Bitcoin Forum

Bitcoin => Bitcoin Discussion => Topic started by: RHavar on December 29, 2020, 04:42:49 AM



Title: Bitcoin Mixers are Obselete
Post by: RHavar on December 29, 2020, 04:42:49 AM
A week ago DrDoofenshmirtz released (https://bitcointalk.org/index.php?topic=5302025.0) an open source beta version of a "chaum bank" called moneypot (https://moneypot.com). The release has flown under the radar, but I think it's a pretty significant development.


While it's not designed for it, I think an interesting aspect is that it accidentally totally and completely obsoletes bitcoin mixers. It has all the positive aspects of a bitcoin mixer (ease of use, non-repudiation) while offer huge advantages:
* cheaper
* there's no need to trust the mixer to not record/share/save/sell the link between inputs and outputs. On moneypot the custodian literally doesn't know themselves
* it's a useful wallet in its own right
* less tainted pool of coins
* all code is opensource, even the custodian


As far as I can tell, moneypot.com is strictly better than any bitcoin mixers. I don't see a single advantage. Hence: bitcoin mixers are obselete, it offers zero advantages over a privacy wallet like moneypot and a lot of disadvantages. Anyone want to change my mind?



Disclaimer: I am emotionally invested in the project. I however have no financial interest in it, nor have any involvement with the operations or running the custodian.