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0 sats \ 2 replies \ @tulun 5 Jul 2023 \ on: CoinJoin (worth it or not?) bitcoin
I do coinjoin almost all bitcoins I buy in a way different from non-KYC p2p (never used a real KYC exchange, but some local exchange services that technically can track my identity easily if they want).
One important reason to do that is not just hide the history of your coins, but make your future counterpart be totally uncertain on how big your stack is. That's why I think it is important to use as small denomination as possible, e.g. 100k sats in Whirlpool. It is slow but worth that.
Withdrawal your money from an exchange using LN (and then swapping to onchain in small portions if you like) seems a bit worse but still acceptable option to me.
Thanks for the comprehensive view @Tulun 100k sats each time ... with such pace it will easily become a full time job :)
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No, with Whirlpool using Samourai or Sparrow wallet you don't need to manage every coinjoin manually - you can start with whatever amount, then it is split into 100k (or larger if you prefer) chunks and they are mixed automatically then. You only have to keep the machine running the wallet turned on all the time. First mix happens very quickly, but if you want better anonymity for your UTXOs it's typical to wait for at least 3 mixes for each, and that can take quite a while (usually I had no more than 10 remixes per week, running 24/7).
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