Post
Topic
Board Altcoin Discussion
Re: What are the dangers of mixer/tumblers
by
kaseygriffin
on 24/03/2023, 06:44:32 UTC
Mixers or tumblers are services that allow users to mix their Bitcoin transactions with those of other users to obscure the source and destination of funds. While mixers can be useful for maintaining privacy, there are also some potential dangers associated with using them. There are several services that claim to offer this level of security, but it is important to be careful of any claim that the mixer is completely secure or anonymous and at worst is blacklisted by exchanges and other service providers.
This is we have an option to use decentralized exchange and cash out without bank, but it's hard since you need to find someone who's willing to trade with you.
I do understand the whole concept of mixers and I have always wondered why that. If there is nothing to hide, why will I go through the risk of losing my Bitcoin if I might not get them back? Coming back to your statement, you do understand that has been the problem with Bitcoin transactions or Crypto in general, how many places can we spend crypto for now or how easy can you find someone that you can trade in exchange for goods/services? even after using the DEX, you still need the bank at least for now may be it might change in the future.
The point is, looking at the standards that people set here, I realize that the risk or benefit depends on how we do it.
There are many different use cases here, and it's not made to serve any particular purpose, some really useful and some shady.
I have heard about the ChipMixer crypto mixer crash, but I only see one-sided information that is alleging money laundering, I don't deny it but looking at the way they charged the whole thing made me laugh.