Post
Topic
Board Service Discussion
Re: 2023 List Bitcoin Mixers Bitcoin Tumblers Websites
by
whirlwindmoney
on 11/03/2023, 05:45:32 UTC
I think I completely get it - and I'm sure I'm oversimplifying your concept as a whole, but it's roughly like using an exchange to 'mix' your coins, depositing and withdrawing sometime in the future. The withdrawal comes from a relatively centralized pool, and it's very difficult to track a deposit to a withdrawal on an exchange from the outside. The risk comes from whatever info you've given to an exchange on the inside, but of course there'd be nothing to give to a mixer. You'd just have to trust that the mixer isn't taking any identifying info like your IP and all that. It seems like trust is going to be the absolute make or break it, haha I can already see that you're unfortunately going to get a lot of criticism in that space when people won't like leaving their coins on the platform. My thoughts are that this sort of mixer should be offered, and it's entirely up to the user to determine his own tradeoff on trust vs. privacy. Users can pretty much maximize privacy on a mixer that operates like that model, but they have to give up a very significant amount of trust as well that their notes will always be redeemable. Offer it up, and regardless of what happens, it's going to be very intriguing to follow all the conversation that comes up once you make your announcement post.
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From a security standpoint using our notes compared to chipmixer it's very similar since if you don't move the funds from their addresses they still have the private keys, a huge advantage they have over us though is reputation. For those that don't want to take the risk of using the notes and waiting longer can just use the 'fast' mode and have their coins sent in the next block. It is entirely up to the user to choose what is best suited for him when he uses the platform.

I can also see a lot of heated discussions happening and perhaps even accusations towards us because of the model we are choosing to run and there is nothing I can do or say to reassure anyone other than always being upfront regarding everything. With time trust will be built and we could look into longer-term solutions like decentralizing the service altogether or at the very least finding some highly reputable users on this forum that would be willing to be added to the multi-sig and sign transactions alongside us so the risk of any single party running away with the funds is eliminated altogether.

The announcement post should be live sometimes next week