Silk Road forums
Discussion => Security => Topic started by: 18kct on August 27, 2011, 05:32 am
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I would like to know what you all think about using bitcoin games like bitcoinduit.com ponzi games to "tumble" your own coins to and from you SR wallet. you can set up a ponzi round with your home wallet as the host...set it up with stupid high fees, and stupid low payout to keep others from placing their bets, and after the time limit expires the site "refunds" your initial deposit into a different wallet than what paid it.
does this seem like a good idea to anyone else?
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After the MtGox user database leak and the loss of user's Bitcoins from Mybitcoin, I'm just skeptical of sites that offer to hold your coins for a while and then give 'em back. And I'm skeptical of whether coin tumblers actually obscure the ownership of Bitcoins or just add a few more transactions that are easily traced. From what I've read, Bitcoins aren't really anonymous, they're just new, and the software to track their transfer from one point to another just hasn't been written yet.
To me, the one Bitcoin transfer method that should hold up in an investigation is the transfer of Bitcoins from one user to another. If the identity of the recipient of Bitcoins is not known, then the trail reaches sort of a dead end. i.e., if you send Bitcoins to user HoldingCompanyX at Bitmarket.eu, then how is this transaction different from, say, a donation to the Red Cross? What you got in return for your payment to HoldingCompanyX is unknown, but it could just as well be for something legitimate.
I guess what I'm trying to say is that owning Bitcoins is not a crime. The fact that you transferred Bitcoins to another user who may have then used those Bitcoins for something illicit is not your responsibility.