But why pay 5% fee, wait for transaction times, etc when you could just cashu funds to a different wallet you control and no one is any wiser?
Discussion
Because collaborative coinjoins don't have counterparty risk which you are taking on whenever you use cashu? Decisions and risk tradeoffs based on size.
Coinjoins are still very inconvenient and most people don’t know how to do them successfully without fucking up their privacy. All it takes is 1 mistake. Even pros mess it up.
Also.. 5% fee seems awfully high. For whirlpool this would only be that high if you were mixing only 1 output worth. It's more effectivr to enter a mix with more, producing more outputs to reduce the effective fee and then stay remixing for free.
Can you explain a bit more? It sounds promising but I don’t know what you mean quite yet.
Whirlpool has a few different pool sizes.
.5 BTC, .05 BTC, .01 BTC and .001 BTC
Let's say you have .2345 BTC
With this amount you can't use the .5 BTC pool, but could enter any of the others.
If entering the .05 BTC pool, the fee would be .0025, and you end up with 4 outputs being mixed and change. Effective fee of 1.25% per output (.0025 / .20)
If entering the .01 BTC pool, the fee would be .0005 BTC, and you'd get 23 outputs. The effective fee per output is then about .2173% per output (.0005 / .23)
There are maximums on the amount you can enter a pool with for Tx0. I think the .001 BTC pool is limited to at most 25 UTXOs (and the others up to 75?) so if that's true then with .2345 BTC, you'd only be able to enter that .001 BTC pool with .025 BTC with a pool entry fee of .00005. This makes for an average of .2% (.00005 / .025) per output
Ahh yes, makes perfect sense now. Thank you and zapped!