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MEV, Censorship & Why We Need To Save Our Wallets with Matt Corallo | SLP667

MEV, Censorship & Why We Need To Save Our Wallets with Matt Corallo | SLP667

Stephan Livera Podcast vor 1 Jahr

0:00

1:42:52

Stephan & Matt discuss the ‘Save Our Wallets’ campaign, which
aims to protect non-custodial wallets from regulatory challenges
posed by the U.S. government. He highlights the legal risks
developers face due to broad interpretations of regulations and
the potential consequences of future administrations. The
importance of advocacy for legislative change, user engagement,
and improving user experience in Bitcoin transactions are
emphasized.

Additionally, the conversation touches on the implications of AML
and FATF regulations, the evolution of wallet technologies, and
the need for research into Miner Extractable Value (MEV) in
Bitcoin.

They also discuss various aspects of Bitcoin and Ethereum,
focusing on the implications of MEV (Miner Extractable Value),
the risks of mining centralization, and the importance of
investing in solutions rather than relying on consensus changes.
They explore the challenges posed by private order flow, the
philosophical differences in Bitcoin development, and the future
of Bitcoin Core and node adoption.

Takeaways

The Save Our Wallets campaign aims to protect non-custodial
wallets from regulatory overreach.

Legal challenges are arising for developers of non-custodial
wallets due to broad interpretations of money service business
regulations.

The DOJ's actions against Samurai Wallet highlight the risks for
privacy-focused services in the cryptocurrency space.

Future administrations may pose additional risks to non-custodial
wallets if laws are not changed.

Advocacy efforts are crucial to push for legislative changes that
protect non-custodial wallets.

User engagement is essential for demonstrating public support for
non-custodial wallet protections.

AML and FATF regulations create risks for users and developers in
the cryptocurrency space.

User experience in Bitcoin transactions remains a significant
barrier to adoption.

The development of graduated wallets could improve user
experience and security for Bitcoin users.

Research into MEV (Miner Extractable Value) is necessary to
understand and mitigate risks in Bitcoin. Investing in solutions
is preferable to consensus changes.

MEV is seen as an inevitable challenge in blockchain.

Mining centralization poses significant risks to Bitcoin's
future.

Private order flow can lead to worse price execution for users.

Relay policy can nudge users towards better practices.

Philosophical differences exist in Bitcoin development
approaches.

Decentralizing block template creation is crucial for Bitcoin's
health.

Layer 2 solutions like Lightning are essential for scaling.

Regulatory protection is necessary for non-custodial wallet
developers.

The future of Bitcoin Core depends on community engagement and
adoption.

Timestamps:

(00:00) - Intro

(00:43) - What is the ‘Save Our Wallets’ campaign?

(07:00) - What is the role of FinCEN & DOJ in regulation

(10:25) - Save Our walets advocating for legislative
changes

(20:22) - The importance of CLARITY Act

(23:26) - What are the broader implications of AML & FATF
regulations?

(27:42) - The challenge of bad user experience for onboarding
masses to Bitcoin

(32:21) - Innovations in Bitcoin wallets; BIP 353 - DNS Payment
Instructions

(40:36) - Understanding MEVil risks in Bitcoin

(48:05) - Mitigating MEVil risks in Bitcoin

(59:25) - Mining Centralization and Profitability

(1:12:22) - Comparing RBF debates to the current relay policy
debates

(1:21:48) - Philosophical differences in Bitcoin governance

(1:31:11) - Will Bitcoin core remain the dominant implementation?

(1:34:00) - Trusted & non-trusted Layer 2 solutions

(1:41:40) - Closing thoughts

Links:

https://x.com/TheBlueMatt

https://bluematt.bitcoin.ninja/

https://saveourwallets.org/

https://bitcoinmagazine.com/technical/mevpool-the-best-bandaid-we-have-for-mev

Sponsors:

Bold Bitcoin

CoinKite.com (code LIVERA)

Lana by Galoy

Stephan Livera links:

Follow me on X: @stephanlivera

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