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Narwhal Tacos 2y ago

Only polling on Damus:

Last year I trialed Whirlpool turning 1mill sats into 9 different 100k sat utxos (cuz fees borked the last one).

Now, I don’t want to combine those sats, as that would render useless the forward-privacy I paid for.

Yet I don’t want ANY 100k sat-lots going forward, because of fear they’ll be orphaned by fees.

So looking for suggestions (& Damus doesn’t allow for polls).

1) Combine them and accept the loss of privacy?

2) Spend them quickly, and accept my Whirlpool experience was just a fad?

3) Leave them and hope for lower fees in the future?

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Discussion

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techfeudalist 2y ago

I’ve been thinking about using Liquid to recombine UTXOs. You could aggregate it there, and later withdraw into larger UTXOs. 🤷‍♂️

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Narwhal Tacos 2y ago

I know a number of maxis have started to embrace Liquid for just this reason.

I may be there as well.

Appreciate that you’re looking at that as an option!

Thx for the input.

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Dan Wedge 2y ago

While I can’t organize cause I am not there on a technical level to build it could you setup “nostr” multiple utxo transactions

(Peer & peer mix for utxo consolidation)

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nobody 2y ago

Open channels with them, then swap them for Liquid with boltz.exchange then swap back to BTC in larger chunks.

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Narwhal Tacos 2y ago

You’ve got my attention…

Have you done this?

I’ve never swapped for Liquid, but I’m guessing what you’re suggesting is to do so thru boltz.exhange? Then could swap back later into BTC in larger, differing amounts?

Thx for your input!

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nobody 2y ago

Not specifically to consolidate utxos but I have swapped at each of those stages for various reasons.

You can swap from LBTC to BTC with https://sideswap.io/

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btconboard #LNHANCE or #CTV 2y ago

everyone has different tradeoffs and goals, but I'm personally all about prioritizing security over privacy. If you lose your stack (whether theft or its in economically unspendable small UTXOs) privacy is pointless imho.

What could be worse than in 2039 having $5m Bitcoin, but your stack is effexticelh worthless because it’s in tiny (for 2039) UTXOs?

You got valuable experience on a useful tool, that was worth the fees paid regardless of the path forward in my mind.

My own north star: plan for Bitcoin to be $5M and stack accordingly.

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mattaroo 2y ago

IMO, fees won’t come down.

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Keith 2y ago

Interesting how everyone gave an opinion but no one voted.

#1 for sure.

Full disclosure: I am far better at understanding the economics of bitcoin than the technology.

Why #1? Base layer transactions are only going to get larger over time. Every block is full and will be full going forward because demand has reached that threshold. Even if ordinals go away, even if ETFs get rejected, bitcoin has reached a milestone in popularity and every block will be full from now until something better comes along.

Question: Why don’t you just do a self coin-join? Combine UTXOs into an address you’ve never used before? Wouldn’t that protect your privacy?

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nobody 2y ago

Because neither of the three he presented are ideal options and there's a better way to accomplish what he actually wants: larger utxos without compromising his privacy.

#1 would deterministically link his identity back to the utxo, wasting the mixing he did. #2 and #3 aren't actually options that do anything for him.

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Kruw 2y ago

You can consolidate those inputs privately in a WabiSabi coinjoin. If you want amounts over 100k sats, then you should use the coinjoin plugin for BTCPay Server which lets you specify the minimum output amount.

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Narwhal Tacos 2y ago

Thx for this, will look into it!