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Early bitcoin users reduced transaction fees or increased their anonymity online, but how? Have a seat, we're about to share all about it 🤫

It seems like an outdated and inconvenient solution now, but there used to be transaction tumbling.

The idea behind this solution was this:

Let's say you are Alice, who has to make a transfer to Bob every day. Bob, in turn, also has to transfer funds to someone else quite often, e.g., Eve and so on in a circle.

Would you agree that it is not very profitable to send dozens of transactions to each other every day? Bitcoin commissions are quite high, and hardly everyone likes the publicity of your daily transfers.

The solution to this problem was transaction tumbling. To create a tunnel, you had to stipulate all its participants in advance. A departure of one of the participants from your group or the addition of a new one leads to the destruction of the old tunnel and the formation of a new one, so you need to precisely stipulate the terms of your cooperation in advance.

So, how does it work?

In general, this mechanism has numerous different implementations, but one of the most common solutions is using a trusted service.

➡️ You form a group of participants who will mix transactions among themselves in the future.

➡️ You transfer your funds to a temporary account, which is controlled by a trusted service.

➡️ Through the trusted service or in any other way, all group members indicate where and what amounts they will send within a predetermined period of time.

➡️ After your contract is finalized, the service or participants calculate how much each user needs to transfer and a single transfer is made.

As a result, instead of paying numerous commissions, each participant pays only for the deposit of funds and the service for their withdrawal. In addition, it becomes more difficult to track the exact movement of funds, which increases the anonymity of such transfers. However, with the passage of time and improvement of bitcoin analytics technologies, such solutions became irrelevant and outdated.

They have been replaced by second-tier protocol solutions for Bitcoin that allow for instant and low-cost transactions between all participants. They also allow the creation of private channels between different users.

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⚡️ Breaking News. Again:

😠 The candidates for the next presidency of the United States have abandoned the standardized vote and decided that the one whose meme token raises the most money will win. So far, $TRUMP and $BODEN are among the leaders.

🔒 One developed country's tax service has been out of business for a year and shut down as a result due to fierce debate over which blockchain they should analyze first for fraudulent transactions.

👽 When disassembling the miners , the main source of the noise was revealed - all of it it was the fault of colonies of little aliens from the planet ToTheMoon, which make a very loud slurping noise when they absorb electricity.

📝 Scientists have created the most energy-efficient consensus algorithm, Proof of paper. You write a check, which is the proof of funds transfer. It works asynchronously and provides more bandwidth.

🍅 During Elon Musk's stream, fruit got into the frame, some serious Bloomberg analysts took it as a signal and began to buy vegetable meme-tokens en masse.

If you ask our CEO what he thinks the best place in the world is, he will no doubt say Dubai, but in his heart he will only remember our farm. No wonder, look how beautiful it is!👀

React if you want to go there one day 💰

Time to Say Goodbye!🥺

Starting next week, we will gradually begin decommissioning the old, inefficient miners to make way for new equipment that is about to arrive at our farm.

Your income and hashrate will remain stable. But there may be short-term fluctuations in the residual hashrate, which is used to replenish the Treasury. After new miners are connected we are going to mine even more profit for our users.

Like = Pay tribute to the retiring old miners ❤️