Thread by @econoalchemist

1/11 For CoinJoin Day, I wanted to try it out. Here is a thread on why Whirlpools are important, what to avoid, & my experience with @SamouraiWallet

This wallet installs like most others, you'll need to write down your mnemonic phrase, set up a pin, ect.

2/11 The @SamouraiWallet mobile app on Android is full of features, easy to use, & functions well. Overall, I really liked the app which I downloaded specifically for the Whirlpool feature. The only issue was connecting my own node, app kept crashing, but it's early access NBD!

3/11 After making your initial deposit into your @SamouraiWallet you can select the Whirlpool icon, Mix UTXOs, & select which UTXOs to mix.

4/11 Then you can select the fee rate & liquidity pool. The liquidity pool size is what determines the amount in the UTXOs you'll be getting back. i.e, 0.01 pool give you UTXOs with 0.01 BTC available each.

5/11 You'll get a warning about Toxic Change, this is important. Your outputs will all be an even 0.01 BTC. If you Whirlpooled 0.029 BTC you have to choose what to do with the 0.009 in change. Make it un-spendable to protect your privacy or spendable to dox yourself.

6/11 Whirlpooling is important because let's say an adversary knew I owned input #1 (0.00140586) Then they know I sent my output to address ending in 22ep. But from there, when we Whirlpool they have 3 options to follow the #bitcoin

7/11 Here is what happens when you Whirlpool & make your change un-spendable:
1 & 2) Deposits to address ending in 22ep
3) Fee
4) Toxic Change
5) 0.01 liquidity output #1
6) 0.01 liquidity output #2

8/11 It's reasonable for our adversary to follow the highest outputs. i.e., the address ending with vrrx was in a tx with 5 inputs & 5 equal outputs. Some of those outputs were used as inputs to tx's with several 0.01 BTC inputs. In legal terms this is called reasonable doubt.

9/11 As for the toxic change, I didn't realize what I was doing at first & marked it un-spendable & lost about 0.00921765 BTC. I tried sending a little more BTC to the same toxic change address but there is no getting it back. This was a $60 lesson in understanding toxic change.

10/11 After the post-mix outputs are ready to spend, you have the option to turn on Cahoots. Then you can select Stonewallx2 or Stowaway. But you either need premium or another Samourai user to utilize these cool features. Spending all of your mixed outputs reduces privacy.

11/11 Overall @SamouraiWallet mobile app is an easy way to mix on the go with a user friendly interface. I wish I had read all the instructions first so that I better understood the liquidity pools & toxic change. To learn more check out this podcast:

stephanlivera.com/episode/150/