# Shielded Bitcoin: Private Transfers on the Bitcoin L1 **URL:** \ **Category:** Protocol Design\ **Tags:** privacy\ **Created:** [September 24, 2026, 5:45pm UTC](https://delvingbitcoin.org/t/shielded-bitcoin-private-transfers-on-the-bitcoin-l1/2912 "2026-09-24T17:45:34Z")\ **Posts on this page:** 1\ **Showing post:** 9
**Author:** ![ZmnSCPxj](https://delvingbitcoin.org/letter_avatar_proxy/v4/letter/z/ee7513/32.png) [@ZmnSCPxj](https://delvingbitcoin.org/u/ZmnSCPxj)\ **Post date:** [October 1, 2026, 4:25pm UTC](https://delvingbitcoin.org/t/shielded-bitcoin-private-transfers-on-the-bitcoin-l1/2912/9 "2026-10-01T16:25:49Z")
Thank you, that makes sense. I suppose my only remaining question from the previous post is: it seems you would need to also do something very much like the “SPV Proof” described in the previous Sidechains paper, except expressed somehow (??) as a condition in the “WE” scheme used in the PIPEv2 scheme, is that correct? I won’t pretend I understand the maths and I assume that somehow the encrypted key in the PIPEv2 is… somehow invisibly created by some kind of multiparty setup, maybe? 😛 > There are other options that one can use, like atomic swaps that can be done with any amount. That is fine for a lot of day-to-day operations, but would be more akin to offchain-onchain swaps in Lightning than true unilateral exit in Lightning; without true exit, nobody would trust the swaps. --- _[View the full topic](https://delvingbitcoin.org/t/shielded-bitcoin-private-transfers-on-the-bitcoin-l1/2912)._