[ANN] Joinmarket - Coinjoin that people will actually use - page 7.

belcher

sr. member

Activity: 261

Merit: 518

There is this script I've been working on that works out your historical effective interest rate.
https://github.com/JoinMarket-Org/joinmarket/pull/484

Me and some people who've been running for a long time get a value of about 0.7% per annum, but people who started more recently (presumably when transaction volume rose) report values of 3% or so. Also that script has bugs I can't seem to figure out so the real values might be different.

But yes if you want a get-rich-quick scheme of 100% earned per week guaranteed Wink

, then JoinMarket is not for you.

wormat22

full member

Activity: 224

Merit: 100

Quote from: Sukrim on March 31, 2016, 04:56:03 AM

You have to decide on prices and compete with others on the market.

Generally for me it is too low, but higher usage (more people mixing coins) might drive it up enough to be worth considering putting BTC in a hot wallet.

How low is low?

Sukrim

legendary

Activity: 2618

Merit: 1006

You have to decide on prices and compete with others on the market.

Generally for me it is too low, but higher usage (more people mixing coins) might drive it up enough to be worth considering putting BTC in a hot wallet.

wormat22

full member

Activity: 224

Merit: 100

What's the ROI generally on coins held in this wallet if you use the yield generator?

King Buzz

member

Activity: 102

Merit: 10

love life...

looking fine and dandy... will follow.. :}

Adlai

newbie

Activity: 42

Merit: 0

Quote from: ilpirata79 on March 21, 2016, 04:16:07 PM

How does this compare with darkwallet?

It's not possible to "invest" in DarkWallet.

JoinMarket lets you invest your held coins in a wallet which performs coinjoins with those who are willing to compensate you for the risk of using a hot wallet.

ilpirata79

sr. member

Activity: 353

Merit: 253

How does this compare with darkwallet?

belcher

sr. member

Activity: 261

Merit: 518

If you use the tor hidden service 6dvj6v5imhny3anf.onion then please change to use port 6698.

belcher

sr. member

Activity: 261

Merit: 518

Please complete this questionnaire on how you use JoinMarket. (Should take only 60 seconds)

http://surveynuts.com/surveys/take?id=57841&c=716997053JRPF

waxwing

sr. member

Activity: 469

Merit: 253

JoinmarketQt updated to reflect the above: https://github.com/JoinMarket-Org/JMBinary/releases/tag/v3-0.1.3

belcher

sr. member

Activity: 261

Merit: 518

Do not make any coinjoin transactions if you're running sendpayment.py or tumbler.py. Your coins are at risk if you do. Please update to the newest release v0.1.3

Malte discovered a bug where a race condition can be used by market makers to take more bitcoins in fees than previously advertised. The maker does not know exactly how much to coins the taker has, so its unlikely that all coins would be lost, but it's still a very serious bug that requires takers to update.

See the release notes here: https://github.com/JoinMarket-Org/joinmarket/blob/master/doc/release-notes.md

Here is the fix commit, it makes the orderbook database only be queried once instead of twice: https://github.com/JoinMarket-Org/joinmarket/commit/508d65f9a9c3f7ad7c542e11d19148c91b89e943

Let us know if there are any problems.

Malte has shown ethical behavior in telling me about this bug in private and giving time for it to be fixed. Ethical behavour should be rewarded, so for that reason I post his donation address here 1Gs6tTFQgWLngps5kfPg6TKoPfGA4GXdXg.

waxwing

sr. member

Activity: 469

Merit: 253

New GUI tool, walkthrough at: https://github.com/AdamISZ/JMBinary/#walkthrough

Some extra comments on reddit: https://www.reddit.com/r/joinmarket/comments/4337fc/new_gui_qt_app_for_joinmarket_doing_sendpayment/

belcher

sr. member

Activity: 261

Merit: 518

Fairly serious bug that can crash all bots. Alert issued. Please update to v0.1.2

raedah discovered a bug that causes all bots in the channel to crash. It's quite a serious DOS. Anybody can shut down the market at any time. No money is at risk but we all need to update.

Here is the technical discussion on github. https://github.com/JoinMarket-Org/joinmarket/issues/400

See the release notes here: https://github.com/JoinMarket-Org/joinmarket/blob/master/doc/release-notes.md

Let us know if there are any problems.

Adlai

newbie

Activity: 42

Merit: 0

Quote from: Financisto on December 29, 2015, 11:57:21 PM

After beta period, Is the code/protocol for JoinMarket (I didn't review it) gonna be ready for scalability and adoption/mixing of ('most liquid') altcoins like Litecoin?

There's no beta, JoinMarket works today.
It should work on any blockchain that is supported by libsecp256k1 or pybitcointools, and has a bitcoin-core-like API
I didn't review the code either, it's a horrible mess. Maybe you can clean it up while/insteadof porting it to your shitcoin of choice.

Financisto

hero member

Activity: 630

Merit: 767

BTC⇆⚡⇄BTC

A curiosity:

After beta period, Is the code/protocol for JoinMarket (I didn't review it) gonna be ready for scalability and adoption/mixing of ('most liquid') altcoins like Litecoin?

CoinBoerse.com

sr. member

Activity: 277

Merit: 250

Man this looks great, I am going to give it a try.

elm

legendary

Activity: 1050

Merit: 1000

Quote from: Anduck on December 21, 2015, 04:30:14 PM

Quote from: elm on December 21, 2015, 11:03:40 AM

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

Anduck

legendary

Activity: 1511

Merit: 1072

quack

Quote from: elm on December 21, 2015, 11:03:40 AM

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

legendary

Activity: 1050

Merit: 1000

Quote from: Adlai on December 21, 2015, 09:32:07 AM

Quote from: elm on December 21, 2015, 06:41:46 AM

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

Adlai

newbie

Activity: 42

Merit: 0

Quote from: elm on December 21, 2015, 06:41:46 AM

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.

Topic: [ANN] Joinmarket - Coinjoin that people will actually use - page 7. (Read 84864 times)