OROBTC (OP)
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March 08, 2014, 12:17:19 AM |
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... My friend was right to send me here. Thanks, "B.I."! I really like this place. *** I have three questions involving bitmixer.io and sharedcoin.com. Both of these seem to be services where I would send my BTC, and "out the other end" they would land in another wallet, purportedly much harder to trace back to me. All of my wallets/transactions now have enough "taint" so that talented people could examine my BTC activity, and I would like to better preserve my privacy. So..., 1) Am I understanding those two services correctly (in layman´s terms)? 2) Which is more secure, or perhaps better stated, which do you prefer? 3) Are they (or at least one of them) easy to use? Newb guy like me does not want to use gambling services. Muchas gracias! |
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amspir
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March 08, 2014, 12:41:13 AM |
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Using the sharedcoin method, assuming that the javascript code wasn't hacked in some way, you keep control of the bitcoin at all stages of the process.
Using a mixing service, you are trusting that your bitcoin goes into a black box and will come out the other end. You have to trust that the mixing service isn't going to steal your coins.
Here's the problems that I see in keeping your anonymity:
With a mixing service that doesn't enough traffic from other people, it would be fairly easy to trace the funds through the service. You are at the mercy of their own mixing method.
With sharedcoin, you will be generating a chain of transactions that probably all end up in the same block on the blockchain. Each transaction will look fairly unique, many multisig inputs to many outputs. Your source address can be traced to an output exiting a tree of these special transactions. If the source address and optional change address are known, it would be fairly easy to find the exit point if the amount is unique or large.
I use sharedcoin myself because of its trustless design, but I'm not going to fool myself in thinking that it makes my coin completely anonymous.
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OROBTC (OP)
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May 01, 2014, 12:29:54 AM |
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Bump, because I need some guidance! I am considering using a mixing service for my BTC, and I would like to know the pros & cons as well as any recommendatiions that any of you would have.
EDIT: Thanks amspir, I will look into that.
Thank you to all!
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Peter R
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May 01, 2014, 12:39:05 AM |
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Bump, because I need some guidance! I am considering using a mixing service for my BTC, and I would like to know the pros & cons as well as any recommendatiions that any of you would have.
EDIT: Thanks amspir, I will look into that.
Thank you to all!
Do you have a blockchain.info webwallet? If not, why don't you set one up and try it out? Once your wallet is set-up, you can use the "sharedcoin" feature to improve the privacy of your transactions. The more relays you select (I think 3 is the default) the more "mixed up" the link between sender and receiver become (but each relay adds 5 cents and maybe 10 - 20 seconds of wait time). Just play around with small transactions (I think 0.01 BTC is the minimum) to see if you like it. Note that this does not remove all taint between sending and receiving address. There is still a link, but it is mixed with many many other equally strong links. I think sharedcoin is ideal if your goal is improved privacy. |
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OROBTC (OP)
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May 01, 2014, 05:19:17 AM |
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... Thank you, Peter R. Yes, I have a blockchain.info wallet, and OK, I hope to try sharedcoin.com tomorrow. I will report back what happens. |
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Peter R
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May 01, 2014, 05:33:54 AM |
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Hey OROBTC, If you already have a blockchain.info wallet, then just login to the webwallet, click "send money" and then "shared coin" and you should see:  (I didn't show the entire screen for privacy reasons) Basically, you just fill in the address you want to send the coins to, how many repetitions, and then press "send." As a test, you can just send coins to an another address in your blockchain wallet to see how it goes. |
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OROBTC (OP)
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May 01, 2014, 08:21:45 PM |
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... Thank you Peter R, I tried sharedcoin.com. Am waiting on more confirmations (one so far, transaction done perhaps 20 mins ago).  |
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counter
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May 02, 2014, 01:49:46 AM |
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I've never tried the services but the process should be good for some type of anonymity in my opinion. Please post your thoughts on how easy the process what to use, thanks.
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OROBTC (OP)
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May 02, 2014, 02:52:53 AM |
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... OK, my use of sharedcoin.com was a success. It took some 5 - 6 minutes to go through (gathering BTC from others to mix I would guess, and four iterations), and then maybe 45 minutes or so to confirm three times. So, a little bit slow, but I've got the time... I used my wallet there at blockchain.info as the sending wallet, and another (MultiBit) to receive. It was not (and still is not) clear to me if I can go the "other way" (sending from MultiBit to blockchain), NOR is it clear to me that I can create another blockchain wallet. Assuming I can figure out how to do one or both of those, then that would almost be enough for pretty good anonymity. "PGA" !!Perhaps tomorrow I will try out bitmixer.io. It looks like it may have a different way of mixing coins, if so, another safety layer!  |
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OROBTC (OP)
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June 10, 2014, 08:03:40 PM |
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... zahra, that is why I now use BOTH sharedcoin.com and bitmixer.io on each of my latest transactions (switching among my different wallets) to "hide the trail" a little better. It´s a hassle, but should resist easy attacks. I am still interested to hear about other mixing services and all of your opinions on them. |
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zahra4571
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June 11, 2014, 03:09:59 PM |
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Never use this services, just found out on news and want to share with you to see your opinion. What is faster service bitmixer or sharedcoin?
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OROBTC (OP)
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June 11, 2014, 03:46:48 PM |
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... zahra (in Peru now, foreign keyboard does not let me use the "at") bitmixer.io seems to work OK for me. Both took about the same amount of time on the average, call it one hour for everything including confirmations of transactions. Using BOTH services (in a row) seems to cover up the trail pretty well (intermediary wallets each and pretty little taint using BOTH). YMMV! I am NOT an expert but AM very interested in this subject. |
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