reply on: Silent Payments? \ stacker news ~bitcoin

pull down to refresh

43 sats \ 12 replies \ @DarthCoin 7 Dec \ on: Silent Payments? bitcoin

Better start reading here: https://silentpayments.xyz/docs/explained/

For the moment are working with Bitcoin Core.

To increase privacy, he wants to use a silent payments receive address

LN offer enough privacy if is done well.

Re LN, yes. He is setting that up for smaller payments ($50-$1000 US). He is thinking of silent payments for big orders on chain (500k-1million US)

43 sats \ 10 replies \ @DarthCoin 7 Dec

Yes I understand that. Nobody wants to reveal to the payer the destination of the funds received. Only that silent payments are quite new and not tested enough and present in many wallets, to be recommended for already production cases. I will proceed with caution.

That's why you should not reuse addresses, rotate various wallets (xpubs) and occasionally do coinjoins (even that you will do it to yourself). Also onchain txs should not be done in a public way, presenting a QR code that comes from an xpub that can be known publicly.

I would do onchain txs in a more private way, p2p, indicating to the payer specific "temporary" addresses,, not the final holding ones. I am not comfortable with publishing onchain addresses on a public website that can be read by anyone else.

You can still use Sparrow with PayNyms.

Remember the 3 levels stash: hold, cache, spending.

43 sats \ 4 replies \ @DarthCoin 7 Dec

Additional to this, you may look into Payjoin with BTCpay https://docs.btcpayserver.org/Payjoin/

64 sats \ 3 replies \ @Lux 7 Dec

All this trouble, when he could just learn to use BTCPay server :)

73 sats \ 2 replies \ @DarthCoin 7 Dec

Yeah BTCpay is the best for such case. The thing is that they are quite new into this thing named "running nodes".

121 sats \ 1 reply \ @Lux 7 Dec

you either run a node or pay someone to do it for you

eg. https://opennode.com/

i know you already proposed this, but it's a pain to see the struggle :)

0 sats \ 0 replies \ @Lux 8 Dec

sry guys, i felt like I shat on your hard work. i'm just being lazy

0 sats \ 4 replies \ @siggy47 OP 7 Dec

I agree with what you said. The problem is he has web guys putting in an address, and I dont know if he's ready for regularly switching addresses. We went to a meetup last night with a guy who has been testing silent payments, and it got him excited. Basically the lazy way to post an address without giving up privacy. BTW, he just joined telegram and I had him search for you, so he might contact you soon. I can't answer many questions he has.

43 sats \ 3 replies \ @DarthCoin 7 Dec

NEVER ever post a single address on a website to accept payments. If you really want to accept onchain payments on a public site, at least generate a new one for each payment and also rotate the backend wallet, not receiving always in the same wallet.

If you want a static address, use PayNyms.

10 sats \ 1 reply \ @kruw 8 Dec

PayNym is a TERRIBLE type of static address, Silent Payments use less block space and have better privacy.

0 sats \ 0 replies \ @DarthCoin 8 Dec

I know. That's why I do not use them. But people insisting in using a single static address find it useful. For me is not. I use LN.

I find BTCPay with payjoin a good option for public shops. Powerful and elegant.

0 sats \ 0 replies \ @siggy47 OP 7 Dec

deleted by author