What are PayNyms / BIP-47 reusable payment codes and how do they work? A payment code for hierarchical deterministic wallets, which can be publicly advertised and associated with a real-life identity without creating the loss of security or privacy inherent to P2PKH address reuse. They are supported natively by Samourai Wallet.
More about BIP-47: https://github.com/bitcoin/bips/blob/master/bip-0047.mediawiki
More about stealth addresses: https://bitcoinmagazine.com/articles/stealth-transactions-and-reusable-payment-codes-how-bitcoin-addresses-can-be-hidden-in-plain-sight-1467743772/
More about PayNyms:
https://support.samourai.io/article/68-what-are-paynyms
https://paynym.is/
This question is from the January monthly subscriber session, which took place on January 26th 2019. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop
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is this assuming alice and bob are trusting of one another or can this be between strangers
This one was too technical didn't understand it completely but still it was so enjoyable to watch.
Until we get our lexicon to a public novice user this will need explaining. By using terms already understood the public can “get it.” Ex wallet in and wallet out with account numbers. Inbox account for notifications and receipts etc.
Bob publishes a Paynym on-chain and thereafter anybody can pay Bob anonymously? i.e. there‘s no way to find out who has set up such a „channel“ with Bob? Only that Bob has set himself up to receive sucih payments (from anyone)?
Awesome explanation! I have a doubt, though: if I receive a payment through my PayNym in, say, Samourai… would it end up in one of the addresses of the deterministic wallet I set with my 24 words? Or is it outside that keychain, and Samourai has to do something else to manage those other PayNym addresses?
Gr7 explanation as always but what are those floor mat, kitchen mat, table mat?
Just registered a PayNym via Samourai wallet I didn't even know it was a thing
Smashed the like
yes
Cool explanation! But as far as I understand it just helps you putting out a "single public address". If you give each of your donators one unique address it would be the same in the end?
You still have the problem once you combine those payments and send everything to an exchange for example. Every donator (or forensic guy) see what you've earned. So you still need to do some mixing or spend each UTXO one by one. Right?
Thank you
Thnx again Andreas!
Always welcome @ our Crypto-resort in Spain!
can you only pay to a paynym when using paynym by yourself or also if i dont have a paynym?
The first part wasn't the complicated bit? ?
And here I am struggling with a for loop for fk sake
Would PayNyms work with mimblewimble? It seems like storing arbitrary data is crucial for PayNims
Thanks for the explanation Andreas!
Thanks for using good microphone!
Me encanta que tu libro en el fondo sea la traducción al español… Me parece muy inteligente de tu parte el interés que le has puesto últimamente al español. Felicidades por eso
THIS IS A BULLTRAP! Just now it pumped but don't fall for it. It's a trap. I'm commenting to every recent crypto video to lessen the damage.
Not to ask an under-intelligent question, but are promissory notes the same as Cryptocurrency and if not how is a note monitored as apposed to a coin?
Hello, Andreas I need your help to popularize cryptocurrency in Bangladesh. Anybody can help me in this regard.