Topic: Tainted Bitcoins? - page 2. (Read 1807 times)
Nothing to worry about here. Tainted as in they're closely linked with other addresses. Not that that is bad!
By converting currency for a fee you are operating as a money transmitter and my be breaking the law.
You could also be accused of money laundering if your trading with criminals.
If a seller tells you point blank the funds are used or have been used for/in illegal transactions/activities then you are an accomplice to any and all of those crimes after the fact.
Know your local laws.
In addition if you have stolen coins from an online exchange and then turn around and try to sell those same coins on the same exchange they were stolen from they might have legal ground to just take back their coins and give you the finger.
You could also be accused of money laundering if your trading with criminals.
If a seller tells you point blank the funds are used or have been used for/in illegal transactions/activities then you are an accomplice to any and all of those crimes after the fact.
Know your local laws.
In addition if you have stolen coins from an online exchange and then turn around and try to sell those same coins on the same exchange they were stolen from they might have legal ground to just take back their coins and give you the finger.
If you put one of your bitcoin addresses in https://www.walletexplorer.com and see that one of the inputs traces back to a known gambling or suspicious hot wallet well, you would have a problem if you tried to sell that bitcoin on Coinbase. walletexplorer.com is not really up to date or actively maintained any more as the developer now works for a paid service chainalysis.com.
Hey guys, thanks a lot for the useful replies. I greatly appreciate them. Also, I want to say that I bought like 1.45 btc from Kraken like the other day and it was 29% tainted. What do you think about that?
@BitcoinNewsMagazine May I ask how to use that service? I mean, I input my wallet there and get all sorts of data. I was thinking that if some of my coins were sent from a known wallet (aka well known wallet with stolen funds) then I would've seen a message about it there?
I apologize, I'm not good with interpreting that data.
@BitcoinNewsMagazine May I ask how to use that service? I mean, I input my wallet there and get all sorts of data. I was thinking that if some of my coins were sent from a known wallet (aka well known wallet with stolen funds) then I would've seen a message about it there?
I apologize, I'm not good with interpreting that data.
If it says that the coins are tainted, you should run them through a reliable mixer/tumbler and they'll come out clean and much harder to trace as well. Bitmixer sets fees of 0.5%, so it wouldn't take too much of a dig into your money.
You'll probably be okay, but people who deal with cash want to stay anonymous and could be criminals, so you'd be best off selling after covering your tracks.
You'll probably be okay, but people who deal with cash want to stay anonymous and could be criminals, so you'd be best off selling after covering your tracks.
Mixers are no longer reliable. There is bitcoin analytics software on the market which can trace bitcoin through mixers. You should expect companies like Coinbase who are licensed off ramps to fiat to carefully check incoming bitcoin. Everyone has heard stories of Coinbase closing accounts without reason, well this is why.
No risk in selling/buying/owning tainted Bitcoins. Many dollar bills have traces of drugs and there's even the term Contaminated currency. Do you not accept fiat bills because of this? Same goes for Bitcoin. If you did nothing wrong, you have nothing to fear, either with tainted coins or contamined bills.
If it says that the coins are tainted, you should run them through a reliable mixer/tumbler and they'll come out clean and much harder to trace as well. Bitmixer sets fees of 0.5%, so it wouldn't take too much of a dig into your money.
You'll probably be okay, but people who deal with cash want to stay anonymous and could be criminals, so you'd be best off selling after covering your tracks.
You'll probably be okay, but people who deal with cash want to stay anonymous and could be criminals, so you'd be best off selling after covering your tracks.
Try checking the address at https://www.walletexplorer.com/ to see if any interesting known wallets come up. This is the only site I know available to public which links bitcoin addresses to names.
Some of this may come down to just how tainted they are. You likely know how to view the taint (example):
https://blockchainbdgpzk.onion/taint/1YOURBITCOINADDRESS
If it came down to it would it be worth it to you to spend 2-3% running through a commercial tumbler? Its effective, but a few percentage points add up over time. Most of my coins are tumbled but I have them for the long haul. A few percentage points was nothing compared to how now the prices have exploded. Years from now an anonymous coin wallet with some decent value would make this worth it to me. Everybody has a different take.
https://blockchainbdgpzk.onion/taint/1YOURBITCOINADDRESS
If it came down to it would it be worth it to you to spend 2-3% running through a commercial tumbler? Its effective, but a few percentage points add up over time. Most of my coins are tumbled but I have them for the long haul. A few percentage points was nothing compared to how now the prices have exploded. Years from now an anonymous coin wallet with some decent value would make this worth it to me. Everybody has a different take.
The word 'tainted' used on Blockchain.info has a meaning of how related two addresses are. It's a measure they use to correlate addresses that are sending transactions to each other. It has no risks at the least, unless you are fishing for anonymity. It has another meaning of how the addresses might be involved in money/Bitcoin laundering, but that's not the case here.
You can read more on this link: https://bitcointalksearch.org/topic/what-is-taint-92416
You can read more on this link: https://bitcointalksearch.org/topic/what-is-taint-92416
Hello,
I buy Bitcoin locally with cash and charge a 3.5 percent commission. I then sell the Bitcoin in Kraken and cash out.
I've been noticing that some of the Bitcoins I get are tainted (https://blockchain.info/taint/*bitcoin address here*) and I'd like to know what risks I'm taking by selling such Bitcoins there.
Should I be worried?
I buy Bitcoin locally with cash and charge a 3.5 percent commission. I then sell the Bitcoin in Kraken and cash out.
I've been noticing that some of the Bitcoins I get are tainted (https://blockchain.info/taint/*bitcoin address here*) and I'd like to know what risks I'm taking by selling such Bitcoins there.
Should I be worried?
This brings us to the old bitcoin problem: lack of fungibility. Since the blockchain is public, some addresses have been linked to criminal activity. It shouldn't be a problem, because all bitcoins should be considered valid, but if authorities decide it's a problem, then it becomes a problem, unfortunately.
I hope future improvements in privacy such as CoinJoin and Confidential Transactions can be enabled by default and work seamlessly. Meanwhile yes, you should worry about coins linked to criminals...
Hello,
I buy Bitcoin locally with cash and charge a 3.5 percent commission. I then sell the Bitcoin in Kraken and cash out.
I've been noticing that some of the Bitcoins I get are tainted (https://blockchain.info/taint/*bitcoin address here*) and I'd like to know what risks I'm taking by selling such Bitcoins there.
Should I be worried?
I buy Bitcoin locally with cash and charge a 3.5 percent commission. I then sell the Bitcoin in Kraken and cash out.
I've been noticing that some of the Bitcoins I get are tainted (https://blockchain.info/taint/*bitcoin address here*) and I'd like to know what risks I'm taking by selling such Bitcoins there.
Should I be worried?
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