Should i change my BTC Wallet Address ?

[ranochigo]

They'll ask the next question: "How did you get the funds?". Plausible deniability isn't the same as a plausible answer.

A P2P real life transaction? It would be perfectly legitimate in most jurisdiction and they wouldn't have a good reason to ask you to provide a concrete proof, even if that is possible. Most real life or OTC marketplace wouldn't have any paper trails.

From what we've observed so far, most (or at least all that I've heard of) account closures comes with a direct link to a violation of the TOS. Whilst they can argue for a solid explanation provided with all of the transaction proofs or receipts, the reality is that most of the funds are already tainted and it would be unreasonable for the KYC to be this thorough for all of their clients.

Of course, I concede that it isn't a foolproof method but its the reality that exchanges are facing with regards to tainted coins.

[1715001979]

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[hugeblack]

I don't think that matters for chain analysis, unless funds are joined with other inputs to create multiple outputs. And at the moment it costs a small fortune in transaction fees.

I'm not talking about chain analysis, but about most CEXs. They all try to adhere to regulatory standards, but they want a fast and secure user experience. They do not do a deep analysis of the chain, but rather track the last 5 transactions and make sure that all the addresses in them are not on any blacklist.

If you are committing criminal activity or there is someone trying to track you, this method will not help you.

[Pmalek]

A P2P real life transaction? It would be perfectly legitimate in most jurisdiction and they wouldn't have a good reason to ask you to provide a concrete proof, even if that is possible.

There doesn't need to be a paper or digital trail of a P2P transaction. You met someone. The topic of Bitcoin came up. You wanted to buy some, the person agreed to sell it to you. That's where everything begins and ends. It's not illegal and and you haven't done anything wrong buying that way.

[virasog]

A P2P real life transaction? It would be perfectly legitimate in most jurisdiction and they wouldn't have a good reason to ask you to provide a concrete proof, even if that is possible.

There doesn't need to be a paper or digital trail of a P2P transaction. You met someone. The topic of Bitcoin came up. You wanted to buy some, the person agreed to sell it to you. That's where everything begins and ends. It's not illegal and and you haven't done anything wrong buying that way.

Buying face to face also minimizes the risk involved in online P2P trading (where there are some chances of scam) but usually it is hard to find a person who will want to do a P2P transactions as most people wants to remain anonymous and also it becomes even more difficult to find such a person in the country where the bitcoin is not legal.

However, doing a face to face P2P transaction can be another way to get rid of your traces of the coins as you are exchanging (converting to fiat or any stable coin / altcoin) from a real person and not from any exchanger.

[Pmalek]

@virasog
When you are doing a face-to-face transaction there are still a few things you should be careful about. For instance, you could receive fake bank notes and end up scammed that way. Also, there is the threat of getting robbed and even physically injured.
But you can remain anonymous trading this way. The other person doesn't need to know your real name and there is no exchange of personal details.

[Yamane_Keto]

@virasog
When you are doing a face-to-face transaction there are still a few things you should be careful about. For instance, you could receive fake bank notes and end up scammed that way. Also, there is the threat of getting robbed and even physically injured.
But you can remain anonymous trading this way. The other person doesn't need to know your real name and there is no exchange of personal details.

From your bank account, the other party can know your real name and facial features, can track you to know your residential address, and with a simple search can know your work, the number of your family members, and from there all the necessary information about you. and paying in cash may lead you to be part of the Money laundry. risks resulting from a face-to-face transaction are higher than online P2P, and the risks of online P2P can be reduced by using escrow and dealing with trustworthy people.

[Z-tight]

Buying face to face also minimizes the risk involved in online P2P trading (where there are some chances of scam) but usually it is hard to find a person who will want to do a P2P transactions as most people wants to remain anonymous and also it becomes even more difficult to find such a person in the country where the bitcoin is not legal.

It is not safe to just find people who want to do a f2f tx from just anywhere, it is easy to get connected with scammers and thieves, for f2f trades, it is recommended to use p2p exchanges like bisq, as they allow you link up with people who also want to trade f2f with you.

From your bank account, the other party can know your real name and facial features, can track you to know your residential address, and with a simple search can know your work, the number of your family members, and from there all the necessary information about you. and paying in cash may lead you to be part of the Money laundry.

I disagree, the other party can know your name through your bank payment, but only that isn't enough to track you down to your residential address, where you work or the number of your family members, that is too much information that can possibly be gotten by just your name, except you give your trading partner more information about you.

[apogio]

It is not safe to just find people who want to do a f2f tx from just anywhere, it is easy to get connected with scammers and thieves, for f2f trades, it is recommended to use p2p exchanges like bisq, as they allow you link up with people who also want to trade f2f with you.

In fact, for me BISQ is even more private than finding someone and trading f2f. We should run our own node and connect BISQ to it over TOR. Then, this system is very secure and of course, very decentralised.

Alternatively people can use Robosats. Many people use Umbrel or Start9 for their nodes. These implementations support Robosats as a plugin and it is fairly easy to use.

Finally, there are exchanges like the one on my signature (and of course many more) that people can use to exchange between currencies. A list of them can be found here: https://kycnot.me/.

[virasog]

@virasog
When you are doing a face-to-face transaction there are still a few things you should be careful about. For instance, you could receive fake bank notes and end up scammed that way. Also, there is the threat of getting robbed and even physically injured.
But you can remain anonymous trading this way. The other person doesn't need to know your real name and there is no exchange of personal details.

I don't think there is a much risk for the scam notes while doing a face to face transactions because both the parties know about the local currency notes and it is not easy to decieve them on this basis.

However, yes i agree that there can be chances that the other party may have wrong intentions and they may stole our coins or money through gun point etc but in order to minimize this risk, better ask them to meet in public crowded place and also we should not go alone, but may take one of our close friend or brother with us.

Finally, to be extra careful, do not go meet the other person in order to have a big deal. Make smaller deals one at a time, so that the other person know that scamming such moderate amounts won't be any beneficial for him.

[apogio]

Finally, to be extra careful, do not go meet the other person in order to have a big deal. Make smaller deals one at a time, so that the other person know that scamming such moderate amounts won't be any beneficial for him.

I agree in general, but there is a safety problem.

I would meet someone outside a bank, on working hours, so I would tell them to send me the sats and I would, at the same time, withdraw the money from the bank.

This would be safer I guess.

In my country some banks allow you to withdraw money with a temporary pin code, so you could not meet the other person at all, but you could instead give him the pin code to go and withdraw it themselves. Of course with this approach they don't get any information about you. The only problem is that you don't have an escrow.

[Pmalek]

It is not safe to just find people who want to do a f2f tx from just anywhere, it is easy to get connected with scammers and thieves, for f2f trades, it is recommended to use p2p exchanges like bisq, as they allow you link up with people who also want to trade f2f with you.

Scammers could also be roaming around Bisq looking for victims they could take advantage of in P2P trades for the same reasons you mentioned: they want meetings face-to-face and want to deal with cash.

I disagree, the other party can know your name through your bank payment, but only that isn't enough to track you down to your residential address, where you work or the number of your family members, that is too much information that can possibly be gotten by just your name, except you give your trading partner more information about you.

People share way too much about their private lives on social media. Information about their work, life-partners, friends, and relatives is available for free. It's a good starting point for someone looking to find out more about you.

[virasog]

I would meet someone outside a bank, on working hours, so I would tell them to send me the sats and I would, at the same time, withdraw the money from the bank.

This would be safer I guess.

In my country some banks allow you to withdraw money with a temporary pin code, so you could not meet the other person at all, but you could instead give him the pin code to go and withdraw it themselves. Of course with this approach they don't get any information about you. The only problem is that you don't have an escrow.

The above option is better where you will get the money from the bank as soon as the other person transfer you the bitcoins but the second option of using a PIN to withdraw still needs to be a face to face transaction.

If you are not present on the spot, the other person will never send you the bitcoin first, as you can receive bitcoin and never send them the PIN to withdraw the cash. If anyone is willing to become Escrow in this case, then the Escrow will need to show his presence physically with person who will get money from the bank through PIN. This scenario becomes a bit complicated and also risky for the seller of the bitcoin.