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RE: HOW TO protect your privacy with BTC Mixing service – step by step

in #crypto-news5 years ago

What if you mix for privacy, and it get mixed with a group of people hiding BTC from drug deals? Are you really better off? Why not convert to Monero and send, and then convert back?


It's possible the BTC you have at the moment has traces of cocaine on it.. but it doesn't matter to the network.
also no one knows if the address belongs to you or a drug dealer and in the case that the drug dealer got caught and analytic's was ran on their addresses, they would hit a brick wall once they got to the transaction that went to the mixer and then another wall trying to work out who owns your address.
but you are right, there are many was to accomplish the same thing, you could use an altcoin like you suggested Monero or Dash; you could use confidential transaction or stealth address with BTC and many other means;
i use this mixed to transfer coins between trading accounts so that exchanges cannot collude and link my accounts together; not that i am kyc'd on any of them just and extra measure i like to use.

1 year later! No disagreement. It matters to the person who used coinbase to buy their bitcoin then used a mixer. It sounds like you know your stuff but I would be concerned for someone who tried to use one for privacy and then found themselves under suspicion. Bitmixer is closed down and it is for the reason I listed. LE is a blunt tool.

Atomic swaps via different networks might be a temporary solution, or Monero. Although I would guess Monero can be tracked they are just sleeping on disclosure to wait for a big enough reason to use.