Anonymity of crypto?

[Anonymous No.15911471]

Sup guys, I know basically nothing about crypto, but I was wondering about whether your transactions are anonymous?

Presumably if you buy some crypto from, say, Coinbase, then Coinbase will obviously have your credit/debit card details (identifying you), and they'll send that crypto to an address of yours, right? So then even if you move that crypto to other addresses before making a shady purchase, those transactions can be traced back to your original address (since the Bitcoin ledger is public), which can be tied to Coinbase, who can tell the police which credit/debit card paid for crypto to be sent to that address. Right?

Or have I completely misunderstood this...

[Anonymous No.15911482]

>>15911471
Correct. localbitcoin paid in cash is a better way of purchasing anonymously.

[Anonymous No.15911495]

Bitcoin is pseudo anonymous, Meaning the addresses are public all of us can see every transaction only we dont know its Tim from Alabama doing it unless Tim told us his address

[Anonymous No.15911520]

If Tim wanted to be fully anon he would not buy from Coinbase he would earn them or buy from someone personally at a Bitcoin meetup or Local Bitcoins

[Anonymous No.15911547]

from there you can keep your coins safe from seizure because you hold the private keys. There is even a thing called brain wallet which is only a Bitcoin wallet where the user has remembered his private keys usually 12-24 words in order. Travel globally with millions of dollars in your brain now thats cool

[Anonymous No.15911562]

>>15911471
XMR users not affected

[Anonymous No.15911595]

P.S. If you have bought crypto from Coinbase and then used the same computer to browse the dark web and scoop up some killer OG Kush and are waiting for said package and are wondering if Coinbase has ratted you out to the authorities and why your package is late. They totally did, and your mom already knows... Burn your PC change schools or go stay with your aunt for a few months.. Yeah the one who has fifty cats. Good Luck Anon

[Anonymous No.15911651]

>>15911482
Just googled this thanks, that's interesting. But surely the person you buy from will know your Bitcoin address, since they have to transfer it to that address. Of course it's unlikely that this person would have any interest in tracking your activities, but surely they could do, if they wanted to.

>>15911495
>>15911520
Tim would of course have to hope that the person selling him the Bitcoin didn't intend on tracking his activities through his address. Or grassing him up to the Feds. Or whatever. Or maybe Tim could wear a balaclava to try and anonymise himself when purchasing his crypto.

>>15911547
That's pretty cool. But I guess when you want to sell them then again, your identity can be tied to an address, right? Because the buyer will see your address. But again I suppose if you wear a balaclava or whatever to anonymise yourself in front of the buyer then maybe it's okay. But if you're selling your Bitcoin over the internet then the buyer will be able to tie your PayPal address or whatever, that they're paying the funds into, to your Bitcoin address, that you're paying the Bitcoin from.

>>15911562
Just looked this up, interesting. Really looks like Monero was made for people doing shady shit.

[Anonymous No.15911663]

>>15911595
No, like I said in the OP, I know very little about crypto, I've never bought any. I was just wondering to myself, because I know that Bitcoin was popular for buying drugs from the Silk Road, but then I thought hang on, the initial purchase of the Bitcoin is the weak link in terms of anonymity.

[Anonymous No.15911806]

>>15911651
Monero uses layers of privacy to ensure fungibility, meaning units of the currency have no history, nothing to distinguish one from another. There's no such thing as "tainted" XMR. You could receive XMR from a Mexican drug lord, and have no worries about it you'll be able to spend it or that you'll get in trouble for having it. The point isn't so much that Monero is designed for shady shit, rather it's that Monero is the highest quality money (has the most perfectly realized level of fungibility, even greater than physical cash), and people doing shady shit will naturally seek out such high-performance money to use, because money with lesser fungibility (like BTC) is a liability. You don't need to be up to shady shit to benefit from this. Everyone can and should demand total privacy in their money, it's a natural right.

[Anonymous No.15911874]

>>15911663
People who use BTC on the darknet are taking a risk. Most people doing this rely on two factors to protect them:
1) coin mixers, which obfuscate the coin history and provide deniability (no no officer, my BTC went into the mixer but the output that went to the illegal market wasn't mine!)
2) being too much of a small fry for authorities to bother going after

XMR is popular for many darknet markets because it is more private. Though on-ramps to and from fiat are still the most vulnerable part of the process even with XMR, if you link your identity to an exchange account to cash out, authorities might ask where all the XMR is coming from...

[Anonymous No.15912150]

>>15911874
thats why you never cash out and use crypto ditectly to buy shit. Amazon doesnt report to the authorities that your spending habits increased by 1000%

[Anonymous No.15912174]

You are exactly right

>.t identity banned from coinbase and cash app for receiving from known gambling wallets

[Anonymous No.15912200]

Also when you use local bitcoins just do bank deposits don’t meet random people and buy face to face

You can walk into a bank of the sellers choosing deposit into their account and local Btc holds in escrow. You send the deposit slip to the seller they release the escrow then you can buy your drugs lol

[Anonymous No.15912221]

>>15911471
Realistically what happens if Coinbases automated system thinks you are up to shady shit, or breaking their TOS (which if you look at it is pretty strict...) they'll just close your account. Unless you are some big time drug dealer the police are never going to notice your activity.

If you want to be safe use a tumbler.

[Anonymous No.15912251]

>>15911806
>>15911874
>>15911562
XMR does not exclude OPSEC. If you're dumbass is doing shit on facebook from the same IP that's accessing an exchange where XMR funds have been converted to whatever, you're gonna have a bad time

[Anonymous No.15912284]

>>15911471
Nothing is truly anonymous. It all just depends on how badly a glownigger wants your ass. You live in a dystopian hellscape where everything you do is tracked and recorded. Every device logged, your physical movement tracked to within a few feet accuracy. They won't be using your Bitcoin address to find you.

Crypto keeps the local <100IQ cops off you when you buy weed, just like a VPN is enough to download MLP episodes without getting tracked. It's just too much effort for too small of a prize to bother with. It's security through making it just too much effort to give a fuck. Like car thieves who just go down the street checking for doors that are unlocked.

[Anonymous No.15912286]

If you send coins from coinbase use a few middle addresses you own if you are going to do sketchy shit. Those give plausible deniability to you and coinbase. The real problem is IP logging from wallets. Companies like Chainalysis run a fuckton of nodes for the sole purpose of catching a transaction at the edge of the network. This data is really fucking dangerous. If the wrong party gets their hands on IP-transaction logs they can geoIP you and show up and fuck you up.

[Anonymous No.15912294]

>>15912286
The solution to the IP logging from wallets is to always send your transactions over either a VPN or TOR. The VPN might not be trustable in which case you have the exact same problem, and sending coins over TOR is sketchy as well because then they associate that address with somebody who transacts over TOR. If you transact over TOR there is a possibility that exchanges won't want your coins.