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Author Topic: Bitcoin Mixing  (Read 1543 times)
bitkilo
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August 11, 2014, 03:24:01 AM
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What are some legitimate uses for mixing your coins? If you have done this who did you use and was it quick and safe to do?

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August 11, 2014, 03:54:38 AM
 #2

If you have done this who did you use and was it quick and safe to do?

I haven't used any of those mixing services.
Instead I send my bitcoin to exchanges and casinos and withdraw the bitcoin some time later.

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August 11, 2014, 06:00:25 AM
 #3

What is the point of that action ?
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August 11, 2014, 06:28:49 AM
 #4

I've never used mixing services, but thre is a mixer that has signature programs, like bitmixer.io

It deppends about what level of anonimity you want. You can use casinos and exchanges as mixers, but there are withdraw fees and limits, and also they will store your data, so it is not recommended if you want hide from someone with power or from law.

There are some mixers on Tor that the legends say the Dark Web guys use, but I guess most of them are scams.

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August 11, 2014, 06:33:49 AM
 #5

What are some legitimate uses for mixing your coins? If you have done this who did you use and was it quick and safe to do?
Your own privacy is the main legitimate use. People use exchanges (though exchanges aren't in love with this unless they charge withdrawal fees), any other service that allows deposit and withdrawal like gambling sites, and there are specific mixing services. If you chain a few of them together through users you created over TOR, that should acheive about the best anonymization that you can get.

Thing is, you'll always want to be mindful of what information you're sharing when you spend and which unspent outputs (if more than one) are being combined. When funds sent to more than one address are sent in the same transaction, this typically links those two addresses as having been controlled by the same sender. Coinjoin attempts to weaken that linkage. Basically you can be as anonymous as you want according to the amount of work you want to put into it.

Financial privacy is basically the same thing as trying to be anonymous though you don't have to be as rigorous.
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August 11, 2014, 06:38:21 AM
 #6

The legitimate use is for anonymity, though I don't know why people would care that much if they're legit. I personally wouldnt trust most of these sites. It seems like you're just asking for them to take your coins,.
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August 11, 2014, 07:59:05 AM
 #7

You can use it to mix before using it to buy something online, so that they won't link the BTC address with your name and address.

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August 11, 2014, 08:21:58 AM
 #8

I would not trust these services any of my coins, it is no guarantee that you can get them back.
ranochigo
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August 11, 2014, 08:59:51 AM
 #9

What is the point of that action ?
To increase the anonymity. The purpose of Bitcoin is to make payments without revealing your actual identity. However, the public ledger will record all the transactions and if you do something which you do not want anyone to know, there is a chance the coin will be traced back to you. The coins will be mixed by them sending a bunch of coin which have no connection with your previous output, therefore, no one can trace the coin back to you.














 

 

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FeelTheBeat
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August 11, 2014, 10:59:02 AM
 #10

I think https://bitmixer.io/ is doing that.

Bitcoins101
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August 11, 2014, 11:09:28 AM
 #11

What are some legitimate uses for mixing your coins? If you have done this who did you use and was it quick and safe to do?
Your own privacy is the main legitimate use. People use exchanges (though exchanges aren't in love with this unless they charge withdrawal fees), any other service that allows deposit and withdrawal like gambling sites, and there are specific mixing services. If you chain a few of them together through users you created over TOR, that should acheive about the best anonymization that you can get.

Thing is, you'll always want to be mindful of what information you're sharing when you spend and which unspent outputs (if more than one) are being combined. When funds sent to more than one address are sent in the same transaction, this typically links those two addresses as having been controlled by the same sender. Coinjoin attempts to weaken that linkage. Basically you can be as anonymous as you want according to the amount of work you want to put into it.

Financial privacy is basically the same thing as trying to be anonymous though you don't have to be as rigorous.
Coinjoin still leaves taint though and is not untraceable.

Most of the good mixing services are on the deep web. You'll have to ask around on there to get a good idea.
Bitcoins101
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August 11, 2014, 11:10:38 AM
 #12

I would not trust these services any of my coins, it is no guarantee that you can get them back.
Mixing services are in a business to make money. They charge high fees and make a whole lot of it (money). If a service has a good reputation, they're not going to ruin it to steal a couple BTC.
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August 11, 2014, 11:39:38 AM
 #13

What are some legitimate uses for mixing your coins? If you have done this who did you use and was it quick and safe to do?

Remaining anonymous or just wanting to preserve your privacy. It is no ones business where I got my coins from and also no ones business where I decide to spend them. Due to the blockchain, transactions are traceable (which is a good thing, it holds up the integrity of Bitcoin) but it lowers your chances of remaining anonymous... For this mixing services are a great thing!

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August 11, 2014, 11:50:16 AM
 #14

If you want to buy a good but dont want it to be traced back to you. Doesnt have to be illegal..

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maximuss
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August 11, 2014, 11:52:59 AM
 #15

Only mixing service I would use is bitcoinfog, they still can't be trusted 100% but it's the only one I'd feel comfortable sending larger amounts of btc.

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August 11, 2014, 12:04:16 PM
 #16

Only mixing service I would use is bitcoinfog, they still can't be trusted 100% but it's the only one I'd feel comfortable sending larger amounts of btc.



Yeah, but please read the initial question. The post didn't ask about what mixing services to use, but rather about legitimate uses of those services apart from the obvious illegal ones, where you don't want your coins to be traceable!

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August 11, 2014, 12:07:27 PM
 #17

If you want to buy a good but dont want it to be traced back to you. Doesnt have to be illegal..

Do you even need to use a mixing service for this? You could probably just send it to a bitcoin gambling site and then instantly withdraw it again.
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August 11, 2014, 12:08:07 PM
 #18

What are some legitimate uses for mixing your coins? If you have done this who did you use and was it quick and safe to do?

I don't want people to know how many coins I have. If I send people coins from a big wallet or even an address that's being fed from a big wallet, they'd immediately know how much money I have! I just don't want people to know about that, it's not illegal to keep that for yourself! Smiley

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Bitcoins101
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August 11, 2014, 12:18:25 PM
 #19

What are some legitimate uses for mixing your coins? If you have done this who did you use and was it quick and safe to do?

I don't want people to know how many coins I have. If I send people coins from a big wallet or even an address that's being fed from a big wallet, they'd immediately know how much money I have! I just don't want people to know about that, it's not illegal to keep that for yourself! Smiley
That's generally not worth a 1%+ fee. Just use multiple addresses.
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August 11, 2014, 12:24:17 PM
 #20

If you want to buy a good but dont want it to be traced back to you. Doesnt have to be illegal..

Do you even need to use a mixing service for this? You could probably just send it to a bitcoin gambling site and then instantly withdraw it again.
Yeah, true. However, most gambling sites keep a log of deposits and withdrawals. If they are contacted by the authority, they can hand over your original address and IP address. It is easy to know where it's from since most gambling site have a centralised wallet or a cold storage. Some coin mixers does not keep a log of your information and you can remain anonymous.














 

 

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