Frequently Asked Questions

We wanted to have a lot of chip sizes and to easily split/merge them. if you start with 1 and you split it, your minimal chip is 0.015625 which seems even weirder.

After a while it will get more common, because you won't even need to use mixer to anonymize your coins. Just split them into tokens and they look exactly like chips.

You are in luck! We have introduced commonize function which will swap your weird looking 1.024 chip into 1 chip and weird looking 0.512 into 0.5.

Using this action will cost you the weird part of chip which is around 2% fee.

Sadly, yes, we have created them and as long as two people knows private key, either of them can move funds. When you withdraw a chip, you receive a copy of private key encrypted on the mixer's server. You are free to sweep it yourself, ask us to send it to your address or keep it on chip for a while. Only the last option keeps your funds vunerable to our dishonesty, but it also extends your privacy. If you sweep funds from chip in first 12h after your input, you receive same privacy as you would get from standard mixer. If you trust us (as you already did when you sent coins into mixer) and spend chip when you need it, then you achive maximum privacy you can get.

Current mining fees are almost as high as smallest chip size. Instead of withdrawing small chip - we issue a voucher for that amount. You can redeem old voucher to merge two small chips into one bigger and withdraw big one.

After you've received private key, you can spend them right away without waiting for our transaction. But that's not all. Since your withdrawal is not visible on, it looks like your chip was moved a few days before your deposit. Time Travel! Third, less spectacular element this method gives you is that you decide when to move those coins next. Few days? Few seconds? Who knows, you are not encumbered with our solution. Fourth, when you are in a hurry, you can set higher fee to have your transaction included in first block. It's your money after all.

Your session lasts for 7 days. After that, your session and all its data will be removed. You can also destroy your session before time is up. We keep statistical data ie. how much was donated.

Let's hear the expert:

First of all I was going to explain what we mean by fungibility before and ecash. It's an old legal concept in fact, about paper currency. It's the idea that a one ten dollar note is the same as any other ten dollar note. If you receive a note that was involved in a theft, 10 transactions ago, and the police investigate the theft, they have no right to remove the ten dollar note from your pocket. It's not your fault that it was involved in a previous crime. And so bank notes actually have serial numbers, so it would be possible for a stolen note to be traced back to you.

This first arose, there was a 17th century court case where a wealthy merchant sent a couple of high-value bank notes to a colleague in the post and they never arrived. Before he sent them, he was quite paranoid that they would get stolen. He wrote down the serial numbers and made a mark on them. Sure enough they didn't arrive, so he put in a complaint with the bank, and evenutally the notes turned up at the bank. He tried to get the bank to return the notes to his ownership. The courts sided with the bank. Their reason was that if notes could be returned to their original owner after a theft, it would damage confidence in currency and it would be bad for business, the currency would become unusable because every time you received the paper note you would have to look in the newspaper whether it was reported stolen, or you would have the risk of it being taken, or you would have to rush to the bank to deposit it so that it was the bank's problem.(...)

Then we arrive at this problem of taint tracing. Because it's not very private, some people took an interest in tracing coins and I think the motivation was that there's a number of high-profile thefts of coins from exchanges and other businesses, and that's a problem for those businesses and they went out of businss because of it. Some people would like to put distance between themselves and coins that were used in illicit use. There is a law that says that currency is fungible, but because you can somewhat tell where a coin was used before, people started to care. Coin validation proposed to offer as a service to trace coins and try to give you a rating about how the history of the coin from your point of view and to offer that as a service to businesses. I think this could be quite dangerous because it goes back to that 17th century court case where now you could receive a coin that is perfectly valid at the time that you receive it, but a few weeks later a crime is uncovered and now your coin is tainted. So if this coin validation service is advicing many of the merchants where you would want to spend your coin at, it's tainted and now the merchant would refuse to accept your coin. That's a strange experience for you; you're holding a coin that you might have to sell at a discount to get rid of it. The aggregate effect of this might create a run on the price. So it reopens this long-set legal principle that currency or currency units are all equal.

http://diyhpl.us/wiki/transcripts/bitcoin-adam3us-fungibility-privacy/