UTXO Bitcoin
337 sats \ 3 comments \ @Bitcoinfreedom 16 Oct 2023 bitcoin
I want to consolidate small amount of UTXO so l have two questions
Is it good security exercise to consolidate KYC with Non KYC Bitcoin??
And how much you can tell that this UTXO can be spendable(minimum UTXO)in the future When the fees get really expensive??
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0 sats \ 2 replies \ @davidw 16 Oct 2023
To me, both stacks should always remain separate. Not least because one will always have a trace back to your identity. If you ever ever plan to sell back to USD, definitely better to be separate, even if both have implemented coinjoins. Even with many extra layers of obfuscation, it’s just generally not recommended. Those KYC coins will always have your name against them. If you are ever forced to sell for whatever reason at all, you risk compromising the entire stack. Really small “doxxic” change however is a problem though.
Minimum UTXO has been mentioned by others on SN of around 1m sats or 0.01, to safeguard against future high fees. Best to have a number of different sized UTXO denominations above that ideally.
I have a post I am finishing up this week hopefully, which may contain some coinjoin consolidation strategies (& probabilities).
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0 sats \ 1 reply \ @Bitcoinfreedom OP 16 Oct 2023
So even l did coinjoin all my KYC coin still have my name against them!! Is there a way or privacy feature for this??
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0 sats \ 0 replies \ @davidw 16 Oct 2023
That’s the beauty of KYC, for the authorities. They will always have that record.
Coinjoins will help you break “the tail”, for spending them in future. And help with forward-looking privacy.
The only solution is to really acquire BTC via alternative methods, that do not require your ID be linked to them. And to keep those separate to avoid confusion or complication later.
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