Topic: Wow! Exchanges track how you spend btc! - page 5. (Read 963 times)
This post have a two faces,a possitive sude and it's negative side. I can say that the possitive side of this issue is our bitcoin will becone more secure because there is an monitoring but I am afraid on the negative side that it can abuse about our privacy because they can view and see our every transaction I think our freedom as a bitcoin owner will violate.
Coinbase does this exact thing if I'm not mistaken. Crypto gambling is illegal in the states to the best of my knowledge, and if they see you depositing bitcoin from a casino or withdrawing it to one, Coinbase will delete your account. That was true as of a couple of years ago when I heard it was happening but I don't know if that's still their policy.
It should not come as a surprise to anyone that exchanges do this. Just like with kyc policies they have to protect themselves and comply with gov't regulations. They don't advertise the fact that they track you, of course, but most of the big exchanges are probably doing it.
It should not come as a surprise to anyone that exchanges do this. Just like with kyc policies they have to protect themselves and comply with gov't regulations. They don't advertise the fact that they track you, of course, but most of the big exchanges are probably doing it.
1. I am almost sure that this guy didn't do the job as good as a mixer could do.
2. A better level of privacy would be nice. But as you said, there's Monero (and others). He could have done a way better job with Monero.
But I don't blame Coinmama, if this is in the ToS...
2. A better level of privacy would be nice. But as you said, there's Monero (and others). He could have done a way better job with Monero.
But I don't blame Coinmama, if this is in the ToS...
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.
I'm surprised to see an exchange use time to track where their sold coins end and then starting to ban their customers for gambling, but with so many exchanges to trade on, the only thing to do now, is just to move on to another exchange.
Reading the terms and conditions of services takes so much time that only the fewest people read them when I send money to an exchange I just want to know if I can withdraw my crypto from the exchange.
Reading the terms and conditions of services takes so much time that only the fewest people read them when I send money to an exchange I just want to know if I can withdraw my crypto from the exchange.
Not only privacy coins but one can also anonymize transactions using
- Mixer services
- Better Atomic swap platforms that don't require login such as coinswitch
- Traditional DEXs
- Mixer services
- Better Atomic swap platforms that don't require login such as coinswitch
- Traditional DEXs
That guy did a botched job of covering his tracks most likely or he didn't ever bother doing anything in the first place. But yeah some exchanges frown upon transactions coming from gambling sites so unless using a mixer better not risk getting your account closed.
Well, it's actually his fault for not reading the terms and conditions of services. Even our local wallet prohibits sending and receiving funds from gambling or casino sites. As a user, you we probably read thru the TOS to avoid our account from being frozen or locked.
That guy did a botched job of covering his tracks most likely or he didn't ever bother doing anything in the first place. But yeah some exchanges frown upon transactions coming from gambling sites so unless using a mixer better not risk getting your account closed.
Most people don't read the TOS, although I will from now on even it takes 2 hours. Not a user of coinmama so it doesn't affect me personally, but was very surprised about this. Seems a violation of what crypto is all about.
Interesting story... And yes - Privacy coins are the way to go, you took the words out of my mouth.
Since we all know Bitcoin isn't really an ideal coin for anonymity anymore, this is why XMR has a promising future along with many of the privacy coin contenders
And since we are on the topic of privacy coins, My sig. - Veil is a great new coin just for this exact thing: Anonymity and privacy.
Since we all know Bitcoin isn't really an ideal coin for anonymity anymore, this is why XMR has a promising future along with many of the privacy coin contenders
And since we are on the topic of privacy coins, My sig. - Veil is a great new coin just for this exact thing: Anonymity and privacy.
As the email says, it is part of the terms and services which the user agreed upon (probably without reading) when he signed up with Coinmama. It's a good practice on the part of the exchange to make sure ToS are being followed. It's the users fault.
1. I am almost sure that this guy didn't do the job as good as a mixer could do.
2. A better level of privacy would be nice. But as you said, there's Monero (and others). He could have done a way better job with Monero.
But I don't blame Coinmama, if this is in the ToS...
2. A better level of privacy would be nice. But as you said, there's Monero (and others). He could have done a way better job with Monero.
But I don't blame Coinmama, if this is in the ToS...
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?
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