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Author Topic: Is crypto mixer service still profitable?  (Read 67 times)
sonicverth (OP)
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April 08, 2024, 08:02:37 AM
 #1

As a developer i interested to develop some platform like crypto mixer, but i don't really know if it still profitable or not at this trend, any clue?
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April 08, 2024, 10:48:30 AM
 #2

I have no clue either but I'll just give you some threads that might give you more info that are also posted here in the forum.

--> https://bitcointalk.org/index.php?topic=4667343.0

--> https://bitcointalk.org/index.php?topic=5477452.0



.
.BIG WINNER!.
[15.00000000 BTC]


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April 08, 2024, 11:17:30 AM
 #3

As a developer i interested to develop some platform like crypto mixer, but i don't really know if it still profitable or not at this trend, any clue?
before everything else , I would like to advise you that Mixers or mixing company advertisements and links  are already banned in this forum so better try not to break that rules.

and about your question? the US government  is running against some mixing company and I believe that they wanted to shut down everything that hides identity of crypto users specially in their region.

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April 08, 2024, 11:23:46 AM
 #4

Personally, in the current climate, i wouldn't run a crypto mixing service even if that would mean my family would have to seriously cut down on basic expenses... It's just not worth going to jail over running such a service.

On top of this, you need to be a very good coder, since the slightest slip-up in your code could mean that either your mixer gets drained by hackers, or the anonymity of your users is compromised, or your workflow gets messed up, or LE gets on your tail.

Sure, if you don't look at the legal aspect and the risk of bugs/vulnerability's, the costs of running such a service are low, and if everything works flawless the risk of not running a profit is very low since you could basically dynamically adapt your fee based on the current optimal transaction fee + take a percentage... So you're basically guaranteed a (very small) profit on each transaction. You do need a ton of promotion to get some traffic to your site tough.

TL;DR;
Personally, i would strongly advice against running a mixer (and this is coming from a crypto veteran with enough relevant coding experience) because:
  • you will get targeted by law enforcement sooner or later
  • you will probably get targeted by the tax authorities
  • you will need to be an OPSEC specialist
  • you will need to be an excellent coder
  • you will need to invest tons of time to gain a good rep

So, basically, you'll need to invest tons and tons of time (and a little bit of money) and you'll be in constant risk of going to jail, getting audited, getting your mixer drained, hurting your client's anonimity or finances... And in return you'll get profit... For me, it just wouldn't be worth it.

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sonicverth (OP)
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April 15, 2024, 09:11:05 AM
 #5

Personally, in the current climate, i wouldn't run a crypto mixing service even if that would mean my family would have to seriously cut down on basic expenses... It's just not worth going to jail over running such a service.

On top of this, you need to be a very good coder, since the slightest slip-up in your code could mean that either your mixer gets drained by hackers, or the anonymity of your users is compromised, or your workflow gets messed up, or LE gets on your tail.

Sure, if you don't look at the legal aspect and the risk of bugs/vulnerability's, the costs of running such a service are low, and if everything works flawless the risk of not running a profit is very low since you could basically dynamically adapt your fee based on the current optimal transaction fee + take a percentage... So you're basically guaranteed a (very small) profit on each transaction. You do need a ton of promotion to get some traffic to your site tough.

TL;DR;
Personally, i would strongly advice against running a mixer (and this is coming from a crypto veteran with enough relevant coding experience) because:
  • you will get targeted by law enforcement sooner or later
  • you will probably get targeted by the tax authorities
  • you will need to be an OPSEC specialist
  • you will need to be an excellent coder
  • you will need to invest tons of time to gain a good rep

So, basically, you'll need to invest tons and tons of time (and a little bit of money) and you'll be in constant risk of going to jail, getting audited, getting your mixer drained, hurting your client's anonimity or finances... And in return you'll get profit... For me, it just wouldn't be worth it.

Thanks for your advice, at first I just wanted to make this as a fun project, but after thinking about it the risk seemed like it wasn't worth it
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April 15, 2024, 07:41:23 PM
 #6

Thanks for your advice, at first I just wanted to make this as a fun project, but after thinking about it the risk seemed like it wasn't worth it

Mixers are becoming useless anyway.  You don't just need to show your coins were not involved in a scam, soon you will need to prove how you earned them.   The IRS believes that's the best way to catch stolen bitcoin, or so I'm told.

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April 16, 2024, 01:18:06 AM
 #7

As a developer i interested to develop some platform like crypto mixer, but i don't really know if it still profitable or not at this trend, any clue?

Get onto Tor (The Onion Router). You can download and install the Tor Browser from here - https://www.torproject.org/.

Then go to this site - https://onionlinks.com/ - and follow all the links there in the Tor Browser..

Many of the links are mixers in action. They will give you some good ideas about how mixers should be used. Probably using Tor is one of the best ways to mix successfully.

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