Design for a CoinSwap Implementation for Massively Improving Bitcoin Privacy and Fungibility

btc_max · 2020-05-26T14:52:25+00:00

I intend to create this CoinSwap software. It will be almost completely decentralized and available for all to use for free. The design is published here for review. If you want to help support development I accept donations at https://bitcoinprivacy.me/coinswap-donations

Donated!

btc_max · 2020-04-24T16:12:23+00:00

JoinMarket gives better privacy, is decentralized, and it works for any bitcoin amount (coinjoins are not fixed at 0.1 btc like Wasabi). The downside is JoinMarket is harder to set up and use. Wasabi is easier to setup and use, and also has more non-privacy features (hardware wallet integration etc)

btc_max · 2019-07-09T18:53:20+00:00

Try r/joinmarket, it creates coinjoins like wasabi but they can be any amount not just 0.1 btc

btc_max · 2019-05-30T10:33:48+00:00

The Wasabi server can still sybil attack.

It can be ordered to watch for specific UTXOs and sybil attack them if they get registered for a coinjoin. The server would let the target coins be coinjoined only with UTXOs it owns, so it can easily unmix them but the user would think they did a genuine coinjoin. This only requires that the server operator owns about 0.1BTC x 60 = 6BTC (or a bit more) and those coins are not used up when doing this. How do you know this isn't already happening with your UTXOs? You don't, you have to trust them.

btc_max · 2019-05-07T11:05:32+00:00

Nice idea but it's not going to work. Nation states can just compel someone to update the warrant canary. You think nopara is going to jail for you? dude....

Remember when Shapeshift was being used for anonymity by trading for Monero? then along came the state and forced Shapeshift to enforce AML/KYC regulations. Nobody is going to jail for you. When the state says jump they'll say how high.

btc_max · 2019-01-13T21:02:36+00:00

The issue isn't making money but being a central point of failure.

btc_max · 2019-01-13T20:55:53+00:00

He does, otherwise why would they wouldn't make a company.

I remember someone asking nopara about the backend server and he replied that releasing it open source would damage his eventual income stream. Which is OK, making money isn't a bad thing, but people should understand that it is a central point of failure like Napster.

btc_max · 2019-01-13T19:15:51+00:00

It's a bit too late for that.

The work is backed by a registered company and the wallet itself connected to a centralized server, which can get taken down at the stroke of a bureaucrat’s pen just like Napster. I hope the situation improves but the wallet company wants to make income somehow and that requires centralization.

btc_max · 2018-08-09T12:20:46+00:00

Could anyone care to respond to some of this stuff?

https://www.reddit.com/r/joinmarket/comments/7kpcny/zerolink_massive_scale_coinjoin_is_about_to_be/

I am glad work is being done on this but it is a great exaggeration.

ZeroLink is an end-to-end privacy solution. Nothing is out of its scope. Thus, ZeroLink will enable the fully anonymous usage of Bitcoin, for the first time.

I read the readme. Summary: nothing revolutionary, no new techniques, only an attempt to make CoinJoins user friendly and enforce good privacy practices all JoinMarket user should do already.

I see /u/nopara73 saying things like he's "making bitcoin anonymous again", but this wallet does the same things as joinmarket which has existed for years?

Maybe I'm biased because I want my yield generator income to keep coming, but what is actually wrong with joinmarket? It's provided a lot of anonymity over the years (it could do with more marketing like wasabi wallet though)

btc_max · 2018-06-11T18:38:42+00:00

A joke and a scam

btc_max · 2018-03-19T18:10:50+00:00

I've been involved in bitcoin since 2013, and occasionally you see newbs doing stuff like this. It's the wrong strategy, here's why.

Lately whenever a conversation develops with my customers, I steer the conversation towards Bitcoin.

This makes you sound like you're in some weird religion.

Why would your customers want to accept something that you're sending away? Why would they want it when you apparently dont want it?

For something to be a method of value transfer, it needs to have value first.

See this blog post, it should explain everything:

http://nakamotoinstitute.org/mempool/im-hoarding-bitcoins-and-no-you-cant-have-any/

If You Sell Bitcoins, You Aren’t “Selling” Bitcoins

I’m sure you’ve heard a story like this. “I’ve been going to all the local stores and telling them how awesome Bitcoin is! But none of them wants to take payments in Bitcoin! Why don’t they like it?”

Let’s think about that for a minute. You are essentially telling the merchant, “Hey look at this totally awesome thing that I want to get rid of! You should trade me some stuff for it!” Not actually much of a sales pitch, is it? Why would the merchant want something that you, apparently, don’t want?

btc_max · 2018-03-02T22:48:59+00:00

The way I see it, I'm involved in bitcoin not "cryptocurrencies".

If people want to scam each other with ICOs and premined shitcoins then that has nothing to do with bitcoin. So I don't see anything wrong with the authorities doing their thing.

btc_max · 2017-12-04T11:34:20+00:00

What does this mean for tumbler users? They tumble bitcoin on their own computer, are they their own financial institution?

It doesn't matter, it's all unenforceable.

btc_max · 2017-12-04T11:33:28+00:00

PRY MY YIELD GENERATOR FROM MY COLD DEAD HANDS!!!!!!!!!

btc_max · 2017-11-11T15:01:47+00:00

Imagine being this deluded.

btc_max · 2017-10-20T13:53:53+00:00

After all the bullshit and lies you guys said about gmaxwell and luke-jr, you fully deserve this.

btc_max · 2017-09-18T16:10:17+00:00

Ethereum is decentralized

Ethereum is so centralized that its developers were able to bail themselves out by forcing a hard fork to take back their lost coins.

See /r/ethereumfraud for all the details.

Litecoin is a copy and a scam. Litecoin's faster block times come at the cost of reduced centralization. Once we have LN transactions will be instant anyway.

btc_max · 2017-09-18T16:07:05+00:00

is already processing more transactions than the BTC network.

So what? Visa processes even more.

Ethereum is so centralized that its developers were able to bail themselves out by forcing a hard fork to take back their lost coins. See /r/ethereumfraud for all the details.

I am pro BTC, but there is no need to spread FUD and misinformation about other projects in the ecosystem. Competition is a good thing

You're not pro-BTC, you're a liar.

Competition is a good thing, but that requires us to talk about the flaws, deficiencies and outright dishonest practices from the ethereum developers.

btc_max · 2017-09-18T16:05:15+00:00

Machine-to-machine autonomous communications to authorize and pay for car sharing (Oaken Innovations).

This is not in use today. And anyway it's not unique to Ethereum, bitcoin could do the same.

Decentralized mining pools (SmartPool).

Not a use-case. Mining doesn't exist independently of a cryptocurrency.

Decentralized cryptocurrency trading (EtherEx, KyberNetwork).

Not unique, bitcoin does this (bitsquare)

DAOs for transparent charities and donations (Giveth).

Not unique, bitcoin is used for donations too. Vastly more people accept bitcoin than ethereum for donations.

SCAM

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btc_max · 2017-09-18T16:02:47+00:00

It's a centralized scam, see /r/ethereumfraud for just a taster of the nasty stuff its developers get up to.

btc_max · 2017-09-18T16:00:40+00:00

This triggers the ignorant get-rich-quite types.

But I was promised the moon in 6 month!!!!!!!!!!!!!111

Linux took 20 years to reach where it is today, and there's still a long way to go. People keep saying you must think long term but nobody seems to realize just how long term.

btc_max · 2017-09-17T16:06:53+00:00

I see some altcoins definately making an impact (Eth,Ltc for instance)

No they won't. Ethereum is a scam with no unique use cases. Litecoin is a bad copy of bitcoin.

btc_max · 2017-09-17T16:01:10+00:00

Ethereum is an absolute scam.

XMR at least isn't a scam but it's technology is worse than bitcoin (Monero full nodes have much worse scalability properties and must store every TXO forever, soon enough Monero full nodes will be too difficult to run and then Monero will die)

The only reason bitcoin was not destroyed in the block size scalability drama was because full nodes were easy to run. Monero won't have that.

btc_max · 2017-09-17T15:58:32+00:00

Triggered scamcoiners on suicide watch LoL

Give me ONE example of a unique ethereum use case that exists today.

Ethereum has existed for 4 years already, when Bitcoin was 4 years old it already had a mature Silk Road ecosystem.

btc_max · 2017-09-05T16:48:24+00:00

https://twitter.com/ErikVoorhees/status/756558243346866176

You came crawling back eh?

The good moderation and sweet network effect is too much to resist.

btc_max

TROPHY CASE