Do CoinJoins Really Require Equal Transaction Amounts for
Do CoinJoins Really Require Equal Transaction Amounts for
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Bylls — the Canadian Bitcoin bill payment service by Bull Bitcoin — celebrates its 6th birthday
I sometimes find it hard to believe that it has already been 6 years since the public launch of Bylls on January 13 2014. What started out as a simple and humble “garage startup”, the world’s first Bitcoin bill payment service, evolved into so much more. Bylls eventually became the company that people know today as Bull Bitcoin, and it is from Bylls’ UASF advocacy that sprouted the Cyphernode open-source project. I also like to think of Bylls as a “bitcoin culture” institution that served as the vanguard of the Bitcoin Maximalist and Cypherpunk movements within the Bitcoin exchange and payments industry. Happy Birthday Bylls! 🎂
What is Bylls?
For those of you who don’t know about Bylls, here’s a short summary:
Bylls lets Bitcoin users pay any bill in Canada with Bitcoin. We offer a comprehensive list of nearly 9000 billers (credit cards, utilities, telcos, taxes, brokerage accounts, law firms, “joe the plumber”, etc.)
Bylls lets Bitcoin users pay anyone or any business in Canada with Bitcoin by adding them as a personal payee (rent, employees, suppliers, friends).
The recipient of the payment doesn’t need to do anything and doesn’t even need to know you are using Bitcoin, as long as they are on our biller list or the user has his banking details.
Bylls is available exclusively to residents of Canada and all the recipients must also be, exclusively, individuals or companies residing in Canada.
Mission: Building the software and financial infrastructure for the Bitcoin Standard.
Short history of world’s first Bitcoin bill payment service
Bylls was founded in 2013 by Eric Spano, a Montreal entrepreneur part of the original Bitcoin Embassy team. Eric, one of my earliest and most influential mentors, is a true Bitcoin OG. Check out his 2014 Bitcoin Ted Talk or his 2019 Podcast on Tales From the Crypt which describes in great detail the inception of Bylls. When Bylls was launched, I was Public Affairs Director at the Bitcoin Embassy, the world’s first physical Bitcoin hub (a 14,000 square feet building downtown Montreal). Bylls was effectively a one-man operation, with Eric doing pretty much everything himself. I wasn’t directly involved with the company, but Bylls was one of the startups in the Embassy’s incubator program, so I was helping out in various ways. My first “public appearance” in the Bitcoin industry was actually to man the Bylls booth at the Toronto Bitcoin Expo in 2014! In 2015, Eric was offered a huge career opportunity that he couldn’t accept without stepping down from running Bylls. It was to me an inconceivable tragedy for Bitcoin to let Bylls quitely close down. For the past 2 years, whenever somebody asked me “what can you do with Bitcoin?”, I would always reply “well, for starters, you can pay all your bills in Canada, even your taxes and your credit card”. What was I going to say now? I had just founded my company Satoshi Portal Inc. with the aim of developing a non-custodial Bitcoin exchange (which eventually became Bull Bitcoin). And so, I acquired Bylls from Eric and it immediately became the focus of all my energy. For the first year, our team consisted of only 2 people including our lead developer Arthur which is still working on Bylls features to this day. From the beginning until today, we are still 100% self-funded. We grew organically and slowly. My philosophy on entrepreneurship and startup scaling is articulated in this medium post.It has been an incredibly intense journey. I cannot think of a more challenging professional experience than being a startup founder and entrepreneur in the Bitcoin industry. The number of Bitcoin startups that have perished since is a stark reminder. Some of them sank quietly, but many went down in flames taking down their users with them. The fact that Bylls is still standing — without VC funding and with its reputation intact — is my proudest achievement. Over the past 4 years. we completely redesigned the software, continuously adding new features, but the core of the service remained the same. Most importantly, we added the ability for users to pay any individual or business in Canada by creating a personal biller from their bank details. Previously, they were limited to Bylls’ biller list of around 9000 billers. One of the defining moments in the history of Bylls was UASF. Bylls was one of the first Bitcoin companies to support BIP-148 for the activation of Segwit (second after Bitconic). Not only that, but we were the first to run a public BIP-148 block explorer and public UASF electrum server. We had done a “seppuku pledge” regarding BIP-148, meaning that we would only accept coins from the UASF segwit chain and would pay the Bitcoin market price for them. If UASF had failed, we would not have survived. This cemented our ideology of “skin-in-the-game”. We would never compromise on our values, no matter the cost. Our policy on forks (2017) was described here. But the jist of it is:
Satoshi Portal is a Bitcoin-only company and does not conduct any transaction in any altcoin, including altcoins that are the result of a fork of the Bitcoin blockchain and which can be spent with Bitcoin private keys. This includes, but is not limited to, the coins commonly referred to as BCash, Segwit2X, BGold, Clams and Lumens.We strongly oppose the “New York Agreement” and will under no circumstance ever recognize the Segwit2X blockchain (and BTC1 client) as Bitcoin, regardless of market response or hashing power. In the unlikely event that an overwhelming majority of the Bitcoin ecosystem migrates to the Segwit2X blockchain, Satoshi Portal will continue nevertheless to support the Bitcoin blockchain.
Following the UASF/NO2X “war” in 2017, we devoted a large prortion of ressources to building Cyphernode, an open-source project that makes it very easy for startups to build and deploy Bitcoin applies without any third-parties, using exclusively their own full nodes. We are still developing this project today and plan on actively maintaining it in the future. It is also worth noting that Bylls has never accepted any altcoins and was one of the first company to pledge never to accept altcoins in the future, leading to what became the “Bitcoin-Only” movement. We were also the first Bitcoin exchange and payment processing company, to our knowledge, that has integrated coinjoin as part of its processes.
Unbanking yourself with Bylls
The coolest feature of Bylls is that you can pay pretty much all your expenses with Bitcoin without needing to go through a bank account. In Canada, you can obtain a credit card without having it linked to a bank account. In 2016, the last of my personal bank accounts was closed due to my activities in the Bitcoin industry. I decided not apply at another bank and try the experiment of living completely unbanked. I’m happy to report it was a success, and serves as a powerful testament for the use-cases provided by Bylls. I really like the idea of not owning any fiat. You can pay pretty much all daily expenses with a credit card, and pay back the debt with Bitcoin. Of course you have fiat-denominated debts which conveniently tends to diminish in price over time. You can withdraw cash from a credit card and pay it off instantly with Bylls, so you can get access to cash at any time, in any country across the world, without having a bank account. The only inconvenience is the cash advance fee. When you have to pay larger amounts such as rent or whatever services don’t accept cash or credit card, you can find the biller in the Bylls list or ask the recipient for his banking details, the same as you would for a wire transfer.
The future of Bylls
Many people ask us if we intend to expand outside of Canada. The answer is, unequivocally, no. We will always be a Canada-only, Bitcoin-only company. That doesn’t mean that we stop working hard to improve our services. We will continue to be the first to integrate the cutting-edge Bitcoin technologies that Here is are some of the features you can expect in 2020:
Pay billers via Interac E-Transfer instead of Direct Deposit only
More advanced Coinjoin and privacy features
Bylls merchant services: Bitcoin-payable invoices to clients
Last year Bitfury’s multidisciplinary Blockchain specialists announced the possibility of revealing the identities of more than 16% of all owners of Bitcoin addresses. Several years ago, a team of CryptoLux developers, having conducted a study of transaction privacy on the Bitcoin network, concluded that 60% of all addresses can be deanonymized. Summarizing all this, it’s worth highlighting three existing methods that can successfully deanonymize private transactions.
The easiest way to cluster (link Bitcoin addresses) is by analyzing transactional networks. In other words, this is a method that allows finding several inputs combined in one transaction. The second clustering method is “distribution analysis”. It allows calculation the percentage of cryptocurrency at the certain address that comes from another specific address and it becomes clear whether these addresses are connected by one direct transaction or a chain of transactions or not.
It consists of quantitative and temporal analyzes. Quantitative analysis studies not certain transactions, but amounts. Time analysis tracks specific periods.
Memory Pool Method
When a transaction is made through the user’s wallet, the input nodes send information about the transaction to the Blockchain network. The purpose of this method is to identify the set of input nodes through the wallet and the user. In this case, the IP address of the client can be associated with its transactions. There are certain private cryptocurrency-leaders which are popular and trusted among users. Using one feature-privacy, they have different ways of functioning.
Basic principles of work: anonymous cryptocurrencies (Monero, Dash, Zcash)
The platform focuses on privacy and decentralization. The coin uses three levels of protection: • Ring signatures, that hide the origin of the sender by mixing the user’s address with the addresses of other group members. • Ring confidential transactions, which hide the amount of the transaction. • Stealth addresses, that allow a user to hide the recipient’s address. Such way guarantees the privacy of the sender and the recipient. Monero can be bought on Poloniex, Bitfinex, Livecoin, and Kraken crypto exchanges. It is possible to store Monero via an online wallet. More secure is its computer wallet. Due to its privacy, the popularity of the coin is expected to grow, so it makes sense to add a coin to an investment portfolio. Advantages • Increased privacy. Cryptocurrency is suitable for those who are afraid of deanonymizing network transactions. • Unlimited and difficult mining. • It takes less time to find blocks. • Resistance to the centralization of mining capacities. Disadvantages • Resources. All currency protection technologies require impressive machine performance for normal operation. The Monero block size is constantly growing, and this requires additional resources of network participants. • The popularity in the dark web leads to problems in working with regulatory authorities, exchanges often delist it. Speaking of reputation, Monero’s reputation is far from the best. The coin is often used on the dark web as payment for various illegal services. It happens to almost all crypto coins that provide privacy. • Large transaction sizes. Since Monero Blockchain is five times larger than the Bitcoin Blockchain in terms of one transaction. • Problems with scalability.
The Dash platform is a classic decentralized Blockchain-based payment system and the most technologically advanced cryptocurrency. It implements multi-off-chain money transfers without loss of reliability and overall security of the Blockchain. Its confidentiality is rather an additional option that can be used optionally. In the case of anonymity, it is possible to send a hidden transaction, but at a more expensive cost, which also requires additional time. Dash developed a hashing algorithm with eleven cryptographic functions-X 11 for the first time. The coin developers have released apps for other platforms. Today it is possible to use Dash for IOS, Zeal for Linux, LovelyDocs for Android and Velocity for Windows. As well known, the CoinJoin is an anonymization method for crypto transactions, which is used by Dash as an improved version called the PrivateSend. Its mixing sessions are limited to 1,000 DASH for each session and will require multiple mixing sessions to anonymize a large amount of money. Advantages • High transaction speed. It is achieved via InstantX technology, which enables the confirmation of operations in less than 4 seconds. • Law transaction fees. • Energy consumption. Unlike Monero, it does not require a lot of power or high commission costs. Disadvantages • “Transparency” of the network. Without triggering the “mixing” mechanism, the directions of transactions and their balances are publicly visible to everyone. • Lack of proper cryptographic technologies that provide privacy, but can provide a sufficiently high level of protection. • Transaction visibility to the founders and the team.
An open-source decentralized cryptocurrency that provides users with maximum privacy. Zcash is the first private cryptocurrency, using cryptographic protocol zk-SNARKS, a zero-knowledge security layer. It allows users to make hidden and open transactions. Mathematically guaranteed privacy is something cryptocurrency can not be proud of. This fact makes the currency specific. All Zcash coins are identical, it means that interchangeable coins do not contain information about past use created. In this regard, the connection of coins with their history on the Blockchain is broken, which makes them universal and identical to each other. Zcash blocks are generated 4 times faster than Bitcoin. The currency trades on Huobi, Bitfinex and Binance exchanges, and after purchase, it can be stored on the exchange’s internal wallet, as well as transferred to Jaxx, Cryptonator and Coinomi multi-currency wallets. Coins can also be stored on hardware wallets like Ledger and Trezor. Advantages • Privacy. Since no information except the time stamp, is recorded in the Blockchain, transactions cannot be tracked, and the identity of the sender and recipient is almost impossible to establish. • Interchangeability. Due to interchangeability, all coins have a “clean” history. This means that it is practically impossible to determine which transactions coin was used. • Security. Lack of information about user keys, which protects user wallets and the network.Mining energy efficiency. Zcash mining hardware consumes less electricity than Bitcoin mining ASICs. • The difficulty of mining. Zcash is beneficial for those who want to get coins for block creation. Bitcoin mining becomes more and more complicated, so miners cannot earn enough money via their computers with high capacity. Disadvantages • 6 users can decide to leave the transferred data completely open. • It takes a lot of calculations to complete a transaction. • Insecurity. There are fears that the system could be hacked, or users may accidentally open the data. • Legally ZCash is supported only by Linux, however, it provides users with wallets for other platforms: Jaxx, Ledger, Trezor, Trust, Zecwallet, Ibitcome, Exodus, Guarda, Coinomi, Cobowallet, and Bitgo. Private cryptocurrencies are necessary for anyone who values the privacy and confidentiality of financial transactions. Privacy can generate more value, than danger, as Eric Hughes says: “Privacy is necessary for an open society in the electronic age. Privacy is not secrecy. A private matter is something one doesn’t want the whole world to know, but a secret matter is something one doesn’t want anybody to know. Privacy is the power to selectively reveal oneself to the world”.
Anonymity & Cryptocurrency: A Few Tips On How To Keep Your Privacy
Unfortunately, anonymity isn’t something that you think about as being valuable. But as Edward Snowden points out in one of his interviews, “Arguing that you don’t care about the right to privacy because you have nothing to hide is no different than saying you don’t care about free speech because you have nothing to say.” https://preview.redd.it/a2t5wii1wnj41.png?width=1024&format=png&auto=webp&s=df6889e510a2a0b231614636d0b6c1ac7be7e2c4 Many people are going up against online anonymity, mainly because it has the potential to enable and encourage undesirable behavior or illegal activity. State institutions and corporations are trying to limit the ability to use networks without authorization, allegedly in an attempt to increase security. Meanwhile, there is no doubt that private information that falls into the wrong hands can be used for mean purposes in many ways. Dozens of examples truly highlight the need for online anonymity today. Without it, people’s lives can easily be ruined forever. Financial and personal freedom are the main reasons why people started using cryptocurrencies. But using Bitcoin itself can not guaranty anonymity. They are not linked to a person or identity, so the name, e-mail or physical address can’t be found in the transaction. But public addresses we use publically recorded on the blockchain, so a person can be tracked down using this information and ID. Here are some methods to keep your identity safe. Use logless VPN Virtual Private Network encrypts all of your Internet traffic and routes it through multiple servers at different locations before arriving at the final location. Using a VPN is one of the simplest ways to cover your digital tracks. Logless VPN services don’t store the history of your activities, some of them provide one IP address for several users, making it difficult to isolate one person among them. It is highly recommended to avoid US/UK-based VPN services due to strict surveillance regimes in these countries. Also, you should keep in mind that some exchangers’ security systems treating logging into an account with numerous different country IPs as suspicious which can lead to blocking your account. Register a separate email Never use personal or working email for the needs of the crypto. If hackers gain access to it that can ruin your life in many aspects at once. A significant advantage will be the use of burner emails such as Guerrilla Mail and Temp Mail, or highly protected services like ProtonMail or Tutanota. Don’t forget about common security rules such as using a strong password that contains different case letters, numbers and symbols. Keeping passwords and keys on your devices is definitely not safe, better write it down in an old-fashioned pen-paper way. Create new blockchain address Make new addresses for every single transaction you make. More than half of all transactions in the BTC network go through wallets that have been in use at least once. Over time this practice will build up a list of transactions associated with one wallet. Using some manipulations those transactions could be easily associated with a real-world identity as well as your wallet could be simply hacked and robbed. Avoid KYC and AML using services Know Your Client is a policy used by many companies in which each client is required to provide credentials such as ID documents to use a company’s service. Anti-Money Laundry consists of KYC procedures and ongoing risk assessment and monitoring of transactions. Such actions are implemented in the best interest of protecting users of cryptocurrency platforms but left no chance to stay anonymous. Nowadays most of the crypto markets and exchanges require passing identity verification due to the growing control from the state institutions. However, there are some that allow you to remain anonymous unless you are withdrawing a large amount (Binance, Bitfinex, KuCoin, etc.). In such circumstances, decentralized exchanges seem like a good option. Use Anonymity-Centric Cryptocurrencies As mentioned earlier, blockchain analysis based on knowledge of the amount and time of the sent transaction allows hackers to attack user’s wallets and gain access to their data. As a reaction to this was developing coins with anonymity as the main priority. At the moment, Monero is the most popular of the anonymity-centric cryptocurrencies. It has a complex of cryptographical tools for obfuscating traces of the original transaction. Its RingCT Protocol hides the sender, recipient and transfers amounts. After the transaction is completed, it is signed and receives a time-stamp using a ring signature, where collected group’s public keys, but the private key of the specific sender is not displayed. Another private currency’s Dash work is based on the CoinJoin technology. The idea of the process is very simple: several transactions are mixed into one, so it is impossible to determine what amounts were transferred and by whom. Zcash currency uses the Zero-Knowledge Proof commitment scheme to validate transactions without revealing information about them. Protocol, called Zk-SNARKs, comprises three algorithms that generate proof and verification keys, calculate the proof and verify the authenticity of the secret information. The obvious drawback of this mechanism is extremely massive complex calculations that require enormous capacity. Even if complete anonymity seems not possible, following the above rules will help you avoid a lot of trouble. You should be extra meticulous in the process of choosing currency and an exchanger, keeping in mind where and what personal information you provide. If you need to exchange your coins private and without registration – StealthEX is here for you. Just go to http://stealthex.io and choose the pair and the amount for your exchange. Then follow these easy steps: ✔ Choose the pair and the amount for your exchange. For example ETH to BTC. ✔ Press the “Start exchange” button. ✔ Provide the recipient address to which the coins will be transferred. ✔ Move your cryptocurrency for the exchange. ✔ Receive your coins. Follow us onMedium,Twitter,Facebook, andRedditto getStealthEX.ioupdates and the latest news about the crypto world. For all requests message us via [[email protected]](mailto:[email protected])
Dear Wasabikas, Thank you all for taking the time to consider your privacy, and welcome to the community. This post is a guide for using Wasabi and should be read before reaching out for help. Currently Wasabi Support accepts questions in the following languages: English, Spanish (español), French (français), Russian (Русский), Italian (italiano) and Hungarian (magyar). Our support team now has a dedicated PGP key set: PGP Fingerprint: 30FE 98B2 6219 2F35 72BB 9C6D F8FC B536 5407 1408 You may choose to ask for help more discretely through DM, or perhaps you have sensitive information that you may need to share. We recommend encrypting data against the support key, however you may choose to encrypt messages against any of the following keys you trust (you may also encrypt against several keys). After you have looked through the commandments, please check out our FAQ written by 6102bitcoin, and our community built documentation: https://github.com/zkSNACKs/WalletWasabi/blob/masteWalletWasabi.Documentation/FAQ.mdhttps://docs.wasabiwallet.io/
3 - Keep your mnemonic words and password safely stored (BOTH!)
When creating a new wallet - write down your mnemonic seed AND password and store those safely. Wasabi is a fully non-custodial wallet, which means that should always be in possession of your keys, and this means safely storing a backup in case your computer is lost or the wallet crashes. Often times when things go wrong, users panic. If you have done this step, there is very little you have to worry about. Also, under no circumstance should you reveal the password or mnemonic words to anyone that asks for them. Lastly, understand that if you lose your password, it becomes much harder (if not impossible) to restore your wallet - so store both safely!
4 - Practice good labeling AND try to never reuse addresses
Each time you receive coins, you will be asked to create a label. This label is only for you and is stored exclusively on your device. Wasabi has strong coin control features, and as you continue to use the wallet, you will observe that the history of your coins will appear, and this history is only useful to you if you are practicing good labeling. An example of a good label: June 20 - $400 from Coinbase, primary account June 7 - 0.2 BTC Received from Bob via Bisq Examples of bad labels: Address #1 0.5 BTC Lastly, if you must use an exchange, try to ask for a new deposit address on each deposit. In the same way that you should never receive Bitcoin to the same address twice, you should try to avoiding sending Bitcoin to the same address twice.
5 - CoinJoin whenever possible and be patient!
The process of engaging in a CoinJoin is as simple as selecting a coin or coins to en-queue and entering your password. Once coins have en-queued for CoinJoining, you must keep your computer online and awake, as the CoinJoin process is interactive. As a coinjoin is really just many users (up to 100) en-queuing coins at the same time, it may take up to two hours for you to successfully participate in a CoinJoin and clean outputs should only be spent once the CoinJoin transaction is confirmed. For context, Wasabi currently does 18 CoinJoins a day, or roughly one every 1 hour and 20 minutes. As more users join the network, the frequency of these CoinJoins will go up. Lastly, if you are able and patient enough to re-mix your coins, please do so. Re-mixing coins is nearly free and greatly encouraged!
6 - Use separate profiles
When you put a label on an address, or ask a question on this Reddit or send coins to a merchant be wary of the profile you choose. If you can create a dummy Reddit account as opposed to an account where you may have revealed your personal details elsewhere - use that. When you spend coins from your wallet, consider what you might want to keep private from the merchant or individual you are interacting with. In the same way that reusing addresses hurts your privacy, consolidating all of your online behavior into one profile can do the same.
7 - Never merge mixed and unmixed coins, and avoid large merges of mixed coins!
The first part should be somewhat intuitive - coins in your wallet have shields (red, yellow, green and green +) and it is at a minimum important to never send non-red coins (coins with anonset > 1) with red coins (coins with anonset == 1). By merging your tainted coins with your mixed coins, you undo the privacy benefits of CoinJoins! Further, when sending mixed coins to your cold storage, make sure to send your coins in parallel. Don't merge all of your Bitcoin (more than 0.8 BTC) in a single transaction! Instead, take your time and send coins to multiple addresses belong to your cold storage over a few hours or days. If you are sending coins to an exchange, you can get the same result by requesting a brand new address to receive coins. For more information, please see the discussions here: https://www.reddit.com/WasabiWallet/comments/avxbjy/combining_mixed_coins_privacy_megathread/
8 - Avoid 3rd party servers & Buy Bitcoin P2P
Wasabi is designed to allow users to see their balances without any concern that a third party would be able to link your addresses to you, or to each other. Very few wallets can say this, but if you proceed to enter your address into a block explorer, or use a third party wallet with your keys or your hardware device - all bets are off. So if you want to check on the status of a transaction or the balance on an address, you should first: (a) Check your Wasabi Wallet (b) Check through your full node (c) Use a block explorer through Tor (e.g. Blockstream.info T address) If you think that forensics companies are not paying big money to block explorers for user information, you are wrong. Even something as simple as leaving a comment on a YouTube video or Reddit post will be scraped. More importantly, if you are using a hardware wallet, an easy way to undo the previous times you plugged in the wallet through non-private applications is to create a new account on the device with a passphrase. For example, for ledger nano s, you can do this in the device home screen > security > passphrase. Remember Commandment 2! Remember, Bitcoin is a peer-to-peer cash system, so when you have the opportunity to do so, buy your coins directly from someone you know or through a P2P market place. Not only will this benefit your privacy, it will save you on exchange fees and potential insolvency issues with the exchange you are dealing with.
9 - Run your own full node (if you can)
Wasabi will work just fine without a local full node on your device, however, if you can spare the resources on your device, running a full node will do that much more for your privacy. Local full nodes will (when running in tandem with Wasabi) be automatically used for querying blocks.
10 - Use Lightning
Wasabi is an ideal wallet for many things, but trade-offs exist with everything. If you have small amounts of un-mixed change from previous CoinJoins and you are unable to meet the requirements to engage in a COinJoin, consider using that coin to open a lightning channel. Lightning is still a project in its' early days, but the privacy topology of lightning payments is much more ideal over on-chain payments if you have the choice. Routing large amounts can be uncertain, but for small amounts the network is becoming steadily more reliable. Currently Wasabi does not support in-wallet lightning features, but it is on the road-map.
Common beginner's questions -- Sending and Receiving BTC from a BItcoin.com Wallet to my Wasabi Wallet.
I am a novice in all aspects of purchasing, anonymizing, wallet storage, wallet-to-wallet sending and receiving, etc. At this point, I have successfully purchased some BTC through a very conventional online process... paying a hefty 10% processing fee! They required full ID verification, so my fingerprints are all over the BTC that are now in my "Bitcoin.com Wallet" that resides as an app on my Mac. I want to sanitize this BTC and thought I'd be able to do so by sending it from my "Bitcoin Wallet" to my "Wasabi" wallet (Tor is running, Backend is connected, Peers: 8, Price: $6225). So I chose the Load Wallet operation in my "Wasabi" wallet and it generated an address. I thought I'd be able to "Send" all my BTC from my "Bitcoin.com Wallet" to my "Wasabi" wallet by entering the Wasabi-generated address in the "Send" screen of the "Bitcoin" Wallet, but the address seems to be basically ignored and the "Bitcoin" wallet seems to only allow me to "Transfer" BTC from one "Bitcoin" wallet to another "Bitcoin" wallet within the same wallet app on my Mac. I thought that by "Sending" the BTC from the "Bitcoin" wallet and "Receiving" it in my "Wasabi" wallet, it would be sanitized... or that I would at least be able to use CoinJoin built into Wasabi to anonymize my BTC in my Wasabi wallet. I seem to be lacking a lot of instructive and pertinent information about this whole process of purchasing and anonymizing BTC... but at this point, I'd like to start by learning how to move my "dirty" BTC from my Bitcoin wallet to my Wasabi wallet. Thanks to anyone willing to take the time to help me. I've got a lot to learn.
https://forkdrop.io and follow us on Twitter https://twitter.com/forkdrop We will be attending the Bitcoin Rodeo http://bitcoinrodeo.com/ in Calgary, Alberta, Canada on Monday and Tuesday next week. If anyone else is attending, give us a ping and we would love to meet up and say hello. Forks: 114 ( Bitcoin: 74 Altcoin: 19 Historic: 21) - Exchanges: 90 News:
Bitcoin Gold (BTG) had their hard fork to change their PoW algorithm. Is now Equihash-BTG instead of plain Equihash which is still GPU-friendly. This is to address Bitmain's ASICs for Equihash, but also the recent concerns about 51% attacks. The new algo requires 2.5 GB RAM to run efficiently. This should not affect bitcoin_fork_claimer's support for creating BTG transactions. https://bitcoingold.org/equihash-btg/
Bitcoin Interest (BCI) is reporting that they are experiencing 51% attacks. They have or will be reverting the chain 180 blocks and coordinating with the exchanges. They are preparing a new code release in the new future with a hard fork to the transaction format to fix the previously-noted replay attack issues - this will require a patch to bitcoin_fork_claimer to continue working.
Building on Bitcoin conference was this week. All great stuff, but a few recommended talks relevant to privacy/anonymity: u/nopara73's talk on ZeroLink and Wasabi Wallet: https://youtu.be/XORDEX-RrAI?t=1026 Also, Adam Gibson's talk on CoinJoin and some of the concepts in mixing and defeating chainalaysis was very informative: https://youtu.be/XORDEX-RrAI?t=23399 Giulia Fanti's presentation on Dandilion is an extremely clear explanation of the proposal and distinction from Onion routing solutions: https://youtu.be/XORDEX-RrAI?t=27278 (we haven't yet watched Day 2, I am sure there is great talks to recommend there)
BitcoinX2 (BTCX2)'s fork date came and went and the project is quiet - some people are claiming 'scam'. Will wait a little while to see what happens before moving this one to the 'Historic' section.
Removed Exvo exchange since the site is down after some drama a couple weeks where the exchange's own Twitter account was claiming the exchange's operator(s) exit scammed.
Added Altex Exchange - No KYC, deposit and trade for MoneroV (XMV)
Added HQEX exchange - No KYC, deposit and trade for EtherZero (ETZ) and Callisto (CL)
Added RightBTC exchange- No KYC, deposit and trade for Ethereum Classic (ETC), trading non-depositable future claims for Bitcoin God (GOD)
According to u/cryptosnake Bitcoin Pizza (BPA)'s nodes seem to be down. Also, their homepage now redirects to hb.top. We are tracking this one as no longer 'live', but interested to know if it comes back online.
Bitcoin takes too much time to be accepted in point-of-sale(POS) application due the requirement for the network to varify the transactions.
Dash is based on the work of Satoshi Nakamoto with built-in privacy functions.
Dash Masternode Network
Full node servers running P2P networks receieve updates and events about the network.
The new reward scheme has been proposed Microsoft Research and Bitnodes incentive program.
Nodes provide the network with the ability to synchronize and fast broadcast messages throughout the network.
Dash masternodes have high availability and provide the standard amount of service needed to the network to take part in the masternode reward program.
Masternodes are full nodes, just like the bitcoin network but the owner of the node must provide a standard of service and and a collateral to participate.
The operator must have control over 1000 DASH should be online to provide service.
Masternodes are all paid from the block reward program, 45% of all DASH is dedicated to this program.
The reward for a particular day can be calculated using the formula (n/t)rb*a Where:
n is the number of masternodes an operator controls
t is the total number of masternodes
r is the current block reward (presently averaging about 3.3 DASH)
b is blocks in an average day. For the Dash network this usually is 576.
a is the average masternode payment (45% of the average block reward)
A special algorithm is used to create a pseudo-random ordering of the masternodes.
This is done so every masternode as a random chance of being selected to verify the transactions
Let us assume the dash network has 4800 active masternodes.
Each masternode as a collateral of 1000 DASH, which means 4,800,000 DASH is collateral.
To control the Dash network an attacker would need to buy 1000 DASH on the open market. Buying this amount is almost impossible as the price would also increase linearly.
There is also the pseudo-random order generator which does not guarantee the transactions validated will be from the attackers node.
The status of the node is broadcasted to the network using protocols.
Only two messages are needed to activate your Masternode:
Masternode Announce Message
Masternode Ping Message
Other messages are proof-of-service message, PrivateSend,and InstantSend.
Masternodes are formed by having 1000 DASH in a single address in the Dash wallet and will make it capable of being propagated across the network.
A secondary private key is used henceforth for signing.
Cold mode is possible by using the secondary private key on two different machines
The “hot client”, the machine holding the 1000 DASH, signs the 1000 DASH input including the secondary key in the message.
The “Cold client” see the message which includes the secondary key and activates as a masternode.
Now the “hot client” can deactivate and leaves no possibility of an attacker gaining access to the masternode.
When a masternode is started it sends a “Masternode Announce” message to the network.Message: (1K DASH Input, Reachable IP Address, Signature, Signature Time, 1K Dash Public Key, Secondary Public Key, Donation Public Key, Donation Percentage)
After that a ping message is broadcasted proving the node is still alive. Message: (1K DASH Input, Signature (using secondary key), Signature Time, Stop)
Dash believes in a standard teustless implmentation to improve privacy.
PrivateSend is an extended version of the CoinJoin by employing a series of improvements such as decentralization, strong anonymity by using a chaining approach, denominations and passive ahead-of-time mixing.
Lets say 0.5 BTC was sent. Private send will break apart the transaction to, for example, 0.3+0.19+0.01=0.5
The more transactions going through the mixer exponentially increases the difficulty
These sessions though can be de-anonymized at any point in the future.
Using masternode Quorums, users can receive confirmations DASH instantly.
Once there is a quorum, the transaction is locked and can only be spent on that transaction. This transaction lock takes around 1-2 seconds.
This feature allows point-of-sale applications and also face-to-face transaction.
X11 hashing algorithm
Mining supply: There is a reduction of 7% of supply per year.
Will kidnapping become a problem in a Bitcoin world? Especially with this recent talk of implementing anonymous transactions? The bank and cash world, as it stands, makes it very difficult to be a kidnapper. It takes days for a wire transfer to settle. And if you ask for cash, it needs to be exchanged physically. Bitcoin solves this "problem" for ransom kidnappers. They can request money sent to an address, and never expose themselves. If we implement anonymous transactions, depending on the implementation, they can get away with anything. Is anyone worried about this?
Note: Previously the Evolution Whitepapers were linked in this section. These papers were written back in 2015 and are outdated, because Dash Evolution has seen a massive re-design and has been developed much further than those papers could have predicted. A new version will be posted here and elsewhere as soon as it is available.
"Dash rebranded from Darkcoin to distance itself from its dark history!!" -> Not at all. Nothing about its history is "dark" and more importantly this thread called "The Birth of Darkcoin" is stickied by Evan Duffield himself on the official main forum.
Why saying "Dash is a company" is false: Dash Core Inc., a company based in Scottsdale, Arizona is not the decentralized network called Dash. The network, consistent of over 4.5k globally distributed, decentralized Masternodes decided to hire and fund the company Dash Core Inc. to develop said network. This is the distinguishing property of Dash being a DAO, so it's understandable people have difficulty grasping the concept. Similarly Dash does not have a CEO, while Dash Core Inc. -obviously- has.
Dash does not and never had a "dev tax": Dash has a Treasury and its distribution is being voted on each month. Only those funds that have been approved by the Masternode network go to proposal owners. The Treasury is capped at 10% of the accumulated block reward of one month. There is no central authority non-requested or non-approved funds go to and there never has been. Those funds are simply not created. So you can have months in which only 8% of the budget is being paid out, with the remaining 2% going to nobody due to not being mined.
"B-but Evan Duffield can roll back the last 24 hours of the blockchain with the flick of a button!" Complete bullshit. The key in question refers to requiring a Masternode to re-validate its pre-existing blockchain in order to ensure it's on the right chain. Masternodes have nothing do with putting or removing transactions into or from the blockchain, only the miners can do that, thus claiming someone can "roll back the blockchain" in Dash is a malicious lie and a desperate attempt to make Dash look centralized when it's not. In short: No such button exists, ever existed or will ever exist.
The Dash community is well aware that during most of its history this project has been under attack by competitors, many of which are trying to portray Dash (among many other things) as a failure. This is oxymoronic, because nobody hates on failures, especially not for 4 successful years in a row. If you want a quick history lesson, here's a comment I made on where the Dash hate originated from back in 2014 Another, longer history lesson Remain skeptical towards sensational accusations without evidence. Our community is helpful, knowledgeable and more than happy to answer any questions, as we have done many times on this subreddit. Still, we're all only human, have limited resources and we're just one project among many (always among the top, though!). Stakeholders and investors of other projects will always have an agenda to smear what they perceive as competition (I have yet to see our community actively go after other projects, though). Just remember the Bullshit Asymmetry: "The amount of energy required to refute bullshit is at least an order of magnitude larger than to produce it." So it would be very unjust to expect a refutation on the spot all of the time. Prefer taking the initiative by asking the community directly about the claim you're confronted with. This community has proven many times to possess the integrity required to admit to technological shortcomings, but at the same time we'll never hesitate to call out illegitimate claims and accusations, of which there are many, for what they are. The most common and most empty attack is "Dash is a scam".
Dash has surpassed its all-time high price several times
Its developers are publicly known, many by full name
It's still being developed after almost 4 years with an incredible track record of under-promising and over-delivering, a game-changing roadmap & a clear vision of the future
Its technology works as advertised and remains objectively superior to Bitcoin and many other currencies
Myriads of projects copied Dash's features
Look at the wealth of in-depth information linked on this page alone. Look at all the interviews, articles, news shows, podcasts, presentations, conferences, infrastructure, the people and all the money invested into all of this: Does this all really look like a grandiose scam? Why the effort?
More importantly you have to ask the critic just this one question: Who was scammed? The answer usually consists of complete silence or attempts to change the topic. This may sound all very defensive to someone who has never experienced the kind of FUD Dash has faced over the years, but the falsehoods we've refuted above are still being perpetuated by a very lonely but also very loud minority.
Not an ICO project
Regarding Dash's finances: Despite what many people assume influenced by the ICO insanity of the recent past, Dash did not have an ICO and Dash does not depend on 3rd party funding/investors. It is self funded from the blockchain and thus an entirely independent organization that does exactly what it wants, not what any angel investors want us to do. Dash is the first currency in history to achieve that.
Quick incomplete rundown of Dash's features
In fact Dash pioneered almost every single one of its features making it one of the most prolific innovators in the cryptocurrency space. Before Dash invented them, none of these features existed:
X11: power saving hashing algorithm
Dark Gravity Wave: highly reliable difficulty adjustment
Sporks: Multi-phased forking technology avoiding hard forks during network upgrades
Masternodes: Incentivized full node infrastructure through split of mining reward
PrivateSend: protocol level coin mixing without the flaws of CoinJoin
Treasury: Self-funding by splitting of block reward
Blockchain Governance: Voting rights for those who provide our network's backbone
Evolution platform technology: Under heavy development but making rapid progress towards true digital cash so user-friendly that even your grandmother could use it
To re-iterate a previous point: Dash has been copied by several dozen other projects either completely or through selected features indicating a strong approval of its technology within the wider cryptocurrency industry. The most copied feature by far is the Masternode system and the financial self-reliance it provides.
Bata Core 17.0.15 has now been released and is available to download: https://github.com/BTA-BATA/Bataoshi/releases Or https://bata.io Bata Core 17.0 Release notes: DIP0001 activation removed due to bug causing wallet shutdown - With SegWit already implemented from original Bitcoin wallet it was just unnecessary redundancy. Core 0.17 Features: Better Coin Selection And Output Handling In straightforward terms, Core 0.17.0 is smarter about adding different transaction outputs together and managing the change output from those transactions. Easier To Create And Use New Wallets Core 0.17.0 also makes it easier to create and use new wallets. The first major wallet creation improvements date back to Bitcoin Core 0.15.0, which is when the client added the ability to create wallets that operate independently of one another. These independent wallets have their own separate bitcoin addresses and private keys, which effectively makes them two totally different wallets. Up until now, however, new wallets could only be created when starting up a new node. Scantxoutset Has Been Added Core 0.17.0 adds a new feature called Scantxoutset, which lets users quickly verify whether a new wallet already includes coins. This feature makes it easier to create independent wallets. With Scantxoutset, you can quickly determine if coins were transferred from another wallet by checking the unspent transaction output (UTXO) set. You don’t have to rescan the entire transaction history. Non-HD To HD Wallet Upgrade Bata Core has supported Hierarchical Deterministic wallet backups since Core 0.13.0. Since then, users have been able to backup multiple HD wallets with a single seed phrase (a list of words) instead of individually backing up all their private keys. There was a small problem, though: Bata Core users who upgraded their system to Bata Core 0.13.0 and newer were unable to create new HD wallets. Because non-HD and HD wallets were incompatible, it meant users were still required to back up all their private keys and were unable to use the seed phrase backup for their HD wallets. Now, with Core 0.17.0, things have changed, and these users can now upgrade to the HD format. Meanwhile, if you already have an HD wallet and are using Bata Core, you can now generate or import a new HD seed. Watch-Only Wallets Where Every Address Is A Watch Only Address Core 0.17.0 takes watch-only wallet addresses a step further than they’ve gone before. Under the old system, watch-only addresses could be used to display the balance of a wallet without actually holding the private keys. Users could easily accept payments and keep track of their funds while still storing private keys online. Core 0.17.0 takes this a step further by allowing users to create watch only wallets where every address is a watch-only address. The best way to use this system would be to keep track of funds in a hardware wallet or on a paper wallet in the form of an HD seed while using Bata Core. Blockchain Pruning Helps Users Avoid Storing All Of Blockchain Data New Bata Core users need to download and validate the complete Bata blockchain, which includes every transaction in bata’s history. There’s no getting around downloading the whole blockchain. However, thanks to the new version of Bata Core, you don’t necessarily have to store all that data permanently. A new trick in Bata Core 0.17.0 called blockchain pruning means users don’t actually have to store all this data. Blockchain pruning means nodes will automatically “forget” about older transaction data. They’ll only keep the data they need to operate securely. Pruning mode isn’t new: it’s been available via the command line for several versions now. However, Bata Core 0.17.0 has introduced a GUI blockchain pruning tool that makes it easier to access – particularly for more casual, non-technical Bata Core users. Partially Signed Bitcoin Transactions (PSBTs) Finally, Core 0.17.0 introduces BIP 174, Partially Signed Bitcoin Transactions (PSBTs), to allow users to sign a transaction partially while also adding metadata to the partially signed transaction. This metadata can be used by someone else to complete the transaction. A traditional blockchain transaction does not involve partial signatures: one user sends bitcoin to another user. The partial signature system, however, allows for more complex types of transactions, including multi-sig transactions where several users need to sign off on the transfer of funds. This partial signature system will also be used for privacy-focused CoinJoin transactions, where multiple users merge independent transactions into a single large transaction. Plus more - visit github for more info.
Maybe you're here because you've received a tip on social media, or maybe you've just been hearing a lot recently about Bitcoin and are wondering what the big deal is? The following videos are a good starting point for understanding how bitcoin works and a little bit about its long term potential:
For lots of additional video resources check out the videos wiki page or /BitcoinTV . Peer-reviewed, research papers can be found here and here. Developer resources can be found here. Lots of Bitcoin statistics can be found here.
Where can I buy bitcoins?
You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank account. A good list of exchanges sorted by region can be found on the exchanges wiki here. Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Here are a couple useful sites [bitkoin.io, preev.com] that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".
Securing your bitcoins
With bitcoin you can "be your own bank" and personally secure your bitcoins OR you can use established companies which have secured wallets where they hold the bitcoins for you and provide insurance.
If you prefer to let bitcoin banks manage your coins, try Coinbase or Circle.
If you prefer to "be your own bank" and have direct control over your coins without having to use a trusted third party, there are many software wallet options here and here. If you prefer easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor, Ledger, Case Wallet, or KeepKey is recommended.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email! 2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below.
Use ChangeTip.com (/changetip) for tipping people on Facebook, Reddit, Twitter, YouTube, Tumblr, Google+, GitHub, Slack and more! (you can even use custom monikers to tailor your tip to the discussion or add a bit of humor). Read more about ChangeTip at their reddit wiki. Go to /FreeBits to get a few bits to practice with and then tip them forward. Go to /BitTippers to play games and solve riddles to earn your bits. Don't forget your flair!
There are several benefits to accepting bitcoin as a payment option if you are a merchant;
1-3% savings over credit cards or PayPal.
No chargebacks (final settlement in 10 minutes as opposed to 3+ months with credit cards / PayPal).
Accept business from a global customer base.
Increased privacy for your customers.
The payment processor can convert 100% of the sale to the currency of your choice for deposit to your account which means there is no need to hold bitcoins and no exposure to price volatility. Alternatively, you can choose to keep a certain percentage of the sale in bitcoin if you wish to begin accumulating it.
If you are interested in accepting bitcoin as a payment method, there are several options available;
Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out. If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. You can view the global node distribution here.
Just like any other form of money, you can also earn bitcoins by being paid to do a job.
You can use Lighthouse to crowdsource fundraising initiatives with bitcoin. It's similar to Kickstarter, but without intermediaries or exorbitant fees. You can participate in project discussions at /LighthouseProjects, and watch the progress of fundraisers at lightlist.io.
Here is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
1,000 per bitcoin
SI unit for milli i.e. millilitre (mL) or millimetre (mm)
1,000,000 per bitcoin
SI unit for micro i.e microlitre (μL) or micrometre (μm)
1,000,000 per bitcoin
Colloquial "slang" term for microbitcoin
100,000,000 per bitcoin
Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:
If you want to use 'bits' exclusively, just remember that there are 100 satoshis in 1 bit, and 1 million bits in one bitcoin. For more information check out the Bitcoin units wiki. Still have questions? The friendly folks at /BitcoinBeginners would be happy to help you out, or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found here Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval. Welcome to the Bitcoin community and the new decentralized economy!
A SIMPLE GUIDE TO MIXING BITCOINS AND MAKING THEM UNTRACEABLE
A SIMPLE GUIDE TO SAFELY AND EFFECTIVELY TUMBLING (MIXING) BITCOINS
How Privacy Coins Work Bitcoin transactions are semi-anonymous: every transaction on the blockchain is broadcast publicly and visible for all eternity, but the owner of each wallet is unknown. Tying addresses to real-world identities is now relatively easy for the powers-that-be, because everyone has to cash out somewhere, and that usually involves linking bitcoin addresses to bank accounts. Privacy Tech Algorithms The three most common privacy algorithms are zk-Snarks, Coinjoin, and RingCT. The latter method is used in monero; Coinjoin features in dash and is also being trialed with bitcoin; and zk-Snarks are used by most of the Z coins including Zcash. Here’s how they work: RingCT: Monero’s ring signatures allow the sender to hide their transaction among other outputs. In addition, RingCT makes it possible to hide the amount being sent. Coupled with a stealth receiving address, this makes for an extremely discreet way of sending funds. Transparency is optional with monero, which uses an “opaque” blockchain. Coinjoin: Developed by Gregory Maxwell, Coinjoin deploys a ‘safety in numbers’ approach. When two senders despatch a transaction of an identical amount, this is converted into a joint payment. When this occurs, correlating the transaction inputs and outputs is virtually impossible. There are many variants of Coinjoin including Private Send, which is used by dash, and Coin Shuffle; Cash Shuffle is the version currently being tested with bitcoin cash. zk-Snarks: Zero-Knowledge Succinct Non-Interactive Argument of Knowledge is a technology that allows miners to verify transactions without knowing who sent or received the coins. Using a cryptographic hash, each party can prove that a certain statement is true without revealing the precise details of who sent what and where. Although most commonly associated with the Zerocoin family, zk-Snarks are also being tested with ethereum. The Main Privacy Players Zcash: Born out of the Zerocoin protocol, Zcash is basically bitcoin with the option of privacy. There’s a fixed supply of 21 million coins and despite using a public blockchain, Zcash allows for the sender, recipient, and amount being sent all to be concealed. Researchers have published evidence that suggests some Zcash transactions can be de-anonymized, though for everyday usage, Zcash should still provide enough privacy for most people. Monero: Like Zcash, monero has emerged as a viable cryptocurrency in its own right, even for individuals who aren’t interested in privacy. Its privacy tech is highly regarded and numerous deep web marketplaces accept monero. Monero usage surged in the wake of the Alphabay shutdown, after it emerged that feds were unable to determine how much XMR the site’s alleged kingpin, Alexandre Cazes, held. Dash: By market cap, dash is the biggest coin on this list. It’s not an outright privacy coin however, but does have Private Send for users who’d prefer to keep their business to themselves. Transactions are confirmed by 200 TerraHash of X11 ASIC computing power and over 4,500 servers hosted around the world. Zcoin: The other Z worth mentioning, Zcoin enables users to “mint” a coin on a public ledger so as to transform it into a private coin. This process can be repeated multiple times, allowing a coin to be sent publicly or privately as desired. Pivx: An open source project, Pivx is another community-oriented privacy coin. It uses a mixing mechanism that’s based on Coinjoin, but which operates in a decentralized manner, aided by a network of masternodes. PIVX is the first proof of stake cryptocurrency to be based on the version 0.10 or higher Bitcoin codebase, and the PoS structure utilised does away with coin age, meaning in order to get the most out of your staking you must keep your wallet open at all times, resulting in more constantly available nodes, strengthening the network. Verge: XVG is another anonymous cryptocurrency that was designed for privacy-friendly networks such as Tor and I2P. The general consensus is that verge isn’t as private as some of its competitors, so don’t trust it with your life. On the plus side, it boasts fast and low-cost transactions. Spectrecoin Native Tor Integration preserves network privacy and protects users against surveillance, by keeping traffic within the Tor network at all times. OBFS4 Bridge Support facilitates undetected use in countries that block Tor, such as China & Iran. Spectrecoin is the only privacy coin to offer this feature Deep Onion Deep Onion is a hybrid cryptocurrency that uses proof of stake (PoS) and the X13 proof of work (PoW) algorithm. It is natively integrated with the TOR network and ALL connections are made over the TOR network. Deep Onion is 90% premined, but 70% will be air-dropped to community, 20% will be used for bounties, rewards and other promotions, and about 10% will be reserved for the development team. The development team from Deep Onion focuses on creating a secure and anonymous transaction network as much possible. To achieve that they are utilizing the Tor network to connect up to. As a result your IP address is not registered anywhere when using Deep Onion. Instead of this an anonymous Tor network ID is created for you. What sets DeepOnion apart from other privacy Cryptos are its ability to adapt to market changes and constantly updating the platform. In this regard we have new features that will be realised soon in the form of DeepSend, these features will offer more anonymity and privacy operation over the TOR network which will make DeepOnion one of the most secure Private Crypto currencies in this age. However, a particular Crypto currency provides an answer to the subject of Safety and Privacy. DeepOnion is an anonymous cryptocurrency which focuses on the privacy of its users. The DeepOnion developers utilize the Tor network to enable them to meet their key objective which is security. One of the qualities of this coin that makes it attractive to users is the fact that while using it, the user’s IP address is not registered on any platform. Instead of having your IP address registered, one gets an anonymous ID created for them in the Tor network. The Tor network offers multiple levels of privacy to ensure that your location, online activities, and identity are kept entirely confidential. Tor is tightly integrated into the DeepOnion wallet, and it conceals a users identity and their online activity from any third parties by separating your identification and routing online traffic by the implementation of onion routing, which encrypts and then randomly bounces communications through a network of relays around the world. Concealing your IP address is beneficial in that you can make transactions anonymously and no transaction can be traced back to you. Well, while some may fear that this is a loophole allowing for illegal transactions, it provides security for individuals making large transfers. Additionally, the coin boasts prompt transactions, with a faster speed than Bitcoin. The DeepOnion coin is still relatively young, yet it has managed to establish a very supportive community. Like bitcoin, DeepOnion runs on a peer-to-peer network, but its use of Tor network comes in as an added advantage. When using DeepOnion, one can be sure that their internet service provider or even the government is not monitoring them. It is freedom and privacy all in one package.
Hi, so here are a few things going on; also at the end some notes about using Joinmarket in today's environment:
Just pushed a feature to joinmarket-clientservemaster : you can now send coins to (not from) bech32 segwit addresses.
I was prompted on this by user Onecoinbob, although there's a very valid discussion about whether wallets should have gone straight to bech32 addresses (instead of p2sh wrap), the reality is that some have (in particular, Electrum) and so I think it's pretty important that people can send coins there. Whether doing direct send (no coinjoin, -N 0), coinjoin, or in joinmarket-Qt you can now use bech32 addresses like "bc1qyzd2qj8tdrvyacvtknj2xav900qkr3a2xjrmg7" as valid destinations. Only master branch for now, will make a new release soon, it's a bit overdue.
Installation: a lot of work by user arubi (thanks!) on installation, you can install with ./install.sh on Linux and probably on MacOS too.
Thanks to a couple of other users (including trotski2000), we have instructions how you can install manually in docs/INSTALL.md should there be some problem with the one-step installation. Feel free to ask on github issue or IRC or here (maybe ping me) for more help on this, but note I personally don't run a MacOS machine so I will redirect you.
A reminder: there is a Qt gui for joinmarket joinmarket-qt.py in the scripts/ directory that works Taker side, including direct sending of funds.
I recently found that people don't know this exists, indeed I first created it nearly 2 years ago!.
Backend wallet refactoring by user undeath
See the PR ; this is backend stuff so little direct relevance to users; devs may be interested, it looks like a really good effort to rationalize and improve this section of the code.
Python 3 support/migration
I have started doing work on this, but it's not a small job, Joinmarket being very byte-manipulation heavy means there's quite a lot of changes to get it working on both 2 and 3. However it's really a good idea, a lot of useful libraries are migrating to/only supported on Py3. No real date or goal here.
High fees and Joinmarket
I think most users already figured this out, but as a Taker the hit on fees from using Joinmarket is far too high in almost all cases (nothing to do with coinjoin fees; just Bitcoin network fees, which the Taker pays basically all of). It is possible in the model to share these fees, by certain sets of configuration, but the system hasn't really been set up like that. Alternatively, the Taker may lowball a fee to a crazy extent and lock up the Maker coins for a long time. I'd advise against using Joinmarket in periods of very high fees like we had last week; I'd even advise against Makers running their bots to prevent newbies suffering an unexpectedly high hit on fees. But of course everyone can make their own decision. (EDIT: Forgot to add the really important thing, which is that whatever kind of transaction you're doing, including direct_send, seriously consider using the feature that setting tx_fees to any value above 144 results in using that figure as a custom fee in satoshis per kB, with a small randomization. So setting tx_fees = 300000 in the config means using a fee of 300 sat/b. Has been mentioned before but bears repeating!) For myself, I have been actively looking at a number of alternative models (see some of my blog posts at https://joinmarket.me/blog/blog for example, my CoinswapCS repo, also "Snicker"), and of course other people are looking at things too e.g. the ZeroLink project of nopara. Joinmarket as a model may also continue to be viable if the fee regime changes, and/or when new tech comes online that changes the economics (Schnorr in particular; CT itself would radically change the economics/viability of coinjoin but that is another discussion).
This is a reminder that people should be using new addresses and coinjoin (or some similar anonymity schema) for each transaction. I've been using GreenAddress.it for a while (BIP32 and 2-of-2 signing with a nlocktime backup transaction to recover my founds), but the Android app is far away from snappy. The usability is good, if you take away the fact that it's very slow, it's very easy to use and you don't have to deal with address generation. I love the idea and the concept behind it, but I feel it's still incomplete. I think it could benefit from a tool to improve anonymity, as many other wallets out there (most of them are way behind GreenAddress, with notable exceptions). I've been talking about bitcoin with non-programmers, techie-friendly people and gave them some bits so they can play around. Many have purchased more bitcoins and I can know most of their balances because of address reuse. Heck, I can generate back the tree of transactions done with my "address-reuse-avoiding wallet" using only a web-based blockchain explorer, given the fact that it's obvious that the addresses starting with "3" are mine and the ones starting with "1" are others'. I think this is a big issue. I'm not talking about "people who have something to hide", it's everybody that is compromised. If bitcoin is to become more ubiquitous, this problem has to be solved from an usability point of view. I'm eager to try coding a "anonymity check" tool to answer questions like these (even after avoiding address reuse, but before CoinJoin):
I know these addresses are John's, what are his spending habits and other possible addresses?
These are my addresses, can somebody learn what are my cold storage wallets?
This is my address that I've been foolishly reusing, what can somebody know about me?
This IP address is known to have broadcasted before most of the other nodes I'm connected to this bunch of transactions, can an identity be established?
Exchange Y sent bitcoins to my address X. With which certainty Y can profile my spending habits and know what addresses are mine?
Some points where this tool can be smart are: differentiate between big outputs and small outputs (the former are most likely to be the change funds or savings account), address reincidence, extra data like first-known-of node that relayed the transaction, detect coinjoin transactions (they are easily identifiable) etc. I'd love to have my privacy checked by a tool like this, that should work offline. Blockchain.info's "taint analysis tool" is too dumb, online, and heavy to be useful. For the paranoid ones: a three-letter-agency might already have one already.
Idea: A Bitcoin mining pool that donates percentage of revenue to developing Bitcoin infrastructure
There are a lot of initiatives in the Bitcoin space which I feel need more funding, and if I am going to support them, I would rather do so by contributing a certain amount on a regular basis as part of a larger group of people, and have a dedicated team decide on worthy projects to fund, rather than trying to find individual projects myself and put up a bounty when I find one, and hope others will join me. I see mining pools as the ideal place to pool resources for this type of collective effort. I was wondering if anything like a charitable pool existed, and if not, what others thought about the idea of creating one? What I would like to see is a pool that takes 3 percent profit for themselves, donates 5 percent to Bitcoin-related projects, and leaves 93 percent for the miner. Some initiatives I would like to see funded:
Bitcoin bounties for information leading to the arrest of scammers
Perhaps Darkwallet. Perhaps a version of Bitcoin-QT that uses CoinJoin by default.
Funding Bitcoin core developers
There's only one full-time paid developer. It'd be nice if there was more funding of the core devs given so much rests on their work __ That's all I can think of right now, but I'm certain there are many more areas where there are opportunities to fund projects that would really boost Bitcoin. Thoughts?
A SIMPLE GUIDE TO SAFELY AND EFFECTIVELY TUMBLING (MIXING) BITCOINS
"Great minds discuss ideas; average minds discuss events; small minds discuss people." can we please stop this culture of bashing or lifting cults of personality and get back to science? (807 points, 143 comments)
Just paid 23 cents on a $3.74 transaction. When does it end? $1.00 per transaction? $2? $5? I don't wanna stop using this peer to peer currency, but I'm fast being priced out of it. (896 points, 1017 comments)
340 points: Vaultoro's comment in Just paid 23 cents on a $3.74 transaction. When does it end? $1.00 per transaction? $2? $5? I don't wanna stop using this peer to peer currency, but I'm fast being priced out of it.
323 points: jamesdpitley's comment in "R.I.P. Bitcoin. It's Time to Move On"....funny billboard driving around in Miami
The past two days, my BTC was listed as unconfirmed following a CoinJoin and transfer to second wallet. Followed a recommendation about an hour ago to remove Transactions.dat in BitcoinStore > Main > Mempool and then reboot Wasabi. Wasabi Wallet, formerly known as HiddenWallet is a ZeroLink compliant Bitcoin wallet. We are dedicated to Build your own Lightning Node on a RaspberryPi with a nice Display. Version 1.5.1 with lnd 0.9.2-beta (0.10.0-beta optional) and bitcoin 0.19.1 (or litecoin 0.17.1) The RaspiBlitz is a do-it-yourself Lightning Node based on LND running together with a Bitcoin-Fullnode on a RaspberryPi 3/4 - with a Although Satoshi Nakamoto’s white paper suggests that privacy was a design goal of the Bitcoin protocol, blockchain analysis can often break users’ privacy. This is a problem. Bitcoin users might not necessarily want the world to know where they spend their money, what they earn or how much they own Coinbase is a secure platform that makes it easy to buy, sell, and store cryptocurrency like Bitcoin, Ethereum, and more. Based in the USA, Coinbase is available in over 30 countries worldwide. Step 1. Set up a wallet. Before you can purchase Bitcoin, ensure that you have set up a wallet in order to store, receive and send bitcoin. Here are some bitcoin wallets to get you started. Step 2. Purchase bitcoin. It is now time to join the cryptocurrency world and purchase your first Bitcoin.
BitcoinOfficial.org - How to create a Bitcoin Wallet online? (Instructions)
Demo of the bch-cli-wallet and Consolidating CoinJoin server. Two open source projects using an MIT license to help the Bitcoin Cash community improve fungability and privacy on the BCH network. Wasabi is an open-source, non-custodial, privacy focused Bitcoin wallet, that implements trustless coin shuffling with mathematically provable anonymity: Chaumian CoinJoin, it is the first of its ... The main advantages of BitcoinOfficial.org are: quick wallet creation, simple interface, access to private keys, the ability to buy and sell Bitcoin at the best rate right through the wallet website. https://coincrunch.in/2020/04/13/making-bitcoin-anonymous-again-with-coinjoin-using-samurai-wallet-and-whirlpool/ https://www.mycryptomixer.com/prepare » BRA... Wasabi is an open-source, non-custodial, privacy focused Bitcoin wallet, that implements trust-less coin shuffling with mathematically provable anonymity: Chaumian CoinJoin, it is the first of its ...