If I were to purchase sats on a KYC exchange that supports lightning withdrawals/payments, then withdraw to a lightning wallet service (custodial or non) before sending the sats from there into cold storage on-chain, does that act like a “mixer,” effectively disconnecting the UTXOs sent from the exchange from the UTXOs that wind up in cold storage? I’m not running a ln node, this would be using end-user wallets like bluewallet, wallet of satoshi, muun, etc. My limited understanding is that ln is something like a full pasta press, you feed raw material into one end but the pasta that emerges is created from the existing material, not the new stuff. Please excuse my ignorance and thanks for your patience in breaking this down.
8 sats \ 2 replies \ @DarthCoin 16 Feb 2022
I explained here in these 2 posts, some examples of using LN for that:
https://darthcoin.substack.com/p/lightning-cleaning-machine
and
https://darthcoin.substack.com/p/node-liquidity-guide
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6 sats \ 1 reply \ @go 16 Feb 2022
As a non-tech head, that is super dooper crazy overwhelming.
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0 sats \ 0 replies \ @DarthCoin 16 Feb 2022
Take it slowly, with patience.
Don't think that you can learn all about Bitcoin in few days.
I am in Bitcoinlandia from 2012 and never give up, learning something new every fucking day.
That's why I started this newsletter with guides, step by step for noobs.
https://darthcoin.substack.com/
All my testing, experiences, solutions used, wallets etc, I took notes and then give them form in those guides.
This is my humble contribution to Bitcoin world: educate those in need, with the knowledge I accumulate during these 10 years using Bitcoin as money.
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5 sats \ 1 reply \ @nout 16 Feb 2022
In general your proposed process improves privacy of your coins, but it's not saving you from every way you can be tracked and it's not future proof.
Specifically consider where have you associated your "ids" with your coins and transactions, e.g. if you use WoS, then WoS company has a connection between your email, your transaction from exchange and your transaction to cold storage. The benefit is that this is not centrally and easily tracked on blockchain, but if someone asks WoS they have all this info. Also it's not future proof - you can expect that a three letter federal agency will knock on WoS's doors and ask for all the records at some point (given Canada situation, it could be in next couple days...).
So should you do this? I'd say yes until you find better solution. You should look for the better solution already :)
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5 sats \ 0 replies \ @phaedrus 18 Feb 2022
Don’t give WoS traceable email (create new one just for WoS, or don’t give them any), and use VPN (to avoid WoS knowing your location). That will significantly lower this risk. Of course not perfect.
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