Swap WBTC to BTC make BTC anonymous?

dkbit98

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Quote from: patinencomun on June 02, 2021, 09:58:11 AM

If I have WBTC on ETH network, then I use curve.fi to swap WBTC from Ethereum network to BTC network, is the swap info, btc destination address and/or other info stored in any database or even in the main ETH network?

You do know that wbtc is fake Bitcoin on public ethereum blockchain held by centralized custodian so there is nothing anonymous about that, so much that even on their website they say it is completely transparent.
Your addresses, transfers and used IP addresses are all stored on blockchain, you are just paying extra conversion fees for nothing, and if you are a merchant you must pass extra kyc for holding wbtc.

BTCB on binance chain with their bridge is probably even worse than wbtc because it is 100% centralized chain held by 20 people and CZ is having all the power to roolback and do everything he wants.

Quote from: patinencomun on June 03, 2021, 03:57:20 AM

I wish to repeat until death and keep btc and usdc allways anonymous and private.

or until they freeze your accounts and you lose your coins.

patinencomun

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Quote from: Jawhead999 on June 03, 2021, 03:38:54 AM

Quote from: patinencomun on June 03, 2021, 03:23:17 AM

I use coinjoin, but when I have to make swaps, then I loose privacy again. Guys, how can I trade BTC -> Stablecoins -> BTC without loose of privacy?

Using decentralized exchanges (e.g. Bisa or Hodl hodl) you could trade BTC/DAI or BTC/USDC, your privacy and identity will be not exposed since that's exchanges is trully decentralized not like those called swap that has less decentralized. For better privacy use mixer before trade on DEX.

Quote

If I need FIAT I can trade on an KYC exchange a coinjoined BTC, then I use this FIAT pay taxes and everything is ok.

Seems contradicting, why you want to hide your privacy if you still use KYC exchanges (centralized)? Even though KYC is mandatory but you could get asked to provide KYC.

KYC is mandatory in my country in order to send funds to an ordinary checking account and use debit card.

For example:
If I have 2 coinjoined BTC, I send 0.2 anonimously to my kyc centraliced exchange, and then use this funds. The rest is sold on uniswap (or other ETH dex) to USDC at 60k and bought at 44k, then I have now more than 2 btc and I have to coinjoin again...

I wish to repeat until death and keep btc and usdc allways anonymous and private.

Jawhead999

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Quote from: patinencomun on June 03, 2021, 03:23:17 AM

I use coinjoin, but when I have to make swaps, then I loose privacy again. Guys, how can I trade BTC -> Stablecoins -> BTC without loose of privacy?

Using decentralized exchanges (e.g. Bisq or Hodl hodl) you could trade BTC/DAI or BTC/USDC, your privacy and identity will be not exposed since that's exchanges is trully decentralized not like those called swap that has less decentralized. For better privacy use mixer before trade on DEX.

Quote

If I need FIAT I can trade on an KYC exchange a coinjoined BTC, then I use this FIAT pay taxes and everything is ok.

Seems contradicting, why you want to hide your privacy if you still use KYC exchanges (centralized)? Even though KYC is mandatory but you could get asked to provide KYC.

NeuroticFish

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Quote from: patinencomun on June 02, 2021, 09:58:11 AM

If I have WBTC on ETH network, then I use ~ to swap WBTC from Ethereum network to BTC network, is the swap info, btc destination address and/or other info stored in any database or even in the main ETH network?

Same question can be done in a BTCB to BTC swap info with ~ bridge.

BTC and ETH (WBTC) are not anonymous chains, so you don't get anything as anonymity. And you gave as choices a shady platform (risk to lose money) and a centralized exchange (make everything even less anonymous). No.

If you want to do it right, the options you have are either a proper mixer or coinjoin, either atomic swap with Monero (which although I've read it's live, I'd give it some more time before using it).

patinencomun

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Activity: 76

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I use coinjoin, but when I have to make swaps, then I loose privacy again. Guys, how can I trade BTC -> Stablecoins -> BTC without loose of privacy?

If I need FIAT I can trade on an KYC exchange a coinjoined BTC, then I use this FIAT pay taxes and everything is ok.

But what happens if I just want sell btc for stable and then buy btc on btc bubbles. After Coinjoin all of your btc how to trade without a privacy loose??

The use of WBTC / BTCB and DEX on Ethereum and Binance networks seems a good solution, but you are telling me this is a bad solution...

pooya87

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You basically have less than 0 anonymity!
You are using a shady centralized website to perform a risky act of converting your bitcoin to a centralized shittoken on a buggy centralized and mutable blockchain called ethereum then take all these steps in reverse.
You are better deposit your bitcoin in a centralized exchange like Binance and then withdraw them. You get the same level of anonymity (or lack of it) there but with much lower risks!

If you want to improve your privacy then use Coinjoin or a mixer.

serjent05

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Quote from: patinencomun on June 02, 2021, 09:58:11 AM

Hi,
If I have WBTC on ETH network, then I use curve.fi to swap WBTC from Ethereum network to BTC network, is the swap info, btc destination address and/or other info stored in any database or even in the main ETH network?

Same question can be done in a BTCB to BTC swap info with binance bridge.

Thank you.

It can be traced. Since all transactions are recorded on the blockchain. It somehow made the tracking a bit complicated but at the end of the day, the source of funds can be traced. I think a mixer is still the best option to make the source of the fund to be erased, or somehow near to impossible to trace.

tyz

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Activity: 3360

Merit: 1533

Both chains are completely open and so are the smart contract transactions. Of course, you can try to make your Bitcoin a bit more anonymous this way, but they won't be completely anonymous because they can be traced with a certain amount of resources. Even mixers are not completely safe for anonymity these days. There are companies, such as Chainanalysis, that specialize in this and have security agencies as customers for a reason, tracking cybercrime with blockchain transactions.

todiefor17

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Quote from: patinencomun on June 02, 2021, 09:58:11 AM

Hi,
If I have WBTC on ETH network, then I use curve.fi to swap WBTC from Ethereum network to BTC network, is the swap info, btc destination address and/or other info stored in any database or even in the main ETH network?

Same question can be done in a BTCB to BTC swap info with binance bridge.

Thank you.

The above options are possible, but you may have to pay a certain fee.
Are you looking for anonymity in WBTCs? I would argue that the exchange between WBTC and BTC only provides temporary anonymity since those are two different public chains. Sign up for an account and deposit your Bitcoins on a Bitcoin mixer for legal privacy. This solution can be more economical and simpler than the one you mentioned above.

blackened515

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Activity: 1218

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Quote from: patinencomun on June 02, 2021, 09:58:11 AM

Hi,
If I have WBTC on ETH network, then I use curve.fi to swap WBTC from Ethereum network to BTC network, is the swap info, btc destination address and/or other info stored in any database or even in the main ETH network?

Same question can be done in a BTCB to BTC swap info with binance bridge.

I don't usually trust the decentralized swapping system because the privacy isn't strong,I think.

Why can't you use Monero or zcash to privatize your transaction, it would be stress-free and easy to use than swapping wbtc to btc and vice versa.

anu1908

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Activity: 770

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it won't be recorded on the smart contract, but i bet the wbtc maker/conversion site will have your data. you can't avoid that since you use a third-party, especially a centralized one. even if they claim that they don't store your data, there's no guarantee that they're telling the truth.

20kevin20

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These things happen through smart contracts, so it's highly likely that there is enough information in the contract details for someone to de-anonymize your coins.

Best option is either ChipMixer or CoinJoin through Wasabi. WBTC to BTC is not the way to go.

grabpopcorn536

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Activity: 476

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Great idea, it's a good way to anonymize but it costs a certain amount of money. It depends on the services of the bitcoin wrapper and the blockchain network you use.
I have not tried to swap from BTC.B to BTC yet. You can use the Binance centralized exchange as an intermediary to convert BTC.B to BTC. Withdrawal costs can cost around $40.

patinencomun

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Activity: 76

Merit: 1

Hi,
If I have WBTC on ETH network, then I use curve.fi to swap WBTC from Ethereum network to BTC network, is the swap info, btc destination address and/or other info stored in any database or even in the main ETH network?

Same question can be done in a BTCB to BTC swap info with binance bridge.

Thank you.

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