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These are all terrible uses of Bitcoin, as mentioned in the OP. All transactions are publicly visible in an immutable database. With a little investigation, law
by brokencode 6y ago
These are all terrible uses of Bitcoin, as mentioned in the OP. All transactions are publicly visible in an immutable database. With a little investigation, law enforcement can find out who owns certain accounts and trace transactions very easily from there. If you are a criminal, you want no paper trail whatsoever, which is why they use paper money.
- colinmhayes 6y agoBitcoin is pseudonymous if you take enough precautions i.e. always use tor, only use addresses once, coin join everything before converting.
- deleted 6y ago[deleted]
- brokencode 6y agoI guess that’d work if you’re the guy from White Collar or something, but I’m not sure your average criminal would have the attention to detail and knowledge to get that all right. And one misclick or bug can pretty much seal your fate. You are right though that you can take measures to make it much more difficult to trace.
- corty 6y agoPrecautions on that or higher levels of expense and complexity, like burner phones, dead drops, networks of couriers, cell and gang org structure are standard procedures in organized crime. Un"organized" single small criminals might have a larger fraction of bad opsec, but they aren't all stupid. A few will be caught by making mistakes, but the rest will learn from that. Criminal methods undergo evolutionary pressure.
- NicoJuicy 6y agoNever heard of crypto mixing obviously
- brokencode 6y agoWhat happens when the NSA hacks the mixing services or congress passes a law forcing them to store information for law enforcement? Surely the mixing services know at least for a certain amount of time where the coin is coming from and going to.
- corty 6y agoI think those laws might already exist, imho anonymous mixing could be prosecuted under the relevant money laundering laws.