Topic: [ANN] ChipMixer.com - Bitcoin mixer / Bitcoin tumbler - mixing reinvented - page 131. (Read 92456 times)

What could be a reason for using a mixer if everything is legit? Just curious

The thing with anonymous mixers such as the late BitMixer and the current ChipMixer is that there is absolutely no way to tell if money is being laundered. The blockchain could be analyzed to find similar inputs or outputs that could relate back to money laundering, but nothing is really certain. The way ChipMixer works at least basically makes analyzing the transactions for relations impossible, which means that identifying this is practically impossible. In turn, this makes governments not like it since illegal activity *could* be happening but there is no way to prove it. Because of this, regulations may be created to limit mixing activity or classify it itself as flat out money laundering itself. So as you see it's not only about there existing illegal activity, but also the potential for it.

What could be a reason for using a mixer if everything is legit? Just curious

What could be a reason for using a mixer if everything is legit? Just curious

Since you've mentioned about darknet and FBI, makes me wonder in which country was Chip Mixer established?
There are some exchanges that avoid US regulations about high taxes and decided to move out of the state, and there maybe there are some countries that have less strict rules.
I do not recommend to move the Chipmixer base, but as long as we do such fair business without illegal activities such as money laundering, then it should be fine.

If someone is afraid to be shut down from their servers by governments, I'd like to suggest hosting servers on decentralized domain services if there

Are any? or do we really need something like Bitcoin? being strong enough with enough network spread to render any government unable to shut down.

Another solution could be hosting servers on a country where US government, or any western governments couldn't reach like Iran.

After FBI operating child pornography website and darknet market Hansa for weeks, do you still believe warrant canaries? They do not play by the rules anymore.

What could be a reason for using a mixer if everything is legit? Just curious

Why should I mix my coins?

While using bitcoins is an excellent way to make your purchases, donations, and p2p payments, without losing money through inflated transaction fees, transactions are never truly anonymous. Bitcoin activities are recorded and available publicly via the blockchain; a comprehensive database which keeps a record of bitcoin transactions.

All exchanges require the user to scan ID documents, and large transactions must be reported to the proper governmental authority. When you use Bitcoin to pay for goods and services, you will of course need to provide your name and address to the seller for delivery purposes.

This means that a third party with an interest in tracking your activities can use your visible balance and ID information as a basis from which to track your future transactions or to study previous activity. In short, you have compromised your security and privacy.

To avoid this, we recommend using a quality mixing service such as the one we provide to periodically exchange your bitcoins for different ones which cannot be associated with the original owner. In order to further enhance the security of your transactions we provide the opportunity to use two or more forward addresses as well as convenient time delays. In addition, we immediately delete all archival logs related to your transactions.

10 BTC is around $25,000. Mixing 200 BTC means mixing $500,000. Do you need to mix half a million in one transaction?

ChipMixer, have you considered adding a warrant canary?
It would be good to have a "defense" against this type of thing, so your users can know if something happens.

But if the level of traffic stays high for longer, you'll get back to normal, right?

If ChipMixer has - say - 100 Bitcoins, and someone wants to mix 200, it's nice to know up front that won't be possible.

Also, if yesterday's ChipMixer users will get "newer" Bitcoins back, how do you guarantee they don't get their own Bitcoins back? Especially if you don't keep logs of who deposited which coins.

Hopefully Chipmixer can try to clear the image of a bitcoin mixer, so that it is not only used for buying drugs and whatnot but rather protecting your privacy when using bitcoin which is obviously a public ledger.

ChipMixer, have you considered adding a warrant canary? Some people are speculating that BitMixer was under pressure to shut down by a government, given that they suggested Zerocoin and DASH, which aren't very good for privacy (especially Zerocoin - ZCash is a lot better), instead of the better alternatives.

It would be good to have a "defense" against this type of thing, so your users can know if something happens.

Bitmixer was a massive outfit... If you read the closing down thread, Bitmixer claims their service was valued at 5-6 million...

First, due to unexpected amount of traffic, all prepared chips were withdrawn (there were not enough for this demand)

ChipMixer, have you considered adding a warrant canary? Some people are speculating that BitMixer was under pressure to shut down by a government, given that they suggested Zerocoin and DASH, which aren't very good for privacy (especially Zerocoin - ZCash is a lot better), instead of the better alternatives.

It would be good to have a "defense" against this type of thing, so your users can know if something happens.

it is always their own fault for slipping. they do all the security measures for their servers then they use same credentials for their emails in multiple places and leak a lot of their information. i believe that was how they caught them.

chips you will withdraw now will be created after deposit which is one of the reasons why ChipMixer gives more privacy than other mixers. In this case, due to traffic, we could not offer that to you.

~ Both markets were protected by Tor and yet servers were located and one of them was made honeypot. An owner of one of the markets had four luxury cars and lot of money so everybody was asking - why keep risking a good life to provide darknet service? BitMixer owners probably asked it themselves and the answer was - it is not worth it anymore.

I could sell the business for our competitors for $5-6M

The news is not that great for a few reasons.

First, due to unexpected amount of traffic, all prepared chips were withdrawn (there were not enough for this demand), which means that some of you may have received less chips and a voucher for a missing sum. If you are one of those, you can now use your voucher. Why is it bad? Because chips you will withdraw now will be created after deposit which is one of the reasons why ChipMixer gives more privacy than other mixers. In this case, due to traffic, we could not offer that to you.

Second, if your competition stops for an unknown reason then it is never a good sign. They say it was a change of heart. Probably not true. But they did not do an exit scam so that is not big lie.
Why BitMixer left? If you check the news, you know that two big darknet markets were shut down by police. Both markets were protected by Tor and yet servers were located and one of them was made honeypot. An owner of one of the markets had four luxury cars and lot of money so everybody was asking - why keep risking a good life to provide darknet service? BitMixer owners probably asked it themselves and the answer was - it is not worth it anymore.

Today was a bad day for online privacy and bitcoin users. Thank you BitMixer for your work, you will be missed.


Lets hope we will not choke on that cake.

-snip-

First, due to unexpected amount of traffic, all prepared chips were withdrawn (there were not enough for this demand), which means that some of you may have received less chips and a voucher for a missing sum. If you are one of those, you can now use your voucher. Why is it bad? Because chips you will withdraw now will be created after deposit which is one of the reasons why ChipMixer gives more privacy than other mixers. In this case, due to traffic, we could not offer that to you.

OP what details or proofs you needed I can provide and lets make that quick because my session might end in next 48 hours.