Post
Topic
Board Bitcoin Discussion
Re: should I be concerned about the history of bitcoins when buying them ?
by
witcher_sense
on 31/05/2022, 11:14:54 UTC
If I purchase bitcoins via p2p, can I get some problems if the bitcoins I get were involved in some criminal activity ? If yes then how do I avoid such situation ?
Some people will say that bitcoin is perfectly fungible, that one bitcoin is always equal to another, and that you shouldn't "judge" bitcoin by the history of transactions that take place in the network. If it is true, then you shouldn't be worried: criminal money is no better or worse than any other money, the criminal past attached to it doesn't matter at all. Unless you are operating in a regulated environment buying and selling your bitcoin on a centralized platform that must comply with the rules imposed by a certain jurisdiction to be able to conduct business. These platforms don't care much about the fungibility or privacy of a currency, they only need their business to succeed. If they feel threatened, they can freeze your transaction even if it is legal and pristine. If you want to minimize the risk of being robbed by these greedy businessmen, do not send them transactions, even the cleanest ones.

But do participate in P2P transactions between independent individuals, offer your products and skills in exchange for bitcoin. That is how bitcoin circular economy is born.