We don't need Dash to be anonymous.
1- Create an encrypted BTC wallet on your PC, connected via TOR
2- Buy BTC on Bitstamp with Fiat
3- Send BTC to your local wallet
4- Save the encrypted wallet.dat in cold storage or online drive, just to have a backup
Now, adversaries may think you sent coins to yourself , so that shady local BTC address probably is yours.
BUT, when they knock at your door they will find just encrypted data and you are not going to give them the password.
So they don't have the proof that BTC address is yours, right ?
You can pretend that someone hacked your Bitstamp account and robbed your coins
P.S. Alternatively we can use I2P instead of TOR, but i am not sure it will be more secure, i don't know the differences and implications from a privacy standpoint
1- Create an encrypted BTC wallet on your PC, connected via TOR
2- Buy BTC on Bitstamp with Fiat
3- Send BTC to your local wallet
4- Save the encrypted wallet.dat in cold storage or online drive, just to have a backup
Now, adversaries may think you sent coins to yourself , so that shady local BTC address probably is yours.
BUT, when they knock at your door they will find just encrypted data and you are not going to give them the password.
So they don't have the proof that BTC address is yours, right ?
You can pretend that someone hacked your Bitstamp account and robbed your coins
P.S. Alternatively we can use I2P instead of TOR, but i am not sure it will be more secure, i don't know the differences and implications from a privacy standpoint
Awesome! Thanks for sharing this guide, mate. I never thought all of this was possible with Bitcoin. With the use of TOR, alongside the other steps you've mentioned, it is possible to achieve strong anonymity without having to switch to another cryptocurrency like DASH.
Still, DASH has some unique features like Masternodes and instant transactions, which Bitcoin lacks of. All in all, we could enjoy the goodness of both cryptocurrencies to achieve privacy and quick settlement within our transactions.
If you want really anonymous and untraceable transactions, use Monero. It is based on ring signatures, which makes the sender, receiver and the amount being sent undetectable and the transactions untraceable by default. You don't have to use any "special feature".
I think that the anonymity capabilities of Monero are self-demonstrated by the following statement of the officials after the AlphaBay shutdown: "In total, from CAZES' wallets and computer agents took control of approximately $8,800,000 in Bitcoin, Ethereum, Monero and Zcash, broken down as follows: 1,605.0503851 Bitcoin, 8,309.271639 Ethereum, 3,691.98 Zcash, and an unknown amount of Monero."
I think that the anonymity capabilities of Monero are self-demonstrated by the following statement of the officials after the AlphaBay shutdown: "In total, from CAZES' wallets and computer agents took control of approximately $8,800,000 in Bitcoin, Ethereum, Monero and Zcash, broken down as follows: 1,605.0503851 Bitcoin, 8,309.271639 Ethereum, 3,691.98 Zcash, and an unknown amount of Monero."
True. Monero has always been one of the greatest anon cryptocurrencies out there, providing true untraceability similar to what ZCash does with its shielded transactions. With coins like XMR, you don't need to worry about third parties obtaining your financial information, as block explorers would be of no use to identify the true recipient of the transaction.
With this in mind, XMR could really take off, especially in the dark net markets, although AlphaBay has been shutdown lately. Still, other markets could emerge, as well as increased user interest into preserving their privacy, to help make Monero reach new heights. Just my opinion.
