Bitcoin Privacy to Prevail: zkSNACKs CEO on CoinJoin Closure

The Bitcoin ecosystem is facing the loss of an important privacy-enhancing service as zkSNACKs has announced the discontinuation of its CoinJoin coordination service. The decision was made to ensure compliance with the latest legal and regulatory updates in the United States, due to the lack of clarity surrounding cryptocurrency regulations and the use of privacy-enhancing tools. Former NSA whistleblower Edward Snowden expressed disappointment over the service’s discontinuation. The CEO of zkSNACKs, Max Hillebrand, stated that while Bitcoin privacy would survive, the absence of support from zkSNACKs for Bitcoin developers and privacy educators would be a setback.

Despite the closure of the CoinJoin service, Wasabi Wallet, developed by zkSNACKs, will still function as a regular Bitcoin wallet. Users can generate private keys to send and receive Bitcoin. While Wasabi Wallet provides significant privacy through its client-side filtering architecture, Tor integration, and custom coin selection, the level of privacy offered by CoinJoins remains unmatched.

Hillebrand expressed uncertainty about whether other jurisdictions would also crack down on privacy protocols and CoinJoin services. The closure of zkSNACKs’ CoinJoin coordination service has also affected other products and services in the Bitcoin ecosystem. From June 2024, hardware wallet services Trezor Suite and BTCPayServer will no longer be able to offer the service to their users.

CoinJoin works by combining multiple inputs and outputs from various users into a single transaction, effectively obfuscating Bitcoin transactions. This makes it more difficult for outside observers to determine specific transaction details. Wasabi Wallet, launched in 2018, prioritizes privacy through its use of Tor for anonymity, a light client approach for balance checking, and block filters for secure transaction verification without downloading the entire Bitcoin blockchain.

Philis Zurita

Philis Zurita

23 thoughts on “Bitcoin Privacy to Prevail: zkSNACKs CEO on CoinJoin Closure

  1. Wasabi Wallet alone is not enough to fill the void left by the CoinJoin service. We need stronger privacy options! 🕵️‍♀️

  2. CoinJoin is an effective method to obfuscate Bitcoin transactions. Its discontinuation makes it harder for outside observers to track specific details.

  3. The lack of clarity in cryptocurrency regulations is seriously affecting the Bitcoin ecosystem. We need more transparency from the authorities!

  4. This crackdown on privacy protocols sets a dangerous precedent. Are other jurisdictions going to follow suit?

  5. Edward Snowden must be shaking his head right now. Losing this privacy-enhancing service is a step back in protecting our digital rights.

  6. This is disappointing news 😞 The loss of zkSNACKs’ CoinJoin coordination service is a setback for Bitcoin privacy.

  7. Trezor Suite and BTCPayServer will also be affected by this closure. It’s a domino effect throughout the Bitcoin ecosystem. 😢

  8. The impact of the closure is wider than expected. Hardware wallet services like Trezor Suite and BTCPayServer will also be affected.

  9. CoinJoins were a game-changer in privacy. It’s a shame to see such innovation facing restrictions due to unclear regulations.

  10. Without zkSNACKs support, Bitcoin developers and privacy educators will face difficulties. This setback could hinder further progress.

  11. The lack of clarity surrounding cryptocurrency regulations is discouraging. More regulatory transparency is needed to foster innovation and protect privacy.

  12. Edward Snowden speaking out shows the significance of this development. 🗣️ It’s a reminder of the importance of privacy in our digital world. 🌐

  13. Despite the setback, the Bitcoin ecosystem will adapt and find new solutions to enhance privacy. The fight for digital privacy is far from over!

  14. CoinJoin was vital in obfuscating Bitcoin transactions. Losing this level of privacy is a huge setback.

  15. It’s great to hear that Wasabi Wallet will still function as a regular Bitcoin wallet. 💼 Kudos to zkSNACKs for ensuring its continued functionality!

  16. This decision limits our financial freedom and puts our privacy at risk. We should be able to transact without constant surveillance.

  17. This is a major blow to Bitcoin’s privacy. It’s disappointing to see zkSNACKs discontinuing its CoinJoin coordination service.

  18. Max Hillebrand and zkSNACKs should have fought harder to ensure the survival of this important service. This decision is disheartening. 😔

  19. The closure of zkSNACKs’ CoinJoin coordination service is a step in the wrong direction for the Bitcoin community. Our privacy matters!

  20. Wasabi Wallet has been a beacon of privacy since its launch in 2018. Let’s appreciate its continued effort to prioritize anonymity and secure transactions.

  21. CoinJoins have played a crucial role in enhancing privacy in Bitcoin transactions. Their absence will definitely be felt.

  22. The discontinuation of the CoinJoin coordination service raises doubts about the future of privacy in the Bitcoin ecosystem.

  23. It’s disheartening to see privacy tools being targeted instead of being embraced and encouraged. We need to protect our digital anonymity.

Leave a Reply