An proposition on alternative tumbling (x-post /r/BlackBank /r/DarkNetMarkets /r/AgMarketplace)

all tumblers, despite their history, are a scam waiting to happen. There is no charging this.

Until (and if) DarkCoin becomes commonly accepted, Bitcoin is king.

This still leaves this community with a huge real issue: how to disassociate coins totally safely. Below, I have devised an idea as to how this could happen. Unfortunately, one major piece is missing from it.

From the buyers perspective:

  1. Use clearnet exchange to exchange "labeled" BTC to altcoins
  2. Transfer altcoins to a secure, open source exchange hosted as a .onion
  3. Exchange altcoins for "clean" Bitcoins.
  4. Store in clean wallet.

Vendors would do this process:

  1. Transfer Bitcoins to a secure, open source exchange hosted as a .onion
  2. Exchange Bitcoins for altcoins
  3. Use altcoins to trade for BTC on a cleanet exchange
  4. Cash out Bitcoins

Ideally this open source darknet exchange would be very well defended and secure, would not allow the operator or a hacker access to the coins, and would wipe record of the transactions as soon as they are complete. Somehow, the operator would have to prove this all true.

Unfortunately, no service like this exists yet. Yet...

There has been good discussion about open source and totally p2p exchanges on the Darknet, but nothing has happened.

Someone needs to make something happen. We don't need more markets, we need a darknet altcoin exchange to replace tumbling. Whoever can create a trusted service like this first, stands to gain a lot of money.

Here are a few rescources I found while tring to understand how this could work:

I am open to any and all discussion and critisism of this idea.


Comments


[3 Points] None:

we don't need new markets,tumblers are a disaster waiting to happen and we need to adapt darkcoin. so far i agree. regulation of BTC will only hurt the darknet markets but buttercoin isn't the solution and your post reeks of pushing a coin you have invested in.

the way i see it is that DNM users will sooner or later move on to another coin that guarantees more anonymity (and isn't overrun by gambling assholes) and will use BTC to launder them because it is regulated.


[1 Points] LiteMyPipe:

OH SHIT THE TITLE!!!! eh. I'll just leave it...


[1 Points] None:

This is interesting....


[1 Points] shitstormy:

Darkcoin has potential but if darkwallet ever makes use of the $100k they raised then we wouldnt need darkcoin because we would essentially have darkcoins greatest feature on bitcoin


[1 Points] Wolf0:

This shifts the scam waiting to happen to the exchange. What we ACTUALLY need is trustless mixing, which can be done.