|
|
| (28 intermediate revisions by 13 users not shown) |
| Line 1: |
Line 1: |
| Mixes ones funds with others with the intention to confuse the trail back to the original source of the funds.
| | #redirect [[Bitcoin mixer]] |
| | |
| Compared to the traditional financial systems this service might be the equivalent of moving funds through banks located in countries that have strict bank-secrecy laws. Such countries include the Cayman Islands, the Bahamas, and Panama<ref>[http://en.wikipedia.org/wiki/Offshore_bank Offshore bank]</ref>.
| |
| | |
| Mixing helps protect privacy however mixing can also be used for money laundering.
| |
| | |
| The term money laundering refers to the practice where this mixing is performed because the funds are illegally obtained. After laundering, the funds appear legitimate<ref>[http://en.wikipedia.org/wiki/Money_laundering Money laundering]</ref>.
| |
| | |
| Mixing large amounts of money may itself be illegal, being in violation of [[Wikipedia:Structuring|anti-structuring laws]].
| |
| | |
| There has been in Bitcoin's history the situation where an exchange has blacklisted bitcoin deposits due to them having taint and descending from bitcoins that were stolen<ref>[http://bitcointalk.org/index.php?topic=73385.0 Mt Gox thinks it's the Fed. Freezes acc based on "tainted" coins.]</ref>. Unless the exchange follows the trail, manual or lightly automated mixing methods can make detection of taint more difficult<ref>[http://bitcointalk.org/index.php?topic=79079.0 Blockchain-based betting services function as mixing services?]</ref> even though this approach does protect privacy like a true mixing service would.
| |
| | |
| ==See Also==
| |
| | |
| * [[Anonymity]]
| |
| * [[Cleanbit]]
| |
| * [[:Category:Mixing Services|Mixing services]]
| |
| * [http://www.bitcoin.org/smf/index.php?topic=2893.0 RFC: Bitcoin Mixnet]
| |
| | |
| ==References==
| |
| <references />
| |
| | |
| [[Category:Financial]]
| |