Bitcoin Exchanges , a "Free" alternative to mixers ? - page 2.

PaulPogba8

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Quote from: OmegaStarScream on August 30, 2016, 02:22:08 PM

I was really wondering If exchanges could be considered as a free alternative for Mixers like Bitmixer ? Mixers make transactions confusing to whoever is trying to track you , and I guess It's the same thing for exchanges as you don't own your address but there are transactions coming to and going from your address.

I was looking to my address at CoinsBank (AKA bit-x) and I couldn't find much about the addresses I was withdrawing to and there is also transactions that I didn't make in the first place . So yeah , could exchanges be an alternative ? (at least a cheaper/free one)?

It seems right, because your withdrawals from exchanges are transferred from exchange's hot/cold wallet, so daily transactions are a lot, people can't trace your withdraw, at least they can't know your bitcoin address to another wallet.

iv4n

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Guess this can be done with little fees and transferring money into altcoins then in other exchanger into bitcoins again.
Probably even that can be followed, but if its true that someone can follow coins from beginning to the end then all stolen founs from the past would be found. Well nobody found them and hackers are still free. Lets ask them how and where they mixed stolen coins. They would give us best answer.

Pursuer

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well, mixing coins has kind of a big definition. it is not just taint analysis and not being able to know where the coins ended up.

yes for regular users it is possible to do it but only if you trust the exchange service enough to deposit and withdraw there because even 1 minute of deposit can be risky on exchanges that are getting hacked left and right.

but for some, who don't want anybody to be able to track them it is not a good idea to use an exchange for mixing because the exchange service is obligated to keep logs of all the transactions so it can easily be tracked.

LoyceV

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Short answer: yes

Long answer: mixers (say they) don't log transactions. Exchanges log everything. If you've provided your real identity to the exchange, you make it easier to find you instead of making it harder.
I guess it depends on who you're trying to hide from. If it's law enforcement, they're likely to get information anyway (assuming they can find which address belongs to which exchange). Then again, if you go through several exchanges in several countries, and add a few online casinos to your chain, it takes a lot of effort to track you.

CraigWrightBTC

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I think more be anonymous using bitcoin mixing services are like bitmixer or cryptomixer, because they don't asking about verification when use their service, it is different with markets who ask about our indentity.

Carlsen

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An exchange can always have financial problems you do not know of.
Or even being hacked, just at the moment where you deposit your money there.
And they charge fees for every transaction and withdrawl.
A bitmixer just sends the coins around, at least as far as I know.
I see a much lower risk in using a bitmixer than in using an exchange.

MyBTT

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Quote from: OmegaStarScream on August 31, 2016, 01:35:14 AM

Quote from: Golftech on August 31, 2016, 12:17:23 AM

Quote from: drwtsn32 on August 30, 2016, 11:26:22 PM

You can consider exchanges a cheaper alternative, but not free. They charge transaction fees right?
Aside from that, using exchanges does not satisfy the need of "anonymizing" your coins. Because exchanges require you to provide your identity information.

that's the saddest truth because you needed to provide private info to exchange in order for you to use their service in full and it is not really safe or use as a mixers for your bitcoin mate.

I'm speaking from an experience when I say that CoinsBank didn't ask me for any real information's (at least not for the moment) as I didn't ask for the Visa card or wanted to rise limits and I'm not trading fiat , BTC coming in and going out only.

No popular exchange asks you for your ID unless you are depositing Fiat or withdrawing into Fiat. Anything related to fiat you will have to verify, because that's usually the local law. But since there are no laws against cryptocurrencies, you can trade it for another cryptocoin or Fiat credit without limitations.

OmegaStarScream

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Quote from: Golftech on August 31, 2016, 12:17:23 AM

Quote from: drwtsn32 on August 30, 2016, 11:26:22 PM

You can consider exchanges a cheaper alternative, but not free. They charge transaction fees right?
Aside from that, using exchanges does not satisfy the need of "anonymizing" your coins. Because exchanges require you to provide your identity information.

that's the saddest truth because you needed to provide private info to exchange in order for you to use their service in full and it is not really safe or use as a mixers for your bitcoin mate.

I'm speaking from an experience when I say that CoinsBank didn't ask me for any real information's (at least not for the moment) as I didn't ask for the Visa card or wanted to rise limits and I'm not trading fiat , BTC coming in and going out only.

Kakmakr

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I would not throw the FREE label around, when it comes to exchanges. They have fees too, and sometimes these fees are much higher that Mixer services. Also, some exchanges are operated by incompetent people with poor security, as we have seen with many exchanges being hacked over the years.

How many Mixer services do you know, that have been hacked?

Wind_FURY

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The problem with centralized entities is the authorities could force them to release information they need to trace the transactions of the target. So be careful if you think you are safe and anonymous by using the exchanges to "mix" your coins. Not even Bitcoin mixers can be fully trusted because the authorities can do the same to them.

Backside walkaround

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Quote from: Golftech on August 31, 2016, 12:17:23 AM

Quote from: drwtsn32 on August 30, 2016, 11:26:22 PM

You can consider exchanges a cheaper alternative, but not free. They charge transaction fees right?
Aside from that, using exchanges does not satisfy the need of "anonymizing" your coins. Because exchanges require you to provide your identity information.

that's the saddest truth because you needed to provide private info to exchange in order for you to use their service in full and it is not really safe or use as a mixers for your bitcoin mate.

What about yobit and such exchanges? I don't think I had to provide much info at all, but I don't deposit cash. Just bitcoin and altcoins. And when I used cryptsy i specifically remember not having to give them anything other than an email addy. I think the kyc requirements are much less when you don't use cash.

Yakamoto

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Quote from: OmegaStarScream on August 30, 2016, 02:22:08 PM

I was really wondering If exchanges could be considered as a free alternative for Mixers like Bitmixer ? Mixers make transactions confusing to whoever is trying to track you , and I guess It's the same thing for exchanges as you don't own your address but there are transactions coming to and going from your address.

I was looking to my address at CoinsBank (AKA bit-x) and I couldn't find much about the addresses I was withdrawing to and there is also transactions that I didn't make in the first place . So yeah , could exchanges be an alternative ? (at least a cheaper/free one)?

It could probably be argued as to whether or not they are decent when it comes down to being a decent alternative for a mixer, however it definitely is ok when it comes down to making it difficult to take your coins. What goes in will be very hard to find when it comes out. However anyone who has access to the website's data can find out who you are, so it isn't necessarily good unless you take steps to anonymize yourself on the exchange first.

Herbert2020

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it is not exactly free, and especially not free on coinsbank because they charge a percentage fee (if i am not mistaken it was 0.5% fee) on withdrawals unlike other exchanges where they only charge a fixed 0.0002BTC fee on withdrawals.

but you are right about the rest of it and i have said it before too, exchanges are a good way of mixing coins for the average Joe only.

Golftech

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Quote from: drwtsn32 on August 30, 2016, 11:26:22 PM

You can consider exchanges a cheaper alternative, but not free. They charge transaction fees right?
Aside from that, using exchanges does not satisfy the need of "anonymizing" your coins. Because exchanges require you to provide your identity information.

that's the saddest truth because you needed to provide private info to exchange in order for you to use their service in full and it is not really safe or use as a mixers for your bitcoin mate.

drwtsn32

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You can consider exchanges a cheaper alternative, but not free. They charge transaction fees right?
Aside from that, using exchanges does not satisfy the need of "anonymizing" your coins. Because exchanges require you to provide your identity information.

pooya87

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Quote from: OmegaStarScream on August 30, 2016, 02:22:08 PM

I was really wondering If exchanges could be considered as a free alternative for Mixers like Bitmixer ? Mixers make transactions confusing to whoever is trying to track you , and I guess It's the same thing for exchanges as you don't own your address but there are transactions coming to and going from your address.

I was looking to my address at CoinsBank (AKA bit-x) and I couldn't find much about the addresses I was withdrawing to and there is also transactions that I didn't make in the first place . So yeah , could exchanges be an alternative ? (at least a cheaper/free one)?

yes and no.
i don't know about bit-x (coinsbank) because they recently changed how their addresses work whereas before it wasn't like this. you deposited in your address and it remained there unlike other exchanges.

but technically it is possible to mix your coins this way and cut the connection and i have done it myself although you have to trust that exchange service to deposit your money and be able to withdraw it afterwards.

MyBTT

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It's true that exchanges act just like mixers, because they are off-chain. the one key difference is that it's 100% that the exchange is logging your addresses and transactions, especially after the Bitfinex hack. At least with mixers, it's likely that they're legit and don't log anything.

Hohenn

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Quote from: LordCoder on August 30, 2016, 08:07:23 PM

Quote from: marky89 on August 30, 2016, 07:38:57 PM

Quote from: skylighters on August 30, 2016, 07:21:34 PM

its not a mixer at all and it is possible to trace the addresses i believe

1) Use a US IP address (VPN) to register an email address on mail.com.
2) Set up a BTC-E or 1Broker account with VPN using the anonymous email address.
3) Deposit and withdraw coins. In the case of 1broker, wait until your deposit has been sweeped (otherwise they may send the same outputs directly back to you).

Yes, there is a still a point of failure -- the VPN. Use a no-log VPN. Even then, can't be sure. Maybe Tor --> VPN.

Well I guess you need to have blackhat Bitcoins to do that anyways. If you definitely just need to hide from someone (not cops) you'll just use it without proxies.

Yeah you'd need rather shady sources for those btc and I'm not sure how I feel about it. But in principle using an exchange could perfectly work as a sort of mixer.

LordCoder

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Quote from: marky89 on August 30, 2016, 07:38:57 PM

Quote from: skylighters on August 30, 2016, 07:21:34 PM

its not a mixer at all and it is possible to trace the addresses i believe

1) Use a US IP address (VPN) to register an email address on mail.com.
2) Set up a BTC-E or 1Broker account with VPN using the anonymous email address.
3) Deposit and withdraw coins. In the case of 1broker, wait until your deposit has been sweeped (otherwise they may send the same outputs directly back to you).

Yes, there is a still a point of failure -- the VPN. Use a no-log VPN. Even then, can't be sure. Maybe Tor --> VPN.

Well I guess you need to have blackhat Bitcoins to do that anyways. If you definitely just need to hide from someone (not cops) you'll just use it without proxies.

shinratensei_

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Quote from: OmegaStarScream on August 30, 2016, 02:22:08 PM

I was really wondering If exchanges could be considered as a free alternative for Mixers like Bitmixer ? Mixers make transactions confusing to whoever is trying to track you , and I guess It's the same thing for exchanges as you don't own your address but there are transactions coming to and going from your address.

I was looking to my address at CoinsBank (AKA bit-x) and I couldn't find much about the addresses I was withdrawing to and there is also transactions that I didn't make in the first place . So yeah , could exchanges be an alternative ? (at least a cheaper/free one)?

That's right because we can generate a new address if we wanna making a transaction of depositing. like we are wanna for depositing into the x site and we can generate a new address for sending them. i think exchanges is simple mixers.

Topic: Bitcoin Exchanges , a "Free" alternative to mixers ? - page 2. (Read 1920 times)