Topic: [ANN] ChipMixer.com - Bitcoin mixer / Bitcoin tumbler - mixing reinvented - page 16. (Read 92462 times)

Thinking about it, I don't remember seeing a person who has ever experienced a problem while using ChipMixer.
Since the service has been in existence, we would have already seen many and many people talking about it.
That's 5-6 years now...

Which exchangers (KYC or non-KYC) accept funds from ChipMixer without issues if there are any?

The FAQ works with Tor Browser's Security Level "Safer" or "Standard". With Tor settings on "Safest", you get this:

The FAQ does not seem to open in TOR browser

Only allows website features required for static sites and basic services. These changes affect images, media, and scripts.

Frequently Asked Questions

General Questions

How does deposit work?
ChipMixer creates Bitcoin addresses and funds them with specific sizes. These are chips with 0.001 BTC, 0.002 BTC, 0.004 BTC and so on till 8.192 BTC. When you deposit your Bitcoins, you receive same amount in chips.
For example you deposit 0.112 BTC and you receive 0.064 + 0.032 + 0.016 chips. Each chip was funded before your deposit, so there is no link between them and your deposit on blockchain. They are already anonymous.

Minimum deposit is 0.001 BTC - lowest chip size. If you deposit less then you have to deposit missing amount to receive a chip.
Second minimum deposit is 0.002 BTC. If you deposit between 0.001 and 0.002 BTC you will receive only 1 mBTC chip and rest will be autodonated.

If you deposit 0.1234 BTC (123.4 mBTC) you will receive 123 mBTC chips. 0.4 mBTC will be autodonated.

Are you using Segwit now?
Yes, Segwit usage is over 70% which makes non-Segwit inputs less common.

Deposit addresses are now Segwit bech32.

New chips are Segwit bech32 but you may still get some old chips.

Why my Segwit chips are empty?
They may look empty for your wallet but they are not.

Is your wallet Segwit-compatible? If not then you cannot access them with it.

If you are using Electrum then you have to add prefix "p2wpkh:" before each private key displayed at step 3. You can also click at "Import to Electrum" button for easier import.

What can I do with chips?
You can split big chip into two small ones ie. 0.064 BTC chip into two 0.032 BTC chips.

You can merge two small same-sized chips into big one ie. two 0.032 BTC chips into 0.064 BTC chip.

You can donate a chip to pay for our service. If you only have big chips, you can split them before donating.

Finally, you can withdraw a chip or all chips. This will reveal their private keys you can import into your Bitcoin wallet.

Why should I use split/merge function?
To add random element into mix. Let's say you've sent 0.52 BTC You have received one 0.512 BTC chip and one 0.008 BTC. Blockchain analysis can prove that one of 0.512 BTC chips originating from here is yours. Since you can use split/merge, nobody knows if you've withdrawn big or small chips. It is not required to use, but existence of this option increases your privacy.

Why should I use donate function?
Donate allows you to change possible output value. Even if blockchain analysis may assume you will receive permutation of chips, they cannot predict how much you've donated. As with split / merge, you don't have to use it - existence of this option increases your privacy.

What fee do you take? How much does it cost?
We use Pay what you want as pricing strategy. It mean you set how much value our service is to you.

You may split chips into size you wish to donate.

Chip questions

Why chip values are so weird? 1.024 BTC? Why not 1 BTC?
We wanted to have a lot of chip sizes and to easily split/merge them. if you start with 1 BTC and you split it, your minimal chip is 0.015625 BTC which seems even weirder.

But 1.024 BTC is so uncommon that everyone will know I've used this mixer!
After a while it will get more common, because you won't even need to use mixer to anonymize your coins. Just split them into tokens and they look exactly like chips.

I really, really want 1 BTC chip!
You are in luck! We have introduced commonize function which will swap your weird looking 1.024 BTC chip into 1 BTC chip and weird looking 0.512 BTC into 0.5 BTC.

Using this action will cost you the weird part of chip which is around 2% fee.

Do you know withdrawn private key?
Sadly, yes, we have created them and as long as two people knows private key, either of them can move funds. When you withdraw a chip, you receive a copy of private key encrypted on the mixer's server. You are free to sweep it yourself, ask us to send it to your address or keep it on chip for a while. Only the last option keeps your funds vunerable to our dishonesty, but it also extends your privacy. If you sweep funds from chip in first 12h after your input, you receive same privacy as you would get from standard mixer. If you trust us (as you already did when you sent coins into mixer) and spend chip when you need it, then you achive maximum privacy you can get.

Privacy questions

Why withdrawal to private key?
After you've received private key, you can spend them right away without waiting for our transaction. But that's not all. Since your withdrawal is not visible on blockchain, it looks like your chip was moved a few days before your deposit. Time Travel! Third, less spectacular element this method gives you is that you decide when to move those coins next. Few days? Few seconds? Who knows, you are not encumbered with our solution. Fourth, when you are in a hurry, you can set higher fee to have your transaction included in first block. It's your money after all.

How long do you keep logs?
Your session lasts for 7 days. After that, your session and all its data will be removed. You can also destroy your session before time is up. We keep statistical data ie. how much was donated.

Fungibility? Why would I care?
Let's hear the expert:

First of all I was going to explain what we mean by fungibility before bitcoin and ecash. It's an old legal concept in fact, about paper currency. It's the idea that a one ten dollar note is the same as any other ten dollar note. If you receive a note that was involved in a theft, 10 transactions ago, and the police investigate the theft, they have no right to remove the ten dollar note from your pocket. It's not your fault that it was involved in a previous crime. And so bank notes actually have serial numbers, so it would be possible for a stolen note to be traced back to you.

This first arose, there was a 17th century court case where a wealthy merchant sent a couple of high-value bank notes to a colleague in the post and they never arrived. Before he sent them, he was quite paranoid that they would get stolen. He wrote down the serial numbers and made a mark on them. Sure enough they didn't arrive, so he put in a complaint with the bank, and evenutally the notes turned up at the bank. He tried to get the bank to return the notes to his ownership. The courts sided with the bank. Their reason was that if notes could be returned to their original owner after a theft, it would damage confidence in currency and it would be bad for business, the currency would become unusable because every time you received the paper note you would have to look in the newspaper whether it was reported stolen, or you would have the risk of it being taken, or you would have to rush to the bank to deposit it so that it was the bank's problem.(...)

Then we arrive at this problem of taint tracing. Because it's not very private, some people took an interest in tracing coins and I think the motivation was that there's a number of high-profile thefts of coins from exchanges and other businesses, and that's a problem for those businesses and they went out of businss because of it. Some people would like to put distance between themselves and coins that were used in illicit use. There is a law that says that currency is fungible, but because you can somewhat tell where a coin was used before, people started to care. Coin validation proposed to offer as a service to trace coins and try to give you a rating about how the history of the coin from your point of view and to offer that as a service to businesses. I think this could be quite dangerous because it goes back to that 17th century court case where now you could receive a coin that is perfectly valid at the time that you receive it, but a few weeks later a crime is uncovered and now your coin is tainted. So if this coin validation service is advicing many of the merchants where you would want to spend your coin at, it's tainted and now the merchant would refuse to accept your coin. That's a strange experience for you; you're holding a coin that you might have to sell at a discount to get rid of it. The aggregate effect of this might create a run on the bitcoin price. So it reopens this long-set legal principle that currency or currency units are all equal.

http://diyhpl.us/wiki/transcripts/bitcoin-adam3us-fungibility-privacy/

Other Questions

What will happen if I send less than lowest chip?
Since we don't have chips lower than 0.001 BTC, your deposit will be treated as donation. Be aware that if you send 0.0015 BTC, you will receive one 0.001 BTC chip. Sending 0.0015 BTC twice will result in two 0.001 BTC chips.

How much time do I have to send input transaction?
You have 7 days to deposit, mix and withdraw private keys. You can extend it for another 7 days if your input transaction is stuck in mempool.

What are vouchers?
Every other mixer takes one big input and returns few smaller ones. This is good for privacy because inputs and outputs are harder to link, but it is bad for fees. While using ChipMixer, you can always deposit non-withdrawn chips and receive voucher code. When you redeem it, you will get the same amount back and you can use multiple voucher codes. This allows you to make many unconnected deposits and withdraw one big 4.096 BTC chip.

What is a signed receipt?
Our goal is to make Bitcoin value independent of its blockchain history. Some governments and corporations wants to invalidate its value by claiming they are connected to something immoral like gambling. Every time you withdraw from ChipMixer, we give you cryptographically signed receipt that proves you have received those funds from us. Since the disconnection of history is proven, there can be no loss of value.

If you had multiple people to send funds to then this makes sense (and withdrawing 4 equal sized smaller chips compared with 1 big chip is obviously going to do better to hide the trace between the funds you deposited and withdrew - especially if you withdraw at different times).

If you're paying for multiple things or multiple people, it might also be useful for hiding the link between you and them (especially if you're paying them different amounts for a similar service or something).


The general recommendation I've seen from research on this is 2-7 days normally delivers maximum privacy at hiding the link between your deposits and withdrawals.

would you split chips multiple times to aid privacy?

And would you leave chips for a while before withdrawing?

Thumbs up for ChipMixer, using it for years, best service, never had a single problem.

If ChipMixer is indeed a honeypot, then the data they gather wouldn't be used to catch small or even medium-sized criminals. It's about getting a few big fish - the robberies that are in the hundreds of millions. If every $20m or $40m hack was pursued using privileged data, people would catch on pretty fast and the honeypot would become worthless

May I request that future questions or concerns about the theory be directed to me via DM either here or on Twitter? While I have thought this through carefully and likely have explanations for all of your concerns or rebuttals, I'd prefer not to turn this thread into a back and forth about ChipMixer being a honeypot, because ultimately it's just a theory and it probably shouldn't be discussed at length in their official business thread.

At the risk of going off-topic I think there are a lot of complex reasons why the Mini-Madoff hasn't been charged with any crimes, not the least of which is that this particular megascammer is a megadoner to the megascam more commonly known as the Democratic Party.

I think you probably fall on all of this categories, using wiNd0ws, leDgEr

and vouching that FatManTerra as a ''reasonable guy'' so much that you helped him with his bet and you get paid for that

Lol, we do love dkbit98 just as he is, harsh tones and all.  To avoid those harsh tones don't shill for Microsoft or Ledger, and don't bash on ChipMixer.  If you can avoid those missteps, he can be a real sweetheart.  

megascammer Sam Bankman-Fried would be in jail by now.

If ChipMixer is indeed a honeypot, then the data they gather wouldn't be used to catch small or even medium-sized criminals. It's about getting a few big fish - the robberies that are in the hundreds of millions.

That's exactly what an undercover state actor would say, though, right?

Besides; providing more info about themselves, how they are funded and whatnot, could dramatically increase their chance of getting busted like Tornado.

What I'm trying to say is: the whole argument / discussion is pointless. Waste of everyone's time, really. You can't prove or disprove any of this.

No; this is just a combination of the 'harsh tone' I mentioned earlier and dkbit98's unique character. We love him just the way he is, though!

Sorry for any inconvenience I may have caused to anyone in the thread.