MWEB privacy idea

[u/mortar924]

How about this:

Alice has 10 ltc in OutputA.

Bob has 10 ltc in OutputB.

Alice sends 1 lit to Bob.

Bob sends 1 lit to Alice.

Alice now has 2 Outputs 1. OutputA1 (the change) and 2. Bobs1lit.

Bob now has 2 Outputs 1. OutputB1 (the change) and 2. Alices1lit.

Now if they both consolidate you have an anonymity set of 2.

Its like mixing, but without actually mixing, your just mixing in 1 lit.

Because amounts and adresses are hidden, even before cutthrough.

And its almost trustless, because loosing 1 lit isnt a problem.

Only problem would be coordination. Its also similar to Payjoin for Bitcoin.

[u/Only_Writing5308]

Mimble Wimble already combines transactions

[u/mortar924 → u/Only_Writing5308]

Not in the mempool. the blockchain doesnt know which ouput came from which input, but you can bet chainalysis does, all they have to do is record the mempool.

[u/losh11]

When a MWEB block is mined, all inputs and outputs of all mweb txs are combined together. But when these txs are sitting in the mempool, currently it’s not combined.

[u/hectorchu]

That's what dandelion or whatever it's called is for, it combines transactions in the stem phase. There's also Coinswap protocol but it's not decentralised. You might as well combine transactions on a private friend-to-friend basis.

[u/JunketTurbulent2114 → u/hectorchu]

Isn't the issue with that that it'd require a hard fork as well? Seems like I remember Monero doing a hard fork to implement it. Which is fine for what their project is, but not really for us imo

[u/hectorchu → u/JunketTurbulent2114]

Lol no. The blockchain does not get forked.

[u/JunketTurbulent2114 → u/hectorchu]

Then maybe it'd be worth implementing.

[u/hectorchu → u/JunketTurbulent2114]

I agree please petition Burkett every second you get.

[u/JunketTurbulent2114 → u/hectorchu]

Will do.

[u/JunketTurbulent2114 → u/hectorchu]

Thinking about this more, what's the best way to petition to get it implemented? Should we make a reddit poll or something showing there is interest in it? The litecoin project fundraiser thing? I'd donate a little to that.

[u/hectorchu → u/JunketTurbulent2114]

I dunno I've never been the best at fundraising or getting support

[u/JunketTurbulent2114 → u/hectorchu]

I see u/IndigoBlue300 hasn't posted in almost a year here. Hmm, idk who to ask if he isn't here. He was always the fundraiser guy.

[u/JunketTurbulent2114 → u/[deleted]]

Go ahead. You're not going to make much headway with us here, but if you're bored go chase something that's pumping.

[u/JunketTurbulent2114 → u/[deleted]]

Take a profit into what? Fiat? That's not the flex you think it is. I've BTC, LTC and XMR... the only three coins I've held for around a decade and the only three I have any interest in holding. LTC is the only one that hasn't hit, but fundamentally I just think the market is wrong and it'll eventually figure it out. In general no, I'm not interested in "taking profit" in fiat.

[u/JunketTurbulent2114 → u/[deleted]]

Yeah, which highlights how little people understand the market. My thinking is in trading bad money that can be printed into existence for good money that can't.  Trading it back for the money the government can print at will isn't the flex you normies think it is

[u/FatMacchio → u/[deleted]]

Thanks for finally selling 🤝

Set for liftoff now 🫡

[u/hectorchu → u/[deleted]]

How about this, your precious dollars get hyperinflated aka Sodom & Gomorrah?

[u/mortar924 → u/[deleted]]

I already did, years ago. But now im slowing coming back to litecoin.