Post
Topic
Board Bitcoin Discussion
Re: 'Wasabigeddon' article discussion (it supposedly solves fungibility)
by
n0nce
on 29/07/2022, 13:55:24 UTC
oh and one other thing.
mixers dont mix your privacy coins with some fresh mint clean coin..
most of the time legit people dont care about mixing so the majority of coins in a mixer are going to be privacy nuts and criminals. so in many cases you hand over your legit coin but just want privacy. and you end up with sone other criminals coins.

in the end no matter what your story is or your reasons.. your still going to get flagged and investigated, even if the mixed coins were from another legit but 'privacy nut' guy
I'm not sure you understood the purpose of mixing right. It's not about 'exchanging coins for clean coins' but about breaking the link between your various transactions.

Imagine I have a 0.1BTC UTXO in a wallet, for example earned through mining. Since Bitcoin is pseudonymous, the address and the UTXO are not tied to any identity of mine. I'm fine.

Then I spend 0.04BTC, roughly $1000, on a laptop that I buy in the trading section of this forum. Whatever I am going to do next with the other 0.06BTC, the seller will be able to see, since they can see which UTXO I used to send the payment and can easily trace where the change went.
Then they can monitor the change address and find out what other things I buy or businesses I use (e.g. if 0.03BTC goes to Coinbase). If they wanted to deanonymize me, they could even come up with a reason to demand my real name from Coinbase by having them check whose account that 0.03BTC payment was credited.

Instead, if I had mixed the 0.06BTC change, I would get back roughly 0.06BTC, but with a different history, and no link to the original 0.1BTC, and no link to the 0.04BTC payment to the Bitcointalk laptop seller.

I also don't care if you don't understand what privacy means, why it's important and to some people even necessary for survival. That's a different topic and there's enough information online to read yourself; no need to call people 'privacy nut guys'.