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Author Topic: Crowd bitcoin mixing?  (Read 102 times)
KingZee
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January 22, 2019, 09:48:39 PM
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I made a thread a while ago about investing in gambling site bankrolls : https://bitcointalk.org/index.php?topic=5068178.0

Someone bumped it just recently, and because of my new signature two cables just connected in my head and a light bulb lit up.

Has anyone tried a service to mix bitcoins using crowd funds?

Just like you would invest into a gambling website, you'd invest into the bitcoin mixer balance.
The mixer gets profit off of fees from people intending to hide their coins, and part of that fee goes to the balance of all the investors.
This not only will create a complete fuckfest of txes from multiple people & addresses, which will help make mixing the coins a lot more efficient, but at the same time split up the coins to be mixed across a whole lot of users rather than just spending them to another client wanting to mix his coins.

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January 23, 2019, 01:04:27 PM
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I actually thought this was the main driver for a Coinjoin function like Samourai or Wasabi Wallet is trying - as more users get on board, the min amount to try (currently 0.01 BTC I think) gets lower as more inputs and larger values are available.

Not that I'd advise doing this to mix (as you temporarily risk giving up your control), but depositing and then withdrawing at a high-volume exchange or gambling site also partially achieves this great mix-up.

I wonder if using smart contracts, might even get everyone's crowd-funded coins secured from centralised theft... nice idea but maybe with Lightning, you might even just see people opening lots of nodes, everyone opens a channel to them, everyone's coins are mixed and matched countless times and txs off-chain...

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January 23, 2019, 03:23:07 PM
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Has anyone tried a service to mix bitcoins using crowd funds?

Just like you would invest into a gambling website, you'd invest into the bitcoin mixer balance.
The mixer gets profit off of fees from people intending to hide their coins, and part of that fee goes to the balance of all the investors.

I am not able to find it now, but I remember I read in one of the casino site TOS that if they suspect that you are tying to use them as mixer then will just confiscate the balance.
Casino Services provider are already aware that their services can be used as mixer that's why most casino do not allow to withdraw without wagering.

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KingZee
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January 23, 2019, 04:02:22 PM
 #4

I actually thought this was the main driver for a Coinjoin function like Samourai or Wasabi Wallet is trying - as more users get on board, the min amount to try (currently 0.01 BTC I think) gets lower as more inputs and larger values are available.

Not that I'd advise doing this to mix (as you temporarily risk giving up your control), but depositing and then withdrawing at a high-volume exchange or gambling site also partially achieves this great mix-up.

I wonder if using smart contracts, might even get everyone's crowd-funded coins secured from centralised theft... nice idea but maybe with Lightning, you might even just see people opening lots of nodes, everyone opens a channel to them, everyone's coins are mixed and matched countless times and txs off-chain...

I'll need to check those wallets later. Its true that theres a risk since you're sending your coins to a centralised entity, but thats a problem thats not even solved by current mixers. Theres bound to be a point of trust somewhere along this type of transaction, using a smart contract would be possible for a simple coin mix, but I cant think of an easy way to "implement" the investment part.

Has anyone tried a service to mix bitcoins using crowd funds?

Just like you would invest into a gambling website, you'd invest into the bitcoin mixer balance.
The mixer gets profit off of fees from people intending to hide their coins, and part of that fee goes to the balance of all the investors.

I am not able to find it now, but I remember I read in one of the casino site TOS that if they suspect that you are tying to use them as mixer then will just confiscate the balance.
Casino Services provider are already aware that their services can be used as mixer that's why most casino do not allow to withdraw without wagering.

I think you misread, if you even did read my post. I dont want to use casinos to mix my coins. I want a bitcoin mixing service, to have the option to let users invest funds into its bankroll. I think I explained it pretty clearly.

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January 23, 2019, 05:27:57 PM
 #5

I think you misread, if you even did read my post. I dont want to use casinos to mix my coins. I want a bitcoin mixing service, to have the option to let users invest funds into its bankroll. I think I explained it pretty clearly.

Got you now, But I am wondering how would you identify the investor or somebody need mixing service?
I will always act as investor and withdraw my coins or investors were forced to lock the investment for at least "x" number of days. Just wondering if nobody in hurry and keep their investment for "x" days.


PS: Sorry, after reading bankroll and gambling , I really missed the gist of the OP.

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A
blockchain
based game
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A game
that recognize
your ownership
Join the
exciting game
of splinterlands











              ▄▄▄▄▄▄██████▄▄▄▄▄▄
          ▄▄██████████████████████▄▄
        ███████▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀███████
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shield132
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January 23, 2019, 08:49:23 PM
 #6

I made a thread a while ago about investing in gambling site bankrolls : https://bitcointalk.org/index.php?topic=5068178.0

Someone bumped it just recently, and because of my new signature two cables just connected in my head and a light bulb lit up.

Has anyone tried a service to mix bitcoins using crowd funds?

Just like you would invest into a gambling website, you'd invest into the bitcoin mixer balance.
The mixer gets profit off of fees from people intending to hide their coins, and part of that fee goes to the balance of all the investors.
This not only will create a complete fuckfest of txes from multiple people & addresses, which will help make mixing the coins a lot more efficient, but at the same time split up the coins to be mixed across a whole lot of users rather than just spending them to another client wanting to mix his coins.
Once that was possible on cryptomixer and maybe on bitmixer too, can't remember this last one. Haven't seen such option on another mixers. There are a lot of reasons they don't want to offer it. For example they don't want to make their "treasure" wallets available in public, I mean adresses where they save coins, cryptomixer once revealed those adresses (2000 btc owned) to DT trusted people and bitmixer's owner said that was very shit mistake, if someone knows those adresses, it makes track easier.

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