Bitcoin Mixing Services Were Never Meant to Be A Part of Digital Currency
Whether or not Bitcoin mixing services will ever be very useful to the Bitcoin ecosystem, remains to be seen for now. Digital currency was never intended to be anonymous, and any service claiming to provide something else requires users to put their funds and faith into the hands of a third party. Plus, users have to rely on Tor to access certain Bitcoin mixing services, which only makes the whole process even more complicated. Not to mention how there is always a risk of losing funds. Bitcoin Mixing Is Not For Everybody. There are several ways to go about using a Bitcoin mixing service.....
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Is it possible for you to mix your Bitcoins with other people’s Bitcoins, and at the same time profit from it? Mixing companies claim it is - but there is a risk. Privacy is not just for criminals. Many people think that mixing services are primarily used to launder Bitcoins obtained through fraudulent or illegal means. This is not necessarily the case. Privacy is important for everybody. Criminals should not know how wealthy you are, strangers should not be aware of how you spend your money. This is a reason why Bitcoin mixers - Eg. Bitmixer.io - have grown their businesses. Trust is an....
Larry Dean Harmon ran the first bitcoin mixing services targeted with criminal allegations by U.S. authorities.
As the Dutch proverb goes: “The soup is not eaten as hot as it is served.” Meaning: The threat is often not carried through as thoroughly as initially presented. Bitcoin Magazine recently reported that the investigative arm of the Dutch tax authority — the FIOD — wants to lower the bar for prosecution of unlicensed bitcoin traders. As part of that effort, the FIOD aims to have mixing services recognized as money-laundering indicators. Users of mixing services would be assumed guilty, Dutch financial newspaper Financieele Dagblad (FD) wrote, unless they could prove otherwise. The FIOD has....
NXT, the finance 2.0 blockchain platform, has voted unanimously to implement CoinShuffle, a coin mixing anonymity technique to NXTcoin and other 'Monetary System' tokens. Implementation is expected on the next major release. A vote was posed to the community this July 18 on whether the coin mixing implementation would apply just to MonetarySystem (MS) tokens or also to NXT's core token, NXTcoin. After only a day, the community's response was incontrovertible with nearly 100% of the votes supporting coin mixing implementation to NXTcoin. The votes will be weighed on July 26 based how much....
As the first-ever technical workshop devoted to bitcoin research convened on the island of Barbados on 7th March, it was clear from the outset that several academic papers would be exploring various methods to compensate for bitcoin's inherent lack of anonymity. For now, it's an academic endeavour, but it underlies the fundamental principle known as 'freedom of transaction'. The International Financial Cryptography Association (IFCA), which organised the conference, has been at the center of this research work for 18 years. The burgeoning field of applied cryptography drives the....