Superior Coin is a secure, private, untraceable currency that is based on the CryptoNote protocol and possesses significant algorithmic differences relating to Blockchain obfuscation. Superior Coins main emission curve will have issued about 1.5 billion coins to be mined in over 30+ years.
It is my understanding that coinbase is the only platform that allows you to convert crypto to fiat. Is this true? If it is, how is it “untraceable” if your US bank account is obviously tied to coinbase?
I'm relatively new to bitcoin. Been researching for months but I've been putting off actually diving into it. I was about to sign up for Coinbase since it seems to be easy, but heard it can be traced. Not doing anything (too) illegal, but would prefer anonymity. Does anyone have suggestions as to easy-to-navigate wallets that can't be traced? Or know if I'm completely wrong about Coinbase? Thanks!
Possible way to make bitcoin untraceable: buying "virgin coins" from miners
I got this idea while looking at the coinbase transactions in blocks mined by P2Pool and Eligius. What if a mining pool offered a special service on the side to purchase virgin coins, a portion of their block rewards, for a fee. So every time this pool mined a block, even if it was a centralized pool like GHash.io, they would - in every block mined - construct the block rewards transaction with multiple outputs, with random values that add up to the total. But here's the catch, the mining pool only actually controls a portion of those addresses. The other addresses were purchased from the pool ahead of time. The miners in the pool still get their payouts - in advance even. Essentially it's combining mining and laundry in one process, but the magic trick is instead of mixing lots of peoples' coins together, you are buying coins that have absolutely zero taint. As block rewards decrease, a mining pool can create an unlimited number of virgin coins by adding extra transactions with enormous fees into their own blocks. So imagine every time LaundryPool mines a block, the reward plus transaction fees is like 200 BTC! Every block would look equally confusing, and there'd be no evidence in the blockchain itself how many virgin coins the miner actually kept.
01-26 07:34 - '[quote] Or have really bad timing. Or there is also no bank system to actually store your currency safely, and no repercussions for someone stealing 50 million in bitcoin. Untraceable, and completely useless as a real curr...' by /u/Berty13833 removed from /r/history within 506-516min
cryptocurrency can only be stolen if you're stupid
I was looking for some info on Bitcoins just out of curiosity and most of it mentioned how they can be used for illegal services do to the fact that they are untraceable. My question is what makes them so untraceable, and wouldn't they become traceable at the point in which they are converted back into a traditional form of currency?
I was at my first crypto meetup last week and started talking monero with some guy. He said, "Bitcoin is just as private as monero, man." "It's a public blockchain." "Nah, nah, listen. If I have $100k in bitcoin, I can just move it, dollar by dollar, to thousands of wallets and then move it all back to one wallet. Bitcoin's untraceable if you play your cards right." "...It's a public blockchain, so anyone can see where the money went, wallet to wallet, because it's all recorded and viewable." "Oh, shit. You're right. Damn, you're smart! None of the people I've talked to have been able to argue that." "..."
06-17 21:34 - 'If you want quasi-perfect anonymity you need to use Monero instead. It comes with the drawback of more clunky transactions tho. However, there is nothing that beats it in terms of anonymity/untracability.' by /u/redzorino removed from /r/Bitcoin within 65-75min
In reality, Bitcoin transactions are not untraceable and the entire system is built on traceability through the blockchain where all transactions are logged openly and permanently. More and more criminals are being caught even though they use Bitcoin for their transactions on the deep web. Each fake preorder cost 100 US dollars. Bitcoin Mixer(Blender) is a service that makes your transactions on the blockchain untraceable. As you read further, you will get to understand clearly how this works with all the information concerning this service. Bitcoin is often portrayed as an untraceable method of payment that facilitates illicit activities by enabling criminals to make and receive payments without being tracked. This depiction implies that users transacting in bitcoin can do so completely anonymously — that their identities will not be exposed. making bitcoin more private and untraceable For those wanting to keep their activity private, it is recommended that you use a new bitcoin address every time you make a transaction. This will make it essentially impossible for outsiders to link any of your transactions back to you as there will not be a common address. Is Bitcoin really untraceable? You May Also Read: Is Blockchain Anonymous? The Truth About Bitcoin’s Untraceability. Bitcoin, contradictory to popular belief, is not anonymous in nature. What it is, instead, is pseudonymous. This means that Bitcoin represents transactors by means of a pseudonymous element: which, in this case, is the public
A short introduction to how Bitcoin Works. Want more? Check out my new in-depth course on the latest in Bitcoin, Blockchain, and a survey of the most exciting projects coming out (Ethereum, etc ... US Department of Homeland Security Seizes Bitcoin Operator Accounts US authorities have frozen the account of the world's largest Bitcoin exchange, which helps move the customers' cash online. This video shows a step by step process of how to remain anonymous when sending bitcoins, Ethereum and Litecoin by making the transaction untraceable using Bitcoin Mixer. Bitcoin is the preferred form of payments on the Dark Web. After this lecture you should understand why. How to buy Bitcoin Anonymously (2019-2020). Easy ways to buy Bitcoin without ID. ***ARE YOU CURIOUS ABOUT HOW I MADE $1,006 From $100, THEN $257,000 From $1,006 ONLY WITH CRYPTOCURRENCIES?***