3 ms·

> The exchanges refuse our money if it has ever passed through a privacy service I'd love to learn more about this, does anyone have relevant links or info?

magicjosh 5y ago
Here's a relevant episode of the ZK Podcast about cryptocurrency mixers: https://zeroknowledge.fm/111-2/ https://zeroknowledge.fm/111-2/
shubhamkrm 5y ago
It's called "tainted Bitcoin". Basically, you can get a list of all transactions a coin was involved in since it was minted. If any of those transactions contain a blacklisted address, exchanges would refuse the token.
ur-whale 5y ago
> I'd love to learn more about this, It's worse than this. Coinbase, for example, will close your account if you use you Bitcoins for things they don't approve of AFTER you withdraw them.
- AlexandrB 5y ago
  This is... remarkable. Many cryptocurrency advocates have promoted bitcoin by making exaggerated claims regarding fiat currency's centralized control and lack of privacy. Now bitcoin itself exhibits the very characteristics that were often claimed about fiat currency, except it's not an exaggeration.
  - jakupovic 5y ago
    Easy solution don't use Coinbase. It's not the end of the world.
    - ur-whale 5y ago
      > Easy solution don't use Coinbase I most certainly don't. But the hordes of clueless users who continue to flock to the platform are blissfully ignorant of that fact. Worse, the fact that coinbase is behaving in a way that's completely violating the spirit of Bitcoin while profiting from it doesn't solve the problem that what they are doing is possible because of a severe limitation of the platform. I am a big and very long time fan of Bitcoin, but the traceability / fungibility issue has bugged me from day one. I really wish the dev. community would focus on introducing a fork with an technical solution to this problem instead of polishing the turd with minor stuff no one really cares about like taproot.
danuker 5y ago
Look up AML regulations in your jurisdiction. They typically have a transaction risk level and I assume somehow the anonymity ups that risk.

magicjosh 5y ago

Here's a relevant episode of the ZK Podcast about cryptocurrency mixers: https://zeroknowledge.fm/111-2/ https://zeroknowledge.fm/111-2/

shubhamkrm 5y ago

It's called "tainted Bitcoin". Basically, you can get a list of all transactions a coin was involved in since it was minted. If any of those transactions contain a blacklisted address, exchanges would refuse the token.

ur-whale 5y ago

> I'd love to learn more about this, It's worse than this. Coinbase, for example, will close your account if you use you Bitcoins for things they don't approve of AFTER you withdraw them.

AlexandrB 5y ago
This is... remarkable. Many cryptocurrency advocates have promoted bitcoin by making exaggerated claims regarding fiat currency's centralized control and lack of privacy. Now bitcoin itself exhibits the very characteristics that were often claimed about fiat currency, except it's not an exaggeration.
- jakupovic 5y ago
  Easy solution don't use Coinbase. It's not the end of the world.
  - ur-whale 5y ago
    > Easy solution don't use Coinbase I most certainly don't. But the hordes of clueless users who continue to flock to the platform are blissfully ignorant of that fact. Worse, the fact that coinbase is behaving in a way that's completely violating the spirit of Bitcoin while profiting from it doesn't solve the problem that what they are doing is possible because of a severe limitation of the platform. I am a big and very long time fan of Bitcoin, but the traceability / fungibility issue has bugged me from day one. I really wish the dev. community would focus on introducing a fork with an technical solution to this problem instead of polishing the turd with minor stuff no one really cares about like taproot.

danuker 5y ago

Look up AML regulations in your jurisdiction. They typically have a transaction risk level and I assume somehow the anonymity ups that risk.