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Yeah I've heard this one before. I use Mullvad, paid using BTC that came straight from a tumbler. I don't use it for any nefarious reasons, just wanted to see

by tafl 6y ago

Yeah I've heard this one before. I use Mullvad, paid using BTC that came straight from a tumbler. I don't use it for any nefarious reasons, just wanted to see how such a setup would work. It was surprisingly painless. I think it took 15 minutes in total from moving my btc to the tumbler and having the tumbler move the btc to my Mullvad account. Am I 100% secure? No, they know what IP I'm connecting from. Is my name attached to the VPN? No, not even close. I suppose if I wanted to further improve my security I wouldn't use my own home network, but public wifi's nearby. But again, I didn't do it to stay "safe" or anonymous. Just wanted to see how the process would actually be.

Shank 6y ago
> I use Mullvad, paid using BTC that came straight from a tumbler. I don't use it for any nefarious reasons, just wanted to see how such a setup would work. > But again, I didn't do it to stay "safe" or anonymous. I sincerely hope that you're trying to stay safe if you're admitting to money laundering on a public forum.
- cyberpunk 6y ago
  Tumbling coins has nothing to do with money laundering, it's just a way to anonymize them....
  - ryanlol 6y ago
    Tumbling coins has everything to do with money laundering. Of course, the source of the funds isn’t necessarily illicit.
    - crazygringo 6y ago
      Money laundering is turning dirty money into clean, that appears legitimate, taxable etc. If the source isn't illicit, it isn't laundering because there's nothing to clean. Tumbling coins is just obscuring their origin. The two don't inherently have anything to do with each other. Even if you tumble "dirty" coins, you've got to explain to the IRS the source of income behind the new coins. Tumbling, in and of itself, doesn't achieve that.
      - nybble41 6y ago
        Bitcoins may get a pass because they aren't technically "money", but in general any business that transfers money on behalf of another entity without knowing exactly who both the sender and recipient are—and registering as a money transmission business, a very expensive process—will be considered to be involved in money laundering. Even if the money is provably "clean" to begin with. A company that implemented anything like a "tumbler" for USD would most certainly run afoul of anti-money-laundering regulations. It's not right, but that's the way the rules are written.
- tafl 6y ago
  Like cyberpunk said. It's not money laundering, it's a way of anonymising the bitcoins.
  - hendersoon 6y ago
    He's actually technically correct, as that is the very definition of money laundering. The difference is (assumedly) the money he's laundering wasn't obtained via illegal means.
    - walrus 6y ago
      > Money laundering is the process of making illegally-gained proceeds (i.e. "dirty money") appear legal (i.e. "clean"). Someone should let FinCEN know that their definition is incorrect: https://www.fincen.gov/history-anti-money-laundering-laws https://www.fincen.gov/history-anti-money-laundering-laws

by tafl 6y ago

Shank 6y ago

> I use Mullvad, paid using BTC that came straight from a tumbler. I don't use it for any nefarious reasons, just wanted to see how such a setup would work. > But again, I didn't do it to stay "safe" or anonymous. I sincerely hope that you're trying to stay safe if you're admitting to money laundering on a public forum.

cyberpunk 6y ago
Tumbling coins has nothing to do with money laundering, it's just a way to anonymize them....
- ryanlol 6y ago
  Tumbling coins has everything to do with money laundering. Of course, the source of the funds isn’t necessarily illicit.
  - crazygringo 6y ago
    Money laundering is turning dirty money into clean, that appears legitimate, taxable etc. If the source isn't illicit, it isn't laundering because there's nothing to clean. Tumbling coins is just obscuring their origin. The two don't inherently have anything to do with each other. Even if you tumble "dirty" coins, you've got to explain to the IRS the source of income behind the new coins. Tumbling, in and of itself, doesn't achieve that.
    - nybble41 6y ago
      Bitcoins may get a pass because they aren't technically "money", but in general any business that transfers money on behalf of another entity without knowing exactly who both the sender and recipient are—and registering as a money transmission business, a very expensive process—will be considered to be involved in money laundering. Even if the money is provably "clean" to begin with. A company that implemented anything like a "tumbler" for USD would most certainly run afoul of anti-money-laundering regulations. It's not right, but that's the way the rules are written.
tafl 6y ago
Like cyberpunk said. It's not money laundering, it's a way of anonymising the bitcoins.
- hendersoon 6y ago
  He's actually technically correct, as that is the very definition of money laundering. The difference is (assumedly) the money he's laundering wasn't obtained via illegal means.
  - walrus 6y ago
    > Money laundering is the process of making illegally-gained proceeds (i.e. "dirty money") appear legal (i.e. "clean"). Someone should let FinCEN know that their definition is incorrect: https://www.fincen.gov/history-anti-money-laundering-laws https://www.fincen.gov/history-anti-money-laundering-laws