Pages:
Author

Topic: Mixing your Bitcoin might become illegal in the future - page 4. (Read 958 times)

full member
Activity: 1330
Merit: 147
I guess, it's not easy to prohibit the utilization over the internet network, in this case crypto currency. Although many countries ban bitcoin like has happened a few years ago but, who is really capable of that? I guess there is no single country who is able to really ban the utilization if bitcoin or crypto currency as a whole.

This is will happen to bitcoin mixer as well, although all country ban this service but I doubt it will run perfectly. There will be a way that can access the bitcoin mixer platform so as there will be many bitcoin user who will use the platform easily. As for bitcoin is being used as money loundering, I guess it is just FUD.
sr. member
Activity: 632
Merit: 250
http://scientificcoin.com/
We will see more strict regulation with every year
sr. member
Activity: 1512
Merit: 326
Then make cash illegal too.  Cheesy

agree casino also could be possible for mixing coins . which their will send withdrawal request in many address. but its not specific for money laundry unlike mixing coin services . and might be possible somedays casino wallet will using the same address to sending withdrawal request for their
legendary
Activity: 1848
Merit: 1982
Fully Regulated Crypto Casino
It is difficult to know the people who use bitcoin mixers in order to maintain privacy and those who use the mixer to launder money and support terrorism, mixers are under the eyes of governments because they carry this charge in particular, so some good mixers present a document to customers proving that they have mixed Bitcoin and thus they have obtained According to a legal document, they do not use Bitcoin to launder money.
I do not know if governments accept this type of document, but it seems a good solution from my point of view to maintain privacy on the one hand and avoid accusations of money laundering on the other hand.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
Do you think there's a possibility this will happen in the future? If not, why? What do you think will happen once mixers (both custodial and non-custodial) are banned by the government? Will this force people to use privacy coins more thoroughly? Or will everything remain the same? Any input will be greatly appreciated. Thanks in advance Smiley
It already happens since the mixer is available and continues to happen in the future, even if the government is trying to interfere or surveilling their citizens for suspicious activity. If that is about money launder, the criminals will find a way out how they can get and use the money without the government knows. The criminals can use the Darkweb to make a transaction, including money laundering or other illegal things because they do not want the government to track them.

But for most people, they will not have a problem seeing that thing and they think that is normal if their government wants to know their activity when they use crypto.

I'm sure Criminals will find a way to be able to carry out illegal activities, even though in the future mixers will be banned by the government.
One of them can be through Darkweb, actually the number of criminals who commit crimes using a mixer is very small in my opinion. Since
many criminals prefer to use fiat to carry out criminal transactions, it may be because it is easier to use fiat than crypto. So it is not certain
that mixing Bitcoin will become illegal or not in the future, depending on the number of crimes that have occurred in the crypto world.
If the percentage continues to increase, criminals use mixers to commit crimes, there is a possibility that mixers will be banned by the government.
That is for sure because the criminals also update their ways with the latest ways to do the crime without the government still can track or detect their activities. The Darkweb will still be their way to transact with the others because that is like an untouchable way for them and the safest way to make illegal things without the government knows. We can say that the criminals who commit crimes are not many but we do not know the truth because I think the biggest criminals will not show themselves easily and only a few people or criminals will know who they are.

The existence of bitcoin already takes their attention and they also see the benefits of using the crypto for their activities, so I think they like to use the crypto to transact. But we do not know the right number of criminals who use the mixers for their activities.
legendary
Activity: 2618
Merit: 1105
Mixers are purposefully being represented as a loophole to get away by doing fraudulent activities and not being caught. But mixers are not responsible for that as they do their work and some of them don't even charge. Mixers may shut down but it is not justice to the users who use it because it is the intention that makes the transaction look suspicious or not, and mixers are so good that they don't even keep track of where the coins are going. If governments will shut down mixers, I think they should go for darknet coins like xmr and dash first.
hero member
Activity: 2590
Merit: 644
I think it will have some adjustment in the future not totally illegal because we need to hide our identity with the help with those mixers. We can't just normally send any huge amount of transaction without using any of those mixers. we will be hunted by those who want to steal our money. In some cases, mixers are much helpful because you become anonymous at some point. You are not just letting others track you freely. I'm sure they won't make any hasty decision like that, as I said, there are good things in using BTC mixers as well.
^ We want all to become anonymous in crypto, of course for us to have a safety for all cost while holding our crypto asset that will probably scammers will take advantage and the only way that we can hide is using mixer service. But how about if this is frequently used by those scammers too?  To clean up their mess and to have a clean coin leaving without a track to the authorities. Since KYC now is very common, I think in the future, even how we can mix our coin but it always ends up caught by the authority if you have done something stupid.
hero member
Activity: 2268
Merit: 588
You own the pen
I think it will have some adjustment in the future not totally illegal because we need to hide our identity with the help of those mixers. We can't just normally send any huge amount of transactions without using any of those mixers. we will be hunted by those who want to steal our money. In some cases, mixers are much helpful because you become anonymous at some point. You are not just letting others track you freely. I'm sure they won't make any hasty decisions like that, as I said, there are good things about using BTC mixers as well.
legendary
Activity: 3024
Merit: 2148
I doubt that governments are interested in regulating what people do with their coins, because it's unrealistic to enforce it, but they can tell exchanges and other services that accept crypto to refuse accepting mixed coins, or demand users to show their inputs before mixing. Or maybe they won't even have to, because exchanges already do chainanalysis and some even ban their users from using CoinJoin.
full member
Activity: 1750
Merit: 118
bitcoins popularity is not recent but govt's and banks are already at the chase for bitcoin ever since the btc world began . some years ago there was a restriction for mixers and lots of mixers have taken down but most of them continued normally  . mixers complying for kyc is a silly idea because mixers are meant to mask the users privacy if they are not contented on the anonymity btc has to offer .

What do you think will happen once mixers (both custodial and non-custodial) are banned by the government? Will this force people to use privacy coins more thoroughly? Or will everything remain the same?
the anonymity wont be the same of course if no more mixers but aside from mixer , privacy coins have the same issue like this  . it will be a headache for users that wants extra privacy
legendary
Activity: 2086
Merit: 1058
Do you think there's a possibility this will happen in the future? If not, why? What do you think will happen once mixers (both custodial and non-custodial) are banned by the government? Will this force people to use privacy coins more thoroughly? Or will everything remain the same?
In the space of decentralization and P2P environment, all the regulations and prohibitions are are least bothered. I believe everything will remain same as of now regardless of whatever stand governments will take in future.

How government will know that I am mixing my coins through onion version of mixing. Tor network based mixing services are already in used widely hence even governments think about regulating mixing services, they will slowly understand and will classify it as a basic and privacy oriented human right. No democratic government will dare to interfere into the privacy of individuals.
legendary
Activity: 3010
Merit: 1280
Get $2100 deposit bonuses & 60 FS
Bitcoin mixers have one job: To disguise the original source of Bitcoin funds. ... this is the very definition of money laundering.

That is not true. In order to be considered as money laundering, the money must be involved in a crime. If the money is not involved in a crime, then it is not money laundering.

https://www.law.cornell.edu/wex/money_laundering

You got a point but the thing is how can the person who uses the mixer say that the money is clean and not from money laundering.  Remember he hides the origin of the coin and the government is very suspicious in this kind of activity.  Using a mixer is the same as inviting the government to suspect us of money laundering.  And the government is well aware of this possibility that they may be wasting time investigating transactions that they thought is used in money laundering but ending up wrong.  So they would like to avoid this as much as possible, and the solution is shutting down mixing services.
full member
Activity: 1358
Merit: 104
I think it It's  not happen. Cryptocurrencys are almost used to many companies and It's regulated. A lot of countries are using bitcoin now.I think Government cannot stop bitcoin mixer service.
legendary
Activity: 3318
Merit: 1133
Leading Crypto Sports Betting & Casino Platform
Then make cash illegal too.  Cheesy
How about physical casinos? Thieves also used that service to mix their cash and they will accept it as long as it is a legitimate money and not a counterfeit.
This is just another way to say "we should be in control of your money" or "we should know how much you are keeping".
They want everything to be following taxation which will make them more money for their pockets to be filled and not for the people.

I bet they will use the mixing services for corruption in case people starts paying with Bitcoin.  Grin It takes a thief to catch another thief.
legendary
Activity: 3136
Merit: 1172
Leading Crypto Sports Betting & Casino Platform
Do you think there's a possibility this will happen in the future? If not, why? What do you think will happen once mixers (both custodial and non-custodial) are banned by the government? Will this force people to use privacy coins more thoroughly? Or will everything remain the same? Any input will be greatly appreciated. Thanks in advance Smiley

How will you be able to stop the bitcoin mixers from operating ? Government can't stop bitcoin mixer service and also they can stop people using these services so making it illegal is not practical. On the other hand, centralized exchanges may delist privacy coins, but privacy coins  will continue to exists on decentralized exchanges and their use cases is very strong. So also don't expect privacy coins to be dead in the future.
sr. member
Activity: 1274
Merit: 293
If you want to not worry about being charged of a ridiculous crime, I suggest that you move to my country the Philippines, the laws being implemented don't last long so you don't have to worry about it plus if you aren't a big target, you won't probably be bothered and you can pay police for protections.
sr. member
Activity: 1512
Merit: 326
Well mixing bitcoin could be Moundy loundry and its clearly against law of many country. in my country bitcoin regulation for trading only no other service allowed Legally except trading or for asset only. and im agree with you mixing bitcoin could be illegal in many states.
legendary
Activity: 1134
Merit: 1598
I think that they (the authorities) will try to fight coin mixing in another way - and I think that they will condition the analysis of transactions and every coin they find to have passed through the mixer will be marked tainted.
They'll fight mixing and the rich will still mix their coins while the poor will hand out every single little detail about their txs to the government as if that's completely normal. Laws are almost always just for the poor. The rich are always privileged. Just think of how much hassle there is to launch a company and get a profit while billionaires have privileges such as tax exemptions through tax havens. Meanwhile, while we are considered criminals if we ever think of not paying taxes no more, they're in fully legal conditions although they're doing exactly that, lol.

Blockchain analysis is gonna suck if that's what they're going to do. The worst thing is, you can be asked about a transaction they've marked which happened years ago. They'll know you've used a mixer at least once in your past, and they're going to hate it.

Hopefully though, Bitcoin's fungibility will be solved in the mid-term. We need that, before they start acting for real against "tainted" coins.
legendary
Activity: 2212
Merit: 7064
Do you think there's a possibility this will happen in the future? If not, why? What do you think will happen once mixers (both custodial and non-custodial) are banned by the government? Will this force people to use privacy coins more thoroughly? Or will everything remain the same? Any input will be greatly appreciated. Thanks in advance Smiley

They can't really make all mixing illegal in future but they can improve tracking and tracing transactions and freeze coins on exchanges if they want, however that will only result in making better mixers that will have improved mixing.
Bitcoin is public blockchain but privacy is basic human right and Bitcoin mixers will surely evolve and be more decentralized in future, and nobody will be able to do anything about that.
I can imagine future of mixing of Bitcoins inside wallet with other privacy oriented coins that will make it virtually impossible to track anything and there will be no website or central place to shut down.
Chipmixer is doing a great work so far and I would love to see something like Chipmixer 2.0 wallet that would remove the need of using any website (I know about old Chipmixer extension for Electrum wallet).
sr. member
Activity: 2828
Merit: 357
Eloncoin.org - Mars, here we come!
The recent popularity of Bitcoin has brought the attention of governments and central banks worldwide. We've seen certain opposition from countries like India, China, and Russia against the pioneer cryptocurrency. Countries that are friendly towards Bitcoin (like the US and UK), are constantly surveilling its citizens for any suspicious activity. I've seen that some countries have taken action against Bitcoin mixing services with the excuse that they're used for money laundering and terrorist financing. Since most (if not all) of these centralized mixers don't comply with KYC/AML regulations, they're subject to being shut down by the government. Imagine if criminals begin using Bitcoin mixers in mass for money laundering purposes. If the trend continues, mixing Bitcoin may turn out to become illegal.

Do you think there's a possibility this will happen in the future? If not, why? What do you think will happen once mixers (both custodial and non-custodial) are banned by the government? Will this force people to use privacy coins more thoroughly? Or will everything remain the same? Any input will be greatly appreciated. Thanks in advance Smiley
Actually this is one that we are afraid of for too long now , Because Lets admit the fact that While Bitcoin/crypto mixer is really helpful to many of us (We as Not having any bad transactions) but the problem is those who taking advantage of this disguising , They are using the opportunity to Make their dealings and Illegal businesses hide from this Mixer characteristics .
I'm afraid that in the near future , government will do their Best just to prevent people from Mixing coins and will ended for closure of all Mixing businesses in the world.
But i hope this will take into consideration and will only target those who must be banned, But the question is how would the government do such.
Pages:
Jump to: