Topic: Why gambling and mixing called bad actors in bitcoin - page 2. (Read 646 times)

Same as we have got Swiss banks these mixing services help in having our holdings unknown. With the KYC requirement it is possible to have the transactions being tracked and know the end users. For this purpose there existed the mixing service for some cost. Whether you need this to be used or not is upto the person who wants complete privacy.

When it comes to gambling, bitcoin and other cryptocurrencies gives the ease of gambling and the same lets them use it much against the fiat. Some believe the purpose of bitcoin is for gambling. Such thoughts needs to change, only then the real purpose for which bitcoin is being developed will be understood.

BTC could really be connected or would really be associated since its the main tool or currency on which people been making use on the time that they would really be engaging on these things.
Yes, it do really sucks when government and media do really make out some focus about these things which the fact that fiat is been used for how many millenia when it comes to these kind of
dealings where it is really just that a tool.This do only shows on how much they do hate up Bitcoin in the first place on where they would be always be having the reason for them to
focus on negative things and trying out as much as they can on pushing that it is really that a bad thing.

For those who doesnt have that much information or idea about on what Bitcoin is, then they would be easily be getting to believe on what these f*ckers been saying
which it is really just that sad.

This point is very true, gambling and BTC should not be put together because before there was BTC, gambling had also become a habit for the people
sometimes I can't believe people always associate btc with gambling and crime

Even banks that are well-known for their centralized systems can still be used by someone for illegal transactions. Banks can still receive someone's gambling winnings even if the user is under a jurisdiction that does not legalize gambling, even the bank does not know that there are many non-legal transactions occurring in one or two customer accounts from the sale of prohibited goods or other illegal actions.

All services can be abused, will the government close the bank too because people always can use it for illegal things? I don't think so, it's because the government doesn't hate banks.

Bad actors depend largely on individuals and their perceptions because we still have some religion that sees gambling as haram, such liken the Muslims but we also have some from that same religion that sees gambling differently and do not see anything wrong in gambling.

I have seen even some pastors from church preaching to members to repent from gambling that it's a seen but I always tell myself in my inner mind that the religious leaders are just making a misunderstanding statement, no doubt that gambling is linked with so many bad events one of which is addictions but then we must place priority on everything and what we don't know os more than us so to those who know how to gamble currently with accurate time and resources management,  I see nothing wrong in that but if you think you can't Control the impact of. Gambling, you will have to avoid gambling totally.

Well, I admit it makes sense they would not waste human resources in getting any mixed deposit manually reviewed. Actually, I did think that the review process of a mixed coin being deposited in a centralized exchange was of the binary thing, as you mentioned. So I guess I learnt something new today. 

That would explain why depositing small quantities which passed through a mixer does not trigger an investigation and the men in black in the front door.

Thanks for the explanation, I guess.

Bitcoin is only used as a tool for gambling and is not directly involved with the gambling industry.
Bitcoin is still Bitcoin, not regulated by anyone. it's just a payment option that is easier and more private.
Gambling sites that support Bitcoin are also increasingly appearing.

and about Bitcoin mixing, the last few months have been quite excited when Chipmixer was shut down because it was involved in money laundering crimes.
No wonder they are thirsty to be shut down, because they facilitate criminal acts.
Not all Bitcoin mixing sites do this practice, Many mixing sites still survive today.

Bitcoin mixer enhances privacy and resists attacks.
It is up to the laws of each country to determine if gambling is illegal.
Bitcoin in the case of gambling is also just a means to satisfy the desire to gamble and make money. Bitcoin in this case is not considered bad as the dollar or any FIAT is being used for gambling all over the world.

It's just how you feel because you've read so much negative news spread by governments. I have been in the market for over 6 years, and I have no problem with gambling and mixers. Gambling existed before bitcoin was created, and why don't you think about this? As for the mixer, just because it doesn't benefit the government or benefit you, doesn't mean it's bad or bad.

Listen mate, everything is all about perspective. For some people these actions are considered as wrong, whereas for some this isn’t bad at all. I mean there are nothing wrong with Gambling and Mixing, but people have different opinions and choice, and they have their moral values and hence they treat this as bad activities. Now both gambling and mixing of coins are legal, but if it is done with wrong intention then only it will be frowned upon by other people.

Normally, so many cultures and governments prohabit gambling as it is regarded as a societal menace which has led some youths astray and they became nuisance to the society.
Another reason is some non KYC and even KYCed gambling platform allows deposit and withdrawal even when you don't wager or bet. This means that a cyber criminal can use such gambling sites as a medium to transfer money and conceal their identities.

For mixers, even if the purpose is for privacy, but me and you know too well that people have abused mixers in several times by using it to conceal crime rather than for privacy issues.

Most centralized exchanges if not all do KYC and they work with government as they are willing anytime to give out your data and also confiscate your coins.

Basically, they are linked to practices that may be against the law(not all), unethical, or detrimental to the larger community. If you can lookup on the internet about incidents related to these "bad actors", you will see tons of them and that's why a lot of people are against it.
They are undesirable due to their links to illicit activity and potential legal and reputational risks.

from where did you get this views mate? are your friends acting and telling you? or this is just your own belief from your small understanding?

first , being a bad actor meaning that Gambling and Mixer should or must be shut down by the government long time ago but why they are still existing?
though there are some who had been shut down yet they are just few of many.


I should call them more on Bad actor if that is what you wanted to impose here comparing to gambling and mixers .

I am a gambler and also a mixer users and I am not being bias here instead this is what I have seen from my experiences .

I don't like to say that these two services are actors who tarnish the good name of bitcoin, but both of these services can be abused by bitcoin users. The real actors are bitcoin users who intend to carry out illegal transactions by utilizing the two services above, so the two services cannot be blamed entirely.

Governments and people who hate bitcoin are of course taking advantage of this situation to their advantage and rule. But nevertheless I think it is their right regardless if the plan works or not. I honestly don't hate the government if its goal is to prevent abuse, but underneath it all I think they are just plotting something to hurt bitcoin and its users financially.

Actually, that depends on your understanding, so I agree with what you are saying, it is negative for you, but for others it is a good way. That's why we don't have the same opinion because we have our own beliefs that are right or wrong that we can agree with or disagree with other people, especially maybe in this matter that you are talking about now. Just like for me bitcoin mixing is good if I am one of the bitcoin holders at this thing also doing some other bitcoin holders as well for sure.

heres what most people dont know

when using a mixer yes you are flagged but its not a yes/no flag. its a number/%.. they are not interested in getting a human involved to do an investigation at business(CEX) level unless said number/% reaches a threshold. but they do put you on a certain level of evolved algos to monitor different thresholds more. monitor customers more as each threshold passes
up to a point where thresholds reach a certain level where they would then try to gain more info about you

for instance it costs a bit of money to buy data from other partners/businesses they know/associate with. so they wont waste money buying all details of everyone(unless they are bulk data dealers)

so if your just depositing $10 they wont waste $1 trying to find if you have other accounts on other CEX and your flag rating on those services. however the more you do the more thresholds you reach the more intensive their scrutiny becomes

so someone that is high percentage normal coin movements small percentage mixed several taints back is a lower risk threshold than someone who puts all their funds through a mixer before then depositing into an exchange

and if the value of highly mixed deposits is high enough to breach tax thresholds and border crossing thresholds then they start to gather more information and do investigations. and if in those investigations they see some criminal tracings of funds they report it to authorities
they wont reveal all the thresholds of each level but atleast knowing that they dont investigate everyone is obvious because to watch everyone takes many many people and most businesses and authorities do not have enough personnel to watch everyone

meaning that "government" dont see or watch or receive data about everyone. just the interesting highly suspect stuff that reached a certain threshold that has met some standards regulators require

and regulators in formal legislation DO class using mixers as a red flag. meaning the more you use it the higher the intensity is of being on watch lists where actual humans start investigating. compared to someone just depositing $100 or $10 a week into an exchange from their own employment income accounts

Mixers are considered bad because it makes it difficult for governments and legislatures to track bitcoin accounts, so they won't like them and find a way to destroy them. But for those who value privacy, it's a favorite tool of theirs.
As for gambling, it has never had a good reputation because it causes more crimes than benefits society, even in my country, gambling is completely banned. But some people hate bitcoin, and they have taken advantage of this to smear, and spread false information to inhibit the development of bitcoin.

In my opinion, Mixing, on the other hand, is a technique used to obfuscate the source of funds, which goes against the principles of transparency and traceability within the Bitcoin network. While these activities are not inherently bad, they are often associated with criminal behavior and can tarnish Bitcoin's reputation as a legitimate asset.

Broadly speaking, it's not just bitcoin or crypto, but it's bad for every financial-related market they get into. I see a lot of people condemning this issue while fiat is where they operate in greater volume ( I also want to mention activities like prostitution and drugs ) . More precisely the bad sides in society will still exist in their own way and the means are made to make it easy, so don't look at one negative side and forget about the other side.

Bitcoin decentralized network makes it difficult for governments to trace the owner of transactions that is carried out. So many investors who are into illegal activities has used this opportunity to carry out the illegal activities through gambling and mixers,this doesn't mean that this line of businesses are bad actors.  We shouldn't use the sin of one man to condemn everyone because they are still many honest and upright bitcoin investors who gamble with Bitcoin and also secure their bitcoin transaction privacy with a mixer. There are also many bad actors who uses fiat for money laundering and drug trafficking, who haven't been caught by the government or are backed up by the government. It is not bitcoin that is the problem but the individuals that are involved in these illegal activities. As long as we are human,illegal activities is a most,due to greed and the eagerness to get fast money.