Author: ZmnSCPxj 2020-06-10 06:47:28
Published on: 2020-06-10T06:47:28+00:00
The email is discussing payjoin and the sender has a couple of concerns about its effectiveness. The first concern is that if it is known to be a payjoin transaction, anyone could determine the sender, the recipient, and amount. It is assumed that everyone has a single UTXO because payjoin becomes common use and payjoin consolidates UTXOs through "snowballing". The example given is that if Alice has a UTXO of 0.05 btc and Bob has a UTXO of 1.15 btc, Bob can be assumed to have more balance because he is a merchant and his customers payjoin him payments a lot. However, it is important to remember that Bob cannot exist in isolation and probably has employees, suppliers, and shareholders.Bob can hold a 0.05 BTC UTXO in a holding wallet while taking the 1.16 UTXO from Alice and transferring 1.12 BTC to the holding wallet. This looks like one of the "customer pays Bob" transactions but is different. Bob then uses the holding wallet to pay out to employees, suppliers, and shareholders in a single large batched transaction, leaving behind another 0.05 BTC in the holding wallet for the next time Bob has to pay to employees/suppliers/shareholders. The transaction of 1.16 --___-- 1.17 and 0.05 -- -- 0.04 could be interpreted as the 0.05 owner paying to the 1.16 owner, but in fact, that is just Bob preparing the incoming funds from the merchant front-end for processing to send to its own liabilities.
Updated on: 2023-06-14T02:19:18.830997+00:00