BitMix Review: not a scam, popular and easy bitcoin mixer

[ Bitcoin ] Anonymity of Bitcoin by mixing

Topic originally posted in Bitcoin by vasiliydyt [link]
Anonymity of Bitcoin
If you think Bitcoin is an anonymous cryptocurrency… you are totally wrong. Despite the high level of anonymity of Bitcoin, you should understand that thanks to the blockchain technology, the use of crypto currency is also fairly transparent. Knowing where you expect the payment, or from which address you make it, outsiders can easily track the movement of your funds.
Many e-currency exchange points and crypto-exchange exchanges often require the verification of your identity, which will ultimately make your personal data public in varying degrees. Some people using Bitcoin are looking to get a real privacy and this is where bitcoin mixing service websites are useful.
What is Bitcoin Mixing?
Bitcoin tumbling, also referred to as Bitcoin mixing or Bitcoin laundering, is the process of using a third party service to break the connection between a Bitcoin sending address and the receiving address(es).
In other words, coin mixing services take your cash and give you new cash to your secret identity so that it remains secret.
Conclusions
It’s important that they be trusted. There’s no authority or government you can complain to if they run off with your coins. So if you like privacy and also want to protect your cryptocurrency from government tracking or tracing, Bitcoin mixer services are a good option.
Let’s look at the best services of Bitcoin mixing:
UltraMixer
UltraMixer using the mixing of multiple Bitcoin addresses. Our system works quickly and with a small commission – only after the transfer and receipt of funds to the final address. Of course, all of the data about your transaction will be irretrievably deleted.

CoinMixer
Coinmixer is one of the best bitcoin mixers on both the clearnet and the dark web. Having multiple privacy features from random delays to optional multiple output addresses. They offer a signed letter of guarantee with every transaction, that may be used for tax purposes, or proof of receipt in the event your bitcoins are lost or stolen.
BitMixer
One of the oldest and most reliable services. BitMixer offers a unique service with a high degree of confidentiality, which will ensure the anonymity of your payments. This service is designed to be as intuitive as possible. The whole process of bitcoin anonymization should not take more than a few minutes.
ChipMixer
Many people compare mixing services like ChipMixer to banking services in countries like Panama, the Cayman Islands, and the Bahamas. Every day, people move their fiat currencies through banks in these countries because they have stricter secrecy laws. ChipMixer works in a similar way.
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05-01 15:44 - 'Guys, I lost $1000 and it was 100% my Fault' (self.Bitcoin) by /u/Krupxion removed from /r/Bitcoin within 361-371min

'''
A little backstory...
I'm a long time bitcoin enthusiast. Been keeping a close eye on things since before it hit $500. However, after I missed out on the major boom in a couple years back I pretty much stopped paying attention. Just recently I saw that BTC went from 3k to 7k and with the halving coming up figured now is as good a time as any to reinvest.
So I took $1000 and put it into an exchange. And then from the exchange I sent it to my old favorite bitcoin mixing service... BitMixer.
Anyone reading this probably know exactly where this is going... BitMixer has been shutdown since 2017 and there are now numerous fake websites out there. I fell for "bitmixer-io" .com
To be honest with you, it broke my heart. I sent .1111 BTC off and waited for confirmations. Once the transaction was confirmed I waited to see funds appear in my wallet... and I waited... and then I started to lose hope. That's when I started to see the obvious signs of the scam. The website listed BitMixer's real wallet address... which has of course been inactive since 2017. The wallet address I did send my money to has only had 4 transactions all in the past year.
This was quite literally the stupidest mistake I have ever made in my life. For so many, many reasons.
Anyone reading this, please be careful out there. I consider myself extremely careful with my money, my data, and my OPSEC, but this mistake only took me 30 seconds to make and now it can never be undone.

P.S. If anyone out there happens to be so fortunate that they can help me recover what I lost I would forever be indebted to you. I can provide as much proof as is needed to back up my story. I'm not out here begging but I am here praying that somehow this will work out in the end.
'''
Guys, I lost $1000 and it was 100% my Fault
Go1dfish undelete link
unreddit undelete link
Author: Krupxion
submitted by removalbot to removalbot [link] [comments]

Russian Wanted by U.S. Over $4 Billion Bitcoin Crime Caught in Greece

Russian Wanted by U.S. Over $4 Billion Bitcoin Crime Caught in Greece submitted by EnayVovin to btc [link] [comments]

Here's how decentralised second layer implementations should work on top of Bitcoin Core

I am very excited for the growing usage of the Lightning Network and I certainly believe that it could make great changes toward how bitcoin is used; however, I do believe that there are better ways to implement a second layer.
The Lightning Network uses exclusive channels, but second layers should operate with one continuous channel. This may be hard to grasp, but hear me out.
Alice wants to send one singular bitcoin to Bob. Using SegWit, it would take about 20 minutes with a fee of 95 satoshis per byte to confirm said transaction. Obviously we know that sort of thing would never persist as a usable currency for a "rapid economy" as fast as fiat is today.
However, using an ideal second layer that is decentralised, these transactions can be transferred in a matter of seconds, especially if those running the second layer assume the burden of time and combine the fees.
If transactions are combined together and ran in a block-series format on a second layer, then the burden of time is shifted away from the user and the fees would be lowered. Additionally, a second layer of fees would be needed to exchange for those running the second layer.
Send multiple transactions to the network and then to the blockchain
Have server clients run a full node from Bitcoin Core and broadcast their presence to the network. Have an open-source protocol be added to their broadcast to prevent spam attacks and DDos.
Use a bitmixer open source to regulate how the server clients send the transactions to Bob. Use such a bitmixer to transfer funds to a decentralised middleman whose private key is encrypted. Server clients, who are decentralised, broadcast their diagnostics to the network as well, which would be correlated with the transactions. Clients who fail to broadcast their diagnostics in a consistent manner would be auto-booted by the network. The script protocol to connect the network includes a function to boot inconsistent clients. Alice can now transact with Bob without sending a private key. In a way, these clients who run the info on their own servers act as "miners" in a way.
Group all of the proposed transactions, including the Alice-Bob one, in a public series organised similarly like a blockchain. Have the script protocol (which the clients run) verify the consistency and use BitRef or blockchain.info to create another series block of "receipts", this is to not only double but triple verify the transactions.
For Alice to use said network and thus transact with Bob, her wallet would also need to be transferred to the network along with the proposal to transact, along with the diagnostic property makeup of such transaction. That would then be matched by the clients who run a script protocol to start the process of sending and verifying the funds. Once Alice's and millions of other transaction proposals are grouped and reach an agreed-upon size, they are sent to the Bitcoin blockchain en masse using the "sendmany" command in Bitcoin Core. All server clients who participated and whose consistency in diagnostic reporting has been checked would be granted a portion of the lower, combined fees by running another script protocol grouping those funds.
The double-run script protocol of processing the fees and sending the transactions to the blockchain would be run simultaneously in a block-like fashion, and multiple blocks could be run at once.
In this manner, millions could combine their fees together (if the MB isn't too big to run all st once, the clients can break it up) and transact in a matter of a few minutes with super low fees.
Also, this would ideally be run on a P2P network or on I2P with multiple VPN layer configurations.

Thoughts?

submitted by PrideAndPolitics to Bitcoin [link] [comments]

The Top 9 Interesting Bitcoin Facts You Need To Know

Part of the reason people don’t want to use Bitcoin is that they don’t know enough about it. Well, our mission here at CoinSutra is to get everyone on the same page with regard to Bitcoin and cryptocurrencies. 1. The first Bitcoin purchase was for pizza. Did you know why May 22 is celebrated as Bitcoin Pizza Day?
Initially, when bitcoins were mined they were virtually worthless as it cost literally cents to buy a BTC.
But it was until 22 May 2010, when someone purchased something with bitcoins.
Seven years ago on this day, someone bought Piazzas with bitcoins and this purchase was a big deal because no retailer was accepting bitcoins at that time for goods and services.
On 22 May 2010, two Papa John’s Pizzas were exchanged by Laszlo Hanyecz for 10,000 BTC. This was the first official documented purchase of goods using bitcoins.
At that time, the worth of 10,000 BTC was $41.
At the time of writing this article, the worth of 10,000 BTC is around $25.8 million.
  1. The inventor of Bitcoin is a mystery.
Yes, that’s correct! The inventor of Bitcoin is still unknown.
Since the inception of Bitcoin in 2009, there have been several speculations about who the father of Bitcoin is.
The Bitcoin whitepaper was made open to the public under the pseudonym of Satoshi Nakamoto. The identity of “Satoshi” is still a mystery yet to be solved.
Amidst this confusion, there are some people like Craig Wright, an Australian entrepreneur, who in May 2016 claimed to be the inventor of Bitcoin. However, this guy, later on, turned out to be just another scammer.
He with his partner tried to pump a forked version of Bitcoin called Bitcoin cash and made a lot of innocent users lose their hard earned money. None the less, he bought a Limbo with all the scam money.
Some even suggest that Samsung, Toshiba, Nakamichi, and Motorola together created Bitcoin.
“Satoshi Nakamoto”: Samsung and Toshiba —- Satoshi Nakamichi and Motorola —- Nakamoto This anonymity has led to comments like“Bitcoin is a Ponzi Scheme,“ yet this buzz has not stopped BTC from growing.
Because the purpose of Bitcoin is to be a decentralized method of exchanging money, this anonymity is very healthy for the platform.
  1. Bitcoin is untraceable & Bitcoin is NOT untraceable.
When making Bitcoin transactions, your name/identity is not used in any form. Only your public address is available.
But…
The Bitcoin blockchain is a permanent ledger which is transparent. If anyone knows your Bitcoin public address, they can see how many bitcoins you hold and what transactions you have made.
It’s how the FBI was able to bust the owner of Silk Road.
If users of Bitcoin want to hide their public address or IP, it can be done by using services like Bitmixer.io or a VPN.
That said, this just makes it difficult to trace; difficult, but not impossible.
  1. If you lose your Bitcoin private key, you lose your bitcoins.
James Howells, an IT guy, lost 7,500 bitcoins in November 2013. While he was cleaning his desk at home, he threw away his hard disk containing the private keys of bitcoins which he had mined in 2010.
The realization dawned on him when he read the news of a Norweigan man who made a fortune by buying BTC at a low price.
He searched and searched, but could not find his hard disk.
At present, the worth of 7,500 BTC is approximately $19.4 million.
Without the private key, the funds are lost forever no one can use them.
Until this point in time, it is estimated that around 25% of all bitcoins have been forever lost.
  1. Bitcoins don’t grow on trees. Just like money, bitcoins also don’t grow on trees.
But unlike traditional paper money, you can’t touch, feel, or print bitcoin.
Bitcoins are mined on the blockchain network, and they come into existence when miners successfully mine Bitcoin blocks.
At present, the mining power of Bitcoin’s network is 300 times more powerful than the world’s top 5 supercomputers combined.
  1. There will only ever be 21 million bitcoins.
Bitcoin’s supply is finite.
There will only ever be 21 million bitcoins.
At present, 16.3 million have already been mined and are being traded. The last bitcoin will be mined in 2140. After that, no new bitcoins can be mined.
  1. You can buy a lot of stuff with Bitcoin. People always ask what you can buy with bitcoins.
But the real question should be:
What can’t you buy with bitcoins? Here are just a few of the goods and services offered:
Coffee at Starbucks Funeral items in the US Space travel with Virgin Galatic Order food with Bitcoin E-commerce with Purse.io Book a flight for BTC Buy a Tesla Car To find out more places where you can spend your bitcoins, see CoinSutra’s guide on “Where Do I Spend Bitcoin?“.
  1. Since 2008, Bitcoin has consistently been making a profit (except for 1 year).
Year Price at the Start of Year Price at the end of Year Growth in % 2010 $0.0015 $0.31 20566% 2011 $0.31 $6.18 1893.5% 2012 $6.18 $13.44 117.5% 2013 $13.44 $751 5487.8% 2015 $285 $435.7 52.8% 2016 $435.7 $952.5 118.5% 2017 $952.5 $2586 (To date) 171.57% Yes, I deliberately missed one year: 2014. In that year, Bitcoin prices plummeted, incurring a 62% loss to investors.
That happened mostly because of the MtGox hack in 2014. After that, the price dropped from $751 to $285.
The fear of a blockchain hack engulfed investors, but it was not the blockchain which was compromised. MtGox had several fatal and exploitable flaws.
But every other year, the price of Bitcoin has steadily increased.
  1. Bitcoin can’t be banned. Due to the nature of Bitcoin, there is constant talk about “banning” it. This hostility towards Bitcoin is because it works outside the jurisdiction of the traditional banking system.
However, the fundamental design is such that it can’t be banned, only regulated. As long as you have an internet connection and a Bitcoin wallet, you can engage in Bitcoin.
Nevertheless, many countries have tried to ban it, like Bangladesh, Bolivia, Thailand, and Vietnam (among many others). But there are some countries like Australia, Russia, Japan, and Venezuela which have made Bitcoin an official legal tender and are regulating it.
However, some countries like India and even the USA are unclear of their official policy regarding cryptocurrencies.
Try as they might, Bitcoin can’t be pushed away just because it threatens the financial power structure. This is the real beauty of Bitcoin.
Facts You Need To Know About Bitcoin Bitcoin is considered by many as the most revolutionary breakthrough of the 21st century after the internet.
Numerous cryptocurrencies have come and left after Bitcoin. Some called themselves “rivals of Bitcoin” while some complemented Bitcoin.
This is proof that Bitcoin and the blockchain are here to stay.
If you know more exciting facts about Bitcoin that I have missed in this article, then do let me know in the comments!!!
submitted by Cornerstone_Estate to u/Cornerstone_Estate [link] [comments]

BTC mixing vs Monero

Assume I would like to anonymize some BTC, i.e. I want to make it as hard as possible to trace the funds to my current bitcoin address. Which is the better option:
1) Use a BTC mixer (CoinJoin, Bitmixer etc)
2) Convert to XMR and then back to BTC (via exchanges)? Lets assume liquidity on XMR exchanges is not a problem.
Is Monero/CryptoNote the 'ultimate' anonymizer for BTC holders?
submitted by 101freezer to Monero [link] [comments]

Dutch government agency intends to support the BlockStream roadmap by cutting down blockchain spam

[BitNews:] "DUTCH GOVERNMENT WILL FIGHT AGAINST MONEY LAUNDERING BY BITCOIN"
Moreover, the Het Financieel Dagblad reviews that the FIOD desires to have bitcoin mixers identified as money laundering indicators as well, although it’s doubtful how far this law would reach. It’d follow to centralized mixers like bitmixer.io, which exchange bitcoins for different bitcoins to interrupt the path to any specific piece of currency. However, trustless blending offerings, like the ones website hosting ValueShuffle or TumbleBit servers, may become a target, too.
submitted by jstolfi to Buttcoin [link] [comments]

A Plugin Framework for Litecoin Qt

Introduction

Litecoin provides an infrastructure for efficient payments and immutable data storage. While the infrastructure itself is revolutionary, we are still far from unleashing its full potential. Many more applications can be built around Litecoin. In order to facilitate easier application development and adoption, I propose a plugin framework based on the existing Litecoin Qt program.
Litecoin Qt is an "official" full Litecoin node with an easy to use graphical user interface (GUI) that can be used by those who are not technically savvy. It mainly functions as a Litecoin wallet to send and receive Litecoins.
As a wallet, Litecoin Qt does not really provide much advantage compared with lightweight wallets like Electrum-LTC. However, Litecoin Qt is the only available Litecoin full node with a nice GUI, and these properties make Litecoin Qt the ideal platform for supporting a plugin framework to host applications because many applications will need Litecoin blockchain data and an easy to use graphical interface to be suitable for normal users.
I list a few interesting example applications here and hope these will stimulate more ideas.

Example Applications

USDT

USDT is a token on top of Bitcoin blockchain and backed by USD. It is used by some major exchanges like Poloniex and Bitfinex. Technically, all data related to the token is stored on Bitcoin blockchain using OP_RETURN transactions. However, it is obvious that Litecoin is much more suitable for this job because of its much lower transaction fee and faster confirmation.
While USDT makes USD much more usable on the Internet, it does not really have an easy to use wallet. I think a plugin for Litecoin Qt that scans OP_RETURN data and finds USDT related transactions and makes OP_RETURN transactions to send USDT can become an easy to use wallet.
Many similar plugins depending on OP_RETURN transactions can be built. For example, a plugin can be used to send holiday (e.g. Valentine's day) wishes to the Litecoin blockchain, which thus lasts as long as Litecoin itself.

Efficient and decentralized CoinJoin

CoinJoin is an effective way for providing fungibility and anonymity to Litecoin users. CoinJoin services for Bitcoin are already available through centralized websites like https://bitmixer.io/ or decentralized standalone programs like https://github.com/JoinMarket-Org/joinmarket. While a decentralized program provides better anonymity and security, it incurs a cumbersome downloading and installation process, limiting its usage.
Compared with a standalone program, a CoinJoin plugin on Litecoin Qt is more available and much easier to install and use. Litecoins can be easily transferred from the Litecoin Qt wallet to the CoinJoin network for mixing and back to other addresses in the wallet with just one click.
Another advantage of making such a CoinJoin function a plugin instead of part of Litecoin Qt itself is that a plugin avoids potential legal issues. Some governments could potentially ban coins that provide complete anonymity within their protocol. Such a plugin avoids this issue and provides good anonymity and also keeps the Litecoin protocol simple.

Easier service consumption

Service providers like music streaming companies can provide plugins for users to easily pay for their services. Registration is not needed, and authentication can be done by automatically signing a token provided by the service provider using an address' private key in the wallet. Payments can be finished by simply clicking one button, and then Litecoins will be transferred to the service provider.

Implementation

Implementation of such a plugin framework requires a capable and secure plugin language. A good candidate is Lua. Lua is a widely used plugin language because of its easiness to embed, fast execution, and short learning curve.
Communication between the plugins and Litecoin Qt can be done through either Litecoin Qt's standard RPCs or C++ APIs specifically exposed by the plugin framework.
In order to forbidden plugins stealing wallets, plugins need to be sandboxed so that visiting local file systems (excluding locations for temporary files) should be disabled. While this is difficult for many script languages including Python, Lua can achieve it relatively easily. Beside that, only open source plugins shall be trusted until we have enough confidence on the framework's security.
This gives an example application with Lua plugins: https://john.nachtimwald.com/2014/08/16/extending-an-application-with-lua-plugins/. A Lua plugin for Litecoin Qt should be similar.
submitted by xinxi to litecoin [link] [comments]

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