--- Log opened Fri Apr 24 00:00:04 2020
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06:50 < Chris_Stewart_5> Is there notes somewhere on how the matching process works with liquidity providers for joinmarket? 
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07:40 < DSRelBot> [DS/AlexCato] The Taker (=the one requesting a new coinjoin) selects which Makers (= liquidity providers) which he uses. In the default settings, this is done completely randomly within the defined maximum fee that the Taker is willing to pay (defaults to 0.1% fee maximum). The maximum fee is configurable. Another choice would be to completely manually select the
07:40 < DSRelBot> makers (-P parameter, only viable in single-joins/sendpayments, not in tumbling)
07:41 < DSRelBot> [DS/AlexCato] now that you ask, though, I'm not sure where this is described in the documentation
07:55 < Chris_Stewart_5> Yeah, i'm more interested in the backbone of matching process 
07:59 < DSRelBot> [DS/AlexCato] Unsure what you mean. When the taker selected the makers to use, he just initiates the coinjoin process: sends a private message on the IRC to each maker, in the first step, set up a message encryption key. Then sends the details of the coinjoin it intends to do, so which of the maker's offers it accepts, the amount to coinjoin. All this
07:59 < DSRelBot> communication happens directly between taker and maker and is invisible to everyone else (except
07:59 < DSRelBot> [DS/AlexCato] the IRC network operator, though he cant make any sense of it either due to the encryption).
08:00 < DSRelBot> [DS/AlexCato] then it's just sending the UTXOs which the makers will use for the transaction to the taker, the taker sends the partial transaction to the makers for their signature of their UTXOs ,and in the end only the taker has the complete transactions which he broadcasts to the bitcoin network
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08:02 < DSRelBot> [DS/AlexCato] there's some more checks (e.g. to avoid snooping on maker utxos), for example a minimum UTXO age requirement of takers before they can be used for coinjoins (currently 5 confirmations) and the taker has to show a commitment, so that he cant just initiate&abandon coinjoins during creation to learn about maker UTXOs
08:02 < DSRelBot> [DS/AlexCato] but these are the hard deep down details
08:09 < DSRelBot> [DS/AlexCato] this might be useful: https://github.com/JoinMarket-Org/JoinMarket-Docs
08:10 < DSRelBot> [DS/AlexCato] your questions might be answered best in the high level design or the architecture overview
09:11 < waxwing> Chris_Stewart_5, it's interesting to make the comparison with traditional matching, first a taker can simultaneously take up several offers, also an offer is only half-"taken", because it still remains valid until an unconfirmed tx is seen on the network. 
09:12 < waxwing> also everyone is an untrusted entity (with an ephemeral nick), there is no guarantee of validity of offers, they can start the process and then not complete. we have various measures to avoid this causing failures, and more potentially in future.
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--- Log closed Sat Apr 25 00:00:05 2020