Haha my bad.
I was thinking for a moment that the coinjoin is synergyzing with the XMR spending step.
But now I think instead the coinjoin is just to allow you to hodl bitcoin without anyone knowing for sure you still have it, even if they have the receipts of your initial purchases. Right?
To be clearer, I most recommend: BTC -> XMR -> Spend XMR
If for whatever you don't want to do the above: BTC -> coinjoin -> Spend BTC
My least recommended is: BTC -> XMR -> BTC because there are so many caveats. Even more potential pitfalls than just coinjoining because you are additionally involving a centralized third party, the exchange, with a full view into your swaps.
If you are just hodling, and bought KYC free, none of this is really necessary imo until you decide to move/ start spending your BTC.
Ohhhhh
I read your message as this:
Or even:
BTC -> Coinjoining -> (swap to xmr) Spend XMR
Totally my bad everything makes sense now.
Curious I found spending Monero in the US rather limited. Has that changed?
It's true, in the US at least, not many brick and mortar stores you can go to that accept Monero.
But shipped physical products and digital services online is a different story...I buy coffee, authentic maple syrup, grassfed beef, dairy products, raw honey, books, ammunition, VPN subs, email subs, alias email subs, burner phone number, and more with monero fairly often...
Spend Monero directly:
-monerica (massive merchant directory)
-moneromarket(dot)io
-kycnot(dot)me
...and Darknet Markets!
You can also buy gift cards with Monero, for just about anything, to fill the gaps:
-coincards
Thanks!
That's a better list than what I've seen on getmonero in ages.
Sorry for the many questions. I was wondering. I originally ran the node and gui wallet back in 2016 I think. I then moved to a node GUI Wallet with ledger device setup which allows me to use monerujo on android since it supported ledger. But Monerujo was a bit of a hot mess. I saw Cake Wallet but it didn't look like it supported hardware wallets. I then sold and got out 2019 (I know).
What wallet setup y'all like best?
No problem, glad to help if I can. I like to keep it simple. All I use is a software wallet for spending amounts (Liked Monerujo, but enjoying the newer "stackwallet" atm. Great UX imo.) on a phone (GrapheneOS) and also have a seperate cold storage steel plate seed backup of my savings.
These are probably the most popular and recommended software wallets in the community. Theyve come a long way since 2016/2019. All open source:
-monerujo (Android only)
-stackwallet (Bitcoin/Monero only version available - Android, iOS)
-cakewallet (Monero only version available - Desktop, Android, iOS)
-featherwallet (Desktop only)
-monero gui (Desktop only)
Ledger has always been dicey especially with the recent controversy. I think the only hardware wallet recommended right now is Trezor T model. Open source as well.
Alternatively, you can create your own cold storage:
1. Generate a seed offline
2. Generate a subaddress to save somewhere for depositing Monero into later (and/or turning the address into a QR code)
3. Etch the seed on steel plate backups (or steel washers + bolt method).
Optional: You can also use the view key for a watch-only wallet of your cold storage if you like.
If you are familiar with bitcoin SeedSigner there is a fork called "MoneroSigner" being worked on, but no ETA available.
You stack Monero only? Or Bitcoin too ?
If both, what would be your ideal stack split between them?
Thanks a lot for your messages, they are very useful!
Yes, I stack both Monero and Bitcoin. I couldn't tell you an ideal split. It would just be speculation. What I can say for sure is that Bitcoin has proven to be a better longterm SoV (so far).
Because of it's default privacy, simplicity, and very cheap tx fees I find myself mostly using Monero. It's a superior MoE. Too expensive, clunky, and potentially harmful to use Bitcoin all the time especially with coinjoins.
They complement each other well imo.
Glad you find my info useful!
Yes, exactly!
I meant if you want to spend do one or the other for privacy/obfuscation.
-Swap into XMR and use XMR like normal
OR
-Spend your Bitcoin by coinjoining (You can also coinjoin and send to your cold storage to hodl)
Remember that swapping to XMR or coinjoining is *not* a substitute for buying nonKYC. If you bought your BTC with KYC there will always be that record (and that record will inevitably get accidentally leaked, hacked, or given to government. If you are paying attention to these things you know it happens constantly.)
So, ideally do both, buy nonKYC and coinjoin (or swap to XMR)
https://protos.com/crypto-whales-targeted-in-wave-of-home-invasions-near-vancouver/
https://github.com/jlopp/physical-bitcoin-attacks/blob/master/README.md
