7 ms·

Can't we just open a mtgox account, deposit and then withdraw?

• gojomo 14y ago
  MtGox knows who you are, and is not a secret underground operation thumbing its nose at The Man. Over the long run, you should consider them as transparent as any major, bailed-out bank.
  • jevinskie 14y ago
    Correct. Zerocoin is a way to make it mathematically difficult (read: likely infeasible in practice) to de-anonymize instead of trusting a central party. Cool stuff!
    • gizmo686 14y ago
      Mathematically difficult does not mean infeasible in practice. Not even mathematically impossible means infeasible in practice. Having a solid theory is a good start, but a minor oversight in the implemantation could doom the system.
• deleted 14y ago
  [deleted]
• pjscott 14y ago
  The article addresses this: > For the more paranoid, there are services called 'laundries' that take in bitcoins from a whole bunch of users, mix them up and shuffle them back out. In theory this makes it hard to track your money. Unfortunately, laundries suffer from a few problems. First, they only work well if lots of people are using them, and today's laundries have relatively low volume. More importantly, you're entirely dependent on the honesty and goodwill of the laundry itself. A dishonest (or hacked) laundry can steal your coins, or even trace its inputs and outputs -- which could completely undermine your privacy.