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I think you responded to the wrong comment. I would still like to respond to this: > Fair enough, how about "trivial to launder" instead? It's absolutely poss
by lawn 9y ago
I think you responded to the wrong comment. I would still like to respond to this:
> Fair enough, how about "trivial to launder" instead?
It's absolutely possible to do it correctly. But the number of people who have been caught by blockchain analysis on darknet markets show that it's either not trivial or people are really stupid.
Even after you get your Bitcoin by buying it cash, perfectly anonymously, you can still be caught. For example the person who bought them from can give up some information which may implicate you if they ever mess. You also want to spend your Bitcoins and presumably you might then leave a trace connecting on of your addresses to you. By analysing your address they might find your other addresses and it's game over.
> Then after that if I really want to make it difficult to follow the money I can split my coin in multiple addresses, do a bunch of dummy transactions to obfuscate where the BTC change hands, go through a bunch of coin mixers, maybe convert to an other crypto (monero for instance?), do a bunch more mixing, and then back to BTC. Good luck unravelling all that.
Multiple addresses, dummy transactions and mixers are already being traced through with fair success [1]. Monero gives good privacy, but you might still trip up when you go Bitcoin -> Monero or even Monero -> Bitcoin if you convert very similar amounts during a specific timeframe. And you must always shield your IP and browser fingerprint...
It's possible, but this is not "trivial to launder" for most people.
[1]: https://themerkle.com/blocksci-succesfully-traces-transactions-performed-with-dash-zcash-and-other-currencies/ https://themerkle.com/blocksci-succesfully-traces-transactio...