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21 sats \ 4 replies \ @optimism 24 Jun \ parent \ on: What do you consider a fair premium to pay for no-kyc bitcoin? AskSN
Yes, because it doesn't really matter: anyone you trade with can wrench you. Your robosats peer can ID you through your bank account. Your f2f cash trade can ID you cuz you met. Do you think they won't sell you out if they get in trouble with organized crime? They'll do so in an instant if it will save their lives.
The only way is to earn sats anon and be really good about opsec. But that's very hard to execute at scale. Instead, just don't be a big fish in a central place. Spread risk. Don't use the same methods all the time.
.5% is what they charge + tx fees. Don't push small amounts.
Hm. Food for thought. Chances of these scenarios seems less likely than an central exchange getting hacked, but definitelt not negligible.
configure wasabi,
Last I checked coinjoins had fees too.
So effectively,
Buy on exchange (0%) -> swap (0.5%) -> coinjoin (fee depends on coordinator?) -> reverse swap (0.5%) /open channel (miner fee) -> swap into cold storage (0.5)
Looks like it could be close to 4% or 5% with more leg work when its all said and done.
I guess with some inbound liquidity you can send directly from the exchange to your node and swap to cold storage with reasonable privacy. That's probably ideal, again, only if you're okay with exchanges having your coordinates
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No you just on-chain transfer into cold storage. LN is what you use on the way out of cold storage, but not through swap but you simply fund a channel. Boltz does mixing checks so you only want to use them to offramp from LN. For onramp, just find a cheap counterparty on Amboss.
Edit: My last round of mixing (at 2-5 sat/vb) cost me ~0.3% in fees in total. So 0.5% for boltz + 0.3% for mixing = 0.8%... LN fees plus - unless you're unlucky - tx fees out, won't add .2% there if you're using Msat denominations... so under 1%.
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This makes sense. 8% seems like a lot in comparison when you put it that way.
Then you're just spending sats or p2p trading for fiat if needed.
Still I don't like the coerced identification that central exchange require.