- The fail point of centralized process that bitlaudry has when they bundle the funds in the meanwhile they send out these tx bundles back to the owners
- It is the risk of cascading too much tx´s because of low cost
- By increasing the coinjoin small transactions
- The risk is related to the coinjoin tx failing, either by a DOS attack, lack of one of the signatures, etc.
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The risk is that if one party doesn’t want to sign the tx it basically results in DOS, preventing the tx from being broadcasted.
The question was about the benefits 
- What is the benefit of CoinJoin over BitLaundry, if any?
BitLaundry is centralized. You have to trust them to do according to your order. CoinJoin is decentralized. Both ends have to agree on a number of inputs and outputs to pay and spend. They have to be signed individually and joined at the end. - About halfway down, Maxwell writes: “failure (retry) risk mean that really huge joint transactions would not be wise.” Explain failure (retry) risk.
Someone can refuse to sign a valid joint transaction, or someone can spend their input out from under the joint transaction before it completes. If all the signatures don’t come in within some time limit, or a conflicting transaction is created, you can simply leave the bad parties and try again. - How can anonymity set be increased while keeping small transaction sizes?
By increasing the number of transactions. - What is the main benefit of CoinJoin over Zerocoin?
CoinJoin requires no soft fork of the Bitcoin protocol.
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- What is the benefit of CoinJoin over BitLaundry, if any?
CoinJoin is a decentralized service and BitLaundry is centralized.
- About halfway down, Maxwell writes: “failure (retry) risk mean that really huge joint transactions would not be wise.” Explain failure (retry) risk.
Because of a Denial of Service (DOS) attack or because the person non signing a transaction.
- How can anonymity set be increased while keeping small transaction sizes?
“Because these transactions are cheap, there is no limit to the number of transactions you can cascade.”
- What is the main benefit of CoinJoin over Zerocoin?
The main one is because CoinJoin can be used right now and Zerocoin requires a softfork of Bitcoin. In addition, these are a number of serious limitations:
*It uses cutting-edge cryptography which may turn out to be insecure, and which is understood by relatively few people (compared to ECDSA, for example).
*It produces large (20kbyte) signatures that would bloat the blockchain (or create risk if stuffed in external storage).
*It requires a trusted party to initiate its accumulator. If that party cheats, they can steal coin. (Perhaps fixable with more cutting-edge crypto.)
*Validation is very slow (can process about 2tx per second on a fast CPU), which is a major barrier to deployment in Bitcoin as each full node must validate every transaction.
*The large transactions and slow validation also means costly transactions, which will reduce the anonymity set size and potentially make ZC usage unavailable to random members of the public who are merely casually concerned about their privacy.
*Uses an accumulator which grows forever and has no pruning. In practice this means we’d need to switch accumulators periodically to reduce the working set size, reducing the anonymity set size. And potentially creating big UTXO bloat problems if the horizon on an accumulator isn’t set in advance.
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1)There is no third party in control of your coins with CoinJoin.
2) Someone doesn’t sign the huge transaction, or possible DOS attack
3) Increasing the number of participants, who are doing a lot of smaller transactions.
4) CoinJoin doesn’t require soft fork.
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1.) User keeps control. No third party
2.) if not everyone signs the transaction it fails
Dos Attack
3.) Increasing the number of transactions duo to cheap fees
4.) CoinJoin runs on the Blockchain and doesn’t need a technical implementation. ZeroCoin requires a soft Fork to the protocol.
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1 CoinJoin removes the risk of theft at any point.
2 The risk of a transaction failed from fully-executed due to non-complete signatures in time or conflicting transactions, and then try executing the transaction again.
3 By creating sequence of m*3 transactions which form a 3-stage switching network that permits any of m^2 final outputs to have come from any of m^2 original inputs.
4 CoinJoin has already been working since day 1 of Bitcoin; it is indistinguishable from normal Bitcoin transactions.
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- What is the benefit of CoinJoin over BitLaundry, if any?
Bitlaundry is a centralized entity while CoinJoin is a decentralized p2p between users that agrees on inputs and outputs, while the signatures, one per input, inside a transaction remain completely independent from each other, will be merged after with the signed Tx. - About halfway down, Maxwell writes: “failure (retry) risk mean that really huge joint transactions would not be wise.” Explain failure (retry) risk.
If a participant doesn’t sign a Tx or in the eventuality of DOS attack the process fail and needs to be retried leaving out the party that failed to provide the signature. - How can anonymity set be increased while keeping small transaction sizes?
because these transactions are cheap, there is no limit to the number of transactions you can cascade, so you can increase the anonymity set simply increasing participation. - What is the main benefit of CoinJoin over Zerocoin?
there is no need to softfork on the bitcoin network for it to work, and practically the anonymity set (because of the fact CJ Tx are really small) can be the same or really similar.
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One benefit of CoinJoin over BitLaundry is that it doesn’t require extra transactions and may even lower transaction fees by splitting a single transaction among multiple users.
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Increasing the number of transaction participants increases the odds of failure due to communication failure or DOS attack, because each participant relies on a separate network to participate.
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Creating a cascade of multiple transactions can increase the anonymity set.
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CoinJoin is merely another practical use of current implementation, while Zerocoin would require a softfork of current bitcoin protocol.
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- Trustless
- The risk a coin-join fails
- people who want to do a larger amount will need to do multiple small amounts, increasing the apparent anon-set
- CoinJoin possible with no change to the Bitcoin code
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1 What is the benefit of CoinJoin over BitLaundry, if any?
Bitlaundry is a centralized entity while CoinJoin is a decentralized p2p between users that agrees on inputs and outputs, while the signatures, one per input, inside a transaction remain completely independent from each other, will be merged after with the signed Tx.
2 About halfway down, Maxwell writes: “failure (retry) risk mean that really huge joint transactions would not be wise.” Explain failure (retry) risk.
If a participant doesn’t sign a Tx or in the eventuality of DOS attack the process fail and needs to be retried leaving out the party that failed to provide the signature.
3 How can anonymity set be increased while keeping small transaction sizes?
because these transactions are cheap, there is no limit to the number of transactions you can cascade, so you can increase the anonymity set simply increasing participation.
4 What is the main benefit of CoinJoin over Zerocoin?
there is no need to softfork on the bitcoin network for it to work, and practically the anonymity set (because of the fact CJ Tx are really small) can be the same or really similar.
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- What is the benefit of CoinJoin over BitLaundry, if any?
- BitLaundry is a middleman receiving payments, wich formally then belong to BitLaundry. The middleman sends the same payments out to the final recipients, however, a certain risk that someone steals coins fro the middleman is given. CoinJoin is an application which connects users who want to send a payment, prepares the transaction and let each user to sign the transaction.
- About halfway down, Maxwell writes: “failure (retry) risk mean that really huge joint transactions would not be wise.” Explain failure (retry) risk.
- The risk a transaction to fail derives from the fact that users can include false transactions to disturb the payment or users can fail to sign their transaction or use a false signature which also leads the joint transaction to fail.
- How can anonymity set be increased while keeping small transaction sizes?
- Anonymity set can be increased by increasing the number of participants.
- What is the main benefit of CoinJoin over Zerocoin?
- The implementation of ZeroCoin will require Bitcoin to soft-fork while CoinJoin works with the original Bitcoin Core.
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- I think the benefit is removing the third party from the equation.
- Someone can refuse to sign a valid joint transaction, or someone can spend their input out from under the joint transaction before it completes.
- Because these transactions are cheap, there is no limit to the number of transactions you can cascade.
- Coinjoin does not require soft forks.
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BitLaundry is a centralised third party system, while CoinJoin is a decentralised P2P system. No trust is required with CoinJoin, only agreement on inputs and outputs.
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Failure risk is the risk that the CoinJoin transaction is not completed, because of a DOS attack, or because one party does not complete/provide their signature.
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Increase the number of transactions using the CoinJoin process.
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The primary benefit is that CoinJoin transactions today already work. ZeroCoin requires a soft forking change to Bitcoin protocol.
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- What is the benefit of CoinJoin over BitLaundry, if any?
The main benefit is that CoinJoin is decentralized whilst in BitLaundry you need to send your coins to a third party and trust it will send them to the final recipient.
- About halfway down, Maxwell writes: “failure (retry) risk mean that really huge joint transactions would not be wise.” Explain failure (retry) risk.
Failure (retry) risk means when the transaction fails. In CoinJoin all input/output pair must be valid, so more users means more risk. So, transactions of high amounts are not recommended.
- How can anonymity set be increased while keeping small transaction sizes?
By increasing the number of transactions
- What is the main benefit of CoinJoin over Zerocoin?
Zerocoin requires a soft-forking change to the Bitcoin protocol, which all full nodes must adopt. CoinJoin can work immediately without the need of forking the chain.
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The benefit of coinjoin over bitlaundry is that the user is not relying on a centralised entity to make transactions happen.
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Failure retry risk is when one party doesn’t sign the TX meaning the transaction wont propagate.
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The anonimity set increases with more small TX’s
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zerocoin requires a soft fork whereas Coinjoin is native
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- Coinjoin is decentralized and a peer to peer network and Bitlaundry is a centralized third party with a single point of failure.
- when one of the two parties refuses to sign the transaction, it could mean a large sum of money is lost
- by building the coinjoin network in having more transactions and users.
- no soft fork in the BTC network
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1. What is the benefit of CoinJoin over BitLaundry, if any?
BitLaundry was a centralized service which could rug pull users.
CoinJoin requires to just have agreement among the different users participating on certain inputs and outputs and to individually and separately sign a transaction and join all participants signatures.
2. About halfway down, Maxwell writes: “failure (retry) risk mean that really huge joint transactions would not be wise.” Explain failure (retry) risk.
All participants joining transactions have to agree for CoinJoin to work. The larger the number of participants the higher the risk of users not agreeing and therefore the higher the risk of failing transactions. Users would have to try again.
3. How can anonymity set be increased while keeping small transaction sizes?
By increasing the number of transactions used on CoinJoin.
4. What is the main benefit of CoinJoin over Zerocoin?
CoinJoin does not require any change in the bitcoin protocol.
Zerocoin requires of a softfork.
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What is the benefit of CoinJoin over BitLaundry, if any? CoinJoin is decentralized, while BitLaundry is centralized. Parties using CoinJoin have to agree to inputs and then sign to pay and spend.
About halfway down, Maxwell writes: “failure (retry) risk mean that really huge joint transactions would not be wise.” Explain failure (retry) risk. If one of the participants doesn’t sign or a DOS attack occurs, the large transaction wouldn’t go through. This puts at risk all parties that signed off.
How can anonymity set be increased while keeping small transaction sizes? By increasing the number of transactions in the process.
What is the main benefit of CoinJoin over Zerocoin? CoinJoin requires no change to the Bitcoin code. ZeroCoin requires a soft fork, which could take forever for enough nodes to upgrade.
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1.) The benefit of CoinJoin over BitLaundry is that it is decentralized. BitLaundry requires an entity to hold the funds before being sent, which leaves the user’s Bitcoin subject to potential theft or loss.
2.) Failure (retry) risk is referring to the risk of anonymity failure due the smaller amount of involved parties in larger-sized transactions. Single transactions and their anonymity sets are limited to the number of parties in them, so it’s better to cascade a higher number of separate transactions to maintain privacy.
3.) The anonymity set can be increased while keeping small transaction sizes by carrying out smaller and separate transactions instead of one large transaction, for example. This increases the number of parties involved in each transaction.
4.) The main benefit of CoinJoin over Zerocoin is that Zerocoin requires a trusted party (centralized entity) to initiate the payment retrieval. If this trusted party were to cheat, they can easily steal the sender’s coins.
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