From 87f36c21722fc902571c0f1ab73ee67d32263d82 Mon Sep 17 00:00:00 2001 From: chris-belcher Date: Tue, 3 Aug 2021 15:02:05 +0100 Subject: [PATCH 1/3] Fix error in simplified equation in fidelity-bond --- docs/fidelity-bonds.md | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/docs/fidelity-bonds.md b/docs/fidelity-bonds.md index 8028fba..11cee62 100644 --- a/docs/fidelity-bonds.md +++ b/docs/fidelity-bonds.md @@ -163,7 +163,7 @@ You must spend them from JoinMarket itself. Fidelity bonds UTXOs are valuable as soon as they confirmed. The simplified formula for a fidelity bond value with locked coins is: - bond_value = (locked_coins * exp(interest_rate * locktime))^2 + bond_value = (locked_coins * (exp(interest_rate * locktime) - 1))^2 A few important things to notice: * The bond value goes as the _square_ of sacrificed value. For example if your sacrificed value is From cea80e2aca2a2a913ece6077d875b89769668d32 Mon Sep 17 00:00:00 2001 From: chris-belcher Date: Tue, 3 Aug 2021 15:04:52 +0100 Subject: [PATCH 2/3] Suggest use of coin control in fidelity-bond.md Someone asked for clarification on IRC about this --- docs/fidelity-bonds.md | 3 +++ 1 file changed, 3 insertions(+) diff --git a/docs/fidelity-bonds.md b/docs/fidelity-bonds.md index 11cee62..d5bbe50 100644 --- a/docs/fidelity-bonds.md +++ b/docs/fidelity-bonds.md @@ -104,6 +104,9 @@ then either, mix afterwards as well. If your timelocked address expires and you coins to another timelocked address then you don't need to mix in between, because no privacy-relevant information linked to you has been leaked. +This can all be done with `sendpayment.py` and coin control (i.e. freezing the UTXOs that you dont +want to spend). + ### Obtaining time-locked addresses The `wallet-tool.py` script supports a new method `gettimelockaddress` used for From a090293a6709482d9f84a1cf95e44cb80d2ea46d Mon Sep 17 00:00:00 2001 From: chris-belcher Date: Tue, 3 Aug 2021 15:07:47 +0100 Subject: [PATCH 3/3] Emphasize the sybil protection gained by takers --- docs/fidelity-bonds.md | 4 ++-- 1 file changed, 2 insertions(+), 2 deletions(-) diff --git a/docs/fidelity-bonds.md b/docs/fidelity-bonds.md index d5bbe50..454f6f6 100644 --- a/docs/fidelity-bonds.md +++ b/docs/fidelity-bonds.md @@ -32,8 +32,8 @@ bonds](https://gist.github.com/chris-belcher/18ea0e6acdb885a2bfbdee43dcd6b5af/) ## How to use fidelity bonds as a taker -In JoinMarket version v0.9 or later takers will by default use fidelity bonds -without any input needed from the user. +In JoinMarket version v0.9 or later takers will by default use fidelity bonds. The user gains +very strong protection from sybil attacks without needing to do anything different. The orderbook watcher script now displays information about any fidelity bonds advertised by makers, as well as calculating how strong the system is against