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Topic: How can tainted coins becomes hard to be recognized by centralized services - page 3. (Read 626 times)

legendary
Activity: 1498
Merit: 4776
I do not know where this topic will belong, the reason I created it here.

Normally, people using centralized services and exchanges can not have privacy, that is why it is better to make use of decentralized platforms all through for anything related to bitcoin transactions. But I have noticed there are some times there will be no option than to use centralized service, like a newbie friend that is asking you to send him coin into a centralized exchange account, or transferring from your noncustodial wallet to a gambling platform, or buying a product from a store that uses a generated invoice of a centralized wallet, or some other reasons that you will not have option than to send into centralized service platform.

Recently, I was reading about ricochet using some articles I found online by Samourai wallet, I read about it and it is very easy to understand, it consists of 5 hops (hop 0 to hop 4). In the hop 0, I would have to pay mining fee which is also required for the other hops fee in which the bitcoin sent will be transferred from one address to another until the hop 4 which is the destination address. I read it is about a way tainted Bitcoin can become unnoticed by centralized platforms.

The last bitcoin transaction I made required only $0.3 worth of bitcoin as transaction fee, and the coin was confirmed less than 2 minutes after I broadcasted the transaction (I know the estimated confirmation time is 10 minutes in average, so please do not quote this because it is what actually happened). Although, the mempool was not congested at all, which is a great opportunity that ricochet can be done with low fee. Although, I may not have to use Samourai wallet for it as I can simply send my Bitcoin from one address to another address until I am pleased, which can be done on electrum.

Also, someone told me that 12 hops is the best, and which I can make it more which I will prefer while fee is low. It is very certain that not all tainted coins are seized by centralized platforms, they will only look for transaction history from certain address that sent in the past.

My questions
* Since I have been on this forum, I have never heard of Samourai wallet before (although I have known the wallet since a year or two ago), is the wallet not recommendable? Or is there any vulnerability seen in the wallet that makes people to abstain from using it?

* Is Samourai wallet advisable to be used for the Ricochet? If the wallet is not recommended, that gives the answer already

* how many hops is best for Ricochet? Because I can even use my electrum wallet to manually do it and increase the hops, that is, sending it from one address to another with low fee until I am satisfied.

I am only learning more about privacy.
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