Bitcoin mixer Pre-Development discussion

[w_mix_do__]

We are a team of developer working on a Bitcoin mixer. The method is very simple. Our customers will be sending their bitcoin, we will deliver the premixed coin to the customer. The entire process will be done within three or less blocks. We will charge a small fees for our service. The newly collected bitcoin moves to a pool and once a week we coinjoin the coins. The coinjoin coins are now ready to chunk for future premixed coin.

Let us know if we will have a business potential with the concept. We also would like to discuss the fees that will be involved in the process. We don't want to charge high, we don't want to charge less too because managing a business needs to generate profit to continue it. Let us know a balanced number that will be beneficial for both of us and potential customers. 

[BenCodie]

A mixer getting feedback (and credibility) before they operate. Sounds (ww) familiar.

Let's not hype this thread up too much this time (@BlackHatcoiner I really hope to not see you blindly supporting this development from its beginning for a second time. Maybe even stay out of this one?). If anyone is planning to participate in this thread - maybe only participate like Husires has, addressing things strictly on-topic and not pre-hyping the creation. Maybe only participate if you absolutely feel the need to, so that we can be a little bit more vigilant after the mistakes made as a community with whirlwind. Just my 2 cents.

OP. Personally I think you should build your mixer in silence, go and research the information that already exists, build credibility legitimately from good service (not by yapping so much about what you're doing before you even start operating) and leave the community out of it until you have gained enough legitimate trust. I understand that you want insights and I'm sorry for the hostile approach....but a mixer came here this year and did the exact thing as you may be doing (talk talk talk talk, get credibility, launch)....they scammed not long later. This post comes from an extremely sour taste in my mouth from seeing that happen and not being able to say much because of how much of the community supported that service, then seeing this thread.

That aside. Your business model seems fine. Go build it, test it, come back when it's done - Edit: Husires has a better input than me about the business model:

You will face a liquidity problem, as you must be good at estimating the expected liquidity or have a lot of bitcoin that were mixed some time ago and not rely on deposits alone.

How will I withdraw his coins? Will you give me a private key, or give the option to withdraw to more than one address?

No one can estimate the appropriate fees until you have worked for several months. Make it free first and bear these losses. After several months, calculate the average operating costs + advertising campaigns + network fees, from them you will decide the appropriate fees and whether you will continue or not.

[Husires]

You will face a liquidity problem, as you must be good at estimating the expected liquidity or have a lot of bitcoin that were mixed some time ago and not rely on deposits alone.

How will I withdraw his coins? Will you give me a private key, or give the option to withdraw to more than one address?

No one can estimate the appropriate fees until you have worked for several months. Make it free first and bear these losses. After several months, calculate the average operating costs + advertising campaigns + network fees, from them you will decide the appropriate fees and whether you will continue or not.

[NotATether]

Also you might be the subject of hacks and/or money laundering investigations, so to protect yourself at least from the hacks, you should use reverse proxies to host the website and keep the backend servers hidden very far away, with IP addresses that nobody knows. Better to run your own full node for broadcasting transactions than to use a third party.

[Synchronice]

We are a team of developer working on a Bitcoin mixer. The method is very simple. Our customers will be sending their bitcoin, we will deliver the premixed coin to the customer. The entire process will be done within three or less blocks. We will charge a small fees for our service. The newly collected bitcoin moves to a pool and once a week we coinjoin the coins. The coinjoin coins are now ready to chunk for future premixed coin.

Let us know if we will have a business potential with the concept. We also would like to discuss the fees that will be involved in the process. We don't want to charge high, we don't want to charge less too because managing a business needs to generate profit to continue it. Let us know a balanced number that will be beneficial for both of us and potential customers. 

This is funny, pre-development discussion? About what? Fees? There is nothing innovative that you offer right now and no one here is going to tell you something innovative, that's for sure. You should offer us something innovative and then ask us to discuss about that.
You also answered your question about fees, let's give people possibility to choose fees themselves like other mixers do and even if you manage to create a good mixer, zero-fee policy will generate pretty decent profit like Chipmixer had.
Come up with an innovation, market is already saturated!

Also you might be the subject of hacks and/or money laundering investigations, so to protect yourself at least from the hacks, you should use reverse proxies to host the website and keep the backend servers hidden very far away, with IP addresses that nobody knows. Better to run your own full node for broadcasting transactions than to use a third party.

If he really needs this advice of yours, then he should never run a mixer!

[hugeblack]

It is true that the disappearance of CM has led to a vacuum in mixing services, but we have many good services that have become difficult to compete with due to their similarity and the fact that they serve the purpose well. Also, the way you ask may give a bad impression of the service you are trying to provide because it makes you appear unprofessional or that you are trying something new without You must have detailed knowledge of it.

In short, you have two options:

 - Following the same concept as CM.
 - Mimblewimble: Providing a mixing service that acts as a gateway between the Bitcoin blockchain and the Mimblewimble Blockchain protocol.

[LoyceV]

Our customers will be sending their bitcoin, we will deliver the premixed coin to the customer. The entire process will be done within three or less blocks.

That will make it very easy to link inputs and outputs. You should read Breaking Mixing Services.

Very short summary:

every other centralized mixing service I checked could be broken in a similar fashion.