Nxt about to release cheap, decentralized Bitcoin [and Altcoin] Mixer

[cloudboy]

Jean Luc has enabled coin shuffling based on Tim Ruffings' method
https://bitcointalk.org/index.php?topic=1179305.msg12442042#msg12442042
http://crypsys.mmci.uni-saarland.de/projects/CoinShuffle/coinshuffle.pdf

Coin shuffling can be used to perform mixing of NXT, MS currencies (unless created as non-shuffleable), or AE assets.

https://nxtforum.org/general-discussion/current-1-7-changelog/

Using superBTC asset, which has proven itself over the past month handling a heavy volume each week, we will be able to cheaply and efficiently anonymize Bitcoin outputs.

Of course, there also exists superBTCD, superLTC, etc. so it will anonymize many gen1 coins.

This is already done, Jean Luc says they are just working on the UI to release Nxt 1.7.

[box0214]

whats the average fee now a days for a btc mixer? and how does that compare to using nxt as a mixer? what are the savings if someone wanted to mix 100BTC?

[cloudboy]

whats the average fee now a days for a btc mixer? and how does that compare to using nxt as a mixer? what are the savings if someone wanted to mix 100BTC?

According to the changelog link I posted above, shuffling requires a deposit of 1000NXT. This is about $6.5 right now.

[funnyman21]

Jean Luc has enabled coin shuffling based on Tim Ruffings' method
https://bitcointalk.org/index.php?topic=1179305.msg12442042#msg12442042
http://crypsys.mmci.uni-saarland.de/projects/CoinShuffle/coinshuffle.pdf

Coin shuffling can be used to perform mixing of NXT, MS currencies (unless created as non-shuffleable), or AE assets.

https://nxtforum.org/general-discussion/current-1-7-changelog/

Using superBTC asset, which has proven itself over the past month handling a heavy volume each week, we will be able to cheaply and efficiently anonymize Bitcoin outputs.

Of course, there also exists superBTCD, superLTC, etc. so it will anonymize many gen1 coins.

This is already done, Jean Luc says they are just working on the UI to release Nxt 1.7.

Anyone who cares about anonymity should wait for SuperNET to integrate Boolberry (CryptoNote) which could be combined with CoinShuffle btw.

Until this is done the above is nothing more than a failed attempt to pump NXT, BTCD and related SuperNET assets. You 100,000 lines of code is a big waste of time until you utilize the most anonymous coin within SuperNET.

[cloudboy]

Jean Luc has enabled coin shuffling based on Tim Ruffings' method
https://bitcointalk.org/index.php?topic=1179305.msg12442042#msg12442042
http://crypsys.mmci.uni-saarland.de/projects/CoinShuffle/coinshuffle.pdf

Coin shuffling can be used to perform mixing of NXT, MS currencies (unless created as non-shuffleable), or AE assets.

https://nxtforum.org/general-discussion/current-1-7-changelog/

Using superBTC asset, which has proven itself over the past month handling a heavy volume each week, we will be able to cheaply and efficiently anonymize Bitcoin outputs.

Of course, there also exists superBTCD, superLTC, etc. so it will anonymize many gen1 coins.

This is already done, Jean Luc says they are just working on the UI to release Nxt 1.7.

Anyone who cares about anonymity should wait for SuperNET to integrate Boolberry (CryptoNote) which could be combined with CoinShuffle btw.

Until this is done the above is nothing more than a failed attempt to pump NXT, BTCD and related SuperNET assets. You 100,000 lines of code is a big waste of time until you utilize the most anonymous coin within SuperNET.

Funny, calling something failed before it even started.

[Jean-Luc]

whats the average fee now a days for a btc mixer? and how does that compare to using nxt as a mixer? what are the savings if someone wanted to mix 100BTC?

According to the changelog link I posted above, shuffling requires a deposit of 1000NXT. This is about $6.5 right now.

The total fee for each participant in a shuffling is only 12 NXT, this is around $0.08. The 1000 NXT deposit is fully refundable at the end of the shuffling. It is there to prevent intentional sabotage of shufflings by rogue participants - when someone intentionally submits invalid data or does not complete his part, the deposit of this participant is retained. Deposits of innocent participants are refunded in such case.

The main advantage over using a centralized mixer is that there are no trusted parties, coins shuffling in Nxt is fully decentralized. No trusted special nodes, no websites that may keep logs, and of course no need to trust the other shuffling participants either.

[Jean-Luc]

You 100,000 lines of code is a big waste of time

Not sure which coin your are talking about. The implementation of coin shuffling in Nxt is in less than 4,000 lines of code, including whitespace.

[EvilDave]

He appears to be referring to James and SuperNET.....the 100,000 lines thing comes from a jl777 quote.

[patmast3r]

How do I find other participants I can mix with ? How exactly is the "matchmaking" going to work ?

[EvilDave]

First step is to wait until the 1.7 release, which will be towards the end of this year, so pretty soon.
There will be instructions.......

https://nxtforum.org/core-development-discussion/current-1-7-changelog/