bitcoin-tutorials/joinmarket

JoinMarket on the RaspiBlitz

Testing on a RPi4 4GB with RaspiBlitz v1.3

The current fees and available liquidity can be seen in the JoinMarket order book on https://joinmarket.me/ob/.
When installed can also check:
$ python ~/joinmarket-clientserver/scripts/obwatch/ob-watcher.py

Prerequisite

• Need to activate the wallet of bitcoind

  $ sudo nano /mnt/hdd/bitcoin/bitcoin.conf

  disablewallet=0
  

  $ sudo systemctl restart bitcoind

Installation

• Run in the RaspiBlitz terminal:

  $ git clone https://github.com/JoinMarket-Org/joinmarket-clientserver.git
  $ cd joinmarket-clientserver
  # latest release: https://github.com/JoinMarket-Org/joinmarket-clientserver/releases
  $ git reset --hard v0.5.5
  $ ./install.sh
  # (follow instructions on screen; provide sudo password when prompted)
  # do not install QT-dependencies - running headless on the RPi
  

• Activate the virtual environment to see the prompt: (jmvenv) $
  This needs to be done at every new login.

  $ cd joinmarket-clientserver
  $ source jmvenv/bin/activate
  $ cd scripts
  

Generate a wallet

• Using the JoinMarket wallet: https://github.com/JoinMarket-Org/joinmarket/wiki/Using-the-JoinMarket-internal-wallet

  (jmvenv) $ python wallet-tool.py generate

  Created a new `joinmarket.cfg`. Please review and adopt the settings and restart joinmarket.
  

  • JoinMarket uses a hot wallet sitting on your Raspberry Pi. Keep it safe.
  • Backup your seed and store safely. Best to not keep the seed and the passphrase together.
  • The wallet encryption password will be needed every time when there is interaction with the wallet. Store it somewhere accessible, best if encrypted.

• Fill in the PasswordB to the joinmarket.cfg
  (as in /mnt/hdd/bitcoin/bitcoin.conf)

  $ nano joinmarket.cfg

  [BLOCKCHAIN]
  rpc_user = raspibolt
  rpc_password = PasswordB-as-in-bitcoin.conf
  

• Display the addresses to fund (look in mixdepth 0):

  (jmvenv) $ python wallet-tool.py wallet.jmdat

  and run again after the first time

Send payments through coinjoins with sendpayment.py

• Described in: https://github.com/JoinMarket-Org/joinmarket-clientserver/blob/master/docs/USAGE.md#try-out-a-coinjoin-using-sendpaymentpy

• See the walkthrough for the JoinMarket-Qt GUI to send payments with coinjoin or run multiple coinjoins (tumbler): https://github.com/JoinMarket-Org/joinmarket-clientserver/blob/master/docs/JOINMARKET-QT-GUIDE.md

• Video demonstration of using the JoinMarket-Qt GUI: https://youtu.be/hwmvZVQ4C4M

Run a Yield Generator

• Read the basics: https://github.com/JoinMarket-Org/joinmarket/wiki/Running-a-Yield-Generator

• Edit the settings:
  $ nano yield-generator-basic.py

  """THESE SETTINGS CAN SIMPLY BE EDITED BY HAND IN THIS FILE:
  """
  txfee = 100
  cjfee_a = 500
  cjfee_r = '0.00002'
  ordertype = 'swreloffer' #'swreloffer' or 'swabsoffer'
  nickserv_password = ''
  max_minsize = 1000
  gaplimit = 6
  

  • txfee is the maker's contribution to the miner fees (still paid by the taker). To reduce the minimum offer amount for swreloffer set it to 0.
  • cjfee_a is the fixed coinjoin fee to be earned when using swabsoffer
  • cjfee_r is the relative fee when using swreloffer. Specified as the fraction of the used amount.
  • max_minsize specifies the minimum offer size in satoshis (this is the minimum size the UTXO will end up to be after participating in coinjoin)
  • ordertype sets either a relative (swreloffer) or an absolute (swabsoffer) coinjoin fee model

• Once set up run:

  (jmvenv) $ python yield-generator-basic.py wallet.jmdat

Check the transaction history

• use the wallet tool: (jmvenv) $ python wallet-tool.py wallet.jmdat history

• View the log of the transactions of the Yield Generator:
  $ cat ~/joinmarket-clientserver/scripts/logs/yigen-statement.csv

• Monitor continously with:
  $ tail -f -n 100 ~/joinmarket-clientserver/scripts/logs/yigen-statement.csv

Keep the offers running in the background with Tmux

• Install on the RaspiBlitz:
  $ sudo apt install tmux
• Start:
  $ tmux
• Work in the terminal as described above.
  Find a basic introduction at https://www.ocf.berkeley.edu/~ckuehl/tmux/
• If the terminal is disconnected the processes in tmux keep running (as it is running on the Blitz) and can be returned to
• when logged in after a disconnection run:
  $ tmux a
  to pick up where left off

Resources:

• Latest codebase: https://github.com/JoinMarket-Org/joinmarket-clientserver

• Installation instructions: https://github.com/JoinMarket-Org/joinmarket-clientserver#quickstart---recommended-installation-method-linux-only

• Tmux will be included in the next release of the RaspiBlitz: https://github.com/rootzoll/raspiblitz/issues/793

• Discuss JoinMarket usage on the RaspiBlitz in https://github.com/rootzoll/raspiblitz/issues/842

• More links and info in 6102bitcoin/CoinJoin-Research: https://github.com/6102bitcoin/CoinJoin-Research/blob/master/CoinJoin_Implementations/11_JoinMarket-JoinMarket-Org/summary.md