if anyone can provide a basic explanation as to how coinjoin works that would be much appreciated. Hard to find a good basic explanation.
122 sats \ 0 replies \ @zuspotirko 22 Aug 2022
Its very easy. Instead of you making a transaction to your supermarket and your neighbor making a transaction to a bakery at the same time the two of you make one big transaction with you and your neighbor paying in and supermarket and bakery getting out. You and your neighbor both have to sign the bundled transaction but nobody from the outside can know who of you payed to where.
Now image the same thing with lots of people and lots of transactions. If additionally to that lot's of transactions come from and go to wallets that nobody knows to whom they belong, and lots of transactions come from UTXOs that came from coinjoins ... the privacy can be pretty neat
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104 sats \ 0 replies \ @2big2fail 22 Aug 2022
melting three gold coins together in order to create three new ones
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120 sats \ 1 reply \ @badabing 22 Aug 2022
You and 4 friends each put a 10 dollar bill in a pile. You mix up the pile and you each take one 10 dollar bill out of it. It's now not certain who has your initial bill. (Forget the unique IDs on dollar bills for a second). Not a perfect explanation but it's easy to understand.
In Bitcoin, each UTXO has a tx history. When you join a CoinJoin pool, you mix up your UTXO with other people's UTXO's in a similar way. No one knows who ended up with your initial UTXO, and no one knows which UTXO now belongs to whom.
CoinJoins are however very visible on the blockchain. If you're interested, you should look up CoinSwap. Chris Belcher is working on this feature, which would allow people to swap coins on the base layer without any trace (it looks like a normal tx).
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0 sats \ 0 replies \ @IanMalcolmPhd 14 Dec 2022
Is a coinswap basically mixing?
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0 sats \ 0 replies \ @shyfire 22 Aug 2022
others answered this pretty well
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0 sats \ 10 replies \ @moneroshill 22 Aug 2022
CopeJoin
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101 sats \ 9 replies \ @tomlaies 22 Aug 2022
Do not ask what the currency can do for you. Ask what you can do for the currency.
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0 sats \ 8 replies \ @moneroshill 22 Aug 2022
I ask that the currency should be functional.
What can I do for the currency? Apparently nothing because blockstream controls development and prevents network upgrades through hard forks. So basically we are allowed to polish the turd but not replace it?
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101 sats \ 7 replies \ @badabing 22 Aug 2022
It took you 24 hours to go from "we're all stackers here" to "bitcoin are turds, we should use Monero" lol.
Can't wait for that blocking feature!
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110 sats \ 2 replies \ @ek 22 Aug 2022
Just ignore him, he'll get bored
Or in other words: a shadow ban / ignore feature would be nice, yes.
Then the probability of him just making a new account decreases since he doesn't know why people don't reply anymore
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100 sats \ 0 replies \ @badabing 22 Aug 2022
Yes, this. I want this.
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0 sats \ 0 replies \ @moneroshill 22 Aug 2022
There is no such thing as a shadow ban. I have access to a ton of IP space so you won't be able to prevent me from checking the public-facing site to see if my posts are shadow-banned, at which point I will just make a new account.
Trust me, having to read my comments is not the worst thing that could be happening to this site. If I wanted to be mean, I would set up a botnet to flood the front page for like 5$ of sats a day.
I think it is pretty interesting that no one here understands the nature of sybil attacks, seeing as that's the one thing this site was designed to prevent.
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0 sats \ 3 replies \ @moneroshill 22 Aug 2022
I will just make another account.
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100 sats \ 0 replies \ @sb 23 Aug 2022
@k00b - as an improvement, how about an option to pay some sats to block posts and comments from unproductive users such as this one from appearing on our personal feed? I would jump on that opportunity. Thanks :)
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0 sats \ 0 replies \ @nout 22 Aug 2022
Or you add more content that people find valuable and actually earn some sats...
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0 sats \ 0 replies \ @badabing 22 Aug 2022
I'd see you from a mile away.
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