That’s what I mean though. Say I want a private transaction.
Why not just convert btc to monero. THEN buy what I’m trying to buy
Where would there be flipping back and forth?
Discussion
because if it's a sensitive purchase that might be surveilled The Adversary will see the BTC going into the swap,
and then can make guesses about the movement of Monero based on timing.
iow
interacting with transparent chains can only degrade the privacy guarantees of non transparent ones.
Okay.
Let me land…
So if I’m paying you in monero.
I convert btc into monero and send it to you because you only accept monero.
Where is the privacy break in that.
I think it’s only once you convert that monero into btc. No?
Also.
Who would only accept monero and not btc. ?
*as long as we assume the swap service isn't compromised*
its much better for them if I swap it back of course. (the same amount)
But suppose the Adversary compromses me and see the receiving end of the tx,
or suppose the swap service IS compromised...
Assuming everything is good, they just see your BTC being sent to an swap that provides Monero and can guess about the output the swap in the next block.
then they have to guess when/if it's spent.
not a lot of info and probably safe.
*unless* someone else is compromised, they get their hands on one of our wallets, etc, in which case they can start putting pieces together.
most DarkNetMarkets use Monero these days and if they accept Bitcoin they flip it quickly over.
Monero has about 10% the tx volume of BTC i think.
also
xmrbazaar.com