Do you recommend this mixing service??
Has anybody here used it??
Thanks
#asknostr #bitcoin #nostr
Discussion
I think the running recommendation is to STAY AWAY FROM MIXERS and use coin join tools instead.
Coin joining takes a bit of research and time to familiarise yourself with it. It is also a bit more expensive afaik, but there's 0 risk of losing your money this way.
So... 50% cheaper mixer but they take 100% of your money, or more expensive coin join but you get privacy and you never lose your money.
Ohh I thought mixer was referring to the same thing as coinjoin. Is there really a 0 risk of losing your money?
Obviously do your own research, but beyond bugs and you using compromised software or not checking fees carefully etc. a coinjoin is pretty risk free.
I wanted to differentiate coin join and mixing because mixing is done behind closed doors and you give up your bitcoin to someone else for some time during the process, while coin joins make you part of the process and you never release bitcoin without simultaneously claiming the same amount of bitcoin elsewhere.
How does this work? Everyone anonymously submits inputs to go into a coin join following some rules, then create new identities, and submits their output addresses so no one knows which inputs and outputs belong to the same person, then a transaction is made and everyone needs to sign it.
Each participant only signs the transaction if it allocates the correct amount of bitcoin to them as they were expecting.
The transaction is invalid until everyone signs it so until everyone is happy, no money moves. Of course it is the software you are using that does all of that work on your behalf, so if the software is compromised, so too might be your bitcoin.
Great explanation!
Would be less risky to do coinjoins. Which you can do through for example wasabi wallet, you can setup a coordinator like https://wasabi.kravens.nl/