I can't seem to balance the cost VS privacy for which coinjoin to use (wabisabi - Wasabi, whirlpool - sparrow, join market) VS just swapping on a wallet like cake or exodus for monero and then back to bitcoin. Wouldn't doing it with monero also save me from having to do UTXO management and add privacy?
#asknostr
I wanna see good answers!
https://twitter.com/pokkst/status/1747311565685068115?s=20 with this new release things are even more complex
Edge wallet supports both #Bitcoin and #Monero and interfaces with a few no-KYC exchanges so you can swap between the two in the wallet. Bitcoin is the better savings vehicle but if you need to spend privately use Monero.
That's my thought, btc for SOV, monero for spending, I could be convinced of LTC for spending possibly. But if I DCA with strike am I still gaining privacy by going to XMR and then back to BTC? Or am I just wasting funds
Somebody will see you sent Bitcoin to an exchange that doesn't do KYC. Or received Bitcoin from an exchange that doesn't do KYC. That's it.
Right, so let's assume the nonkyc exchange is compromised. In theory they could trace that this user traded btc for xmr, and then that same user traded xmr for btc, right? Or am I misunderstanding how these exchanges hold records? Basically I'm trying to figure out if once I trade to xmr if I need to do a single transaction before going back to btc to have truly private cold storage. I am considering using this samourai beta for the swap if I can figure out the fee structure.
If you're concerned about somebody being able to deduce that you interacted with Monero at all, then yes this could be a potential problem.
Use two different exchanges for each swap.
Exchange A will know you swapped 'X' Bitcoin for Monero, but not know where it went.
Exchange B will know you swapped 'X' Monero for Bitcoin, but not know where it came from.
If you want to eliminate the small chance of collusion between exchanges, paranoia dial to max, do both swaps p2p with different peers using Bisq, Robosats, and/or LocalMonero
You can send everything to XMR for the first swap, but for the second swap - send different amounts to BTC and stagger the timing. A few days maybe.
LTC is pretty nice as a bridge to XMR since most exchanges have it and very cheap to transact. Also, MWEB (MimbleWimble Extension Block) gives very good privacy. It hides amounts and address completely just like Monero *BUT* spenders are visible very briefly when the transaction is broadcast (although you have to grab the data at the time it happens or it's gone forever) where Monero obfuscates spenders with ring signatures.
Not a lot of places accept MWEB directly (you have to peg out to a transparent address), no mobile support, and the pool is pretty small...but still very good privacy vs most crypto
Yes, you'll still break links to yourself if you first swap to XMR then back to BTC in different amounts and stagger the timing, but there will always be a record that you bought X amount of Bitcoin at Y time tied to your identity. That will eventually be leaked, hacked, and/or given to government. This stuff happens very often
🧡
That's for the case I don't want to deal with monero
What? Why
By swamping two volatile tokens I'm bond to lose more than a fixed whirlpool fee. And I'm a maxi.
Where in nature is there a stable monopoly? And I bet you can't prove your first point.
Fiat speaking no one is swaping different tokens 1:1 at given time, If they do, they are working free of charge and shouldn't be trusted. Adds the swaping fee to volatile price of both and you're going to lose a lot in the long time. I won't prove you anything as you shouldn't trust me, go and verify.
This is not true. You'll likely spend less (at worst the same) and gain true privacy, not just obfuscation. I use to Whirlpool all the time.
SamouraiWallet has trustless atomic swaps between BTC and XMR.
Yeah, I posted about that on this post, trying to figure out how it works
From a personal standpoint, even if Wasabi provided on chain privacy, I wouldn't use it because they support a chain surveillance company. I don't have experience with JoinMarket. The problem is the deterministic links that are created when you spend after mixing, which defeats the purpose of having mixed in the first place. I don't know if either Wasabi nor JoinMarket has found a reliable solution for this issue. If I have to spend on chain, I would only use Samourai Wallet since the tools help maintain your privacy and are used by people I trust. nostr:npub1q3y7u8crtels6ew4muephe20ae07zw80emtmvlm8zf4mg9rl63wqd5gxtn Did I miss anything?
https://bitcoinmagazine.com/technical/wasabi-vs-samourai-for-bitcoin-mixing
Really? Wasabi is sketchy eh?
There are too many red flags for me. I forgot to mention their problem with address reuse. I don't have a personal stake in this. I want the best Bitcoin privacy tools and as many as can be created.
https://www.youtube.com/watch?v=alcLdBsoDDg
https://www.podpage.com/citadeldispatch/citadel-dispatch-e015-bitcoin
https://bitcoinmagazine.com/business/wasabi-wallet-explains-new-bitcoin-censorship
