Post
Topic
Board Service Announcements
Re: [ANN] ChipMixer - mixing reinvented
by
ChipMixer
on 26/07/2017, 12:28:55 UTC
ChipMixer, have you considered adding a warrant canary?
It would be good to have a "defense" against this type of thing, so your users can know if something happens.
After FBI operating child pornography website and darknet market Hansa for weeks, do you still believe warrant canaries? They do not play by the rules anymore.

But if the level of traffic stays high for longer, you'll get back to normal, right?
As long as we can predict the demand, we can prepare enough chips.

If ChipMixer has - say - 100 Bitcoins, and someone wants to mix 200, it's nice to know up front that won't be possible.
Our current highest size chip is 4.096 BTC so our recommended max amount per mix session is under 10 BTC. If you send more, instead of one confirmation required, we require 6 confirmations. 10 BTC is around $25,000. Mixing 200 BTC means mixing $500,000. Do you need to mix half a million in one transaction?

If there is a demand, we can add 8BTC, 16BTC, 32BTC chips.

Also, if yesterday's ChipMixer users will get "newer" Bitcoins back, how do you guarantee they don't get their own Bitcoins back? Especially if you don't keep logs of who deposited which coins.
There is no guarantee, there is chance and receipt. Chance means that if you send 1 BTC out of 100 BTC pool, you have 1/100 chance to receive the same coins. Even if you would receive the same, there would be no proof they are the same. It is like throwing a dollar into cup of dollars. Even if you pick the same one, they are fungible and there is no difference whenever you pick any of them. Receipt is a signed proof you have received funds from ChipMixer.

Hopefully Chipmixer can try to clear the image of a bitcoin mixer, so that it is not only used for buying drugs and whatnot but rather protecting your privacy when using bitcoin which is obviously a public ledger.
How would you do that?