How do mixing services work? What are CoinJoin transactions? How much could they improve privacy or anonymity in Bitcoin?
CORRECTION: At the start of the video, I say that Gregory Maxwell invented CoinJoin. While Maxwell did ‘coin’ the term, the mechanism of CoinJoin was discussed early on by others: https://bitcointalk.org/index.php?topic=12751.msg315793#msg315793
At 05:46, I mentioned ‘Ricochet’ as a coin mixing service. This is incorrect. Ricochet adds extra hops to your transaction (https://www.samouraiwallet.com/ricochet). I was thinking of Whirlpool, which is a ZeroLink implementation by Samourai Wallet (https://github.com/Samourai-Wallet/Whirlpool).
These questions are from the MOOC 9.4 session which took place on March 9th, 2018. Andreas is a teaching fellow with the University of Nicosia. The first course in their Master of Science in Digital Currency degree, DFIN-511: Introduction to Digital Currencies, is offered for free as an open enrollment MOOC course to anyone interested in learning about the fundamental principles.
If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop
RELATED:
Worse Than Useless: Financial Surveillance – https://youtu.be/n4F-h4xuXMk
Fungibility, privacy, anonymity – https://youtu.be/y3s8c7YDtXU
Altcoins and specialisation – https://youtu.be/b_Yhr8h6xnA
The price of losing privacy – https://youtu.be/2G8IgiLbT_4
The war on cash and crypto – https://youtu.be/BAlRKfvBnvw
MimbleWimble and Schnorr signatures – https://youtu.be/qloq75ekxv0
Atomic swaps – https://youtu.be/fNFBA2UmUmg
Decentralised exchanges with fiat – https://youtu.be/3Url8tbQEkA
Decentralised exchanges and counterparty risk – https://youtu.be/hi_jaw0dT9M
The Lightning Network – https://www.youtube.com/playlist?list=PLPQwGV1aLnTurL4wU_y3jOhBi9rrpsYyi
How do I choose a wallet? – https://youtu.be/tN6b62sEpsY
Hot vs. cold wallets – https://youtu.be/Aji_E9sw0AE
Secure, tiered storage system – https://youtu.be/uYIVuZgN95M
How do I secure my bitcoin? – https://youtu.be/vt-zXEsJ61U
HODLing and the “get free” scheme – https://youtu.be/MhOwmsW1YNI
How to get people to care about security – https://youtu.be/Ji1lS9NMz1E
Airdrop coins and privacy implications – https://youtu.be/JHRnqJJ0rhc
Bitcoin as everyday currency – https://youtu.be/xYvvSV4mjH0
Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.
Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/
He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.
THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8
[NEW] THE INTERNET OF MONEY, v2: https://www.amazon.com/Internet-Money-Andreas-M-Antonopoulos/dp/194791006X/ref=asap_bc?ie=UTF8
MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042
[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388
Subscribe to the channel to learn more about Bitcoin & open blockchains!
Music: “Unbounded” by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
source
Ricochet doesn't mix your coins, it just adds extra hops to your transaction. You're thinking of Whirlpool which is still being tested.
Are there any analytical tools to analyze the Mixing Services?
toop Peace
What are the good things and bad things that can happen to bitcoin once all 21 million bitcoin are mined? When do you think this will happen? What happens to miners and their motivation to work hard after 21 million bitcoin are already mined? If miners quit working, how does bitcoin continue to work? Thanks for all your help.
Great explanations Andreas, as always!
Hey Andreas. You are in desperate need of A) A more directional microphone and/or B) A little room treatment to keep reflections down. These videos are amazing, but sounding a little rough.
Hi guys. Sometimes when I have conversations about blockchain/crypto, I struggle explaining people why they should give it a chance and invest. Could you please let me know: (1) Is there a really good YouTube video convincing why blockchain technology will revolutionize the world? It has to be simple, clear, and short. (2) Why advancement of blockchain technology necessarily means increase of value for cryptocurrencies? Many thanks! ☺️
You are the best
Hi Andreas, this is my first ever post. I have a question: 1. Will spending BTC on Amazon really divulge our i.p. addresses and personal information for market data, as per the new patent granted Amazon this week for a procedure to do this for blockchain, and 2. Is there, in fact, Any way to use BTC without divulging this or even more data of a personal nature. Thanks
Did I miss it, or was there as usual a lot of talk about pie in the sky Bitcoin privacy future for non-nerds, and no mention of what #bisq is doing for financial privacy today?
That's the most private exchange/mixer besides FtF fiat trade, and the closest to being decentralised too.
https://bisq.network/
Could batch send, with multiple transactions pointing to many public keys owned by the same entity with randomized value, be an other way to mess up blockchain analysis ?
Shapeshift to monero.. Do 1-3 XMR TX's then shapeshift back to BTC
nice
As always nice explination sir……:-)
Sir when mastering etherium will be released………
How about tumblebit……..