BITCOIN FORUM account opened today. So many questions.......lets talk anonymity - page 2.

o_e_l_e_o

legendary

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Quote from: Fatunad on December 30, 2020, 02:12:16 PM

When it comes to anonymity, then as you mentioned on buying coins from coinbase but in the time that you had sent out those coins in other wallet then it would already be enough
when you are really that mattering on anonymity issues. Platform wont know if that wallet on where the coins sent from is actually owned by you or into other person since
transferring out bitcoin from a custodial wallet wont really be that keen to follow if that one is a payment to other person or would just simply a single transaction to transfer to other wallet.

This is not correct. Coinbase monitor all withdrawals from their exchange and employ advanced blockchain analysis technology to track these coins and the people who bought them. If OP bought from Coinbase and wants privacy, then he absolutely must take action here.

Quote from: Akiko on December 30, 2020, 02:16:59 PM

Mixer only use if you want to clean your Bitcoin since you legally bought it from exchange I don't think you still need to do that . You only want is to hide your main address from exchange that you bought your BTC No kyc exchange is enough for that.

This is also not correct. All exchanges, be they KYC or non-KYC, keep logs of deposits, trades, withdrawals, etc., and can be forced at any time to hand that over to governments, law enforcement, three letter agencies, or anyone else who comes knocking or offers to pay. Using exchanges to "mix" coins is probably making your privacy worse, not better. Using real mixers is also for anyone who wants privacy - it has nothing to do with whether the coins were obtained legally or not.

The best advice given in this thread is from ranochigo. If you want to break the link between your coins and your real identity, then you need to use a service which is designed for doing just that, such as ChipMixer to mix your coins, or Wasabi Wallet to CoinJoin them.

RapTarX

hero member

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Quote from: Akiko on December 30, 2020, 02:16:59 PM

Yes you can do that if it's not that big amount you can use binance without the need to verify your account for a limit of 2BTC daily if I'm not mistaken ,you just need to update your account with Google authenticator .

If you are going to use centralize exchange for such purpose, you have messed up. Binance will all the time keep the LOG of your history. So, even though Binance won't know the man behind the tx, Binance will certainly know the BTC origin (where you sent from) and the destination (where you are withdrawing) & thus, they can trace you. On the other hand, a mixer doesn't keep such log if they are good one like CM.

Akiko

full member

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Quote from: Ponce75 on December 30, 2020, 02:05:10 PM

Thanks. I am excited to be part of the cryptoverse. I have brought along a few converts from my family into Bitcoin as well. I intend on HODLing but do not feel comfortable leaving it on the exchanges, especially non KYC exchanges which seem to be useful but shady as all heck. It sounds like sending it to a non-KYC and then sending it back to a new wallet in smaller increments may be a viable option (according to some responses).

I will also research some mixers (already looking at Wasabi Wallet).

Yes you can do that if it's not that big amount you can use binance without the need to verify your account for a limit of 2BTC daily if I'm not mistaken ,you just need to update your account with Google authenticator . Mixer only use if you want to clean your Bitcoin since you legally bought it from exchange I don't think you still need to do that . You only want is to hide your main address from exchange that you bought your BTC No kyc exchange is enough for that.

Fatunad

sr. member

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Quote from: Ponce75 on December 30, 2020, 01:14:54 PM

Can i clean my bitcoin by sending it to an exchange like Houbi, then sell and repurchase, then send it to a brand new wallet?

Or convert to Ethereum wait a few days and then reconvert to bitcoin?
.

When it comes to anonymity, then as you mentioned on buying coins from coinbase but in the time that you had sent out those coins in other wallet then it would already be enough
when you are really that mattering on anonymity issues. Platform wont know if that wallet on where the coins sent from is actually owned by you or into other person since
transferring out bitcoin from a custodial wallet wont really be that keen to follow if that one is a payment to other person or would just simply a single transaction to transfer to other wallet.
If you are really that serious on cleaning your trace then you can actually follow on what you had mentioned here.

Ponce75

newbie

Activity: 3

Merit: 14

Thanks. I am excited to be part of the cryptoverse. I have brought along a few converts from my family into Bitcoin as well. I intend on HODLing but do not feel comfortable leaving it on the exchanges, especially non KYC exchanges which seem to be useful but shady as all heck. It sounds like sending it to a non-KYC and then sending it back to a new wallet in smaller increments may be a viable option (according to some responses).

I will also research some mixers (already looking at Wasabi Wallet).

cr1776

legendary

Activity: 4228

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Quote from: Ponce75 on December 30, 2020, 01:14:54 PM

I used to be the guy that trashed bitcoin but i decided to do alot of research and finally bought in at around 15.5K; needless to say i am happy with my overall return thus far.

Question on anonymity. I bought my Bitcoin from Coinbase (like i said newbie), anyway, I learned what a wallet is and decided to transfer my bitcoin. I also learned i can be tracked via my bitcoin address because of my initial purchase from Coinbase (KYC).

Can i clean my bitcoin by sending it to an exchange like Houbi, then sell and repurchase, then send it to a brand new wallet?

Or convert to Ethereum wait a few days and then reconvert to bitcoin?

Am i overthinking this? Anybody wanna help a brother out. Thanks.

In addition to what others have said above, selling and repurchasing won't buy you much, if anything. Merely depositing it, waiting and then withdrawing a different amount first, and then the balance later would probably do as much. You should make sure you are complying with the laws of your jurisdiction whatever you do though. Converting to ether or something else works too, but if you convert 1.23456789 bitcoins to ether and then the exact same back a few days later, someone might notice.

Much also depends on your goals and timeframe.

- If you intend to hold it for some long time period, you can just leave it where it is. Once taproot is active, it will create some additional privacy improvements that you will be able to use to protect your privacy.
- If you intend to gamble with it now and IF online gambling is illegal in your jurisdiction, then you should consider different options.

So, is your goal to hold or something else?

OROBTC

legendary

Activity: 2940

Merit: 1865

...

Ponce75

Welcome. bitcointalk.org has taught me a LOT over the years. Take your time, read, learn and have fun.

Don't do anything drastic or at large scale until you learn more about the many facets of the Bitcoin Ecosystem. Be specially careful at first, don't ruin more than one day making a big mistake (I've been there).

Anonymity is a big topic:

-- OPSEC (military acronym: Operational Security)

-- TOR and VPNs (TOR is free, a good VPN not too expensive)

-- BTC mixing and coinjoin <== these two topics are discussed at some length at various places here at the Forum.

pealr12

hero member

Activity: 1946

Merit: 502

In addition to what has been said above, let me Welcome you to the forum as this is the right place to be to have all the knowledge you may need in your journey as a bitcoiner,
and also congratulations for making the right decision to buy btc at 15k, now you can relax and smile at your wallet.
And sorry I can't help with the btc mixing stuff since am not knowledgeable in that aspect.

ranochigo

legendary

Activity: 3038

Merit: 4418

Crypto Swap Exchange

Welcome! Glad you've bought early.

While you can send your Bitcoins across various exchanges, it doesn't guarantee that the intermediary exchange will not keep logs and it's thus not beneficial to the privacy.

You can use Wasabi wallet which can incorporate CoinJoin to obfuscate the path of the coins. Alternatively, you can look into using mixers like the one in my signature to get coins that are unlinked. Altcoins like Monero are designed for privacy but it'll mean that you would need to go through another exchange.

Ponce75

newbie

Activity: 3

Merit: 14

I used to be the guy that trashed bitcoin but i decided to do alot of research and finally bought in at around 15.5K; needless to say i am happy with my overall return thus far.

Question on anonymity. I bought my Bitcoin from Coinbase (like i said newbie), anyway, I learned what a wallet is and decided to transfer my bitcoin. I also learned i can be tracked via my bitcoin address because of my initial purchase from Coinbase (KYC).

Can i clean my bitcoin by sending it to an exchange like Houbi, then sell and repurchase, then send it to a brand new wallet?

Or convert to Ethereum wait a few days and then reconvert to bitcoin?

Am i overthinking this? Anybody wanna help a brother out. Thanks.

Topic: BITCOIN FORUM account opened today. So many questions.......lets talk anonymity - page 2. (Read 615 times)