How to merge many small balances into one with no harm to privacy? - page 2.

LoyceV

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Quote from: adamvp on February 04, 2021, 07:29:15 AM

So I think I can try to merge it now, but how to do it better to not harm my privacy?

You can consolidate your inputs in batches: if you don't mind linking certain addresses together, or if you even have several small inputs on the same address, you can send those to another one of your addresses (with a low fee).
I've seen only one mixer that accepts very low amounts of Bitcoin. Note that this isn't an endorsement.
Another alternative would be to actually use them for payments, or send them one-by-one to a (custodial) Bitcoin Lightning Network wallet. The wallet provider will know which addresses belong to you, so it depends on who you're trying to hide it from.

ranochigo

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Quote from: NotATether on February 04, 2021, 08:06:22 AM

I'm curious about this too. Is there a menu option in Bitcoin Core or at least an RPC command that lets you toggle coinjoin in your transaction? I'm guessing that it's something that can be turned on like RBF.

Nope. It's not a protocol implementation. I think you can probably integrate it on top of Bitcoin Core though.

It works by having multiple parties spending their UTXOs in the same transaction to multiple output. It requires a coordinator (someone to collate/distribute all the parties and their information) for this to work. An example transaction would be as follows. A spending to B and C spending to D, E spending to F.

TXID:...
UTXO(0.1BTC, A) Output (B 0.1BTC)
   ->
UTXO(0.11BTC, C) Output (D 0.1BTC).

UTXO (0.22BTC, E) Output (F 0.1BTC)

   Change(C, 0.01BTC)

   Change (E, 0.12BTC)

Since B, D and F are the intended destination, there is no way to tell that A is spending to B and so on so forth.

NotATether

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Quote from: adamvp on February 04, 2021, 07:49:15 AM

I heard about CoinJoin, but never took a closer look, so thanks for tips, I have to look for coinjoin
~

I'm curious about this too. Is there a menu option in Bitcoin Core or at least an RPC command that lets you toggle coinjoin in your transaction? I'm guessing that it's something that can be turned on like RBF.

Charles-Tim

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Quote from: adamvp on February 04, 2021, 07:49:15 AM

...

You can use Chipmixer which is free to use, you can decide to pay any amount you want. You can use Wasabi wallet for CoinJoin which charges 0.003% as fee.

Check the link below for more information
2021 List Bitcoin Mixers Bitcoin Tumblers Websites

adamvp

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Quote from: Charles-Tim on February 04, 2021, 07:39:48 AM

Quote from: adamvp on February 04, 2021, 07:29:15 AM

So I think I can try to merge it now, but how to do it better to not harm my privacy?

Normally low Bitcoin amount with high input also can still be consolidated, but only advisable for high amount for subsequent fast transaction time with lower fee in the later time after consolidatiion. You can just get new address from your bitcoin wallet, then use fee customization to edit the fee to like 5 Satoshi/vbyte or lower and send the whole Bitcoin amount to the new address, the transaction can take long, but will later be confirmed after mempool is not congested.

For privacy, you need to make use of coin mixer or CoinJoin, but coin mixer will be preferable in my opinion. Or, making use of coin control if possible.

sending all from many addresses will be completely against privacy rules,
I heard about CoinJoin, but never took a closer look, so thanks for tips, I have to look for coinjoin,
cause I don't know if mixer will be good solution, first mixers are associated with dark market, illegal activity etc, secondly what I saw their fees aren't small ...

I've just found coinjoin minimal amount is 0,1 btc :|

Charles-Tim

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Quote from: adamvp on February 04, 2021, 07:29:15 AM

So I think I can try to merge it now, but how to do it better to not harm my privacy?

Normally low Bitcoin amount with high input also can still be consolidated, but only advisable for high amount for subsequent fast transaction time with lower fee in the later time after consolidatiion. You can just get new address from your bitcoin wallet, then use fee customization to edit the fee to like 5 Satoshi/vbyte or lower and send the whole Bitcoin amount to the new address, the transaction can take long, but will later be confirmed after mempool is not congested.

For privacy, you need to make use of coin mixer or CoinJoin, but coin mixer will be preferable in my opinion. Or, making use of coin control if possible as suggested by ranochigo.

ranochigo

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Quote from: adamvp on February 04, 2021, 07:29:15 AM

I have many bitcoin addresses with small balance leftovers <0.001 BTC.
Sending it as one tx will be against privacy, right?

Yes. There is no way for you to consolidate all the small UTXOs unless you spend all of them in a single transaction. If you want to have some form of privacy, you can possibly try to segregate them from each other and only spending the UTXOs that are associated with the same addresses/ a small group of addresses only.

Quote from: adamvp on February 04, 2021, 07:29:15 AM

Additionally, when I need to send bitcoin I need it to be confirmed quickly mostly, and if I want that my tx to be confirmed quickly I need to set high fee rate, and if I have many inputs this fee will be incredibly high.
So I think I can try to merge it now, but how to do it better to not harm my privacy?

That is inevitable. Consolidation transactions are best done when the fees are relatively low so that it can be confirmed sooner. If the fees are consistently high, then it'd be better for you to spend specific UTXOs for the transactions that you're making.

The only way for you to preserve your privacy, when spendlinking is inevitable is to consolidate and send them to a mixer or use CoinJoin. If not, then it'd be better for you to use each of the inputs individually.

adamvp

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I have many bitcoin addresses with small balance leftovers <0.001 BTC.
Sending it as one tx will be against privacy, right?
Additionally, when I need to send bitcoin I need it to be confirmed quickly mostly, and if I want that my tx to be confirmed quickly I need to set high fee rate, and if I have many inputs this fee will be incredibly high.
So I think I can try to merge it now, but how to do it better to not harm my privacy?

Topic: How to merge many small balances into one with no harm to privacy? - page 2. (Read 405 times)