PSA
You do not have to Coinjoin to combine UTXOs. Literally just send them together and they get combined.
Surprised by how many people don't know this. #Bitcoin
Discussion
Yes but then you reveal common ownership of those input UTXOs. Coinjoin breaks what's known as the "common input ownership heuristic" used by chainalysis.
Unless you are referring to this https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2023-May/021701.html
Ben when you go pay someone at a restaurant do they know your balance at the bank. Combining utxo is bad practice unless yuu want whoever you paying to know your balance. That’s why we have whirlpool and spending tools.
Just asking for a friend..
Ok, it is expected that on-chain fees will get more and more expensive in the future.
What to do with _tons_ of 100.000 whirpooled sats in cold storage?
Remix 🌀🌀🌀🌀 them into bigger utxos sets (5.000.000)?
No, there is no need to do that, leave them and let the postmix algo use them during stonewall stonewallx2 spends.
the selection when spending is random. And also the wallet will first try to constuct the transaction in order of:
1. Make tx using only postmix
2. Make tx using only postmix change
3. Make tx using both
You can't postmix from cold storage but anyway, the question is whether UTXOs should be consolidated now into larger UTXO sizes in anticipation of high on-chain fees in the future.
The question really is "do on-chain fees ever become so high that I can not spend or consolidate my 100k UTXOs?" is not a simple one.
You can use this calculator to develop a gut feel: https://bitcoiner.guide/wpfees/
If on-chain fees are 200sats/vB, you can combine 15x100k UTXOs to get a single 1M UTXO, but if the fees go up to 300 sats/vB, you can't do this anymore and need to use more input UTXOs.
Looking forward to detailed conversation about this.
Yes, it is obvious you can join UTXOs without coinjoin, but I’m not sure what CJ had to do with this? Joining them yourself doesnt break ownership heuristics. If actually increases then
