Defending Bitcoin Privacy | THE UNBOUNDED SERIES: Diverter

Feb 9, 2026

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In this special series, Max shares why we’re hosting and preserving the Unbounded archive at Ungovernable Misfits. In the second re-release of the series, Diverter — a privacy activist and champion of financial sovereignty joins TBD.

TBD and Diverter discuss Bitcoin’s evolution from a fragile experiment into a durable network, and the new danger it faces—not extinction, but domestication. Diverter explains why the real fight now is over whether individuals can still use Bitcoin as a tool for freedom, the chilling effect of recent prosecutions, and how development of privacy tools is being pushed underground.

They trace Diverter’s journey from a 2016 trader to a Bitcoin privacy advocate, his early connection to Samourai Wallet, and the community ethos of clear red lines and radical personal responsibility. He reflects on the cost of building and defending privacy, why most people “fold” under state pressure, and the honour—and inevitability—of sacrifice in this arena.

TBD and Diverter discuss the Samourai case, the legal whiplash around non-custodial tools, the ripple effects across the industry, and why open source resilience matters. Despite setbacks, Diverter remains convinced that “winning” means keeping the door open for anyone who chooses sovereignty—small daily acts of defiance, built by a decentralised, determined community.

Stay resilient, and enjoy the series as we continue with Seth, Pavel, and Colonial in the weeks ahead.

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(00:00:00) Thank You TBD

(00:01:41) INTRO

(00:03:07) Bitcoins New Danger

(00:08:24) Motivations

(00:12:20) The Origin

(00:22:20) Captivated to Contributor

(00:30:55) Accepting Risk

(00:38:45) Choke Points & Culture War

(00:43:51) Pioneers and Proving Grounds

(00:46:21) Why Privacy Tools Matter

(00:52:00) Death Athletic

(00:55:14) The Open Source Hydra

(00:58:39) Community Response?

(01:05:53) Cassandra Syndrome

(01:09:19) What Winning Looks Like