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Author Topic: Please look over my strategy to anonymize bitcoins  (Read 4112 times)
fivemileshigh
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February 15, 2012, 03:40:01 PM
 #1

After buying them on MtGox, I would transfer them to an address on another exchange. Then, via TOR, after a few days, transfer them to a blockchain.info wallet, then again via tor another few days later to paper wallet addresses for long term storage.

I am trying to make it impossible to prove that I still have the btc originally purchased on mtgox. This way, someone would have to crack mtgox, the second exchange and the blockchain.info wallet to prove I still have them, right? Do you guys see any flaws with the plan?

many thanks!

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MacRohard
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February 15, 2012, 03:46:08 PM
 #2

After buying them on MtGox, I would transfer them to an address on another exchange. Then, via TOR, after a few days, transfer them to a blockchain.info wallet, then again via tor another few days later to paper wallet addresses for long term storage.

I am trying to make it impossible to prove that I still have the btc originally purchased on mtgox. This way, someone would have to crack mtgox, the second exchange and the blockchain.info wallet to prove I still have them, right? Do you guys see any flaws with the plan?

many thanks!



seems reasonable to me.. maybe trade into litecoins, solidcoins, namecoins etc and then out via a different exchange.

For example buy soildcoins on btc-e and then sell them on solidcoin24.com.

You also could do the same thing using liberty reserve or maybe bitinstant on the USD side of the trade.. sell the coins for LR or bitinstant and then move the LR or bitinstant to another exchange and buy bitcoins there.

There's even another way you could do it.. List something forsale on bitmit.net - then when someone buys it, drop ship it from amazon using one of the bitcoin -> amazon gift voucher services. You get new bitcoins from the buyer.
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February 15, 2012, 03:56:25 PM
 #3

After buying them on MtGox, I would transfer them to an address on another exchange. Then, via TOR, after a few days, transfer them to a blockchain.info wallet, then again via tor another few days later to paper wallet addresses for long term storage.
Not bad, but if you keep moving the exact same amount around, that would seem to make it more traceable. You might buy random amounts of Bitcoin at intervals and move random amounts (that are smaller or larger than the original purchases) through the other services?

BTC: 1CDCLDBHbAzHyYUkk1wYHPYmrtDZNhk8zf
LTC: LMS7SqZJnqzxo76iDSEua33WCyYZdjaQoE
kjj
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February 15, 2012, 05:20:12 PM
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The flaw is that no one needs to prove what you think they need to prove.

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February 15, 2012, 05:31:35 PM
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The flaw is that no one needs to prove what you think they need to prove.

This.
bracek
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February 15, 2012, 05:55:35 PM
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buy a wallet.dat over the counter and later do some dispersive sendings
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February 15, 2012, 06:28:09 PM
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Solution:

Use BitInstant to do an anonymous cash deposit at one of the four big banks (you just drop off cash to the special account - no name/ID is needed typically). You'll get an exchange account funded (which should be set up with pseudonymous information) within an hour. Then buy the coins. Already at this stage, nobody knows you have them. Then, follow the steps you outlined, move them around in different amounts, on different days. Use tor or a Starbucks in the next town over.

Irony about this strategy is that it's the US Government's own cash bills which make it possible Smiley
mcorlett
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February 15, 2012, 06:31:30 PM
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Remember to use Instawallet's "Green Address" feature, but don't withdraw the same amount you deposited - instead, take it out in smaller chunks in order to make it significantly more difficult to correlate the transactions.

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February 15, 2012, 06:34:23 PM
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Remember to use Instawallet's "Green Address" feature, but don't withdraw the same amount you deposited - instead, take it out in smaller chunks in order to make it significantly more difficult to correlate the transactions.

+1
btc_artist
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February 15, 2012, 11:52:58 PM
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Solution:

Use BitInstant to do an anonymous cash deposit at one of the four big banks (you just drop off cash to the special account - no name/ID is needed typically). You'll get an exchange account funded (which should be set up with pseudonymous information) within an hour. Then buy the coins. Already at this stage, nobody knows you have them. Then, follow the steps you outlined, move them around in different amounts, on different days. Use tor or a Starbucks in the next town over.

Irony about this strategy is that it's the US Government's own cash bills which make it possible Smiley
Your anonymous cash deposit might not be so anonymous if they can link the deposit to a specific date/time and get surveillance camera data. Tongue

BTC: 1CDCLDBHbAzHyYUkk1wYHPYmrtDZNhk8zf
LTC: LMS7SqZJnqzxo76iDSEua33WCyYZdjaQoE
terrytibbs
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February 16, 2012, 03:24:11 PM
 #11

Solution:

Use BitInstant to do an anonymous cash deposit at one of the four big banks (you just drop off cash to the special account - no name/ID is needed typically). You'll get an exchange account funded (which should be set up with pseudonymous information) within an hour. Then buy the coins. Already at this stage, nobody knows you have them. Then, follow the steps you outlined, move them around in different amounts, on different days. Use tor or a Starbucks in the next town over.

Irony about this strategy is that it's the US Government's own cash bills which make it possible Smiley
Your anonymous cash deposit might not be so anonymous if they can link the deposit to a specific date/time and get surveillance camera data. Tongue
For full disclosure: Erik is affiliated with "BitInstant", which gets a commission every time you use their service, so his opinion might be fairly biased.
btc_artist
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February 16, 2012, 03:25:30 PM
 #12

Solution:

Use BitInstant to do an anonymous cash deposit at one of the four big banks (you just drop off cash to the special account - no name/ID is needed typically). You'll get an exchange account funded (which should be set up with pseudonymous information) within an hour. Then buy the coins. Already at this stage, nobody knows you have them. Then, follow the steps you outlined, move them around in different amounts, on different days. Use tor or a Starbucks in the next town over.

Irony about this strategy is that it's the US Government's own cash bills which make it possible Smiley
Your anonymous cash deposit might not be so anonymous if they can link the deposit to a specific date/time and get surveillance camera data. Tongue
For full disclosure: Erik is affiliated with "BitInstant", which gets a commission every time you use their service, so his opinion might be fairly biased.
I thought he was associated with CryptoXChange?  Is he also associated with BitInstant?

BTC: 1CDCLDBHbAzHyYUkk1wYHPYmrtDZNhk8zf
LTC: LMS7SqZJnqzxo76iDSEua33WCyYZdjaQoE
terrytibbs
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February 16, 2012, 03:34:29 PM
 #13

For full disclosure: Erik is affiliated with "BitInstant", which gets a commission every time you use their service, so his opinion might be fairly biased.
I thought he was associated with CryptoXChange?  Is he also associated with BitInstant?
Here you go, bro.
https://bitcointalk.org/index.php?topic=63128.0
btc_artist
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February 16, 2012, 03:37:17 PM
 #14

Thanks for the link Terry.

BTC: 1CDCLDBHbAzHyYUkk1wYHPYmrtDZNhk8zf
LTC: LMS7SqZJnqzxo76iDSEua33WCyYZdjaQoE
fivemileshigh
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February 19, 2012, 09:40:48 PM
 #15

The flaw is that no one needs to prove what you think they need to prove.

This.

My intuition says you guys have something important to say here but my creaky old brain can't figure it out. Little help please?

goodlord666
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February 20, 2012, 06:34:27 AM
 #16

Keeping your Bitcoins in motion and splitting amounts up generally increases your anonymity, but beware:

Juggling around with your money too much tends to end in mistakes and possibly lost BTC, especially when you're driven by paranoia rather than "criminal intent".

Just sayin...


EDIT: quotation marks

payb.tc
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February 20, 2012, 07:04:49 AM
 #17

Your anonymous cash deposit might not be so anonymous if they can link the deposit to a specific date/time and get surveillance camera data. Tongue

exactly, and even if you were able to hide your face, your gait is often uniquely identifiable... so you know, jump around like a chimp to throw them off.
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February 20, 2012, 07:21:32 AM
 #18

The flaw is that no one needs to prove what you think they need to prove.
+1

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btc_artist
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February 20, 2012, 05:32:55 PM
 #19

Your anonymous cash deposit might not be so anonymous if they can link the deposit to a specific date/time and get surveillance camera data. Tongue

exactly, and even if you were able to hide your face, your gait is often uniquely identifiable... so you know, jump around like a chimp to throw them off.

Hide you face, disguise you gait, and they'll still be able to get a DNA match from a hair that falls to the floor as you clearly scratch the back of your head on camera....

BTC: 1CDCLDBHbAzHyYUkk1wYHPYmrtDZNhk8zf
LTC: LMS7SqZJnqzxo76iDSEua33WCyYZdjaQoE
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February 21, 2012, 12:49:13 AM
 #20

Send them to a silkroad account then move them off. SR performs "laundry" on their coins.

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