Some clarification is needed to this board due to the recent incident with ChipMixer.
To all advocates of anti-anonymous Bitcoin and Internet tools: Bitcoin mixing is
NOT money laundering, per se.
Definition of money laundering:
Money laundering is the process of illegally concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdictions with varying definitions. It is usually a key operation of organized crime.
Definition of Bitcoin mixing:
A cryptocurrency tumbler or cryptocurrency mixing service[1] is a service that mixes potentially identifiable or "tainted" cryptocurrency funds with others, so as to obscure the trail back to the fund's original source.
Unless you think that every potentially identifiable coin is obtained illegally (which would be false), Bitcoin mixing does not equate with Bitcoin laundering. While it is possible to launder, hereby conceal the origins of money from an illegal activity, it is not a money laundering service, in the same manner that while it is possible to terrorize with the assistance of end-to-end encryption and peer-to-peer protocols, such a messenger is not a terrorism service.
When you mix coins, not only do you just not want from the rest to know your business;
you want them to know you want to conceal it. It can be a completely conscious decision from any person; criminal or not. If you don't respect this dignify-respecting technique which strengthens individuals' privacy, say it, but say it right; "
I don't want that much privacy". Prepare to receive an infinite amount of deprecation from privacy advocates afterwards, but clear it up.
P.S.: You can't have privacy without money laundering due to the nature of humans-- by the way, the opposite does not necessarily hold true.
First off, let me express my gratitude for your clarification on the dissimilarity between Bitcoin mixing and money laundering. It's imperative to comprehend that blending of coins doesn't equate to engaging in illegitimate activities. However, my skepticism towards Bitcoin's anonymity remains intact, and its traceability to the source is a matter of concern. In my view, it's essential to safeguard one's privacy, but simultaneously, one must adhere to the cryptocurrency-related laws and regulations.
I truly believe that people have the right to keep their personal stuff private and should be able to prevent anyone from snooping around where they don't belong. But you know what? With all the hackers and cybercriminals running amok, we gotta find a way to balance privacy and security. It's not gonna be easy, but we gotta do what we gotta do to keep everyone safe.