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I don't people understand the potential consequences of using mixers and anonymized bitcoins. If you have large sums in bitcoins you have anonymized and want t

I don't people understand the potential consequences of using mixers and anonymized bitcoins. If you have large sums in bitcoins you have anonymized and want to start withdrawing it as USD or some other currency, it can be confiscated unless you can proof it's origin (yes, there is reverse burden of proof). Anonymize only bitcoins you use on the internet as anonymous user. Don't anonymize bitcoins you want to withdraw or convert into legal tender someday.

RandomBacon 6y ago
I don't understand people who insist on using a cryptocurrency that they have to jump through hoops to mix and hope they do it properly, spending lots of time and money on fees, rather than just using a cryptocurrency that is private by default.
- Nokinside 6y ago
  Cryptocurrency that is anonymous by default has the same problem. You can use it only on the net for small purchases. Every time you try take larger sum of cryptocurrency into the financial system, anonymity becomes a legal burden.
  - RandomBacon 6y ago
    > Every time you try take larger sum of cryptocurrency into the financial system, anonymity becomes a legal burden. Not every time. Maybe for some countries or some people. I am a US Citizen and use the US-based exchanges Kraken and Coinbase and have not had a problem with depositing significant amounts of cryptocurrency. (Of course I verified and requested higher limits and reported the capital gains to the IRS).
    - Nokinside 6y ago
      >depositing The problem rarely happens during depositing as the source of money is known. It's the withdraw you must worry about, especially if you have deposited significantly less than what you withdraw. In the US FinCEN is extra strict and US money laundering regulations are tough.
      - RandomBacon 6y ago
        That makes even less sense. Further anecdata: I bought those coins and withdrew those same coins from those exchanges first. Even at banks when I've withdrawn more than $10,000 cash, and have made $10,000+ wire transfers, no one cares. Where are you getting these ideas from?

RandomBacon 6y ago

I don't understand people who insist on using a cryptocurrency that they have to jump through hoops to mix and hope they do it properly, spending lots of time and money on fees, rather than just using a cryptocurrency that is private by default.

Nokinside 6y ago
Cryptocurrency that is anonymous by default has the same problem. You can use it only on the net for small purchases. Every time you try take larger sum of cryptocurrency into the financial system, anonymity becomes a legal burden.
- RandomBacon 6y ago
  > Every time you try take larger sum of cryptocurrency into the financial system, anonymity becomes a legal burden. Not every time. Maybe for some countries or some people. I am a US Citizen and use the US-based exchanges Kraken and Coinbase and have not had a problem with depositing significant amounts of cryptocurrency. (Of course I verified and requested higher limits and reported the capital gains to the IRS).
  - Nokinside 6y ago
    >depositing The problem rarely happens during depositing as the source of money is known. It's the withdraw you must worry about, especially if you have deposited significantly less than what you withdraw. In the US FinCEN is extra strict and US money laundering regulations are tough.
    - RandomBacon 6y ago
      That makes even less sense. Further anecdata: I bought those coins and withdrew those same coins from those exchanges first. Even at banks when I've withdrawn more than $10,000 cash, and have made $10,000+ wire transfers, no one cares. Where are you getting these ideas from?