You wouldn't give your mom a UTXO - Niftynei \ stacker news ~privacy

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You wouldn't give your mom a UTXO - Niftynei insider.btcpp.dev/p/you-wouldnt-give-your-mom-a-utxo

2451 sats \ 10 comments \ @Scoresby 31 Aug privacy

zaps forwarded to @niftynei (100%)

Nifty has a great summary of the recent btc++ privacy edition in Riga. Lots of links and some great context for each of the people/projects she highlights.

Highly recommended weekend reading!

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465 sats \ 2 replies \ @optimism 31 Aug

Great overview.

I watched the coinjoin talks first. I like these because solutions are here already; it's not some PoC anymore.

I enjoyed @kruw's talk. Not sure about the not-degrading-over-time; maybe we should have a discussion here on SN about that some time.

I also found it rather amusing that @petertodd at the end of his coinjoin analysis describes literally how I pay the ~AI territory fees and do most my personal spending: on-chain payment -> wasabi -> open new LN channel -> spend through LN.

211 sats \ 1 reply \ @petertodd 31 Aug

Awesome!

Though a critical detail: when you close the channel, what do you do with the 1% or so remaining? I personally like to donate it to charities.

Also, do you make a new node each time? Your node identity should ideally be new each time.

282 sats \ 0 replies \ @optimism 31 Aug

when you close the channel, what do you do with the 1% or so remaining? I personally like to donate it to charities.

Until now, I've just re-mixed it into hot wallet. Donation is actually a great idea. The more joined coins in circulation, the better.

I also don't close all of them - having some inbound liquidity can be useful in case someone wants to send some sats over LN. This way I don't need any LSP; I'm basically providing my own inbound this way.

Also, do you make a new node each time?

Yes, new node, otherwise you kinda just re-join the utxos. I currently like Blixt for this. Since 3 months I started using it for this and it's super easy to just close a channel and remove the entire thing, restart from scratch. The only downside is that I've had some private channels that were rather sensitive to routing issues on Blixt though; I need to look into that.

113 sats \ 5 replies \ @zapsammy 31 Aug

TLDR: if one wishes for privacy, he must go off-chain;

253 sats \ 4 replies \ @DarthCoin 31 Aug

onchain was never meant to have 100% privacy. It's almost impossible to have that with a public ledger LOL That's why we have LN

11 sats \ 0 replies \ @evanbaer 1 Sep

Facts.

0 sats \ 0 replies \ @Bell_curve 2 Sep

trigger alert: and Liquid

and I expect epithets from Darth in one hour or less

unless his NPC minions jump in

0 sats \ 0 replies \ @optimism 31 Aug

0 sats \ 0 replies \ @alice_bob 31 Aug

Yes

0 sats \ 0 replies \ @plebpoet 31 Aug

go @niftynei !