Bitcoin Q&A: Coin selection and privacy



How do coin selection algorithms work? What is STONEWALL and Ricochet? How did Samourai become one of the most privacy-preserving wallets? How much …

25 Comments

  1. If crypto exchanges want to ban "naughty" coins however many transactions back, then it looks like those exchanges are employing the wrong kind of people, as they seem more in tune with the fiat world and its government/big corp moral policing.

  2. The ending is gold! As a trader I see that alts are actually a way to go on the next pumpfest. And I think that even if institutions dump their bitcoin it would help the retail adoption as it spreads among more people. Let it be what it was supposed to be.

  3. Samurai has really great features (best I saw so far), but wouldn't recommend to use it in current version if privacy matters: The weak point (which unfortunately more than destroys all gained privacy) is that you have to trust the servers of the operating company. The wallet is not a full Bitcoin node so it connects to a full Bitcoin node (own node remotely currently only working if your android phone has a static IP address or is in the same network). The connected node can easily find out all 100+ Bitcoin addresses in the HD wallet and knows they belong to the same entity (similar or same principle like the bloom filter leakage for SPV wallets). Although I assume that the operators don't collect these data, it could be that they sell the business tomorrow to someone doing it or a hacker/employee access data without authorisation. If central parties are involved, you don't know always who they are. Look at this privacy example:
    https://theverge.com/2018/6/27/17509444/dark-web-drug-market-money-laundering-hsi-dark-gold
    To increase your privacy you need to connect a wallet with a trusted full Bitcoin node, for example your own node.
    I'll look if the missing feature will be added in a smooth way into future releases. Then I'll be a supporter of the wallet! Anyway already today the creators have my respect for the sophisticated features!

  4. Cubits sales guy told me that their chain analysis gites back 1000 hops and that they work with the US Government to assign scores to coins. Not sure how true it is, after all he is a sales guy. ..

  5. as always, very good disection of privacy coin features! it would be great to feature some of the top privacy coins like deeponion, spectrecoin, samourai, verge, zcash, monero, etc and compare them in terms of level of security. people should be well informed because privacy coins will play a major role in crypto currency in the near future.

  6. Is a coin like Bitcoin Private a waste of time (a privacy coin)? BTCP plans on rebasing to BTC's codebase. Currently, it uses ZCL's codebase. In a few months, BTCP will be Bitcoin but with zksnarks for privacy. Should the BTCP team just push a pull request to bring this technology to Bitcoin rather than develop a new coin? Many think BTCP is a "shitcoin" due to no value returned after the fork. A rebase to BTC codebase should provide more value.

  7. WELL SAID!!! The man! Andreas once again coming at it with the wisdom greater than an owl! Andreas you are among the truly enlightened ones, Keep up your valiant work Friend!! The people deserve to know what honors you have to preach! Well done!

  8. With FIFO accounting No amount of degrees of separation matter because the first coins into an account or mixing pool are considered the first coins out. British common law has long had an answer to this dilution problem.

  9. if everyone sells btc at $20,000 in all exchanges, wouldn't that raise the value to $20,000? it's decentralized, right? it's valued $6,000+ right now because somebody is willing to sell it at that price. i guess if all of the holders don't sell below $20k, the price will be $20k. it's like a Hermes bag, what's in that bag that made it so expensive? Nothing. Just the name. They sell it $10k-$50k that's where the price where people will buy it, thus, that's the value of it.

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