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Does anyone here use Bitcoins?
Deozaan:
I've been using Coinbase for my exchange. If anyone else is interested in checking them out, you can use my referral code and we both get ~$10 worth of bitcoins if you ever purchase $100 of bitcoins or more (it can be over multiple transactions).
They have a nice interface and make it simple to know important information such as: How many bitcoins are in your account, how much those bitcoins are worth in your local currency, and the current exchange rate between BTC and your local currency. They even have mobile apps which allow you to access your information and buy/sell/send/receive bitcoins on the go. I like Coinbase. :Thmbsup:
For a non-referral link, click here.
Deozaan:
If you want to get rid of any linkage, it's pretty easy. You can deposit coins in an exchange, then withdraw a few days later. That isn't a guarantee, but it vastly increases the probability that you don't receive any of your "old" coins.
-Renegade (November 11, 2015, 11:11 AM)
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Can you go into a little more detail about this? Perhaps specifically with how this would work with Coinbase? I was under the assumption that any bitcoins I deposited into Coinbase went into a wallet that belonged to me. So sending them all to Coinbase and then withdrawing them a few days later would just link everything to one address, and then everything from that address would come out into my new wallet, still linked.
Or do you mean sell them all off for fiat currency and then re-buy them all a few days later? Or something else entirely?
wraith808:
Just an update to my CoinJar experiment:
ID verification was completed within 3 hours of uploading relevant info, this now lets me transfer up to AU$2500/day into the CoinJar account.
One bank account linked and verified within 6 hours, two remaining bank accounts linked and verified within 48 hours.
Linking a bank account isn't necessary since you can still deposit to your CoinJar account by using BPAYw, (up to 24 hours to process), or POLiw, (up to 48 hours to process).
If nothing else these guys are ridiculously efficient.
-4wd (November 12, 2015, 08:27 PM)
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Asher and the guys at Coinjar have worked ridiculously hard against incredible resistance to get things working. I've talked to him about some of those problems on a number of occasions.
What's funny is that both Asher and I have the same problems in using Coinjar due to neither of us being Australian. There are extra hurdles there. He's a good sport about it though.
-Renegade (November 13, 2015, 02:00 PM)
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Can you use CoinJar if you're not from AU? Looks interesting...
wraith808:
It's gone down about $10 since I started looking for ways to buy BTC locally (about an hour).
-Deozaan (November 10, 2015, 04:38 PM)
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Hell its dropped almost $70 total today. If highend can wait till Saturday he might just get it for a song by then. I can't afford to move any of mine right now, I'm to far under water.
-Stoic Joker (November 10, 2015, 10:31 PM)
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This is my hesitation in getting in... I just want some for purchases, not for investment. But it's *still* scary!
Renegade:
If you want to get rid of any linkage, it's pretty easy. You can deposit coins in an exchange, then withdraw a few days later. That isn't a guarantee, but it vastly increases the probability that you don't receive any of your "old" coins.
-Renegade (November 11, 2015, 11:11 AM)
--- End quote ---
Can you go into a little more detail about this? Perhaps specifically with how this would work with Coinbase? I was under the assumption that any bitcoins I deposited into Coinbase went into a wallet that belonged to me. So sending them all to Coinbase and then withdrawing them a few days later would just link everything to one address, and then everything from that address would come out into my new wallet, still linked.
Or do you mean sell them all off for fiat currency and then re-buy them all a few days later? Or something else entirely?
-Deozaan (November 13, 2015, 03:20 PM)
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Let's do an example.
Say I buy something from you -- a pair of nuclear powered anti-fart underwear -- but the cops are coming down on people for that. You want to "clean" your bitcoins, so you:
* Deposit BTC in Cryptsy
* Buy LTC from Cryptsy
* Pull out LTC to a new LTC wallet on your computer
* Transfer LTC to BTC-e (then delete or abandon that LTC wallet)
* Sell LTC for BTC on BTC-e
* Transfer BTC from BTC-e to your "clean" wallet
Rinse and repeat as you like across different exchanges. The more you do, the "cleaner" it gets.
In more linear terms:
Deposit > Buy crypto > Crypto wallet > Deposit > Sell crypto for crypto (BTC or other) > Clean wallet
Or:
BTC > LTC > DOGE > XYZshitcoin > BTC
All done in different places.
You can sell for different cryptocurrencies at different exchanges. If you're using Bter, BTCChina and others, the trail will get very cold very quickly. Tracing anything would require the full cooperation of all the exchanges, which isn't likely to happen.
You can even transfer between different accounts on 1 exchange, making it all the more difficult.
You never touch fiat currency at all. Fiat has stronger AML and KYC regulation on it, which makes it harder to do with your own money what you want to do.
And you can always buy/sell through Localbitcoins, which will only make things harder if anyone wants to track anything.
That's just 1 way.
There are "mixers" that will mix coins for a fee. The end result is that it's impossible to tell where the coins came from.
For Coinbase, just pull them out and do the above, then send coins back.
However, what I've described above takes some effort, and really isn't necessary unless you're doing some really, very seriously shady stuff. Or anything seriously illegal, like contract killing.
You can completely screw up any kind of "tracking" by doing 1 simple step from above and depositing into a new wallet. If anyone is tracking you, like an ad company, or marketing company, you've just screwed them by creating an entirely new wallet that isn't linked to you. They could try to do pattern matching, but honestly... that's grasping at straws and they're unlikely to ever be able to do that, ever.
(I am missing some highly technical points above, but I've been conservative. For more information you can look into how wallets treat "change". Also look into "dust". It's probably not worth your time.)
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