Quote from: anonymixer on March 29, 2021, 09:30:49 PM

I've boiled this down further, I think -- a more concise explanation, for reference:

Alice wants to Pay Bob 0.5 BTC
Alice sends 0.2 BTC to Deposit Address A, followed later by 0.3 BTC to Deposit Address B
Coin Z (0.5 BTC), somewhere else, is sent to Bob and is entirely unconnected to Alice's deposits

More, and most importantly:

Coin Z went through 200+ separate CoinJoins over a period of 6 months
The Coin Alice Deposited at Address A, later on that day participates in a CoinJoin
The Coin Alice Deposited at Address B, participates in a separate CoinJoin 2 days later
Alice's Coins are CoinJoined 20 or even 200 times before they even make their way back out of the mixer

In this scenario, it is very obvious that coin Z is from a mixer, and analysis can be done accordingly. It is also obvious that Alice's two deposits are going into the mixer.

The delaying of starting CJ transactions does nothing because there is a pattern of going directly from the deposit address into CJ transactions, and it would be obvious that both deposit address A and deposit address B received coin that went into the mixer on the same day.

Most mixers have known addresses and clusters to blockchain analysts, but someone studying a mixer may not know about all of the addresses belonging to a mixing service.