Mixing bitcoins, not a service, but want to put a group of people

[oshseidel647]

Hi guys, I have doubts about using mixers because frankly I don't trust them. I don't know if they really keep records on file or not.

I was thinking of an idea and wanted to see what the interest level would be for a group of like minded people that see the value in mixing Bitcoins but doesn't want to pay or use a mixing service. We could just create a system that trades BC's with no fees.

What do you guys think? How can we make it safe/secure so no one can feel they will get cheated either?

[merelcoin]

Hi guys, I have doubts about using mixers because frankly I don't trust them. I don't know if they really keep records on file or not.

I was thinking of an idea and wanted to see what the interest level would be for a group of like minded people that see the value in mixing Bitcoins but doesn't want to pay or use a mixing service. We could just create a system that trades BC's with no fees.

What do you guys think? How can we make it safe/secure so no one can feel they will get cheated either?

I think that would be really hard.
The person holding the wallet that contains all coins that need to be "mixed" can always run away with everybody's coins.

You could reduce this risk by using multisig for the wallet holding all coins, but even then: two people might work together to rip off the rest of the group.

The only way i see this working, is if the one holding the wallet is a very (very very) trusted member of the forum. But even then, i would not trust this person as much as an established service like bitmixer.io.

[oshseidel647]

the only thing about mixer companies is how can we trust they are really not holding onto logs and that under pressure from say a government they would hand over logs and info?

have there ever been any complaints against such companies?

also what mixer companies have the best reputation out there?

[merelcoin]

the only thing about mixer companies is how can we trust they are really not holding onto logs and that under pressure from say a government they would hand over logs and info?

have there ever been any complaints against such companies?

also what mixer companies have the best reputation out there?

There's no way of 100% trusting those companies... It is very well possible that (at least some of them) are honeypots created by governement agencies, or are at least holding some logs.

However, the same can be said when a group of anonymous people pool their coins together in order to create their own "mixer"...

About the most trusted service: at the moment, only bitmixer.io springs to mind. There might be a couple others, but i don't know them by heart.

[SFR10]

Having group of people doing this is much more riskier than a brand or organization doing this. It's security could never be in a satisfaction level like what merelcoin sited. Regarding the logs, most mixer companies have this particular issue on their faqs tab and say if they keep logs or not. Personally I haven't seen a complaints against such companies (yet). Regarding which one's have the best reputation here, I have to say, obviously bitmixer but there's also a new one called cryptomixer, in which many users in this forum (including me), tried it in beta and even though it had a small glitch in terms of live updating of the situation, it did the job done.