I hate the word "revolutionize," so I mean it when I say that blind certificates could actually revolutionize the mixer industry. They're going to be important to understand if you're in this space, so as a weekend project, I tried my best to create an easy-to-understand explanation graphic. Of course my guide simplifies the info a little, but it's meant to explain this stuff to beginners. There's more to add at a later date, but this should be a good start!
If the image is a little blurry, you can click it to view the full size.
Excellent stuff, but I think you should make the image a little bigger, as it is hard to read the small parts of the text without clicking.
The flow looks like this: User deposits 1.1BTC using the Note method and now holds a private key. With this private key he would then issue two Blind Certificates, one of them for 1BTC, and the other for 0.1BTC. Now his deposit is provably anonymous. Whenever he wants to withdraw, he redeems the two Blind Certificates for one or more Notes, and he follows the normal Note withdrawal procedure. In this case the user would be protected by 2 Anonymity sets, the public one which is the one that is now shown on the website, and by the Blind Certificates one, which proves beyond any doubt that you indeed got complete anonymity using the service.
I don't completely understand where the two anonymity sets come from. Do you mean the coins are taken from the 1
BTC and 0.1
BTC anonymity sets? And in which order?
If we could debate the reasons why, I'd argue that the corporate banking system has had a hand in suppressing this technology. It's utterly a direct threat to their existence. There's no other way to put it.
Of course, the rouge moneyball gallery want everyone to use CDBCs instead of dollar notes, so nothing to see here.
Banks shouldn't really be concerned about mixers. That's more of the Fed's problem.