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>the only major cryto with the property of fungibility Yes agreed. Both Bitcoins and ETH tokens can be "tainted" and that taint takes for ever to "diffuse" in
by ur-whale 6y ago
>the only major cryto with the property of fungibility
Yes agreed.
Both Bitcoins and ETH tokens can be "tainted" and that taint takes for ever to "diffuse" in the chain.
This makes some Bitcoins/ETH less valuable than others.
For example, most valuable Bitcoins are newly mined coins (they have no history), whereas a - say - Bifinex hacked Bitcoin carries a pungent smell.
- meowkit 6y agoRemember when we called laundering money that because laundromats were used? Just tumble your coins! https://en.wikipedia.org/wiki/Cryptocurrency_tumbler https://en.wikipedia.org/wiki/Cryptocurrency_tumbler
- ur-whale 6y ago> Just tumble your coins! Much easier said than done: - it costs money - most tumblers aren't safe at all (who's to say they aren't operated by the govt or that they don't keep logs) - in some cases, you might not get your coins back at all Coinjoin for BTC is a better approach, but it's also far from easy to use (need a special wallet) and is basically useless until it sees mass adoption.
- cwkoss 6y agoTumbling crypto never made sense to me: "I don't want the government to know that I made this $50 selling weed, so I'll trade it for $49 dollars from another weed dealer to make it look 'clean'!" Shouldn't you expect that most people paying to use tumblers have a reason to do so, and thus the vast majority of coins from tumblers are tainted as well?