LEARN ABOUT #PAYJOIN

SOURCE #CHATGPT

DYOR

*PayJoin* (also known as *P2EP*, or *Pay-to-EndPoint*) is a privacy-enhancing transaction protocol used in Bitcoin to improve transaction privacy and obfuscate the link between senders and receivers. It is a method of making Bitcoin transactions more private by mixing the inputs of the sender and the receiver in such a way that it becomes difficult for third parties (such as blockchain analysis tools) to determine the exact amount of Bitcoin transferred between the two parties.

How PayJoin Works:

In a typical Bitcoin transaction, the sender creates a transaction using their inputs (Bitcoin they own) and sends it to the receiver, with the transaction details (such as amounts and addresses) being visible to anyone who inspects the blockchain. This can lead to privacy concerns, as the transaction can easily be traced and associated with specific addresses.

With *PayJoin*, both the *sender* and *receiver* contribute inputs to the same transaction, which results in a *combined transaction*. The idea is that the *receiver also contributes an input*, meaning the transaction doesn’t look like a simple sender-to-receiver transaction. Instead, it looks like a *multi-party transaction*, where both parties are involved in creating the transaction.

This makes it much more difficult for third parties to tell who is sending how much to whom, as the transaction structure appears more complex and not easily traceable.

Key Features of PayJoin:

1. *Increased Privacy*: The main benefit of PayJoin is *improved privacy*. By having both parties contribute inputs, it's harder to analyze the transaction and link it directly to a specific user. This is especially useful in cases where the sender or receiver wants to protect their financial privacy.

2. *No Change Address*: In a typical Bitcoin transaction, the sender often generates a change address for any leftover funds. With PayJoin, there is no need for a change address because both parties contribute inputs, and the outputs are balanced between them. This makes it harder for blockchain analysis tools to determine the exact amount sent or received.

3. *Better Fungibility*: PayJoin helps Bitcoin become more *fungible*. Fungibility means that individual units of Bitcoin are interchangeable and indistinguishable from one another. By obscuring the transaction structure, PayJoin helps reduce the likelihood that specific coins can be traced or "tainted" by previous transactions, thus supporting Bitcoin's fungibility.

Several wallets and services support PayJoin transactions, including:

- *Wasabi Wallet* (for CoinJoin, but also experimenting with PayJoin)

- *Samourai Wallet* (supports PayJoin natively)

WE DO NOT NEED TO TRICK PEOPLE INTO BUYING BITCOIN.

WE ARE NOT SHITCOINERS.

BITCOIN IS THE BEST MONEY. PEOPLE WILL FIGURE IT OUT EVENTUALLY.

Ich will einen Staat auf einem schmalen Fuss. Aufgaben: Innere und äussere Sicherheit, Infrastruktur, Diplomatie mit Kopf, sicherer Rechtsrahmen. Alles andere: laissez-faire. So einfach geht das.

Tell me abit more about (or point me to an article) why/how it's so private. It's interesting

ah, so reading between the lines of what you said, it's not decentralised. Because if it's liable to an inflationary 'bug' then that means a single point (centralised) can determine the supply issuance, right? That doesn't seem to be private at all.

What am I missing? Genuinely interested, I'm not trolling because I think it really matters.

you're right I don't. 😅 I don't actually know much about XMR. I recognise that Bitcoin offers the longest and truest timechain. Why would I join another that is just a replica with less proofs?

Also, if it fixes the privacy issue, what is it giving up in return for that? because it can't be decentralised, secure and scalable at the base layer

Dude... Huh?

How is XMR custodial at the base layer?

Watching someone redeem an Azteco Bitcoin voucher 🔥

Tell this one to this german who thinks this of free speech:

Its nice being able to have an opinion online without having to spend a second thinking if your account is going to get nuked or not

No it’s the greedy surpermarkets!! /s

Back in the uk for Xmas.

The prices are out of control. How are regular people paying these prices?

People are walking around the shops in a zomified malaise

Do tell

I did. Lost them in a boating accident though.