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4121  Other / Beginners & Help / Re: Beginner's Guide to CoinJoin on: November 04, 2020, 02:39:04 PM
You should also research about legal concern of mixed coin/coinjoin. Some centralized exchange assume deposited Bitcoin from CoinJoin process is suspicious/malicious or forbid using Bitcoin (withdrawn from exchange) to CoinJoin service which are very ridiculous.

Few references:
https://docs.wasabiwallet.io/why-wasabi/LegalConcern.html
https://twitter.com/bittlecat/status/1207621591820951552
Thanks for the info I will surely check this out. Getting to know the legal concerns is definitely worth a read.  Smiley

But does it really matter ? I think the legal concerns would be the same for CoinJoin and Coinmixing. I remember reading a post where a particular exchange was bothered why it's user was sending his coins to a mixer after the withdrawal. It's definitely ridiculous for these exchanges to determine legal concerns on coins linked to mixing services. I know obfuscating the history of bitcoin addresses might lead to encouraging money laundering but don't people do that already with bitcoins and also with other currencies including fiat.

If this keeps on going then these central authorities will keep increasing their dominance on us eventually leading to damaging the decentralization part of bitcoin  Undecided
4122  Local / India / Re: INDIAN ECON, POLITICS, SOCIETY + BTC PRICE on: November 04, 2020, 11:29:48 AM
The chances for Biden to win are greater as Biden is ahead in the number of votes received.
In my personal opinion I would like if Biden wins the presidential elections because there were somethings that I didn't like about Trump in his course of years as the President of America.
As for the India-US ties they will only get stronger even if either of them wins the elections.
Found an article on the affects of India when Biden wins the elections.

Biden as president will be good for India, perhaps not that good for Modi

As for bitcoin, I don't think the US elections would create a major impact on bitcoin's price.
4123  Other / Beginners & Help / Re: Beginner's Guide to CoinJoin on: November 03, 2020, 05:49:45 PM
Honorable mentions :

tranthidung for
People use Coin Join to protect their privacy and / or anonymity but the level of anonymity they get at the ends will depend on 2 main factors:
  • How they mix their coin with Coin Join transaction (big or small anonymity set)
  • How they use their received coin after the Coin Join transaction (coins post-mix)

  • The larger the anonymity set, the better
  • The less times you post-mix your coins, the better.
  • In case you decide to post-mix your coins, please only mix exactly the amount of UTXOs you want to spend from, not post-mix all UTXOs you get from Coin join transaction.
  • Ideally, use each post-mix UTXO for each of your sending transaction
4124  Other / Beginners & Help / Beginner's Guide to CoinJoin on: November 03, 2020, 05:48:13 PM
Hello guys,
 
Lately, I came across  the word “CoinJoin” quite a few times and I wondered what it is. So I thought to do a little research to find out what it actually is and how it works. I read a few articles but was only able to understand the high level context of CoinJoin. So I decided to spend some time on it and understand it well enough to create a beginner’s guide so that any person who reads it knows what it is and how it works. I have tried to make this guide as simple as I can to make it beginner friendly.



Introduction


As we all know, a bitcoin transaction consumes one or more inputs and creates one or more outputs. These outputs are the UTXOs (Unspent Transaction Output) which becomes the input of the next transaction. A standard bitcoin transaction may spend many inputs to get enough value to make the intended payment and this often leads to creating ‘change’ output which goes back to the sender’s address as an unspent output. All of these are visible on the blockchain and any person can look into these transactions to find out the amount that was transferred from one address to another.
 
Bitcoin addresses are pseudonymous which means privacy can be compromised through reuse of these addresses. This is why it is advised to use a new address every time we make a new transaction. Over the years Blockchain analysis techniques have grown increasingly sophisticated and are capable of linking addresses to identities more efficiently. This is where “CoinJoin” provides a privacy efficient way of making transactions.
 
CoinJoin was first introduced by gmaxwell (Gregory Maxwell) in 2013 in his post “ CoinJoin: Bitcoin privacy for the real world “. CoinJoin doesn’t require any softfork because it does not require any changes to the bitcoin protocol.

What is CoinJoin ?


CoinJoin is a technique where multiple participants combine their coins into one large transaction consisting of multiple inputs and multiple outputs (including change outputs). Here, an observer cannot determine which output belongs to which input. This makes it difficult for anybody to determine which participant was making a particular transaction. CoinJoin can be applied many times and as many transactions can be grouped together to make it more privacy efficient.

People use Coin Join to protect their privacy and / or anonymity but the level of anonymity they get at the ends will depend on 2 main factors:

  1. How they mix their coin with Coin Join transaction (big or small anonymity set)
  2. How they use their received coin after the Coin Join transaction (coins post-mix)

  • The larger the anonymity set, the better
  • The less times you post-mix your coins, the better.
  • In case you decide to post-mix your coins, please only mix exactly the amount of UTXOs you want to spend from, not post-mix all UTXOs you get from Coin join transaction.
  • Ideally, use each post-mix UTXO for each of your sending transaction

Example



Here, the anonymity set is the size of the privacy group.  I could have explained more on the anonymity set but it will be too technical for a beginner friendly guide. The last 3 transactions are the change output from the 3 inputs. There is no way to determine which transactions from the anonymity set belongs to which input. The only thing an observer can know is that one of the output from the anonymity set is derived from one of the inputs thus increasing the privacy.
 
CoinJoin transactions

https://blockstream.info/tx/e4a789d16a24a6643dfee06e018ad27648b896daae6a3577ae0f4eddcc4d9174
https://blockstream.info/tx/ef329b3ed8e790f10f0b522346f1b3d9f1c9d45dfa5b918e92d6f0a25d91c7ce
https://blockstream.info/tx/f82206145413db5c1272d5609c88581c414815e36e400aee6410e0de9a2d46b5

 
How to get started ?

The only two production ready platforms are Wasabi wallet and Joinmarket.
Wasabi is an open-source, non-custodial, privacy-focused Bitcoin wallet for Desktop, that implements trustless CoinJoin.
JoinMarket is a CoinJoin implementation aimed at improving the privacy and fungibility of bitcoin transactions.

https://wasabiwallet.io/
https://github.com/JoinMarket-Org/joinmarket-clientserver

 
Tip

One input per bitcoin address would be efficient to use for a CoinJoin transaction as reusing the same address damages the privacy. You can consolidate all your small inputs to create one bigger input. LoyceV has created a beautiful thread for this.
[Oct 2020] Fees are low, use this opportunity to Consolidate your small inputs!
 
Sources & References

https://en.bitcoin.it/wiki/CoinJoin#:~:text=CoinJoin%20is%20a%20trustless%20method,paid%20which%20recipient%20or%20recipients.
https://academy.binance.com/en/articles/coin-mixing-and-coinjoins-explained
https://wasabiwallet.io/

 


Forgive me for any mistakes. Suggestions and feedback are welcome.

4125  Bitcoin / Bitcoin Technical Support / Re: Lost coins in stupid way on: November 02, 2020, 04:21:43 PM
Guys, I have try many of the method, but no luck, the biggest trouble is encrypted disk. all recovery programs is not working perfect with encrypted ssd. I have try to read disk sector by sector, but what I see that there are no old my file copy, so my summuary that when I have saved my txt file it was overwritten in the same sector. I am trying other methods like in CSI Smiley I will inform if some of them will work. I am decrypted my ssd copy and try to recover with all the paid/free programs, but they are not working good what I can see from the result. So i have got one software for criminalistic copy of the SSD disk, the process is very slowly, I will inform if it work for me and I will share news with community.

I have try this method also:

https://www.linuxquestions.org/questions/linux-general-1/how-to-recover-overwritten-file-774712/


OP you should try to give more information on your post like which text editor you were using, which wallet does the seed belongs to, do you have the wallet.dat with you etc..
These things would enlighten us more and will help to recover your funds quickly.

If you have the wallet installed on your system then you can simply export a new seed from it.
If you don't have the wallet in your system then this means you either manually typed the seed in a text file on your system or copied it through an external storage.
If you used an external storage to copy the seed then you can try to use recovery software on the external storage to recover the earlier version of text file.
If you copied from within your system then try to find if there are any clipboard recovery software.

4126  Bitcoin / Bitcoin Discussion / Re: How can we stop bitcoin scammers? on: November 02, 2020, 03:54:15 PM
Evolution never stops. There is no system that is impenetrable. It's just like the cops catching the criminals and then the criminals find a better way to do that crime again.
In the internet world it's the hackers and scammers who do the crime. If a technique is found to stop that scam the scammers will then find a better way to do another scam.
So eventually there won't be a system which is 100% scam proof. But yeah we can educate ourselves enough so that we understand that it's a scam/fraudulent activity.
We should keep reading about scams and crime related news to know how the scammers and criminals are doing their illegal activities to know how the process works.
The next time if a similar thing happens with you then you will atleast have the basic idea to identify what it might be.
4127  Economy / Gambling / Re: Roobet.com | Crypto’s Fastest Growing Casino 🦘 on: November 02, 2020, 03:00:37 PM
Why is there no option to gamble with Satoshis instead of dollars on Roobet ?
This thing really pisses me off these days since the price of bitcoin is increasing every week.
Lets say I had deposited amount X and now bitcoin has raised 1.3x times but since we are gambling in dollars the raise in bitcoin's price doesn't make a difference here.
Now assume I made a profit of 1.3x times the amount I deposited but if I withdraw the amount I would basically get the same amount of bitcoins I deposited.
If there would be an option to play with Satoshis instead the amount of profits would be better than the dollars.
Don't you guys think so ?

You look at the good side only which is when the price of bitcoin is increased significantly.
What if the opposite thing happen (bitcoin price drop down significantly)? Would you think the same thing?
Basically using $ give you better money management as you can control your gameplay easier without checking the bitcoin price all the time.
Of course its all about preferences, but adding the option to show the balance on the gameplay is a good suggestion so players can choose which one is better for them.
 

Yeah I know right, if the opposite would be happening then I would be getting more Satoshis instead but winning the profits in Saothis would be more thrilling instead.
At least having that option would be better since different players have different preferences.
Roobet should consider giving this option to their users to let them choose their primary currency for gambling.
4128  Bitcoin / Development & Technical Discussion / Re: Watch only address? on: November 02, 2020, 02:35:01 PM
If you just want to monitor a public key without owning it's private key then you can do it easily in Electrum wallet. It's available for Android.

Steps :

1. Download Electrum wallet from Playstore.
2. Create a new wallet.
3. Select Import using public key option.
4. Enter the public key in the input box.


Now you will be able to monitor the address on your smartphone.
You can follow the same process on Desktop too by downloading the desktop application.
4129  Economy / Gambling / Re: Roobet.com | Crypto’s Fastest Growing Casino 🦘 on: November 02, 2020, 01:43:30 PM
Why is there no option to gamble with Satoshis instead of dollars on Roobet ?
This thing really pisses me off these days since the price of bitcoin is increasing every week.
Lets say I had deposited amount X and now bitcoin has raised 1.3x times but since we are gambling in dollars the raise in bitcoin's price doesn't make a difference here.
Now assume I made a profit of 1.3x times the amount I deposited but if I withdraw the amount I would basically get the same amount of bitcoins I deposited.
If there would be an option to play with Satoshis instead the amount of profits would be better than the dollars.
Don't you guys think so ?
4130  Bitcoin / Bitcoin Discussion / Re: Has it occurred? Or still in progress on: November 01, 2020, 04:23:42 PM
On the eve of Halloween 31 October 2008 satoshi wrote
"I have been working on a electronic cash system that's fully peer- to -peer ,with no trusted third party."
Can we say that his work has been done or is still a work in progress .
" What has been the development of Bitcoin and improvement since that statement was made till now?
And will Bitcoin (satoshi dream or goal ) be fully accepted in the world as a means of payment?.
Bitcoin is open source and there are many contributors who actively work towards the development of bitcoin.
If you want to read the previous developments bitcoin had implemented then you can read the BIPs(Bitcoin Improvement Protocol)

https://github.com/bitcoin/bips


There's so much more to improvise to it and I am sure that several such developments will take place in future.
4131  Economy / Exchanges / Re: Problems Transfering BTC on: November 01, 2020, 04:18:51 PM
You can use p2p platforms like Paxful and Localbitcoins to sell your BTC and receive the amount in your bank account.
You can also use centralized exchanges like binance to sell your bitcoins. Make sure to do a research of the platform you are using to sell your bitcoins.
These platforms are well reputed and might ask for KYC before you sell your coins on it.
If you don't have any problems doing KYC then you can easily sell your bitcoins on these platforms.
4132  Bitcoin / Bitcoin Discussion / Re: How do I destroy steel phrase plates? on: November 01, 2020, 04:08:46 PM
It shouldn't be that hard to destroy steel plates.
If they are made of steel then you have many ways to destroy them. The simplest way would be to do a welding on the steel plates so that the seed phrase is gone.
You can also try to pierce holes through it using nails and hammer and make holes wherever the seed phrase is.
Also, you can rub the steel plates on some hard substance (may be a rock) and scratch the seed phrase so that it's gone from the plates.
4133  Bitcoin / Bitcoin Discussion / Re: People Say btc is Not ponzi but its look like ponzi on: November 01, 2020, 04:01:36 PM
The first point is that bitcoin is decentralized and there's nobody to control it if were a ponzi scheme.
The second point is that nobody is telling you to invest in bitcoin. People are buying it at their own will.
The third point is that bitcoin does not promise high returns and it's price increases/decreases based on the demand.
I have many other points but these 3 are sufficient to say that bitcoin cannot be classified as a ponzi and to be honest this has been proved several times earlier.
4134  Bitcoin / Bitcoin Discussion / Re: Bitcoin is not needed but only for investment purposes on: November 01, 2020, 03:18:01 PM
It actually depends from person to person and what he/she is using bitcoin for.
Many people use bitcoin to pay for the services and bitcoin makes their work easier as they don't have to pay the merchant their fiat currency doing international transfers.
Many people use bitcoin for gambling and bitcoin makes it easier to deposit and start gambling.
Many people use it for trading.
Many people use it as an investment and yeah the early investors do get their benefits and to be honest, they should get their benefits since it's because of them that the price has come to this level.
So it depends on how we are using bitcoin.
4135  Bitcoin / Bitcoin Discussion / Re: How can bitcoin be made easy? on: November 01, 2020, 06:52:15 AM
There's one thing I can say is the people who are buying/holding bitcoins would definitely know how to use the internet.
Any person who knows how to use the internet can do a search on how bitcoins work and how to make a transaction using bitcoin.
The internet contains a lot of information on how to use bitcoins while staying safe from scams and fraud.
If a person is falling prey to a scam/fraud then they are at their own fault because they should know how to stay away from fraud.
4136  Other / Archival / Re: 🔍 Roobet.com | Guess Total Wagers #64 $50 Prize | Progressive Jackpot inside 🔍 on: October 31, 2020, 12:47:58 PM
619,673,856

buzz08
4137  Economy / Gambling discussion / Re: Does Bitcoin price rise affect your gameplay? on: October 31, 2020, 12:35:20 PM
The rise in price of bitcoin does not affect the gameplay since that remains the same but it does affect the other things.
The withdrawal fees get increases since bitcoin's price increases the network congestion. The high withdrawal fees takes up a portion of our profits.
Another thing that bothers me is the amount is deposited in  dollars in the gambling site I play in.
So now even if the amount of profits are good, the amount of satoshis I would receive is less.
4138  Economy / Gambling / Re: Roobet.com | Crypto’s Fastest Growing Casino 🦘 on: October 30, 2020, 05:10:02 PM
Ow, just seen it upon checking. I'm surprised about that.
It's currently at $6.98 for BTC, and for ETH, $1.26... this is quite high compared from the past.
I wonder what happened why Roobet increased the withdrawal fee, are these fees are fixed this time?

Did the spike on mempool's size caused this spike on withdrawal fees on Roobet too?
I hope it will become much lower, $7 for me is much for small withdrawal inputs.
Yes indeed. The withdrawal fee has increased because the network is congested as of now and people are paying more than the standard transaction fees to get their transactions confirmed.
Even I went for a withdrawal today and noticed that the withdrawal fees is $7. I just closed the tab on my PC seeing the withdrawal fees  Grin
It's obvious, I can't pay a fee of $7 to withdraw $57 right. We will just have to wait until the network is less congested and the fees comes back to normal.
4139  Economy / Gambling discussion / Re: Online Gambling could be used to pay for covid problems on: October 30, 2020, 04:17:20 PM
Regulation in gambling can turn out to give positive results in three ways.

1. It can reduce the amount of black money being used for gambling.

If gambling is regulated people won't be able to use their black money for gambling since the government will keep track of income source of the money being gambled.
Hence this will reduce the black money usage for gambling. This also has a negative impact that there are many people who use black money for gambling.
So if gambling is regulated then there will be less number of people gambling and this will reduce the profits for gambling site owners.

2. It will yield more tax returns for the government.

I consider this as a good thing because gambling site owners would definitely get good profits from their site.
They shouldn't mind paying some of their profits as tax to the government. Paying taxes help to make our country's economic growth more stronger.

3. It will reduce the amount of scams in the name of gambling.

Regulation in gambling means that the government will be involved in it and the amount of scams in the name of gambling will reduce drastically since the regulatory bodies will be able to keep a track of gambling sites and may be ban those which are unauthorized. This will make the scam sites tough to survive and then they will have to wind up their business.
4140  Bitcoin / Bitcoin Discussion / Re: Something still has to be done about transaction fees! on: October 29, 2020, 04:35:10 PM
Here we go again. Bitcoin is on the rise, and even though it's up about 30% from the usual price of the recent times, the transaction fees are up 10 times. I've just sent 0.01 BTC, and the suggestion for a regular fee was $12! The priority was a couple of dollars more, and I went for it. There hasn't been such a spike since the 2017-2018 craze, but now enormous fees are apparently back, and they remind that we need a solution to the scalability issue. The LN is not inspiring, but nothing better is coming up. I think that such fees are a huge obstacle to Bitcoin adoption as money and should be considered a top priority. What do you think about the fees and the perspectives?
Completely agree with you on this. I just made an online purchase through bitcoin a few days before for price of $21 and the optimum fees displayed was about $4.
I just adjusted the fees to $0.57 and broadcasted it and since then my transaction is unconfirmed till date.
Now I am worried that my order doesn't get cancelled.  Undecided
The higher transaction fees has really become an issue and we must soon try to find a solution for the scalability issue.
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