“Saying you don’t care about privacy because you have nothing to hide is like saying you don’t care about free speech because you have nothing to say.”

With that powerful reminder, Nicola Vaccari opened one of the most thought-provoking episodes of Accademia S₿AM, hosted at PoW.space in Lugano. Known for his work with Bitcoin Valley, Comproeuro, and Quickexchange, Nicola is a long-time advocate for the practical use of Bitcoin and a sharp voice on the topic of privacy in the digital age.

A Topic Too Often Ignored

Despite its importance, privacy is still widely misunderstood—even in a country like Switzerland, where many feel naturally protected by tradition and local laws. But as Nicola highlighted, feeling safe doesn’t mean being safe. In today’s hyper-connected world, privacy is under siege, and Bitcoiners—perhaps more than anyone—must take it seriously.

Bitcoin ≠ Privacy by Default

One of the central takeaways of the evening was a common misconception: Bitcoin is not anonymous. It is pseudonymous. This means while your real name isn’t attached to a transaction, your wallet addresses, usage patterns, and payment behaviors can be analyzed, revealing more about you than you might expect.

From reusing addresses to relying on public block explorers, many seemingly harmless habits can expose users over time.

Tools and Tradeoffs

Nicola walked the audience through a range of privacy practices—some easy, others more complex—and explained why each one matters:

• Use a new wallet address for every transaction
• Run your own Bitcoin node to avoid leaking information when checking balances or transactions
• Leverage VPNs and privacy-focused email services when registering for tools and platforms
• Explore the Lightning Network, where most transactions are not recorded on the public blockchain

But all this comes with tradeoffs: privacy often means sacrificing convenience. And that’s okay. As Nicola put it:

“You have to sweat for privacy. It takes effort—but it’s worth it.”

Real-World Scenarios

From journalists at risk of retaliation to business owners protecting competitive data, the session was full of relatable use cases. Even regular individuals, Nicola reminded us, have the right to “mind their own business.” Whether it’s choosing a pseudonym when registering for an event or avoiding unnecessary KYC when legally possible, every step matters.

The Regulatory Dilemma

One of the most complex parts of the conversation dealt with privacy versus regulation. While some countries impose aggressive surveillance through automatic data sharing and KYC policies, Switzerland offers slightly more breathing room. Still, Nicola emphasized that laws are constantly evolving—and waiting until it’s too late is not a wise strategy.

Finding Your Balance

There is no “one-size-fits-all” approach to privacy. Everyone has a different level of risk, knowledge, and tolerance. The key is finding your personal compromise and making informed choices.

As Nicola humorously noted:

“Privacy isn’t binary. It’s not on or off. It’s a spectrum—and it’s your responsibility.”

Final Thoughts

This episode of Accademia S₿AM served as a wake-up call, a practical guide, and a philosophical reflection—all in one. It reminded us that Bitcoin without privacy is incomplete and that preserving our autonomy in a digital world requires conscious effort.

If you care about freedom, you must care about privacy.

About Accademia S₿AM

Hosted at PoW.space, Accademia S₿AM is a free weekly educational program dedicated to exploring Bitcoin from all angles—technical, philosophical, legal, and economic. This was the final episode in the Privacy cycle, but a new series will launch soon, including a deep dive into Bitcoin scalability protocols.

Stay tuned—and stay sovereign.