From the creator of that topic - 'Bounced coin from wallet to wallet. Made multiple transactions with multiple companies. They still sniffed out where some of it went. Am I silly or is that ridiculous?'
I can understand where the exchange is coming from if he's buying and sending it straight to a gambling site from the exchange wallet. Multiple transactions and dilution down the line? That's fucked up if you ask me. By that point it's out of their hair and they should've long stopped caring. For all they know it could be in a completely different person's wallet by then.
Topic: Wow! Exchanges track how you spend btc! - page 3. (Read 963 times)
someone mentioned this tweet,
If a coin joiner is build inn and become the norm trackers and 3rd party mixers wont stand a chance anymore.
If a coin joiner is build inn and become the norm trackers and 3rd party mixers wont stand a chance anymore.
Exchanges are required by law to know their customers also known as kyc they have to know your ID and name and address technically from a legal standpoint in order to operate legally, but there are still some exchanges which do not require this for some reason.
From the exchange's perspective it was a wise decision for both legal precautions and protecting their other customers. Firms like CipherTrace are set in place to help with money laundering and combat terrorist financing. People worry they are tracking every detail but it's really more large amounts of money
I think we must obey all the rules in the service.
maybe the user doesn't know this privacy policy
the only thing to do now, just move to the other one to exchange.
maybe the user doesn't know this privacy policy
the only thing to do now, just move to the other one to exchange.
I believe the user know the privacy policy of coinmama that there don't support the deposits into gambling site's where gambling is forbidden or may be the user is not aware of this privacy policy, it good to read all the terms of any exchange before using them for some transactions.
I wonder how is this news?
exchanges have been tracking your coins, governments tracking tainted coins , blockchain offers less privacy than you think
even before Coinmama exchanges and wallets like Coinbase or coin.ph were shutting down accounts connected to gambling wallets
if it is in their TOS it is up to you tou use their service or not , but do not complain after your accounts get shut
exchanges have been tracking your coins, governments tracking tainted coins , blockchain offers less privacy than you think
even before Coinmama exchanges and wallets like Coinbase or coin.ph were shutting down accounts connected to gambling wallets
if it is in their TOS it is up to you tou use their service or not , but do not complain after your accounts get shut
Apparently this guy sent it to multiple different wallets before gambling with it, but coinmama found out and has banned him
https://www.reddit.com/r/Bitcoin/comments/bdr9nw/coinmama_is_a_nosey_bitch_tracking_your_coin/
Makes me wonder if Monero or some other privacy coin is the future. I realize he can go to an atm, buy from local bitcoin etc, but a lot of people don't have access to ATMs or don't feel comfortable with P2P. Anyway, what do you think about this? Privacy coins are the way to go, or are their privacy features just waiting to be unravelled?
This is the importance of reading Tos before using a service. Sometimes we immediately approve Tos without reading it, even though when we approve Tos it means we have to obey all the rules that exist in the service. And here coinmama is not wrong in terms of privacy, they have previously notified via high-fives, all depends on the user https://www.reddit.com/r/Bitcoin/comments/bdr9nw/coinmama_is_a_nosey_bitch_tracking_your_coin/
Makes me wonder if Monero or some other privacy coin is the future. I realize he can go to an atm, buy from local bitcoin etc, but a lot of people don't have access to ATMs or don't feel comfortable with P2P. Anyway, what do you think about this? Privacy coins are the way to go, or are their privacy features just waiting to be unravelled?
Exchanges track many more things than that. The biggest manipulator of the price and the volume are exchanges only. They keep a track of your buy and sell order, your stop loss, you leverages etc etc and then they play accordingly. Sometimes you will find a sudden red or green candle with heavy volume resting traders in a one go. These are exchange moves only.
exchanges are getting hard and harder with there rules.
It must have been a direct and known address he used to identify the wire.
if the wire jump multiple addresses how will the exchange know who end up as owner of the coins.
It must have been a direct and known address he used to identify the wire.
if the wire jump multiple addresses how will the exchange know who end up as owner of the coins.
One more thing when the transaction made to direct bitcoin wallets and then that transaction goes to other wallets and it has been used for the any purchase means how the exchanges track the usage of individuals. Then when the each exchanges facing 1 million plus transactions each day then how they spend to track the users.
We need to think all these factors before we accepting the article shared by OP. May be he is looking for views itseems.
exchanges are getting hard and harder with there rules.
It must have been a direct and known address he used to identify the wire.
if the wire jump multiple addresses how will the exchange know who end up as owner of the coins.
It must have been a direct and known address he used to identify the wire.
if the wire jump multiple addresses how will the exchange know who end up as owner of the coins.
Yes, Coinmama or any third party service provider can be put their users with limited access to their services. Not only coinmama but many other, offering wallet and exchange services to users acquiring little charge.
But in my own perspective, these all altcoin or blockchain based wallet and transaction services are decentralized, and these are known and introduced with that particular specification, in such case, if these third-party services keep watch and track on transaction done by users can lead towards monopoly. This can harmful for both users as well as an exchanger.
If things are still taking under one roof called centralization, then its quite impossible for Bitcoin in the current phase.
But in my own perspective, these all altcoin or blockchain based wallet and transaction services are decentralized, and these are known and introduced with that particular specification, in such case, if these third-party services keep watch and track on transaction done by users can lead towards monopoly. This can harmful for both users as well as an exchanger.
If things are still taking under one roof called centralization, then its quite impossible for Bitcoin in the current phase.
Clearly tracking user's actions by his money is not nice. At least, unlike who knows how many others tracking your money, these tell you in their ToS that they're watching you.
As long as Bitcoin blockchain allows it, you should be extremely naive to think that the money (bitcoin) flow is not tracked at all.
This is imho not centralization. Users are more than free to use other services. Yes, if we'll end up with a small and ever decreasing number of services, then this would be a problem. But it's not the case.
Apparently this guy sent it to multiple different wallets before gambling with it, but coinmama found out and has banned him
https://www.reddit.com/r/Bitcoin/comments/bdr9nw/coinmama_is_a_nosey_bitch_tracking_your_coin/
Makes me wonder if Monero or some other privacy coin is the future. I realize he can go to an atm, buy from local bitcoin etc, but a lot of people don't have access to ATMs or don't feel comfortable with P2P. Anyway, what do you think about this? Privacy coins are the way to go, or are their privacy features just waiting to be unravelled?
When you signup for any exchange you agree to give your privacy into the hands of a third party. It's pretty obvious that when any exchange doesn't gives you a private key of the wallet then that exchange has whole control of your wallet. So they can surely track you to. I don't find anything like sad in this. The user should have used a private key monero wallet or should have used a good mixer so that it was impossible to track him down. There are ample of people using this it's for the very first time I have seen such a case. https://www.reddit.com/r/Bitcoin/comments/bdr9nw/coinmama_is_a_nosey_bitch_tracking_your_coin/
Makes me wonder if Monero or some other privacy coin is the future. I realize he can go to an atm, buy from local bitcoin etc, but a lot of people don't have access to ATMs or don't feel comfortable with P2P. Anyway, what do you think about this? Privacy coins are the way to go, or are their privacy features just waiting to be unravelled?
Yes it is not surprising. Every user will accept terms and conditions while signing up in the exchange. Once you signed up all the data's and transactions are logged in their server and those data's are used for research and marketing reason hence there is small risks involved in these hence all the details are logged by exchanges.
Cool thing to know that Coinmama's ToS extends well beyond their grasp. I mean, once people bought something from you, shouldn't consumer-merchant relation already end there once people paid something "in full" from you? I think in this instance, Coinmama still wants control from the coins they released to people and that's somewhat scary. Not that I'm with the dude gambling or anything but it's not Coinmama's business anymore on where will the coins be used.
Perhaps those who want to gamble wants to use the aid of privacy coins or mixers just to avoid getting banned from exchanges.
Perhaps those who want to gamble wants to use the aid of privacy coins or mixers just to avoid getting banned from exchanges.
Some people have commented on this and I want to add some things. we have to stop with things like these:
Coinmama is a nosey bitch tracking your coin.
bitcoin is decentralized. but we can not oblige exchanges that have their owners to be decentralized. The exchanges must respect the laws of the governments and they certainly do not want to have problems with the governments.
About anonymous currencies, if every year we are under pressure from governments, eventually we will have a highly regulated market and the anonymous currencies will be targets of governments and I believe that few people will risk using anonymous currencies
Coinmama is a nosey bitch tracking your coin.
bitcoin is decentralized. but we can not oblige exchanges that have their owners to be decentralized. The exchanges must respect the laws of the governments and they certainly do not want to have problems with the governments.
About anonymous currencies, if every year we are under pressure from governments, eventually we will have a highly regulated market and the anonymous currencies will be targets of governments and I believe that few people will risk using anonymous currencies
Gambling is pretty stupid- How many of us would have a lot more BTC without it? But I fail to see the big deal with it. It is not a criminal act to throw my money in a garbage can should I choose. I think you guys underestimate how much bitcoin is currently supported by the gambling economy. America just legalized sportsbetting and will likely catch up with europe on other games at some point. People are going to gamble whether the government agrees or not, and I don't think this use should be a smear on bitcoin. That's pretty nutty that TOS includes that, that should be a pop-up warning message or at least on coinmama's main page, but of course they'd rather have it somewhere they know people won't read it so they can make the sale then close the account on you.
Apparently this guy sent it to multiple different wallets before gambling with it, but coinmama found out and has banned him
https://www.reddit.com/r/Bitcoin/comments/bdr9nw/coinmama_is_a_nosey_bitch_tracking_your_coin/
Makes me wonder if Monero or some other privacy coin is the future. I realize he can go to an atm, buy from local bitcoin etc, but a lot of people don't have access to ATMs or don't feel comfortable with P2P. Anyway, what do you think about this? Privacy coins are the way to go, or are their privacy features just waiting to be unravelled?
When you signup for any exchange you agree to give your privacy into the hands of a third party. It's pretty obvious that when any exchange doesn't gives you a private key of the wallet then that exchange has whole control of your wallet. So they can surely track you to. I don't find anything like sad in this. The user should have used a private key monero wallet or should have used a good mixer so that it was impossible to track him down. There are ample of people using this it's for the very first time I have seen such a case. https://www.reddit.com/r/Bitcoin/comments/bdr9nw/coinmama_is_a_nosey_bitch_tracking_your_coin/
Makes me wonder if Monero or some other privacy coin is the future. I realize he can go to an atm, buy from local bitcoin etc, but a lot of people don't have access to ATMs or don't feel comfortable with P2P. Anyway, what do you think about this? Privacy coins are the way to go, or are their privacy features just waiting to be unravelled?
Privacy coins are private and that means you cannot be traced but bitcoin can also do that because there are now services called mixers where you can mix you bitcoin so that no one can trace your original source on where did you got your bitcoin or who is the original owner of it . sure exchanges can track your coins after you withdrew or deposit them but that is not their job . whats the point of doing it to thier costumer ?
It depends on the exchange's terms of use, in order to prevent some keos they track send and receive Bitcoin transactions through their exchanges.
Apparently this guy sent it to multiple different wallets before gambling with it, but coinmama found out and has banned him
https://www.reddit.com/r/Bitcoin/comments/bdr9nw/coinmama_is_a_nosey_bitch_tracking_your_coin/
Makes me wonder if Monero or some other privacy coin is the future. I realize he can go to an atm, buy from local bitcoin etc, but a lot of people don't have access to ATMs or don't feel comfortable with P2P. Anyway, what do you think about this? Privacy coins are the way to go, or are their privacy features just waiting to be unravelled?
https://www.reddit.com/r/Bitcoin/comments/bdr9nw/coinmama_is_a_nosey_bitch_tracking_your_coin/
Makes me wonder if Monero or some other privacy coin is the future. I realize he can go to an atm, buy from local bitcoin etc, but a lot of people don't have access to ATMs or don't feel comfortable with P2P. Anyway, what do you think about this? Privacy coins are the way to go, or are their privacy features just waiting to be unravelled?
It may be useful to use mixer applications for such situations. Or, using DEXs, you can make the money untraceable. We are losing our decentralized system slowly. So, we have to be careful more.
That is why bitcoin has services like bitcoin mixer so they can not track on how we spend our bitcoin. At least, if they still want to track, they will difficult to located on where we spend the bitcoin. But yes, in these situations, I think using monero will be good.
Perhaps, the strategy to use bitcoin for gambling would be like this:
1. We have bitcoin, and we send it into exchanges which don't use KYC.
2. Then exchange it into other coins which is available on the gambling website and then send it into the gambling site and then you can play many games.
3. When you can win, you can send it into the exchanges and sell it to convert into bitcoin.
That strategy will be a bit confusing but I think that will works wells
Perhaps, the strategy to use bitcoin for gambling would be like this:
1. We have bitcoin, and we send it into exchanges which don't use KYC.
2. Then exchange it into other coins which is available on the gambling website and then send it into the gambling site and then you can play many games.
3. When you can win, you can send it into the exchanges and sell it to convert into bitcoin.
That strategy will be a bit confusing but I think that will works wells
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