[ANN] Joinmarket - Coinjoin that people will actually use

[dooglus]

Does the bitoind rpc option work with an encrypted wallet?

Yes. You don't even need to unlock it. I suspect it would also work with '-disablewallet', since JoinMarket keeps its coins in its own HD wallet.

[tailsjoin]

Wallet's needed for importing the addresses as watching only. Otherwise we could be using pruned nodes already. See here: https://bitcointalk.org/index.php?topic=1169146.0;topicseen

[cysive]

Does the bitoind rpc option work with an encrypted wallet?

Yes. You don't even need to unlock it. I suspect it would also work with '-disablewallet', since JoinMarket keeps its coins in its own HD wallet.

 

Okay, I am not getting this message

Code:

Running / Checking it works
$ python wallet-tool.py wallet.json
First time using a new wallet requires several addresses to be imported. JoinMarket will then exit with the following message:

[2015/03/31 21:58:24] importing 80 addresses into account joinmarket-wallet-2734ec
now restart bitcoind with -rescan

I just get this:

Code:

D:\joinmarket>python wallet-tool.py wallet.json
Enter wallet decryption passphrase:
[2015/11/01 19:40:08] downloading wallet history
[2015/11/01 19:40:37] blockr sync_unspent took 10.743999958sec
mixing depth 0 m/0/0/
 receive addresses m/0/0/0/
  m/0/0/0/000 12mrjH24YqZ8XbkeSAhx2fNWktWJnLdt37  new 0.00000000 btc
  m/0/0/0/001 16NuuPVLQSMYKHghdzUPyP9hoJoBGXS6mz  new 0.00000000 btc
  m/0/0/0/002 15ADNaJS8FAbSnZCLMWNhFUkTkqoPQsmcw  new 0.00000000 btc
  m/0/0/0/003 1Gr9ScMHDCypHtm6s4cefJV5X86ZYp6JPY  new 0.00000000 btc
  m/0/0/0/004 1Gondqtjtnr6qnM1B95sTzB8e2bZVCScro  new 0.00000000 btc
  m/0/0/0/005 1Q6WmdbtzUL8WUSfEoQZMajvpqzLEcTLPk  new 0.00000000 btc
 change addresses m/0/0/1/
for mixdepth=0 balance=0.00000000btc
mixing depth 1 m/0/1/
 receive addresses m/0/1/0/
  m/0/1/0/000 1JrVNYKsWQQiJzHC22uTtLWmCCvpUep1yB  new 0.00000000 btc
  m/0/1/0/001 173ZLvNQ9esS7Ddkfo3NtHKGQjTETZzw8P  new 0.00000000 btc
  m/0/1/0/002 15o5Ak3kWcwy28A7NpJtcqJPzJmaibSKaY  new 0.00000000 btc
  m/0/1/0/003 1JGEtau4FUeih8MfVJYG87mA5PJWezEf6Y  new 0.00000000 btc
  m/0/1/0/004 17LyAfi1u6i5XqrFziooWbZeKfaKW4WCy9  new 0.00000000 btc
  m/0/1/0/005 1JBwG8mzSKyfxFz2iTKzTyzH8NzL9wWsir  new 0.00000000 btc
 change addresses m/0/1/1/
for mixdepth=1 balance=0.00000000btc
mixing depth 2 m/0/2/
 receive addresses m/0/2/0/
  m/0/2/0/000 1Q7bSxYrfGBUEbqsbhnvUiYu4o4ZGShxSm  new 0.00000000 btc
  m/0/2/0/001 1DjDQtxRZwRQVKvu5MfTuvoMD6dgYFqBky  new 0.00000000 btc
  m/0/2/0/002 1FUJF3RiBKKxq8AhNXukpJj2YMqWBazuz4  new 0.00000000 btc
  m/0/2/0/003 1JEDRBJDeKEA37cUVX1rdv5WAo8DG2PXoX  new 0.00000000 btc
  m/0/2/0/004 1MVQpC7ETqEXakopPF7otkpEfk26UskS2e  new 0.00000000 btc
  m/0/2/0/005 15ybA3aCJwh585nYZCoCQz9ASgPCJ6W3pk  new 0.00000000 btc
 change addresses m/0/2/1/
for mixdepth=2 balance=0.00000000btc
mixing depth 3 m/0/3/
 receive addresses m/0/3/0/
  m/0/3/0/000 13zGDXvLA7sSZHB5JksaMtbJHBWeyUQ6Qa  new 0.00000000 btc
  m/0/3/0/001 16Gc9TtTDJaY3Y2Mdw6UBjeVkDnNQBfWPc  new 0.00000000 btc
  m/0/3/0/002 1Ggm6LHv64aKmA6qoG58uxFCY4jnXWetEt  new 0.00000000 btc
  m/0/3/0/003 14C3uXaYReii7Fi4qMw4QfQ7iZRDUzEenZ  new 0.00000000 btc
  m/0/3/0/004 1JgSrLXZhDHWH8J4ZeqTdxrGWcVkHyVCdi  new 0.00000000 btc
  m/0/3/0/005 1KrhmczooTNSwai2c75fTFn5nZo9ioLJgv  new 0.00000000 btc
 change addresses m/0/3/1/
for mixdepth=3 balance=0.00000000btc
mixing depth 4 m/0/4/
 receive addresses m/0/4/0/
  m/0/4/0/000 15fKxHNATF2pBNAqZJHvEQjMxctrfWJuKD  new 0.00000000 btc
  m/0/4/0/001 1KBNnotK5EZdRZrbyPeR1xsYFYvvs9Uu1k  new 0.00000000 btc
  m/0/4/0/002 1BpKQb7PB84WmG2U9esyvpLam38SfmU52t  new 0.00000000 btc
  m/0/4/0/003 17xNQyQicwTMKHK8e3E65vy2uUhDnxRZyW  new 0.00000000 btc
  m/0/4/0/004 1DbKHu96ZkjRL4cNfMYuD8m5tgoQy1zSMd  new 0.00000000 btc
  m/0/4/0/005 1KwZYTuTzLoS6n6Z6Uxymfnvm5GpaErmZs  new 0.00000000 btc
 change addresses m/0/4/1/
for mixdepth=4 balance=0.00000000btc
total balance = 0.00000000btc

My bitcoin.conf

Code:

server=1
rpcuser=user
rpcpassword=password

proxy=127.0.0.1:9050


# Joinmarket
walletnotify=curl -sI --connect-timeout 1 http://localhost:62602/walletnotify?%s
alertnotify=curl -sI --connect-timeout 1 http://localhost:62602/alertnotify?%s

My cfg

Code:

#for instructions on bitcoin-rpc read https://github.com/chris-belcher/joinmarket/wiki/Running-JoinMarket-with-Bitcoin-Core-full-node 
network = mainnet
rpc_host = localhost
rpc_port = 8332
rpc_user = user
rpc_password = password

[MESSAGING]
host = irc.cyberguerrilla.org
channel = joinmarket-pit
port = 6697
usessl = true
socks5 = true
socks5_host = localhost
socks5_port = 9050
#for tor
#host = 6dvj6v5imhny3anf.onion
#port = 6697
#usessl = true
#socks5 = true
maker_timeout_sec = 30

[POLICY]
# for dust sweeping, try merge_algorithm = gradual
# for more rapid dust sweeping, try merge_algorithm = greedy
# for most rapid dust sweeping, try merge_algorithm = greediest
# but don't forget to bump your miner fees!
merge_algorithm = default

[tailsjoin]

You need this at the top of your config:

Code:

[BLOCKCHAIN]
blockchain_source = bitcoin-rpc

Then you need to input your rpc user and pass in the correct spots of the file. Also I see you have "socks5=true", you should comment the line for the clearnet irc channel and uncomment the hidden service.

If you want to spend from your bitcoin core wallet then you need to use "--rpcwallet". Check the "--help" menu.

Here's a sample of my config:

Code:

[BLOCKCHAIN]
blockchain_source = bitcoin-rpc
# blockchain_source options: blockr, bitcoin-rpc, json-rpc, regtest
network = mainnet
rpc_host = 127.0.0.1
rpc_port = 8332
rpc_user = redacted
rpc_password = redacted

[MESSAGING]
#host = irc.cyberguerrilla.org
channel = joinmarket-pit
port = 6697
usessl = true
socks5 = true
socks5_host = 127.0.0.1
socks5_port = 9050
# for tor
host = 6dvj6v5imhny3anf.onion
#host = a2jutl5hpza43yog.onion
maker_timeout_sec = 90

[POLICY]
# merge_algorithm = greediest, greedy, gradual, default
merge_algorithm = default

[cysive]

You need this at the top of your config:

Code:

[BLOCKCHAIN]
blockchain_source = bitcoin-rpc

Ty. I skimmed right over that. I was just looking at the highlighted part after that. (In the wiki)

-C

[waxwing]

As of now, the use of libsecp256k1 has been merged into the latest version of the project.

Some notes:
1/ there's a big speedup of wallet access; it now takes basically no time to generate the list of addresses (there can still be slight delay if you access blockr to get balances, of course)
2/ hopefully this dramatically improves the safety of the code that does elliptic curve operations and generates and verifies bitcoin signatures (that's the main purpose, actually).
3/ A side-issue but very practically important: installing the project now consists mainly in running the script install.sh, if you are working on Ubuntu or Debian (including TAILS). Reports on other distros welcome. If on Windows, it shouldn't be enormously more problematic; I will update the wiki article about it tomorrow. Big thanks to arubi/@fivepiece on github for working on this part.
4/ There are also now binaries that you can run, instead of installing all the code and dependencies. They can be found in https://github.com/AdamISZ/JMBinary . Warning: this is experimental and has only been lightly tested. I highly doubt that there's some loss of funds risk here, but equally I can't promise anything about functionality. All I know is from my testing, it seems to work fine (and gains the same performance speedup as above). Read the notes in the README there. I will put pgp signatures on these files as a priority, although that of course means trusting me; you are most welcome not to use them

There are some other minor changes that don't really impact users (testing).

I've been running this code myself in the live pit for a couple of weeks, and it seems to be working well.

[waxwing]

Due to several reports of either difficulties installing or not liking the install process, this (secp256k1 update, see the immediately previous post) has been removed from the master branch.

Anyone who has already started using it, don't worry, it's not a big deal either way. There is no problem with the code, just the installation. The minimum hassle will be to `git pull` again now, and it will revert back to the previous version.

Edit: branch is at https://github.com/chris-belcher/joinmarket/tree/secp256k1

We'd appreciate any help or suggestions on installation process improvement. I had thought that the installation was basically fully working for Linux and was going to refine it a bit for Windows, but it seems I was wrong.

Sorry!

[giszmo]

I had probelms with secp256k1 but after resolving them and having merged the master with my changes, I'm not happy about the revert, so I'd love to have a branch to follow for my local changes. Any estimates on how likely it will cause problems to base my work (a coinjoin proxy server) on that branch rather than the reverted master?

[waxwing]

I had probelms with secp256k1 but after resolving them and having merged the master with my changes, I'm not happy about the revert, so I'd love to have a branch to follow for my local changes. Any estimates on how likely it will cause problems to base my work (a coinjoin proxy server) on that branch rather than the reverted master?

Sorry for the mess. It's difficult to say, it shouldn't be a huge disaster from your end whether you work off one or the other. Focused on firefighting at the moment (our friendly spammer); would like to help you more.

[waxwing]

https://www.reddit.com/r/joinmarket/comments/3tf950/a_tip_for_temporary_spam_blocking_for_yield/

dropping it here in case it helps anyone

[waxwing]

As above

https://www.reddit.com/r/joinmarket/comments/3wovqc/fee_handling_new_default_immediately_and_dynamic/

[Adlai]

It's always been the case that yield generators using Tor should connect to CGAN directly, rather than using the hidden service. Tor hidden services provide privacy for the server, which is irrelevant in our case: yield generators are still IRC clients, connecting to a server with known identity. Using the hidden service also incurs higher latency, as it requires a larger number of Tor circuits.

There's a PR open which will ignore multiple liquidity offers from the same hostmask. Roughly speaking, the probability weighing for the hidden service will be shared between all liquidity connecting to it. Please do the profitable thing and move your liquidity to direct connections.

tl;dr: Yield generators can use Tor, but should not use the hidden service.

[tailsjoin]

It's always been the case that yield generators using Tor should connect to CGAN directly, rather than using the hidden service. Tor hidden services provide privacy for the server, which is irrelevant in our case: yield generators are still IRC clients, connecting to a server with known identity. Using the hidden service also incurs higher latency, as it requires a larger number of Tor circuits.

There's a PR open which will ignore multiple liquidity offers from the same hostmask. Roughly speaking, the probability weighing for the hidden service will be shared between all liquidity connecting to it. Please do the profitable thing and move your liquidity to direct connections.

tl;dr: Yield generators can use Tor, but should not use the hidden service.

This is fucking bullshit. Fuck this project, you are all a bunch of idiots without a shred of common sense amongst you. Good fucking bye.

[Adlai]

It's always been the case that yield generators using Tor should connect to CGAN directly, rather than using the hidden service. Tor hidden services provide privacy for the server, which is irrelevant in our case: yield generators are still IRC clients, connecting to a server with known identity. Using the hidden service also incurs higher latency, as it requires a larger number of Tor circuits.

This is fucking bullshit. Fuck this project, you are all a bunch of idiots without a shred of common sense amongst you. Good fucking bye.

Please aim your rhetoric at ideas rather than personalities.

Why do you think we should encourage people to use the hidden service?

[Anduck]

This is fucking bullshit. Fuck this project, you are all a bunch of idiots without a shred of common sense amongst you. Good fucking bye.

I thought you're reasonable. Anyway, what is fucking bullshit? That you can use Tor wisely and someone instructs you how it works?

[elm]

could someone who is using coinjoin maker option explain ELI5 how to do it and how much they can earn? thank you

[Adlai]

could someone who is using coinjoin maker option explain ELI5 how to do it and how much they can earn? thank you

ELI5: You read the fine wiki and follow the instructions step by step. You may find the TailsJoin Installation Guide clearer for the first steps, although it doesn't cover the yield generator.

As far as earnings go, the current situation suggests that you'll earn roughly the same amount as you'll spend on transaction fees. If you provide liquidity perpetually without ever initiating transactions yourself, you'll be lucky to net a single percent gain after a year.

Disclaimer: this back-of-the-envelope calculation was performed on a virtual envelope using invisible ink. I suggest you run a yield generator for a couple weeks and extrapolate from your own experience.

[elm]

could someone who is using coinjoin maker option explain ELI5 how to do it and how much they can earn? thank you

ELI5: You read the fine wiki and follow the instructions step by step. You may find the TailsJoin Installation Guide clearer for the first steps, although it doesn't cover the yield generator.

As far as earnings go, the current situation suggests that you'll earn roughly the same amount as you'll spend on transaction fees. If you provide liquidity perpetually without ever initiating transactions yourself, you'll be lucky to net a single percent gain after a year.

Disclaimer: this back-of-the-envelope calculation was performed on a virtual envelope using invisible ink. I suggest you run a yield generator for a couple weeks and extrapolate from your own experience.

thanks a lot for taking the time to give this explanation. 1% after a year does not sound very attractive IMO

[Anduck]

thanks a lot for taking the time to give this explanation. 1% after a year does not sound very attractive IMO

Well.. Note that you don't have to let others handle your bitcoins. This means you don't risk of some service running away with your money. Top 3 risks I can think of right now with Joinmarket are these, not in any particular order:

1. Yield generators wallet must be kept on online machine, as the bot needs to (or may need to) access it frequently. You could of course have yourself between the bot and the wallet but I guess that's hardly worth for the 1% gains per year. Especially when coinjoiners will not accept too long delays from yield generators.

2. Code errors. There might be a bug which could cause coin loss. After all the program is interacting with the Internet and complete strangers in there.

3. Regulation. Some goverments could rule that running yield generator is illegal as it attempts to hide the traces of the money flow. One could use Tor or such, though.

You don't need to trust some 3rd party service and their wallet management here to gain that 1%. Using some margin etc. services may get you a lot better interest but holding gets you 0%.

[elm]

thanks a lot for taking the time to give this explanation. 1% after a year does not sound very attractive IMO

Well.. Note that you don't have to let others handle your bitcoins. This means you don't risk of some service running away with your money. Top 3 risks I can think of right now with Joinmarket are these, not in any particular order:

1. Yield generators wallet must be kept on online machine, as the bot needs to (or may need to) access it frequently. You could of course have yourself between the bot and the wallet but I guess that's hardly worth for the 1% gains per year. Especially when coinjoiners will not accept too long delays from yield generators.

2. Code errors. There might be a bug which could cause coin loss. After all the program is interacting with the Internet and complete strangers in there.

3. Regulation. Some goverments could rule that running yield generator is illegal as it attempts to hide the traces of the money flow. One could use Tor or such, though.

You don't need to trust some 3rd party service and their wallet management here to gain that 1%. Using some margin etc. services may get you a lot better interest but holding gets you 0%.

I like the idea of coinjoin. the top 3 risks you explained  sound very possible and risky to me

thank you for your opinion