Coinbase may monitor who you send payments to up to 4 hops

MindlessWork

Member
AnabolicLab.com Supporter
Yup big brother is at it trying to scare people from using bitcoin for purchasing gear. Even sources must be getting nervous.

That's why we need a more foolproof cryptocurrency exchange system. Fuck coinbase.

Will dark or offline wallets help?
 

TexasBear

Junior Member
That's crazy. Hopefully guvmint got bigger fish to fry than me! If they sieze my account I am broke til payday but not much else. I ain't worth sh$$. :)
 

master.on

Member
Blockstream CEO Adam Back:

"Some of the exchanges and wallets are using tracing services, and [if there is a connection to illicit activity] up to four hops deep away from you, they will freeze your account."
This threatens fungibility. Possible solutions are anonymity services like JoinMarket, Tumblebit and MimbleWimble

What If One Bitcoin Isn’t Like the Others? Fungibility Debated At Scaling Conference | CoinDesk
So they are safe if they use 4 tumblers before transferring for illegal activities?
 

master.on

Member
Yup, that may be soon the ONLY way to pay for gear, considering now that authorities are now putting pressure on the bitcoin exchanges to watch for illicit activity. Already it's tough as it is to send funds via MG/WU.
Any sources already accepting Cash In Mail payments that you know of?
 

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