JoinMarket is software to create a special kind of bitcoin transaction called a CoinJoin transaction. It's aim is to improve the confidentiality and privacy of bitcoin transactions.
JoinMarket is software to create a special kind of bitcoin transaction called a CoinJoin transaction. Its aim is to improve the confidentiality and privacy of bitcoin transactions.
A CoinJoin transaction requires other people to take part. The right resources (coins) have to be in the right place, at the right time, in the right quantity. This isn't a software or tech problem, its an economic problem. JoinMarket works by creating a new kind of market that would allocate these resources in the best way.
A CoinJoin transaction requires other people to take part. The right resources (coins) have to be in the right place, at the right time, in the right quantity. This isn't a software or tech problem, it's an economic problem. JoinMarket works by creating a new kind of market that would allocate these resources in the best way.
One group of participants (called market makers) will always be available to take part in CoinJoins at any time. Other participants (called market takers) can create a CoinJoin at any time. The takers pay a fee which incentivizes the makers. A form of smart contract is created, meaning the private keys will never be broadcasted outside of your computer, resulting in virtually zero risk of loss (aside from malware or bugs). As a result of free-market forces the fees will eventually be next to nothing.
@ -66,7 +66,7 @@ You should see the following files and folders for an initial setup:
`joinmarket.cfg` is the main configuration file for Joinmarket and has a lot of settings, several of which you'll want to edit or at least examine.
This will be discussed in several of the sections below.
The `wallets/` directory is where wallet files, extension (by default) of `.jmdat` are stored after you create them. They are encrypted and store important information; without them, it is possible to recover your coins with the seedphrase, but can be a hassle, so keep the file safe.
The `logs/` directory contains a log file for each bot you run (Maker or Taker), with debug information. You'll rarely need to read these files unless you encounter a problem; deleting them regularly is recommended (and never dangerous). However there are other log files kept here, in particular one called `yigen-statement.csv` which records all transactions your Maker bot does over time. This can be useful for keeping track. Additionall, tumbles have a `TUMBLE.schedule` and `TUMBLE.log` file here which can be very useful; don't delete these.
The `logs/` directory contains a log file for each bot you run (Maker or Taker), with debug information. You'll rarely need to read these files unless you encounter a problem; deleting them regularly is recommended (and never dangerous). However there are other log files kept here, in particular one called `yigen-statement.csv` which records all transactions your Maker bot does over time. This can be useful for keeping track. Additionally, tumbles have a `TUMBLE.schedule` and `TUMBLE.log` file here which can be very useful; don't delete these.
The `cmtdata/` directory stores technical information that you will not need to read.
Adam Gibson
5 years ago