That’s wrong imo. More mixes is obviously better. And because it’s free it’s a no brainer for me to do at least 5. coinjoin mixes deteriorate over time (because of people handling their UTXOs in a wrong way) and if you have more mixes the deterioration is slower or sometimes even prevented. Also a very near feature in whirlpool is that even if you just wait for the mix but are not selected, you anonymity increases. If you are hodling for the future your time preference should be low anyways, so why not wait? The only reason I see is that it’s in a hot wallet but apparently there is no incident of funds being lost due to a hack in Sparrow.
Discussion
asked AI and it said:
“one mix is technically enough to break all deterministic links with your coins' history. However, getting more mixes increases the anonymity set and supplies liquidity to the mixing pools, offering a faster mixing experience for other users. So, while one mix provides a certain level of privacy, multiple remixes enhance your overall privacy”
so that’s the way i’ve heard it before “breaks all deterministic links with your coins’ history” - the way i interpret that is something like “it gives you plausible deniability”
but then, as you mention, the subsequent remixes just would mean that everything gets even more confusing on the blockchain, and the chances of your privacy “by random chance” being unwound is much lower i’d assume
guess i’ll have to wait a few months for ~5ish remixes then 🥴 you’re correct in assuming my reasoning for remix time concerns is hot wallet related