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To: "prayank@tutanota.de" <prayank@tutanota.de>,
Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
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Subject: Re: [bitcoin-dev] Post-mix(coinjoin) usage with multisig and cpfp
in bitcoin core wallet
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Good morning Prayank
> I have explained the whole idea with a proof of concept in this link:=
=C2=A0https://medium.com/@prayankgahlot/post-mix-usage-using-multisig-and-c=
pfp-e6ce1fdd57a1
The article is not clear I think, so please confirm my understanding below.
Participants:
* "Peer 3" - Payee
* "Peer 2" - Payer
* "Peer 1" - Enabling tr\*sted third party
Goal: Payer wants to pay to the payee 0.006BTC
Current Conditions:
* Payer owns 0.01 BTC in a single UTXO
* Third Party owns 0.05 BTC in a single UTXO
Protocol:
1. Payer and Third Party compute a 2-of-3 address with the public keys of =
Payer, Payee, and Third Party.
2. Payer and Third Party individually pay their owned funds to the 2-of-3 =
address.
3. After confirmation, they consume the new outputs into another transacti=
on with equal-valued outputs, hiding who owns which coins.
Is my understanding correct?
If so, I believe JoinMarket has a superior technology, which does not requi=
re a tr\*sted third party; it simply requires one or more UNtrusted third p=
arties to participate in signing a single transaction that does not require=
paying to an intermediate m-of-n address (thus all inputs are singlesig).
Basically JoinMarket allows the market taker to decide how much the equal-v=
alue outputs are, and to define the address it goes to.
The destination address need not be one the market taker controls, it can b=
e to a payee.
This technique is the only out-of-the-box way that a JoinMarket wallet can =
spend funds from a JoinMarket wallet.
JoinMarket as well already includes how to get in touch with enabling third=
parties (called "market makers").
Regards,
ZmnSCPxj
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