How can I be sure that my funds in a #bitcoin coinjoin (like Whirlpool) won‘t get stolen (e.g. send to an address that I do not control)? I mean, I do not sign every transaction manually, so I think this has to happen like automatically and I do not control the flow of my funds?!?!
Is it like in Bitcoin mining, where playing according to the rules is more beneficial (i.e. the aggregated Whirlpool fee over time) than a malicious behaviour (e.g. when the trust in Whirlpool is lost, this service is done)?
I would consider myself an average joe in regards to my technical understanding of bitcoin. But I‘m curious and want to get a deeper understanding.
I have checked my two main resources for bitcoin tech related topics @Parman - Activate OP_GFY now!! and @BTCsessions but I’m stuck!
#asknostr
You a regular joe smoe yiu dont need to was sats on coinjoin bro. Stop doimg thats.. thats for big players homies. And for ppl buying crazy stuff with btc
You are trusting the software to use the addresses in your wallet, just like you would with lightning
You can read the source code
The playbook for what will happen is in the code. You custody the keys and you have the ability to audit (or delegate the audit) of the code. But you are correct, without performing that audit, you are putting a certain of level of trust in the developer.
But I would just add, it's the same level of trust you put in *any* wallet developer.