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Q&A with BTCxZelko
The Bitcoin content for Bear Arms 2021 is all about privacy and financial sovereignty. In this newsletter we do a Q&A with BANB presenter BTCxZelko. He’s the Co-Founder of RoninDojo.
GNB: What is the Ronin Dojo and how is it different than other Bitcoin nodes?
Zelko: RoninDojo is easiest and most reliable way to run your own full node to back your Samourai Wallet. It was created by the Samourai Community for the Samourai community. While other nodes appeal to the non-technical and care more about how many apps they support than the quality of their product, we focus on only what you need, while still taking the heavy lifting off of the user.
GNB: Why should people use Samourai conjoin tools?
Zelko: First it is important to understand what bitcoin is at a basic level: peer-to-peer digital cash done via a distributed ledger. The distributed ledger is important as it verifies supply cap, transaction and transaction history. This last part is crucial as it is what CAN prevent bitcoin from being truly becoming digital cash. Given that bitcoin is pseudonymous at a basic level, in the beginning bitcoin was much closer to digital cash, however, with KYC creeping in all facets of our life and the bitcoin world, this posses as massive threat to our privacy. Which is where Samourai coinjoin comes in.
A coinjoin is a non-custodial collaborative transaction with more than participant which results in an obfuscation of the transaction inputs and outputs. Making it more difficult to determine who's coins are who's after the transaction.
Samourai offers two variations: Whirlpool and Cahoots.
TLDR: Whirlpool is a 5 participant coinjoin with opportunity to continuously mix for free and breaks all deterministic links. Is a paid service.
Cahoots is collaborative 2 person coinjoin, that does not break deterministic links, but DOES create an amount of doubt to an outside observer. Utilized best as a post-mix tool. A free service.
To recap: You should be coinjoining your bitcoin as it increases the crowd to which we all wish to hid it. Whirlpooling will break all deterministic links to anything/anyone that it was previously associated with, living your fresh clean bitcoin that your are free to spend however, you'd like.
GNB: Why should users run their own bitcoin node, and specifically with Samourai Whirlpool features?
Zelko: Running your own brings the ownership back to the users. It's commonly stated that running your own node is being your own bank. Which is true to an extent as banks have the ultimate insight on ALL the money that deposited in their accounts. So being your own bank is a good thing as it cuts out any middle man. But most importantly running your own node serves two major purposes:
1) Retains your privacy, because if you aren't running your own node, you are using a wallet connected to someone else's full node. That other person knows information about your transaction and sometimes may even have your XPUBS (extend public keys). Which is horrible for privacy, as this gives the node full access to every address ever used or that will be created in the future.
2) Your node your rules. In the event of something like what was seen during the UASF in 2016, as a node operator you determine what the rules of your node are, and what chain your node will follow.
You should run a full node (Dojo) with Samourai Wallet for all the above reasons stated but additionally, my personal favorite reason to run dojo: Whirlpool-CLI mixing 24/7. I can sleep peacefully knowing that my whirlpooled coins are going to consistently be added back into the cycle to be mixed again given that my Dojo is mixing them.
Dojo (and RoninDojo) both utilize to tor to communicate with your mobile Samourai Wallet, giving you the freedom to travel anywhere and have the ability to use your wallet, even in the Streets.
Come to Bear Arms N’ Bitcoin 2021 to hear BTCxZelko and others teach you how to acquire, hold, and use Bitcoin as privately and securely as possible.
A big thank you to our major sponsors of Bear Arms N’ Bitcoin 2021