Coinbase Questions

[deepsouthiron]

So if I am registering a coin base acct do I use my real name and all that good stuff? Also if I link a bank acct to it for quick funding is that okay?

I mean does doing this defeat the purpose of using Bitcoin?

Will coinbase still anonymize the data when you send money to someone?

 

[pumpingiron22]

You will have to link your bank account. And all info. Then you will need to was fog or tumble your coins to another wallet like block chain or what ever you decide. Just make sure you clean you coins also do small amounts at Time. To not raise suspicion.

 

[Millard]

So if I am registering a coin base acct do I use my real name and all that good stuff? Also if I link a bank acct to it for quick funding is that okay?

I mean does doing this defeat the purpose of using Bitcoin?

Will coinbase still anonymize the data when you send money to someone?

Coinbase doesn't anonymize anything.

 

[Millard]

Just make sure you clean you coins also do small amounts at Time. To not raise suspicion.

This is true. Otherwise, you may receive an email like this one sent by Circle. Coinbase is a different company but I suspect they have similar policies:

We noticed that you recently made a large transfer using Circle. That's great! Thanks for using our service.

We need to make a brief note about the transfers to comply with a regulation called the travel rule. This information is confidential and is only gathered to meet record-keeping requirements. At your convenience please respond to this message with answers to the following two questions:

Regarding your transfer of [xxxxx BTC] on [xxx xx 201x]:

1) What is the name of the recipient of this transfer, whether a company or an individual?
2) What is the address of the recipient of this transfer? (If full address is not known please provide as much information as possible)

 

[deepsouthiron]

So is that why I can start my money on coinbase and then move it to another wallet that does? Am I following that correctly. And the while cleaning thing is kinda foreign as well?

 

[Millard]

So is that why I can start my money on coinbase and then move it to another wallet that does? Am I following that correctly. And the while cleaning thing is kinda foreign as well?

Only if that wallet has some type of coinjoin or sharedcoin implementation. Most wallets don't. Even then, transaction anonymity is not guaranteed. With sufficient motivation and resources, the paper trail can still be followed. If not now, then possibly at some point in the future with more powerful software/hardware.

Remember that all transactions are recorded in a public ledger (blockchain) for the whole world to see - forever. It would suck if 5 years from now, a prospective employer or a divorce attorney or law enforcement etc etc could run an analysis to find out how you (illegally) spent your money on the bitcoin blockchain.

 

[deepsouthiron]

You will have to link your bank account. And all info. Then you will need to was fog or tumble your coins to another wallet like block chain or what ever you decide. Just make sure you clean you coins also do small amounts at Time. To not raise suspicion.

What is a small amount of coins to fog or tumble? Can it be done it very small increments or whole BTC's?

 

[deepsouthiron]

This is true. Otherwise, you may receive an email like this one sent by Circle. Coinbase is a different company but I suspect they have similar policies:

@Millard Baker if I were to receive this kind of message simply because I moved money from a circle or coin base Acct to my own wallet why wouldn't I just say that. I mean moving money from my circle wallet to my "other wallet provider" isn't illegal at all. Can my reply to a letter like this simply be moved money from this wa.let to another and leave it at that.

 

[Millard]

@Millard Baker if I were to receive this kind of message simply because I moved money from a circle or coin base Acct to my own wallet why wouldn't I just say that. I mean moving money from my circle wallet to my "other wallet provider" isn't illegal at all. Can my reply to a letter like this simply be moved money from this wa.let to another and leave it at that.

Sure. It's principle that I'm concerned about. This type of inquiry reveals they are actively monitoring and seeking to acquire information on how you spend bitcoin.

 

[deepsouthiron]

Thanks for the reply sir

 

[MindlessWork]

Sure. It's principle that I'm concerned about. This type of inquiry reveals they are actively monitoring and seeking to acquire information on how you spend bitcoin.

And if their inquiry turns up evidence of illegal activity such as buying steroids, Circle or Coinbase could close such person's account and report it to LE?

 

[Millard]

And if their inquiry turns up evidence of illegal activity such as buying steroids, Circle or Coinbase could close such person's account and report it to LE?

Even if it's not illegal, I don't like having companies monitoring my spending habits and of course it's worse if they turn over the records to the government.

The "you shouldn't care if you have nothing to hide" attitude is bullshit. We should all have something to hide even the most innocuous items.

 

[MindlessWork]

Even if it's not illegal, I don't like having companies monitoring my spending habits and of course it's worse if they turn over the records to the government.

The "you shouldn't care if you have nothing to hide" attitude is bullshit. We should all have something to hide even the most innocuous items.

Agreed, these companies should just keep shut about how we spend our money.

 

[Millard]

Agreed, these companies should just keep shut about how we spend our money.

And it's not just companies like Coinbase or Circle. Even if they turned a blind eye, there are other private companies who crawl the public blockchain with the explicit intent on identifying real people and linking them to bitcoin addresses. How would they use the data? Why wouldn't they sell it to the government?

 

[MindlessWork]

And it's not just companies like Coinbase or Circle. Even if they turned a blind eye, there are other private companies who crawl the public blockchain with the explicit intent on identifying real people and linking them to bitcoin addresses. How would they use the data? Why wouldn't they sell it to the government?

I am sure such companies would stoop so low to do that if it means $$$$ to them.

 

[Sampei]

Buy from coinbase, send to blockchain account created on tor, send that coins to helix/bitcoinmixer both better, create other multiple wallet on blockchain via tor with new identity everytime, keep sending coins to new wallets using shared coins. You will find yourself with almost anonymous bitcoin in your hand.

I say ALMOST because it can always be traced, but it could take maybe ages, so you are fairly safe.

 

[vanda3]

I am starting to think just to use WU to receive money, I think bitcoin is traceable and isn't going to help.
If your in the USA you can use WU pick up no ID or if your receiving money in Thailand then you cannot use pick up no id just have WU send it to a local bar girl you know in her name,,, lol. but really i don't know how to receive money safely. Maybe just use WU with small amounts

 

[pumpingiron22]

I am starting to think just to use WU to receive money, I think bitcoin is traceable and isn't going to help.
If your in the USA you can use WU pick up no ID or if your receiving money in Thailand then you cannot use pick up no id just have WU send it to a local bar girl you know in her name,,, lol. but really i don't know how to receive money safely. Maybe just use WU with small amounts

bITCOIN IS GREAT YOU JUST NEED TO KNOW HOW TO MOVE IT. I HAVE TAUGHT ALOT OF PEOPLE OVER PM. LOOK AT MY THREADS OR PM ME IF YOU NEED HELP.

 

[vanda3]

Ok, Going to bed soon and traveling down to see family tomorrow.
I would be interested

 

[Boilermech]

Ok, Going to bed soon and traveling down to see family tomorrow.
I would be interested

Definitely give PI a PM. He helped me realize just how easy it is to get into Bitcoin. I'll never go back. It is really simple if you do exactly what he tells you. Good luck brother.
BM