User A -> illegal drug money -> tumbler
User B -> illegal Ponzi money -> tumbler
User C -> terrorist financing -> tumbler
Tumble - Tumble - Tumble
Tumbler -> User A = illegal Ponzi money and terrorist financing
Tumbler -> User B = illegal drug money and terrorist financing
Tumbler -> User C = illegal drug money and illegal Ponzi money
User A, B, C -> Coinbase
Coinbase = Sorry we've confiscated your bitcoins because they were blacklisted.
LOL
Quote from Bitmixer:
I'm not a criminal. Why should I mix my coins?
Virtual currency is part of the here and now, but with it comes the need to guard your wallet. BitMixers high volume bitcoin mixer keeps your identity safe by offering premium mixing service with the ability to handle even the largest bitcoin transactions.
anyone normal wants to stay anonymous
Of course a company making money mixing coins is going to say that. There is no reason to mix coins other than to hide your transactions. I'm not passing judgement. Who wants to pay taxes or be busted buying drugs? That doesn't sound like fun to me.
I do think tumblers work fairly well but you don't need to be fleeced by a tumbler service to hide your coins. Greg Maxwell was working on a service to do it for free. I'll see if I can find the thread and post it.