend tools like coin join, lightning,
and self custody, and we build alternative education, wallets and
(09:17):
systems that empower people to opt out. Privacy can survive,
but not by accident. It survives because people demand it,
build for it, defend it. Just like freedom of speech,
privacy is only real if people use it and fight
for it when it's under threat. Bitcoin can't stop governments
from launching CBDCs, but it can offer a parallel path.
(09:39):
It can say you can have programmable money, but we
can have programmable freedom, and that might be the most
important fight of the digital age. So where do we land?
Bitcoin isn't perfectly private, and it never claimed to be,
but it gives us the chance to reclaim financial freedom,
the kind that doesn't require permission, paperwork, or political alignment.
(10:01):
But that chance only matters if we act on it.
Because privacy won't survive by default. It survives because people
build tools, teach others, defend the edges, and speak up
when the system leans towards control. KYC may be the
norm and cbdc's may be coming, but that doesn't mean
we stop imagining and building a better path. Because privacy
(10:23):
isn't just a feature. It's a right and bitcoin may
be our last shot at defending it. Thanks for listening
to the Bitcoin Series Part ten. Hopefully I'll see you
in Part eleven, where we take on the Bitcoin culture wars,
with the focus being toxicity, purity tests, and political divides
within bitcoin. Until then, stay curious is stay grounded. I
(10:45):
want to be extremely upfront that I'll try my best
to leave all of my opinions out of this. I
know this is very condensed and simplified, but I want
you to gain your own understanding of beliefs and not
be persuaded by me. I hope this helps you gain
a better grasp of it. Please remember to share, follow,
and subscribe to our mailing list and to your favorite
podcast app for future episodes so you can gain more
(11:06):
with your crypto knowledge. If this sparks something in you
or made you question what's possible, I'd love to hear
about it. And if you found this valuable, share it
tag someone who needs to hear it or just sit
with it. Thanks for listening. Thanks for listening to this
(11:29):
episode of the Crypto one on one show. If you
would like to join our email list, email us at
the Crypto one on one show at gmail dot com
For more helpful tips, subscribe in your favorite podcast app
and leave a review so that you don't miss our
next episode. See you next time.
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