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Frequently Asked Questions

faq
How CoinJoin Works

You have 1 BTC and this is its UTXO (unspent output). So there is a story where 1 B2TC came from. To break this linearity, UTXOs are combined into a single transaction and are dispersed by addresses at the output.

Let's say 5 people have formed CoinJoin. They all send 1 BTC each and at the exit it becomes unclear who is now the owner of which story. If 100 people do this (as in one of the largest transactions in the history of Cohen John), the story will become even more confusing.

It's like a group of people changing clothes.

Do i need to run TOR?

All CoinJoin network traffic goes via Tor by default -there's no need to set up Tor by yourself. If you do already have Tor, and it is running, then CoinJoin will try to use that first.

You can turn off Tor in the Settings. Note that in this case you are still private, except when you coinjoin and when you broadcast a transaction. In the first case, the coordinator would know the links between your inputs and outputs based on your IP address. In the second case, if you happen to broadcast a transaction of yours to a full node that is spying on you, it will know the link between your transaction and your IP address.

Does COINJOIN support altcoins?

There are countless reasons why it is the only logical choice to be bitcoin-only. With Bitcoin we have a once in a lifetime opportunity to manifest libre sound money. If we succeed, then an utmost beautiful agora of sovereign individuals may emerge. If we fail, then this will conjure up the most horrific Orwellian nightmare. There is no room for wasted time and energy, this great work requires our full attention. Any line of code written to support a random shitcoin takes away scarce developer time to work on real problems.

What is a “COINJOIN”?

A coinjoin is a collaborative transaction between multiple peers.

Usually, but not necessarily, it consists of some standard output denominations that participants should break their coins in to. This makes it difficult for outside parties to trace where a particular coin was sent to (as opposed to regular bitcoin transactions, where there is usually one sender and one receiver).

Coinjoins can be done with non-custodial software like CoinJoin Wallet, that eliminates the risk of funds disappearing or being stolen. The funds will always be in a bitcoin address that the user controls and not even developers can alter the transaction or redirect the funds.

Coinjoin basically means: “when you want to make a transaction, find someone else who also wants to make a transaction and make a joint transaction together”.