532 sats \ 10 replies \ @nullcount 1 Sep 2023 \ on: I think that Simple Swaps BTC->XMR->BTC are better than mixing. Change my mind bitcoin
Spot on, brother. I once heard a well-known maxi say, "but XMR only has $2B market cap, so the demand for privacy coins clearly isn't that high"
Bruh... A coin only gets a market cap by not spending. One should look at transaction volume of a privacy coin to gauge the demand for transactional privacy. However, any decent privacy coin has confidential amounts so its not public how much is actually transacted.
Glad to see bitcoiners explore other protocols to gain superior privacy easier and cheaper than using BTC alone. It would obviously be ideal to not have any exposure to alternative assets, but like you say, with a swap the exposure can be minimized.
You can also swap between BTC and Liquid BTC to gain some privacy without exposure to non-BTC price volatility. However the number of swaps that support Liquid is far less than XMR or other privacy coins.
I never heard about limitations in terms of number of swaps with BTC and Liquid and was thinking about using Liquid in the future. Could you explain further what you mean by number of swaps supported or give a link which explains that?
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Liquid is the same thing. Just don't withdraw immediately and do so in numerous transactions of different amounts than you put in.
Research Liquid well before hand so you know what is happening. It's lukewarm storage in a federated side chain ie: trust is involved. It's 0.1% fee.
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Thanks
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+1
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Let me know if you find out
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We have no idea how much volume of the token is transferred in those txns tho. Unlike LN, there are no liquidity issues for larger volume. Many coinjoin implementations require equal input size so there are liquidity pools (10M sat, 50M, sat etc. which also limit the "rate" at which the sats can be swapped for new utxos.
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