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Big Barry Bitcoin
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Big Barry Bitcoin - Bitcoiner, pleb, developer, enthusiast, πŸ‘ŽπŸ’©coins Check out my nostr blog! https://big-barry-bitcoin.npub.pro/

Don't overthink it. How would you secure some gold nuggets worth $5,000?

Do that for your cold storage.

Unless you live in a rough neighborhood or near one, you don't need to over secure. Sometimes that will lead to bad behaviours that compromise the security and makes it worse.

If you have a lot, then you should consider more advanced solutions using multisig, but don't rush into bad security. It's better to secure a little well, than to lose a lot because you rushed.

It is a scammer. A bot impersonating someone who has a popular podcast.

Block and move on.

GM.

We all know what the unobservable value of #Bitcoin is.

Sender can of course see the payment and can follow it wherever it goes from there.

Other observers just see donators sending funds to an unknown address randomly. Avoid asking for fixed amounts because you can always guestimate based on amounts.

When/if you spend funds together, you WILL reveal the connection to everyone's payments and COMPLETELY break sender privacy, putting your donors at risk. You MUST coin-join them first to avoid this.

Imagine a donor is known to be a supporter of yours. I track his payments and see one that looks like a donation based on amount, I send a donation myself around the same time. I later see a coin-join with both our payments. How many of those inputs could have also been donations that I could trace back to other identities? Is it finite enough to pursue?

It isn't perfect, Lightning is better IMO for private donations.

It could still hide a lot of your donations. Imagine you receive Β£1M over 1 mo from many small donations. Maybe we track known donors, but you only use money as you need it so we can't see everything.

It is only when you move donations that we can see anything useful and even then, only if you do something silly like consolidate them without coin-join and then withdraw it from coinbase.

It certainly isn't perfect, but it does feel more like cash-like privacy where it is inconvenient to track people and often fruitless, but if you are highly motivated, there will be breadcrumbs.

AFAIK, you must run a node to receive donations privately this way, I may be wrong about that, but you need to scan and query the blockchain quite intensively to find your payments because there is no XPUB afaik.

Oh wait, BIP47, I was thinking about silent payments ( https://silentpayments.xyz/docs/explained/ , https://github.com/bitcoin/bips/blob/master/bip-0352.mediawiki ) which IMO is an upgrade to that.

Well, it removes the "connect" step which costs one tx fee and adds data to the blockchain.

Sender can of course see the payment and can follow it wherever it goes from there.

Other observers just see donators sending funds to an unknown address randomly. Avoid asking for fixed amounts because you can always guestimate based on amounts.

When/if you spend funds together, you WILL reveal the connection to everyone's payments and COMPLETELY break sender privacy, putting your donors at risk. You MUST coin-join them first to avoid this.

Imagine a donor is known to be a supporter of yours. I track his payments and see one that looks like a donation based on amount, I send a donation myself around the same time. I later see a coin-join with both our payments. How many of those inputs could have also been donations that I could trace back to other identities? Is it finite enough to pursue?

It isn't perfect, Lightning is better IMO for private donations.

It could still hide a lot of your donations. Imagine you receive Β£1M over 1 mo from many small donations. Maybe we track known donors, but you only use money as you need it so we can't see everything.

It is only when you move donations that we can see anything useful and even then, only if you do something silly like consolidate them without coin-join and then withdraw it from coinbase.

It certainly isn't perfect, but it does feel more like cash-like privacy where it is inconvenient to track people and often fruitless, but if you are highly motivated, there will be breadcrumbs.

AFAIK, you must run a node to receive donations privately this way, I may be wrong about that, but you need to scan and query the blockchain quite intensively to find your payments because there is no XPUB afaik.

Well, there's the upward, but then when you come back down, you also have a branching out effect that worsens the ability to fit everyone in.

This is why it's so goddamn hard to illustrate a family tree of any reasonable size!

... the wallet that the funds are on?

I once had to transfer from WoS, which is expensive, so I transferred to Phoenix Wallet first.

My only gripe is that they resize your channel so I had to buy back the liquidity... still cheaper than WoS

What else do we need? How about sitting on the toilet face forcing out a tough one?