Post
Topic
Board Bitcoin Discussion
Re: Do we even need bitcoin mixers?
by
Z-tight
on 08/01/2024, 18:50:59 UTC
and the reliable ones never run with your money.
All mixers start off as being 'reliable', mixers are good but you must understand that you lose custody of your coins when you use them, so if a mixer suddenly stops being 'reliable' as we've seen it happen often, there is a chance you may lose your coins. This is why people prefer self custodial privacy solutions like CoinJoin implementations.
The exchanges especially decentralized exchanges can't be trusted because they can be rug-pull schemes. I have seen many decentralized exchanges that scammed their users and took a rug-pull type of exit. That's another reason to not trust the decentralized exchanges.
Can you name a few? True p2p exchanges do not hold the funds of their customers', so there is no way for them to rug-pull them. Take note that you don't 'trust' true decentralized exchanges, it is trustless, just like BTC. Because all they do is connect you to your trading peer, you don't have to 'trust' them with your data or your funds.