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Joined 1 year ago
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Cake day: November 12th, 2023

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  • It seems to be more like hiding coins in different addresses while obscuring it on chain & using some clever math to make the UX better.

    You are accurate: you “hide” coins in different addresses which are only know to the receiver and the sender, I cannot paste a SP address in a block explorer and find what addresses belong to it, and what is the total balance of this BTC user. I can however send a payment to it and then have a “watch” on this entity, there is no obscuring happening on-chain so usual heuristics like when a coin is spent, to where, how much is change, etc still apply.

    Which also means if they spend many SP payments together, they reveal to me & others all the addresses belonging to them and what the total balance was, you can think of it like if bitcoin users sent their BTC addresses to each other via DMs, but it removes the interactivity step from handling new addresses, while adding the scanning requirement so the receiver can also know which addresses were generated to them without having to ask senders each time

    It is a good feature to have in general in my opinion, but definitely does not come any close to competing with Monero still