Replying to HODLÉire🇮🇪

Question. Does anyone use sparrow for whirlpool? Wouldn’t mind increasing the privacy of some of my stack. Any tips or pitfalls?
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Max 2y ago

A couple important precautions to take with whirlpool:

- turn on tor, it's not on by default

- connect your own full node backend, your xpub gets leaked by default

- only make single input tx0 transactions, otherwise your pre-mix history is leaked by default

- prepare at least a month for the ceremony, it takes a long time by default, by default only 5 remixes is not enough

- do not use ricochet, it has a fingerprint by default and is super expensive

If you'd like to avoid all of these pitfalls, save a bunch of sats on fees, and be done with it in a day rather than half a year, just use WasabiWallet.io

If you wanna learn more, checkout coinjoins.org

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HODLÉire🇮🇪 2y ago

Thanks for these really! Have heard lots about wasabi will look into it. Will probably reply here with questions after reading about it.

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Max 2y ago

Cool, looking forward to your questions.

docs.wasabiwallet.io has a lot of info too

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HODLÉire🇮🇪 2y ago

nostr:npub1klkk3vrzme455yh9rl2jshq7rc8dpegj3ndf82c3ks2sk40dxt7qulx3vt question for you if you see this. It looks really cool and have started messing around with it.

I read in the terms of service basically that they can suspend coinjoining if found to be used in illegal transactions?

I understand there are black listed addresses that would be blocked/suspended but does this mean wasabi has to keep track of the transactions or try follow them. Say a situation where I’m not blacklisted but then a government asks for details on me/blacklists me after a coinjoin.

Would wasabi be able to give up my privacy after the fact? Will they ever ask for information up front for compliance reasons?

Thanks a million

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Max 2y ago

Wasabi is built in such a way that the client does not trust the server, and no sensitive personal information ever leaves your laptop.

This means the coordinator (with whom you agree to the T&C) does not know your IP address, name, or which addresses belong to you.

You only trust the coordinator with uptime, meaning that it is expected that some addresses might be rejected from registering. In this case still nobody can steal your bitcoin, and you can spend them wherever you want.

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HODLÉire🇮🇪 2y ago

Ah nice one so it’s trustless and just facilitates the transactions. Nice one thanks for that!

So the main value prop here vs other mixers comes from how easy to use it is ? Hence the “service” fee. So then does the coordinator still pull from an open pool of transactions? Say people who are wanting to coinjoin through whirlpool ? Or are these different protocols and so have different anonymity sets ?

I couldn’t find it in the docs but just link it if so. You’ve taken enough time out to reply to me. Much appreciated btw.

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Max 2y ago

Wabisabi differenciates itself by having extremely low cost.

First, the UX is trivial and everything is automated, so there is little educational cost.

Second, the time until your entire wallet is private very short, so there is little time cost.

Third, the blockspace consumed is managed very efficiently, so there is little mining cost.

Fourth, not even the coordinator can steal from you, so there is little rug-pull risk cost.

Wasabi, BTCPay, and Trezor Suite users all participate in the same coinjoin transaction, and other wallets can implement this protocol too.

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HODLÉire🇮🇪 2y ago

Got it! Sounds good to me I’ll do a few test ones. Thanks a million!