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Is there any real way to be anonymous while using Bitcoin and actually exchanging it to fiat currency? Are there any exchanges that are not regulated and don't

Is there any real way to be anonymous while using Bitcoin and actually exchanging it to fiat currency? Are there any exchanges that are not regulated and don't require any authentication e.g. an ATM that gives you cash for Bitcoin?

yifanl 5y ago
Define anonymous, but you could in theory sell your wallet to someone else wholesale and they pay in cash for whatever value of bitcoin is in the wallet. It's still potentially leaky because you're relianing on the buyer to not get that traced back to you.
- vander_elst 5y ago
  > define anonymous I guess like for several security topics: the process to find my identity is too expensive/impractical/takes too much time. I mean, we know it is possible to use brute force to crack encrypted data, it just takes a trillions of years or trillions of dollars so it becomes practically impossible.
wmf 5y ago
There's LocalBitcoins but it's under increased law enforcement scrutiny.
x86_64Ubuntu 5y ago
I think this is an old nut that's long been cracked, and the answer is no. With Anti-ML and KYC legislation, it's really difficult for any company to act like an unwitting agent, and still have access to financial system.
kache_ 5y ago
pay your taxes man, it's not worth it but fwiw with monero they don't know where the crypto came from. Technically, you could have mined it in the early days. So as long as you have to report on sale only and not origination, everyone can party on
colinmhayes 5y ago
I mean you can always coinjoin your coins and then use a regulated exchange. They'll be able to tell you used the joiner or tornado but they can't tell where the coins came from. There is also a large is network of people who do meet ups and pay cash for crypto.
infiniteL0Op 5y ago
sbierwagen 5y ago
As this article makes very clear, Bitcoin has been a law enforcement honeypot for more than a decade now. Asking if there's a way to use Bitcoin anonymously is like asking about the best way to walk into a police station, steal a computer off a desk, and walk back out the front door. No, man. The question is the answer. It is going to be very difficult to steal things out of a police station, because it is a police station. "How do I use this law enforcement surveillance network to commit a crime?" Don't!

yifanl 5y ago

Define anonymous, but you could in theory sell your wallet to someone else wholesale and they pay in cash for whatever value of bitcoin is in the wallet. It's still potentially leaky because you're relianing on the buyer to not get that traced back to you.

vander_elst 5y ago
> define anonymous I guess like for several security topics: the process to find my identity is too expensive/impractical/takes too much time. I mean, we know it is possible to use brute force to crack encrypted data, it just takes a trillions of years or trillions of dollars so it becomes practically impossible.

wmf 5y ago

There's LocalBitcoins but it's under increased law enforcement scrutiny.

x86_64Ubuntu 5y ago

I think this is an old nut that's long been cracked, and the answer is no. With Anti-ML and KYC legislation, it's really difficult for any company to act like an unwitting agent, and still have access to financial system.

kache_ 5y ago

pay your taxes man, it's not worth it but fwiw with monero they don't know where the crypto came from. Technically, you could have mined it in the early days. So as long as you have to report on sale only and not origination, everyone can party on

colinmhayes 5y ago

I mean you can always coinjoin your coins and then use a regulated exchange. They'll be able to tell you used the joiner or tornado but they can't tell where the coins came from. There is also a large is network of people who do meet ups and pay cash for crypto.

infiniteL0Op 5y ago

sbierwagen 5y ago

As this article makes very clear, Bitcoin has been a law enforcement honeypot for more than a decade now. Asking if there's a way to use Bitcoin anonymously is like asking about the best way to walk into a police station, steal a computer off a desk, and walk back out the front door. No, man. The question is the answer. It is going to be very difficult to steal things out of a police station, because it is a police station. "How do I use this law enforcement surveillance network to commit a crime?" Don't!