Bitcoin Forum

I've been using BTC for many years now, but never really looked into the possibility to track bitcoins.

My question is:

Lets say a person have 1 btc that he would want to use on a thing like darkweb, won't it be laundered if he deposit it to a dice site or gambling site, tip himself on another account and then withdraw it? I mean, if he deposited 1 to the site and then withdraw it, isn't the bitcoin he receive probably another coin?

Hope you understood my question?



//
Changed the subject, since I'm not looking for the possibility to laundry my money, I was curious if it works doing as my example

Yes, but in that particular case the one you got will be traceable to you.

You need to get bitcoin back that cannot be associated with you.

yes. I have seen quite a few people done that in primedice. deposit and tipping to other account without even betting (we can see their stats to see if they gambled or not).

of course the 1 btc can be traced back to me, but if i deposit and lets say I wait a week before i withdraw, but first tip another account. The the btc I withdraw wouldn't be the one I bought? Doesn't the bitcoins on dice sites all goes in the same pocket, like a mixer?

Yes, correct.

The blockchain trail is lost, but you still have to obfuscate your identity with the website.

That part I know ;P just didn't know if the trail was lost or not by doing like that ;P Thanks for the answer!

The answer is yes, if you tip another account and withdraw from it, you can launder it that way.
Here's another method: Deposit into btc-e, go to finances-withdraw-create btc-e code. Your bitcoin will be in form of an redeemable btc-e code.
Now just open up another account and redeem the code. There is not even a fee for btc-e code transfers.
Just a not tho, i think new accounts created can't withdraw for 24 hours , some sort of safety rule.

Unless your coins come from an exchange which has your personal information I wouldn't really bother trying to launder.

On the other hand, if your coins are from Coinbase, you won't have much of a choice.

Having bitcoins is laundering itself, since you can use services to add on hiding to trace the locations.

But in itself though its a money transmitter so, laundering money is not that hard as long the value stays the same for a period. The only people using it for laundering is the volatility which they dislike.

Why are so many helping with trying to launder?   I think darkweb/laundering are not really what we should push for.

We want more adoption from "regular" users.  Yes darkweb exists but we should not be helping someone get coins to it.

lol  ;)
It was just thought I had, used darkweb as an example. I'm one of them that want's btc to become accepted everywhere. So not supporting darkweb at all.

So I hear you. Changed the subject too

But if you have used multiple sites (say, your wallet→PrimeDice→SatoshiDice→DaDice→your wallet) in the process, each individual site can't trace your coin unless they all share their customer information.

which they might be required to do if LE gets involved to a certain extent; using a mixer to erase any and all taint is a better option imo.

it does not matter if they can track your addresses back as long as your ID associated with it is safe, you should not care too much

bitcoin is pseudo anon because of this, while it may be easy to go back to the first address of the ramification it's not so easy to associate it to a name

Your bank account is private, your bitcoin spending habits also should be.

Fun reading  :D


Exactly, btc is a decentralized currency for a purpose, NO GOVERMENT CONTROL. Wasn't that what Satoshi ment with it?  ;) ;)


and they still need to prove that it really was me sitting by the computer i guess

It is possible but it's not really effective as it is still quite easily traced(as another person said there is logs for deposits and withdrawals). But maybe a more complex operation would work better - something like converting your BTC to another currency then convert it back.

Or, more simply, use cash.

the site will know what you did.

other people may know too if they can get info from the site

take it into consideration

Of course, and I don't do darkweb, it was just a thought i had. That's why i change the first post.


About changing it to other currency was one of my thoughts too. I mean it must put a extra layer on the track.
Cash isn't possible on services like agora and such. I was thinking of the vendors and buyers there, why they don't get busted when i started the thread and how they get their earned btc into cash without a trace

It depends on which process take that bitcoins

and it won't be untraceable for the owner of the site