Rabbit Hole Recap

Rabbit Hole Recap #282: Jamie Dimon Wants to Ban Bitcoin

Dec 9, 2023

Jamie Dimon, CEO of JPMorgan Chase, comments on Bitcoin; privacy risks in Ledger Live; transferring funds and privacy implications; announcement of Block's hardware device and changes to on-chain loans; bitcoin transactions using opera turn; frustration with Bitcoin's situation; crypto ecosystem growth and software updates; discussion on video editing, censorship, and individual responsibility.

01:24:12

Creator website

Episode guests

Jamie Dimon

AI Summary

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Ocean Pool mining pool censors transactions and raises concerns about its anti-censorship claim.

Ledger Live software raises privacy concerns by sending user data to external services.

Jamie Dimon's remarks on Bitcoin highlight tension between traditional financial institutions and cryptocurrencies.

Deep dives

Ocean Pool's Filtering Policy Sparks Controversy

Ocean Pool, a new mining pool, has implemented a filtering policy that excludes transactions with opera turn data larger than 40 bytes. This means that transactions such as those used in Samurais Whirlpool coinjoin cannot be mined by Ocean Pool. The pool uses Bitcoin Knots as its Bitcoin implementation, which does not recognize these transactions. This decision has raised concerns and criticism, as it is seen as a form of censorship and contradicts Ocean Pool's claim as an anti-censorship pool. It remains to be seen how this filtering policy will affect Ocean Pool's hash rate and reputation.

Introduction

3min

Bitcoin Stats and Updates

18min

Privacy Risks in Ledger Live

6min

Jamie Dimon's comments on Bitcoin

7min

Transferring Funds and Privacy Implications

4min

Bitcoin Hardware Device and On-Chain Loans

15min

Bitcoin Knots and Ocean Pools' Usage of Opera Turn in Bitcoin Transactions

10min

Bitcoin frustration, shout outs, and promoting a musical event

3min

Crypto Ecosystem Growth and Software Updates

14min

10.

Discussion on Video Editing, Shoe Reference, Pleb Dev Course, and the Blue Check Manifesto

5min

Ledger Live Tracks and Sends ALL User Information to Outsourced Data Harvesting Service https://www.nobsbitcoin.com/ledger-live-tracks-and-sends-out-all-user-information-by-default/

Apple Confirms Governments Use Push Notifications to Surveil Users https://www.nobsbitcoin.com/apple-confirms-governments-using-push-notifications-to-surveil-users/

U.S. Treasury Seeks Massive Expansion of Warrantless Surveillance & Powers to Sanction Open-Source Software https://www.nobsbitcoin.com/u-s-treasury-recommends-massive-expansion-of-warrantless-surveillance-power-to-sanction-open-source-software/

Users of BTCPay Server’s LNbank Plugin Urged to Upgrade to v1.8.9 ASAP https://www.nobsbitcoin.com/lnbank-critical-vulnerability/

Unchained to Pause Bitcoin Backed Loans to Individuals https://www.nobsbitcoin.com/unchained-to-stop-offering-bitcoin-backed-loans-to-individuals/

Block Opens Bitkey Preorders in 95+ Countries, Shipping Expected in Q1 2024 https://www.nobsbitcoin.com/block-opens-bitkey-preorders/

Bitcoin Core v26.0: P2P/Network Improvements, Pruning Updates, New RPCs & More https://www.nobsbitcoin.com/bitcoin-core-v26-0/

Primal Debuts on Mobile App Stores: iOS v1.0.4, Android Beta v0.21.4 Released https://www.nobsbitcoin.com/primal-mobile-apps-store-debut/

LND v0.17.3-beta: Hot Fix Release https://www.nobsbitcoin.com/lnd-v0-17-3-beta/

Ride The Lightning v0.15.0-beta: CLNRest for Core Lightning https://www.nobsbitcoin.com/ride-the-lightning-v0-15-0/

Payjoin CLI v0.0.1-alpha: A Command-line Payjoin Client for Bitcoin Core https://www.nobsbitcoin.com/payjoin-cli-v0-0-1-alpha/

Bitcoin Keeper v1.1.8: Custom Multisig, Coin Selection & More https://www.nobsbitcoin.com/bitcoin-keeper-v1-1-8/

PlebDevs Released a Backend Course for Lightning App Development https://www.nobsbitcoin.com/plebdevs-backend-course/

Blue Check Manifesto Published https://primal.net/e/note1u94v4nrkul8ceefymqc2k9yhn4ymwmt53yp8p99duk29wz9kk0cq8gc8ue

3:14 - Opening riff

5:39 - Dashboard

7:47 - Pre bull setup

12:47 - Dimon and Warren hate crypto

21:14 - Ledger shares everything

26:37 - Back to Dimon

31:43 - Replace your Ledger with a Coldcard

34:04 - Gov spies through your push notifications

38:47 - Update your BTCPay Server LN Bank

40:06 - Unchained pauses loans for individuals

43:37 - Bitkey

52:14 - Dog, very important

53:12 - Ocean pool

1:03:40 - Boosts

1:06:34 - Software updates

1:15:39 - Pleb Devs backend course, sorry to the audio listeners

1:21:10 - Bluecheck manifesto

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