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Private Payments stealth address protocol for Bitcoinprivatepayments.org/
781 sats \ 9 comments \ @k00b 4 Nov 2022 bitcoin
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170 sats \ 1 reply \ @moel 4 Nov 2022
How does this compare or differ from “PayNyms” that are so heavily shilled by the walled garden* wallet Samurai?
  • walled garden in the sense that they make their own standard that only another Samurai user can make use of.
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59 sats \ 0 replies \ @k00b OP 4 Nov 2022
They cover the differences in the BIP:
Sharing a BIP47 payment code addresses most of the above shortcomings. However, it introduces the following problems:
  • The BIP uses a notification mechanism that relies on publicly known per-recipient notification addresses. If Alice wants to send funds to Bob, she has to use the same notification address that everyone else uses to notify Bob. If Alice is not careful with coin selection, i.e. ensuring that her notification UTXO is not linked to her, she will publicly expose herself as someone who is trying to send funds to Bob and their relationship becomes permanently visible on the blockchain.
  • The BIP does not say anything about address types. Receiving wallets therefore have to watch all address types that can be created from a single public key. Even then, a sender could send to a script that a recipient cannot spend from.
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152 sats \ 1 reply \ @newnym 4 Nov 2022
Interesting. Is there any similar tech for LN?
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0 sats \ 0 replies \ @k00b OP 4 Nov 2022
It depends on what you mean.
A receiver on lightning is known to the senders, ie the senders all see the same pubkey, but unlike with base layer Bitcoin the senders don't by default know who/how much has been sent to the receiver (although, someone correct me if I'm wrong, the receiver's channel balance is public when the channel is closed).
Anyway, the fact that all senders on lightning know the same public key is not ideal for privacy. Ideally, that would be hidden too and folks are working on solutions but they require lightning protocol changes.
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152 sats \ 1 reply \ @moel 4 Nov 2022
Are there any BIP351 compatible wallets out there?
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0 sats \ 0 replies \ @k00b OP 4 Nov 2022
There's a reference implementation: https://github.com/private-payments/rust-private-payments
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152 sats \ 1 reply \ @nerd2ninja 4 Nov 2022
The fact that its like backwards from normal (sender generates address vs receiver generating address) makes this very interesting in my mind. This is compatible with core as is or does it need merged into core?
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15 sats \ 0 replies \ @k00b OP 4 Nov 2022
From my reading it's compatible with core. Just uses OP_RETURN for notification, and the spending key is derived from that and Bob's private key.
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0 sats \ 0 replies \ @gd 4 Nov 2022
Oooh I like this. I'll definitely take a deeper dive here.
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