Let’s say hypothetically all utxos in the cold storage wallet are cj’d, and a bunch of them are annoyingly small. Does consolidating them start eating away at the privacy gains or not? If yes, is there a way to do it that avoids that? (i.e. the “private” toggle on the sparrow Send screen)… @ODELL got time for a chime-in?

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Consolidating always eats away at your privacy. I don't know why people ever recommend it. Also I don't know why so few wallets have a coin selection feature.