Never done a coinjoin before? Start here. Make your Bitcoin more private with Wasabi Wallet. Automate everything to cold storage. Bonus: connect to your Umbrel ☂️ node to level up. Full video:

@theBTCmentor @wasabiwallet @umbrel This is for serious bitcoiners only!

@wasabiwallet @umbrel Even P2P trades on HodlHodl can fail if exchanges run KYT checks on your deposit address and flag your BTC's origin. The more btc gets recognised and mixed with the normal system the more this kind of checks gonna be performed and you cannot prove where your btc come from?

@wasabiwallet @umbrel Anytime we have to rely on anything more than just p2p cash there will always be risks and tradeoffs. That's why I also built the @BTCSatMarket in my city. @albertahodl isn't going to blink when I send him sats from a coinjoin for beef!

@wasabiwallet @umbrel Assume someone has majority KYC Bitcoin, can you use this to make everything non KYC?

No it doesn't undo the kyc (this would require selling those coins and re-buying without ID) However, it breaks the link between where your bitcoin was, and where it goes next. So in this case you may gain plausible deniability of if you still have the coins. It also helps when spending. Right now it may be possible that if you spend someone can trace those coins back to your whole stack and learn how much you have. With coinjoin, that trail becomes much more difficult to decipher and you are far less likely to reveal your holdings when using your coins.

@wasabiwallet @umbrel Thank you Ben!

@wasabiwallet @umbrel No worries!

@wasabiwallet @umbrel How does this differ from sparrows privacy feature?

@wasabiwallet @umbrel I didn't watch the video, but you should use Jam, NOT Wasabi wallet.