It's not fake security, it's just a protection from multiscam, in case i'll get scammed by chipmixer i can prove it to protect other ppl form using scam service, but current chipmixer site doesn't allow me to do that, they can scam money easy and just say that i deposit to wrong address covering it by "reputation" in this forum.
Being different than other mixers is valid excuse not to offer Letter of Guarantee. For example ChipMixer does not offer LoG because it is incompatible with chip withdrawal idea. It would be nice to have an additional security measure but sometimes you just cannot do that.
Letter of Guarantee works because:
- deposit address is public
- withdrawal address(es) is public
- transactions (deposit, withdrawal) are public
- all data is known beforehand and can be signed
If mixer does not send withdrawal transaction - user publishes LoG and everybody can verify:
- signature is correct
- deposit was made
- withdrawal was incorrect
You didn't understand my proposal, there should be 2 letters for this type of mixer (private keys based), one before deposit - one after. First letter prove that address generated by chipmixer, second one - private keys.
You still didn't answer: how should i prove that address generated by chipmixer in case they'll silently change it after large deposit?
With your proposal ChipMixer signs letter that contains address. User say they did not receive chips. They publish signed letter that address is ChipMixer address. ChipMixer says they released chips. Who is lying? Nobody knows - only known thing is that it was ChipMixer address and funds were deposited. User cannot prove they did not receive chips. ChipMixer cannot prove they released chips. What kind of guarantee is that?
Second letter - signed private keys - does not do anything for guarantee. If user received chips - they would not show second letter. If they did and ChipMixer show second letter - ChipMixer can sign anything they want - it does not prove anything.
So we returned to my first question: how should i prove that i deposit to you if you'll silently change deposit address? Who will be more believed on this forum: newbie lost money or mixer running signature campaign for 2 years? Answer is pretty simple, that's is why i'll never use that, nobody knows what is your cap of money for exit-scam. Every mixer has it, you can talk everything you want about it, but if someone deposit enough coins for your life you'll close doors or just scam deposit and keep working, because it's not possible to prove that deposit address is yours.
If you're really respectable service your must solve it and it'll attract more customers. But for now is just based on fake trust that you're will not change deposit address - not enough.