Good morning again Mr. Lee,

> > I am trying to learn about payjoin. I have a couple concerns on its
> > effectiveness. Are my concerns valid or am I missing something?
> > concern 1
> > If it is known to be a payjoin transaction anyone could determine the
> > sender the recipient and amount right?
> > Lets assume that everyone has a single utxo because payjoin becomes common
> > use and payjoin consolidates utxos through "snowballing". If Alice has a
> > UTXO of 0.05 btc and Bob has a UTXO of 1.15 btc. Bob can be assumed to
> > have more balance because he is a merchant and his customers payjoin him
> > payments alot.


It is also helpful to remember that Bob cannot exist in isolation, and 
therefore, Bob probably has:

* Employees.
* Suppliers.
* Shareholders.

For example, suppose Bob holds in reserve a 0.05 BTC UTXO in a holding wallet.

Then Bob takes the 1.16 UTXO it got from Alice and transfers 1.12 BTC to the 
holding wallet:

    Bob merchant wallet 1.16 --___-- 1.17 Bob holding wallet
    Bob holding wallet  0.05 --   -- 0.04 Bob merchant wallet

The above looks exactly like one of the "customer pays Bob" transactions, but 
is in fact different.

Then Bob uses the holding wallet to pay out to employees, suppliers, and 
shareholders, such as in a single large batched transaction, and then leaves 
behind another 0.05 BTC in the holding wallet (or some random small number of 
BTC) for the next time Bob has to pay to employees/suppliers/shareholders.

So the transaction below:

    1.16 --___-- 1.17
    0.05 --   -- 0.04

*could* be interpreted as the 0.05 owner paying to the 1.16 owner, but in fact 
that is just Bob preparing the incoming funds from the merchant front-end for 
processing to send to its own liabilities.

Regards,
ZmnSCPxj
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