TFTC: A Bitcoin Podcast #568: Building A Way Around Govt Digital ID with John Carvalho
Dec 27, 2024
Marty chats with John Carvalho, a software developer renowned for his innovative work on Bitcoin units and Pubky, a decentralized identity system. They dive into Carvalho's Bitcoin Improvement Proposal (BIP) and the importance of Millisats. The discussion highlights the risks of government-issued digital IDs and advocates for self-managed identities through Pubky. They also touch on the complexities of Bitcoin's integration into regulated markets and the challenges of maintaining privacy and autonomy in a digital economy.
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Bitcoin Units
- Bitcoin uses an integer-based system, not decimals.
- The 21 million limit can only exist with integers, avoiding infinite divisibility.
BIP Reaction
- Carvalho's BIP received mixed reactions, with some intrigued and others becoming increasingly toxic.
- Many didn't understand the BIP or its purpose, assuming he was trying to harm Bitcoin.
Unit Clarity
- Displaying full Bitcoin units instead of 'sats' eliminates user confusion in the Bitkit wallet.
- People grasp the large gap between units, preventing accidental million-Bitcoin sends.