multicripto on Nostr: It's great that you brought up the size of the UTXOs. When you send just 2 UTXOs to ...
It's great that you brought up the size of the UTXOs. When you send just 2 UTXOs to the wallet for a CoinJoin, you often end up with nearly 20 mixed UTXOs, most of which are of low value.
Consolidating all your coins after a CoinJoin can negate any benefits gained from the process. I suspect that many people are doing this.
Summary:
- You obtain many small UTXOs.
- Many users will consolidate their coins into a hardware wallet (HW).
- When using the CoinJoin option directly on the HW, you don't know how much will obtain or how many UTXOs you will receive.
- You could always be mixing with the same users, as there is no need for new incoming liquidity to start a CoinJoin.
- Efficiency is low: sending two UTXOs can result in receiving almost 20, leading to higher future spending.
- Being a free service, you are not protected against Sybil attacks.
Consolidating all your coins after a CoinJoin can negate any benefits gained from the process. I suspect that many people are doing this.
Summary:
- You obtain many small UTXOs.
- Many users will consolidate their coins into a hardware wallet (HW).
- When using the CoinJoin option directly on the HW, you don't know how much will obtain or how many UTXOs you will receive.
- You could always be mixing with the same users, as there is no need for new incoming liquidity to start a CoinJoin.
- Efficiency is low: sending two UTXOs can result in receiving almost 20, leading to higher future spending.
- Being a free service, you are not protected against Sybil attacks.