Use privacy preserving coins such as Monero instead of Bitcoin as it is much more safe. Not bulletproof, but much better.
Monero also complicates any type of investigation much more than Bitcoin. It is very hard for investigators. They also don't want to burn techniques unless the case is absolutely massive.
Also make sure to never use an exchange that forces KYC.
rajamaka•42m ago
Seems to be the case that the conversion to fiat is the part that is difficult to do while staying anonymous
Ms-J•19m ago
As long as one takes moderate measures to stay anonymous on the network level, an exchange that is P2P or doesn't force KYC can be used to convert. There are many of them out there.
Fees may be higher is a note.
cheschire•36m ago
I also noticed on a darkweb site that keeping monero in an escrow account is used to further muddy the trail. Not sure how effective that actually is though.
idiotsecant•31m ago
Monero is great so long as you don't care about conversion to cash. That part is ... tricky.
SchemaLoad•27m ago
Of course it's difficult. Even if you could convert it to cash you wouldn't be able to deposit in any bank or meaningfully use it. The moment you do anything with it you'll trigger anti money laundering laws and have to explain where the money came from.
metadat•22m ago
Hot-dog sales outside NY stadium.
Seriously though, the days of easy tax avoidance are long gone at this point. Welcome to The Matrix of America.. and China.
Ms-J•16m ago
It isn't very difficult, see my earlier post. Once successfully converted the cash can be used in a multitude of different ways.
With an imagination and taking proper anonymity safeguards, the possibilities are endless.
solumunus•9m ago
Well yeah, you also have to launder the money if you’re a criminal enterprise…
arctanJimmy•24m ago
> Monero is great so long as you don't care about conversion to cash. That part is ... tricky.
Make no mistake, this is not coincidence. It's hard because non auditable financial transactions would undermine the fiat issuers authority.
patchtopic•44m ago
this kind of blockchain analysis for the non-privacy oriented coins has been well known at least for a decade.. I don't see how it's a secret weapon except against the naive or uninformed
ozim•15m ago
Duh, most criminals are naive and uninformed.
hereme888•43m ago
How is this a secret? It's literally a feature: transparent ledgers.
kragen•34m ago
Because in clickbait "journalism" everything is a "secret".
LexiMax•25m ago
Anecdotally, I don't think that this is widely understood by people who use crypto for illicit purposes, which isn't exactly uncommon.
Fascinating how blockchain’s transparency has flipped the script on crypto anonymity. Law enforcement now uses forensic tracing to dismantle criminal networks, from dark web markets to ransomware rings. The real challenge remains jurisdictional reach, not technical capability.
Ms-J•51m ago
Monero also complicates any type of investigation much more than Bitcoin. It is very hard for investigators. They also don't want to burn techniques unless the case is absolutely massive.
Also make sure to never use an exchange that forces KYC.
rajamaka•42m ago
Ms-J•19m ago
Fees may be higher is a note.
cheschire•36m ago
idiotsecant•31m ago
SchemaLoad•27m ago
metadat•22m ago
Seriously though, the days of easy tax avoidance are long gone at this point. Welcome to The Matrix of America.. and China.
Ms-J•16m ago
With an imagination and taking proper anonymity safeguards, the possibilities are endless.
solumunus•9m ago
arctanJimmy•24m ago
Make no mistake, this is not coincidence. It's hard because non auditable financial transactions would undermine the fiat issuers authority.