Mixing service: Difference between revisions
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→See Also: Add entries for Bitcoin Mixnet and Anonymity article. |
Clarification. |
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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>. | 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>. | ||
The term money laundering refers to practice | 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>. | |||
==See Also== | ==See Also== | ||
Revision as of 21:52, 30 April 2011
Mixes ones funds with others with the intention to confuse the trail back to the original source of the funds.
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[1].
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[2].