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Then back to my original point: If no exchanges allow you to deposit BTC, what are you doing with it? Once you've shamir-secret-split your multi-sig cold-stora

by hudon 8y ago

Then back to my original point: If no exchanges allow you to deposit BTC, what are you doing with it? Once you've shamir-secret-split your multi-sig cold-storage private keys, laminated them, placed them in fireproof envelopes and dug them deep in the ground in 5 different continents... what exactly do you DO with your BTC?

plankers 8y ago
Your original point was that _Coinbase and Gemeni_ had prevented you from exchanging your BTC for fiat currency. There's nothing preventing you from taking your BTC to some other exchange, or just some guy that accepts BTC for goods or services. That's the beauty of this whole decentralized thing.
- hudon 8y ago
  No, you misread. "et cetera" is latin for "and the rest"... I put that there because exchanges are all tied. A ban on one leads to a ban on another, depending on the severity of your crime. > There's nothing preventing you from taking your BTC to some other exchange I've already showed you that exchanges can freeze your assets, so yes they can prevent you from sending to other exchanges. > some guy that accepts BTC for goods or services. That's the beauty of this whole decentralized thing. If your marker for decentralization is currency adoption, then USD is the most decentralized. I thought we were passed this whole "Bitcoin is not created by humans" meme...
  - a_t48 8y ago
    Can’t you just do a private transfer to a fresh wallet?
    - snark42 8y ago
      You might have to tumble it first.
    - hk__2 8y ago
      > Can’t you just do a private transfer to a fresh wallet? Isn’t the point of Bitcoin not to have private transfers?
    - jki275 8y ago
      It doesn't work that way, every transaction is fully traceable all the way back to the block the coin was mined in.
  - SuddsMcDuff 8y ago
    > "I've already showed you that exchanges can freeze your assets" Your point is well taken, however it needs to be made clear: exchanges can only freeze those assets which you yourself have placed in their control.
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dharma1 8y ago
p2p trades
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rocqua 8y ago
Washing your coins through monero / Zcash is a simple option (With enough splits and spread over time so amount correlation is harder). If you have some time, rent mining power with BTC, and get freshly minted totally clean bitcoin in return.
richardknop 8y ago
You can exchange your bitcoin for stuff outside of those exchanges. Lot of ways to spend bitcoin without having to use an exchange ;)

by hudon 8y ago

plankers 8y ago

Your original point was that _Coinbase and Gemeni_ had prevented you from exchanging your BTC for fiat currency. There's nothing preventing you from taking your BTC to some other exchange, or just some guy that accepts BTC for goods or services. That's the beauty of this whole decentralized thing.

hudon 8y ago
No, you misread. "et cetera" is latin for "and the rest"... I put that there because exchanges are all tied. A ban on one leads to a ban on another, depending on the severity of your crime. > There's nothing preventing you from taking your BTC to some other exchange I've already showed you that exchanges can freeze your assets, so yes they can prevent you from sending to other exchanges. > some guy that accepts BTC for goods or services. That's the beauty of this whole decentralized thing. If your marker for decentralization is currency adoption, then USD is the most decentralized. I thought we were passed this whole "Bitcoin is not created by humans" meme...
- a_t48 8y ago
  Can’t you just do a private transfer to a fresh wallet?
  - snark42 8y ago
    You might have to tumble it first.
  - hk__2 8y ago
    > Can’t you just do a private transfer to a fresh wallet? Isn’t the point of Bitcoin not to have private transfers?
  - jki275 8y ago
    It doesn't work that way, every transaction is fully traceable all the way back to the block the coin was mined in.
- SuddsMcDuff 8y ago
  > "I've already showed you that exchanges can freeze your assets" Your point is well taken, however it needs to be made clear: exchanges can only freeze those assets which you yourself have placed in their control.

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dharma1 8y ago

p2p trades

deleted 8y ago

[deleted]

rocqua 8y ago

Washing your coins through monero / Zcash is a simple option (With enough splits and spread over time so amount correlation is harder). If you have some time, rent mining power with BTC, and get freshly minted totally clean bitcoin in return.

richardknop 8y ago

You can exchange your bitcoin for stuff outside of those exchanges. Lot of ways to spend bitcoin without having to use an exchange ;)