How do we trade as anonymous - page 3.

7788bitcoin

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Quote from: BitcoinTurk on May 19, 2020, 04:01:04 PM

Quote

Why the whales want to trade as anonymous?

I just want to answer this question because I have a few ideas about this topic. If we come to the answers;

- In order not to have any trouble with the state,
- In order not to pay taxes on their earnings,
- In order not to disclose their identity,
- In order not to attract attention,
- Easy to control the market without knowing

For these reasons, I think big investors keep their identities anonymous.

If you are trading with a huge amount then you cannot hide from the state and you will be paying the taxes to avoid getting into trouble and you only need to pay the tax if you are converting crypto to fiat.

Majority of the volume takes places in centralized exchanges and can you pinpoint one exchange where you can trade anonymously as a whale Tongue

.
The exchanges will not reveal the identity of the customers unless there is legal issues associated with the customer. So basically the whales are not anonymous like you think Tongue

.

BitcoinTurk

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Quote

Why the whales want to trade as anonymous?

I just want to answer this question because I have a few ideas about this topic. If we come to the answers;

- In order not to have any trouble with the state,
- In order not to pay taxes on their earnings,
- In order not to disclose their identity,
- In order not to attract attention,
- Easy to control the market without knowing

For these reasons, I think big investors keep their identities anonymous.

Twentyonepaylots

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Because who does not want to? Even me I don't want my identity to be published even I'm a small trader, what more for whales? Aside they are protecting their identity for the very purpose of security and safety. If hackers will know who owns a 100 btc, they will run after him searching for all possible backdoors that's why whales are trading anonymously as much as possible. I believe even the exchanges does not know the real identity of some whales out there, whales might just use the identity of his secretary to pass the KYC. Who knows?

ScamViruS

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Not only whale but we also like to be anonymous. But it cannot remain anonymous in the end. Because most of the exchanges want kyc, so you have to give your information to the exchange. The same rule applies to whales, so since (I am not a whale, I can't guarantee this). Grin

If the whale has kyc like us then the exchange knows his identity, but they will not share his identity for privacy reason. If the whale comes in front of everyone then there are some problems for him. Since whales have a huge amount of funds, there is a security issue here.

XCANA

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Well, let me try as much to be brief with your questions: whales are Larger organization or individuals who have the financial will power to make huge buy and huge sell. They all sell their portfolios through different cryptocurrency exchanges and their transaction are carryout through the use of KYC. For your information, the whales don't transact their trades anonymously rather they do through the use of KYC to avoid the frozen of their portfolios on the exchange.

bitbunnny

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I think that the answer is quite obvious.
Whales have a lot of Bitcoins and they don't want that fact to be known in public by their personal data. Of course, KYC is obligatory at exchanges and they provide their personal data but they are not and they shouldn't be disclosed in public to protect the privacy.
There is nothing weird in it, I don't think that any of us would want our privacy and finances to be disclosed in public if we were at their place.

maydna

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Quote from: yarlungzangbo on May 17, 2020, 09:06:06 AM

Why the whales want to trade as anonymous?

If they are trading by any payment method ,that means their name are known by the payment services.

Q1: If they are trading by crypto like BTC to ETH , how to make the transcation credible?

Q2: If they trade ETH/BTC as a large amount and the whales still keeping anonymous, how do they finish this transcation?

Perhaps, the whales don't want other people to know what they do, and if somehow, many people know what they do, people will ask many things about that. The whales won't answer all of the questions as they will be too busy with what they do so I think that is why the whales want to trade as anonymous. If the whale's trade in crypto, they will figure out how to make the transaction credible, but I don't know how they will do that since I am not the whales. They will have their way without we know, and they will have the resources that can help them anytime.

We will not know how they can finish their transaction as they don't want to reveal it to the public because that will be one of their secrets to keep anonymous.

cryptomaniac_xxx

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I don't quite understand, by mostly these whales trade using OTC.

You can read everything here in this article, OTC Trading: An Inside Look at How Whales Move Bitcoin.

davis196

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Quote from: yarlungzangbo on May 17, 2020, 09:06:06 AM

Why the whales want to trade as anonymous?

If they are trading by any payment method ,that means their name are known by the payment services.

Q1: If they are trading by crypto like BTC to ETH , how to make the transcation credible?

Q2: If they trade ETH/BTC as a large amount and the whales still keeping anonymous, how do they finish this transcation?

1.What do you mean by "making the transaction credible"?I don't understand this question.

2.I think that the crypto whales don't use cryptocurrency exchange platforms to trade large amounts of BTC or any other cryptocurrency.The risk of letting a third party service scam them and run away with their Bitcoins is just too big.

3.There are numerous ways to hide your name and identity,if you are really rich.Using offshore companies,for example.

LbtalkL

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Of course their names are recorded on various platforms, but if it is released on the public there is something wrong with the platform, Like an invasion of privacy unless it is hacked. I don't think whales will finish or cashout their BTC or ETH, It will stay on their wallets and to the exchange and they are sending it back and forth. They are just playing the market and taking advantage of it.

GreatArkansas

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Quote from: JeromeTash on May 18, 2020, 07:44:25 PM

But to be honest, being completely anonymous is quite hard these, Exchanges are now imposing KYC for transactions involving amounts as little as $10,000 so, there is no way of avoiding getting verified if one wants to trade.

For sure, if they started to make huge transaction especially in some exchanges, they already know that their identity could be known and can put to risk. But what if some whales are hiding behind some another person? Could this possible? Like if you are whale and want to hide your identity, you will hire some other people to use their identity or create some random or fake identity just to hide yours.

JeromeTash

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Probably one of the reason could be trying to avoid Taxation. They don't want IRS or any other revenue authority of any Country sniffing around their profits Grin

But to be honest, being completely anonymous is quite hard these, Exchanges are now imposing KYC for transactions involving amounts as little as $10,000 so, there is no way of avoiding getting verified if one wants to trade.

Yamifoud

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Quote from: yarlungzangbo on May 17, 2020, 09:06:06 AM

Why the whales want to trade as anonymous?

It is because for their safety also, in fact, we all are anonymously doing the same.

Why many people afraid of doing KYC? Because they want to live here anonymously and that is also why they choose to trade in crypto rather than in any other trading form. But unfortunately, this anonymity will be over soon knowing that many exchanges are already requiring to pass KYC for all users, quite that it ends the hides.

Boombl4

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Why after year using bitcointalk people like you don't give a shit there is discussion section and the marketplace where people actually trying to sell/buy/exchange.
Dude, stop spamming sections with your off-topics and use the discussion section for your questions right?
We have enough spammers around....

bL4nkcode

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Quote from: yarlungzangbo on May 17, 2020, 09:06:06 AM

Why the whales want to trade as anonymous?

Most traders do the same, why should I let my self to be known to the public when I'm just trading?

Quote from: yarlungzangbo on May 17, 2020, 09:06:06 AM

If they are trading by any payment method ,that means their name are known by the payment services.

Obviously.

Quote from: yarlungzangbo on May 17, 2020, 09:06:06 AM

Q1: If they are trading by crypto like BTC to ETH , how to make the transcation credible?

what do you mean?

Quote from: yarlungzangbo on May 17, 2020, 09:06:06 AM

Q2: If they trade ETH/BTC as a large amount and the whales still keeping anonymous, how do they finish this transcation?

Again, no one is trading anonymously in regards of converting from crypto to fiat money, most exchanges need KYC to be able to withdraw large amounts

And please moved this thread to trading discussion.

yarlungzangbo

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How do we trade as anonymous when we trading with a large amount?

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