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- confiscate my bitcoin, or even find out how much I have Bitcoin's public ledger is especially vulnerable to FBI "follow the money" investigation. Only one en

- confiscate my bitcoin, or even find out how much I have Bitcoin's public ledger is especially vulnerable to FBI "follow the money" investigation. Only one end is required to be known, and the entire trail is easily followed. The federal agent who stole a portion of Dread Pirate Roberts' Bitcoin was quickly tracked and prosecuted.

jjeaff 7y ago
Properly implemented "Laundering" services for crypto currency can make follow-the-money effectively useless. The funds are transferred to a wallet, they are mixed with many other coins, and then they are paid out in different sized transactions to the recipient. Assuming you have a busy enough pool, it should be technically untraceable.
- dingdongding 7y ago
  Just like giant corporate balance sheets?
- hdfbdtbcdg 7y ago
  Sounds like something where if you offered that as a service you would probably be legally required to Know Your Customer and to keep records...
  - Kuinox 7y ago
    These services does not require manipulating real money. To run the service, it requires a device connected to the internet, that all. You can find a lot of way to host it in a country that don't have these requirements, or to host it anonymously.
    - Nursie 7y ago
      Mixers are now a target for law enforcement though, just so you know.
      - Kuinox 7y ago
        I know, but you can easily do a service on a decentralized service really hard to shutdown, anonymously.
- Svoka 7y ago
  Honestly, it seems like you’re trying to make it sound like a device one would use exclusively for scamming.
  - feanaro 7y ago
    The poster was replying to a comment discussing traceability by the FBI so he can hardly be blamed for the topic.
  - DagAgren 7y ago
    Not exclusively - it is also used for extortion, laundering money, and paying for illegal goods and services.
- zaarn 7y ago
  Until you want to make it into useful things and then the IRS will be asking how you bought that car and where the money came from. If it came from a laundering pool of bitcoins, tough luck convincing anyone you didn't do money laundering.
feanaro 7y ago
Exchanging Bitcoin for Monero or Zcash, making a private transaction, then selling it back for Bitcoin under a separate account would seemingly stop this dead in its tracks.
- close04 7y ago
  But then untraceability would be a quality or Monero or Zcash, not Bitcoin itself.
  - feanaro 7y ago
    Yes, I didn't mean to imply otherwise. Bitcoin is obviously traceable by design, but I've seen claims this traceability is unbreakable, even by mixers or roundtrips to other currencies, which just sounds like FUD and nonsense to me.
k_vi 7y ago
wasabi wallet's[1] coinjoin today has a large enough pool to make your bitcoin txs fungible. [1] https://wasabiwallet.io https://wasabiwallet.io
m00dy 7y ago
Tracking crypto-coins are actually real business [0]. [0]: https://www.chainalysis.com https://www.chainalysis.com
- repomies691 7y ago
  And a growing field of business, I would bet.

jjeaff 7y ago

Properly implemented "Laundering" services for crypto currency can make follow-the-money effectively useless. The funds are transferred to a wallet, they are mixed with many other coins, and then they are paid out in different sized transactions to the recipient. Assuming you have a busy enough pool, it should be technically untraceable.

dingdongding 7y ago
Just like giant corporate balance sheets?
hdfbdtbcdg 7y ago
Sounds like something where if you offered that as a service you would probably be legally required to Know Your Customer and to keep records...
- Kuinox 7y ago
  These services does not require manipulating real money. To run the service, it requires a device connected to the internet, that all. You can find a lot of way to host it in a country that don't have these requirements, or to host it anonymously.
  - Nursie 7y ago
    Mixers are now a target for law enforcement though, just so you know.
    - Kuinox 7y ago
      I know, but you can easily do a service on a decentralized service really hard to shutdown, anonymously.
Svoka 7y ago
Honestly, it seems like you’re trying to make it sound like a device one would use exclusively for scamming.
- feanaro 7y ago
  The poster was replying to a comment discussing traceability by the FBI so he can hardly be blamed for the topic.
- DagAgren 7y ago
  Not exclusively - it is also used for extortion, laundering money, and paying for illegal goods and services.
zaarn 7y ago
Until you want to make it into useful things and then the IRS will be asking how you bought that car and where the money came from. If it came from a laundering pool of bitcoins, tough luck convincing anyone you didn't do money laundering.

feanaro 7y ago

Exchanging Bitcoin for Monero or Zcash, making a private transaction, then selling it back for Bitcoin under a separate account would seemingly stop this dead in its tracks.

close04 7y ago
But then untraceability would be a quality or Monero or Zcash, not Bitcoin itself.
- feanaro 7y ago
  Yes, I didn't mean to imply otherwise. Bitcoin is obviously traceable by design, but I've seen claims this traceability is unbreakable, even by mixers or roundtrips to other currencies, which just sounds like FUD and nonsense to me.

k_vi 7y ago

wasabi wallet's[1] coinjoin today has a large enough pool to make your bitcoin txs fungible. [1] https://wasabiwallet.io https://wasabiwallet.io

m00dy 7y ago

Tracking crypto-coins are actually real business [0]. [0]: https://www.chainalysis.com https://www.chainalysis.com

repomies691 7y ago
And a growing field of business, I would bet.