Am I crazy or is a fedimint a really effective way to mix coins? All deposits into the mint after you are effectively mixed with yours at no extra cost, you'll probably get a completely unrelated utxo on cashout, and you can nearly-completely blind amounts by withdrawing unrelated amounts.
Obviously the compromise is in trust, like with custodial mixers (but considerably better)
What are you trusting the mint not to do exactly? Just to not inflate the tokens?
Fedimints have total custody of your coins, they can inflate the "in mint" supply or just outright rug pull you. It's still better from one party having total custody (like coinbase or whatever), but it's still a trusted relationship.
>outright rug pull you
As in, steal your coins?
I don't see how they would be able to do that. That's not how Chaumian ecash works. You have the coins physically in your possession. It's not an account based system like blockchain.
No, to participate in a fedimint you have to deposit coins into it, which the multisig quorum then controls. Inside the fedimint is where chaumian ecash comes into play.
That’s called money laundering, it’s a crime.
It's a crime in Germany to have a controversial view on their history.
I don’t understand how your comment relates to mine.
A crime is not necessarily an unethical act.
There are good reasons why money laundering is illegal tho.
TBF Money laundering is defined as 'the process of making illegally-gained proceeds (i.e., "dirty money") appear legal (i.e., "clean")', so if you are just trying to obscure where your legitimate money is coming from for privacy/safety reasons I wouldn't consider that unethical.
Well, good luck explaining that to auditors or investigators. Ppl that use coin tumblers like tornado cash are literally conspiring to launder the proceeds of crime, that’s what they’re generally used for.
