Coinjoing at a bitcoin meetup

[calkob]

Hi all, me and a couple of bitcoiners have been considering running a coinjoin thing at our local meetup, but are wondering if it is even worth doing?  i haven't really gamed it out in my head yet, just thought I would come on here and have you guys blow holes in it quickly if it's stupid.  fire away.

roughly 10- 20 participants with 0.01 btc

[LoyceV]

Who's going to know what details in this setup?

[AB de Royse777]

It would be a nice idea as long as you have enough funds with many outputs to coinjoin. However you will need a system in place.

roughly 10- 20 participants with 0.01 btc

You mean there will be 10 to 20 people who will have their btc to provide the service? If it's 20 people the you are looking at 0.2 BTC. Chipmixer is spending more than this amount per week for their signature campaign if I am not wrong :-D

[nc50lc]

-snip- just thought I would come on here and have you guys blow holes in it quickly if it's stupid.  fire away.

Do you know those participants? Either way, it's an insane idea.
If at least one of the participants is being paid to deanonymize users, then he can create a list of actual persons who are involved in that specific Coinjoin transaction.

If it's JFF, then do not use any "stained" UTXO to be mixed and do not consider the output properly mixed.

roughly 10- 20 participants with 0.01 btc

You mean there will be 10 to 20 people who will have their btc to provide the service? If it's 20 people the you are looking at 0.2 BTC.

He's talking about the persons who will have their coins mixed together with his.

[Charles-Tim]

Is it physical meeting in a way you all participants will see each other while mixing the coin? Some can bring guns and other ammunitions. It can start well, but it might go wrong one day. I will not advice any physical meeting to be involved. Wasabi means of coinjoining is becoming centralized and now selecting specific UTXO it can coinjoin, but there are still mixers that can be used, or if going a decentralized means, exchanging bitcoin for monero and back to bitcoin in a decentralized way is not a bad idea.

[calkob]

Thanks for the replies guys.  I think I'm getting the vibe that this isn't a great idea.  it is at a physical meetup and there is prob a lot that could go wrong over time.  Appreciate the replies as always. 

[LoyceV]

it is at a physical meetup and there is prob a lot that could go wrong

You can do it with much lower amounts, say 0.0001 BTC each, as a proof of concept but without the risk.

[odolvlobo]

Thanks for the replies guys.  I think I'm getting the vibe that this isn't a great idea.  it is at a physical meetup and there is prob a lot that could go wrong over time.  Appreciate the replies as always. 

Don't be dissuaded by the more paranoid members here. You haven't even explained how you would do the coinjoin, so there is not much to comment on.