110 sats \ 4 replies \ @1fatmess 1 Sep 2023 freebie \ on: I think that Simple Swaps BTC->XMR->BTC are better than mixing. Change my mind bitcoin
The reason to use a mixer is so misunderstood; the main actionable reason is to obfuscate the ability of someone you pay to look up your stash. This is a solid privacy reason, but with taproot, LN swaps, LN itself and many other novel ways of interacting with bitcoin, this is becoming an outmoded argument.
They had their time and place, folks should move on; Mixers are unnecessarily expensive and, for most people, unnecessary.
For the privacy zealots who may get triggered by this, know that I am one too—I’ve just come to realise that Whirlpool (in particular) is a waste of money. PayJoin I can see a little more use for, in a pinch, but I still question its value in the LN era.
Yep, but the problem with LN is the capacity of the channels, currently most channels you are able to transact with as a pleb are limited to few hundred dollars. On chain transactions of thousands and millions of dollars require privacy and the LN is not there. A simple swap does the job easily independent of the amount
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Can you expand on Whirlpool ?
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Sure, I can try — what in particular are you wondering about?
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If there's any reasons other than the ones you already mentioned. Just interested in your pov.
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