Post
Topic
Board Development & Technical Discussion
Re: CoinJoin: Bitcoin privacy for the real world
by
themgp
on 20/02/2014, 23:48:05 UTC
Yeah, but I'm just saying that it's pretty worthless if they store the logs.
And if they don't store the logs... well, that's probably illegal, at least in US and Russia Smiley

The only safe CoinJoin solution I see is p2p based, with some tricky encryption.

But still I think this will never beat services like bitcoinfog, assuming that they indeed remove the logs as they claim.
I mean: you deposit your money and withdraw ~98% of it, while your deposit is still unspent - destroying a log at this moment leaves absolutely no traces and it's actually a perfect "privacy for the real world".
Though it has two big disadvantages, over p2p coin mixing:
1) You need to trust the service to really destroy the logs
2) It doesn't come for free.

So I also find CoinJoin as a nice and possibly useful project, but IMHO centralizing it around a server would just defeat the purpose.
Not to mention that it would be dangerous for whoever runs this server.

The CoinJoin client I wrote, Coinmux https://github.com/michaelgpearce/coinmux is P2P and open source.  Its still in its early development phase though.  Having spent the last 10 years building web applications, building a true P2P application is definitely more difficult than building a server-side solution (which you have to trust).