Bitcoin mining.

[Bitcoin]

Spend and Accept Bitcoins.
Here are a few ways you can spend and accept bitcoins in Thailand.
Spend Bitcoins in Thailand Smiling Albino tour company started accepting Bitcoins on August 1 st , 2017. Since then, the tour guide company has seen 2% of their payments made by Bitcoins. Stephanie Rowe, director of business development and marketing at Smiling Albino, said her decision to open Bitcoin payments was for their customers.
"Moving money internationally via bank wire is expensive and slow," said Rowe. "Credit card fees in Thailand are quite expensive. As a service-based company we're always looking for solutions to make payments as painless and easy as possible for our clients."
Stephanie is optimistic about Bitcoins in Thailand. She sees the kingdom as one of the early adopters of cryptocurrency, a currency that she believes is only going to grow.
"Bitcoin payments and ATM's are popping up all over Bangkok," Rowe continued. "Some of the most known examples are the BTM's on Koh Kret, and payments accepted at trendy bars like Sway in Thonglor, all the way down to noodle shops in Siam square. There is such a variety of places accepting Bitcoin."
Adam Ivory, of Eat Me Restaurant also sees potential with Bitcoins in Thailand. The operations manager told me they started accepting Bitcoins four years ago, and although Bitcoin use has been growing slowly, it's also been growing steadily. "When our customers pay with Bitcoins, they are very quick to spread the word," Ivory said.
If you're looking for other places to use Bitcoins in Thailand, check out this Bitcoin merchant map. Although there are few options, I suspect the map will grow as more businesses start accepting Bitcoins.
If you'd like to pay your monthly rent with Bitcoins, you can sdo so at XVI Condominium Bangkok. XVI Condominium Bangkok is a condo project developed by AP (Thailand), located at Soi Phai Sing To, Khlong Toei, Bangkok 10110. There are several rooms in the condominium that allow you to pay your rent using either Bitcoin or ripple.
Bad Burger Bangkok, located on 392/9, Sukhumvit Rd, is often described a one of the best burger joints in Bangkok. And they also accept Bitcoins.
Lastly, there is Pattaya Beer Garden, perhaps one of the first businesses in Thailand to accept Bitcoins. This is one of the most popular places to start off a night in Pattaya's walking street. The beer garden offers a selection of beverages and food that you can pay for using Bitcoins.
Accept Bitcoins in Thailand.
If you're a business owner interested in accepting Bitcoins check out Coin Pay. They're the main way to accept Bitcoin payments in Thailand.
Brick and Mortar Businesses Joining Coin Pay lets you print a Bitcoin sign for your business. You can also get paid in Bitcoins or the Thai Baht equivalent. So if a person pays in Bitcoin, you'll get Thai Baht at the current exchange rate. Coin Pay also offers a mobile app so you can accept payments anywhere.
Web-Based Businesses You can use Coin Pay on your website with e-commerce plugins for Woo Commerce, Zen Cart, and Open Cart just to name a few.
Woo Commerce offers Stripe. ZenCart offers The Coin Pay and LitePaid. Open Cart offers Coinbase, Bitcoin Payment Method, and CoinGate.
Trade Bitcoins.
Editor's Note: This section was added on February 3, 2018. It was a contribution made by a Thailand Starter Kit team member who trades Bitcoins and other cryptocurrency.
Although there are a few cryptocurrency trading platforms in Thailand, Bx.in.th is Thailand's biggest and oldest and is owned by Bitcoin Co. Ltd. The company has been in operation since 2013 and allows registered users to buy and sell various cryptocurrency for Thai baht.
Setting Up an Account.
The initial registration process for the Bx exchange is quite straightforward, you are simply required to submit your email, username, first and last name.
But the verification process gets a bit tricky and somewhat old school. After verifying your email via a link sent to you after registration, you are then required to verify your identity by uploading a selfie of yourself holding your ID or passport with the information page facing the camera and an A4 paper with "bx.in.th" written on it and your signature.
The platform usually takes anywhere between one to twenty-four hours to verify your identity.
Once your identity is verified, you are then required to verify your Thai bank account. The site unfortunately does not allow the exchange of foreign currency or third-party transfers, so you are required to have a Thai bank account in order to use the platform.
The platform requires you to provide details such as your Thai bank account number, name, branch location, and requires you to upload a scanned copy or picture of the bank book linked to that account.
Deposits.
The process of depositing funds into your bx.in.th account is a bit tedious. You are initially required to create a deposit on the website and deposit the exact amount into the Bitcoin Thailand's bank account. You can do this either by bank transfer or direct deposit at the Bank or ATM.
Once you have made the deposit, you are then required to submit a receipt showing the exact deposit amount and your account details. The process usually takes between fifteen minutes to one hour, but if there are any discrepancies between the deposit amount or your details on the receipt, your deposit would need to be verified manually and this usually takes up to twenty-four hours.
Once the deposit is verified, the money is added to your BX account and you are ready to trade. All Thai baht deposits must come from within Thailand.
You can also deposit other cryptocurrencies into your BX account and the amount is immediately added to your account once the cryptocurrency has enough confirmations on its blockchain network. You are also required to ensure all deposits involve only Thai baht and no other foreign currencies. Most deposits on the site are free.
The process of withdrawing funds from your BX account is fairly simple. If you wish to withdraw your money in Thai baht, you simply have to sell your cryptocurrency at your preferred rate and withdraw your Thai baht directly to your Thai bank account.
The time it takes for the money to reflect in your bank account is highly reliant on the following factors:
the amount of money you wish to withdraw which bank you use where your branch is located the amount of withdrawals the platform has to process on that day.
The process usually doesn't take more than twenty-four hours.
The platform also allows you to make cryptocurrency withdrawals and this takes about fifteen minutes, but it could take longer for withdrawals of large sums.
The withdrawal fees charged by the platform are not fixed and they are subject to change at any time without notice. So I would encourage you to check their fee schedule before making your withdrawal.
Trading.
Trading on the BX platform is fairly easy. After you have deposited your funds in either Thai baht or cryptocurrency, you can simply go to the trading section of the platform and purchase whichever cryptocurrency you wish to purchase.
The platform has three different markets:
Thai Baht (THB) Markets - This market allows you to purchase up to eleven different cryptocurrencies, including Bitcoin and popular altcoins like Ethereum, Litecoin, and Ripple using Thai baht. Bitcoin (BTC) Markets - This market allows you to buy up to thirteen different cryptocurrencies using Bitcoin, which means you would have to purchase Bitcoin using Thai or cryptocurrencies in your portfolio in order to purchase coins that are only available in this market. Ethereum (ETH) ERC20 Tokens - This market houses ERC20 tokens. These tokens piggyback on the Ethereum network, are hosted by Ethereum addresses, and are sent by Ethereum transactions. You can purchase these tokens using Thai Baht.
The platform also allows you to create, buy, and sell orders so you can take advantage of trading opportunities and mitigate your risk. The platform charges trading fees; the standard fee is 0.25% per trade.
I got bitten by the cryptocurrency bug about a year and a half ago. At the time I was highly motivated by the high profit margins that a few of my friends had made from Bitcoin. At the time most of my friends where using the Coins mobile app to trade Bitcoin but I was having great difficulty getting my identity verified by the exchange and after numerous attempts I decided to give up and look for alternative cryptocurrency exchanges.
The problem was that I could not trade in Thai baht on most of the popular cryptocurrency exchanges, such as Bitstamp, Bitfinex, Coinbase, Cryptsy and BTC-e. This meant I had to buy Bitcoins on an exchange in Thailand and transfer it to one of these exchanges which brought me back to the point where I started. I still needed an exchange based here in Thailand.
This led me to discover the BX exchange and I felt like I had hit the jackpot. The exchange not only allowed me to buy Bitcoins without the hassle of having to go through many different exchanges but the exchange also allowed me to trade other variations of cryptocurrencies, which are known as altcoins. The BX exchange currently allows me to trade twenty-one different types of cryptocurrencies and at very reasonable fees.
Unlike many other exchanges, BX exchange has never been hacked and has excellent security, which is a big plus considering the large amount of money that people have lost to hacks on a lot of exchanges recently. The exchange also allows me to withdraw my money easily in Thai baht directly to my bank account as compared the the international exchanges where I would have to use the difficult Bitcoin route I mentioned above.

[Bitcoin]

The only notable drawbacks about BX exchange is that the site is down for maintenance a lot, especially during periods of high trade volumes. Which leads to investors losing out on trades. If you are interested in trading cryptocurrencies in Thailand, I would highly recommend the BX exchange. You can sign up here.
It's hard to imagine with all the old mom-and-pop shops and noodle stands and markets that bitcoin will ever replace cash-money in Thailand. But I wouldn't be surprised if the cryptocurrency becomes the choice payment method for Thailand growing digital nomad community.
Hashcube Announces Bitcoin mining Investment Forum in Thailand.
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
Hashcube, a Korean Bitcoin miner retail and mining company, is proud to present Thailand's first ever Bitcoin mining investment forum on 21st September at the Amari Watergate Bangkok.
Together with large players from the crypto-industry such as Bitkub, BTC.com, Coolbitx and Cryptomind, we're hosting an event where top industry leaders will be discussing the current landscape and sharing inside knowledge of profitable crypto investment and top solutions to building your crypto portfolio.
In addition, company exhibits and networking opportunities will also be available for everyone to connect and ask questions to help ensure a profitable journey through crypto investment.
Topics that will be covered includes:
- The current landscape of cryptocurrency and where its headed.
- Investment opportunities that yield high rate of return today and in the future.
- The opportunity and high ROI that mining crypto yields.
- Crypto Exchange and how you can invest and benefit through it.
- How to set up your own wallet or crypto pool.
With an audience of crypto enthusiasts and top crypto visionaries all gathered together at the Amari Watergate for an eventful forum, you will build knowledge and network that will help you be successful in building your very own crypto investment portfolio. We hope to see you there!
Register Today! -- Cryptocurrency Mining Investment Forum.
SEVEN QUESTIONS: BITCOIN TAXATION IN THAILAND.
Dr. Ulrich EderFollow.
Director and Co-Owner, Pugnatorius Ltd.
Like 20 Comment 7.
Cryptocurrencies have gained pretty much in value, and it is no surprise that the tax authorities all over the world are greedy enough to take their share of profits easily earned. Bitcoin millionaires all over the world will not expect concessions or a honeymoon period with the tax authorities in their home country. Should they expect that Thailand is an easy cryptocurrency tax paradise?
The Thai government made it already clear: "The Revenue Department has been assigned to tax such transactions," said Deputy Finance Minister Wisudhi Srisuphan according to the Bangkok Post (18/12/17). You have been warned.
The public, immutable and time-stamped blockchain is everywhere.
Thailand has for personal income tax purposes a territorial tax system. As a consequence,
taxpayers in Thailand aim to avoid taxation of their BitCoin or AltCoin business, and taxpayers might use a move to Thailand as a smart tax planning tool to prevent taxation of the BitCoin profits they obtained while being resident in their home country.
However, it is a highly optimistic viewpoint that such tax avoidance can be accomplished without careful tax structuring and expert tax advice. The following seven questions have to be answered. Moreover, it is excellent advice to get the full picture before the very first step is made to cash out the profits.
1. The character of cryptocurrencies: The legal viewpoint of the Securities and Exchange Commission (SEC) of Thailand can be found here:
However, is this statement relevant from a tax point of view and will the Revenue Department agree with the SEC? Above other aspects, different AltCoin cryptocurrencies might be treated differently, because of their different technical nature. It is naive to uncritical equate BitCoins with funds on a foreign bank account. Same same but different?
2. The acquisition of cryptocurrencies: Thai tax implications have to be examined in the case of BitCoin acquisition by Thai residents as well as the use of Thai exchange agents in case of non-residents. Entering Thailand with a BitCoin wallet might be taxwise the same as the acquisition in Thailand itself. How is it treated when the Bitcoin leaves the country temporarily or permanently? Does it make a difference to keep the coins in the exchange server or transfer to the wallet?
As a general taxation principle, profits are taxed when they are realized. Individuals are taxed when the income is received. Does this mean that the increase in value - while the taxpayer is resident in Thailand - is not taxed? What does "realization" mean in the digital world?
3. Purchase of goods with cryptocurrencies: Is the purchase of goods in Thailand (re-)qualified as an exchange of BitCoins into THB combined with a local purchase? How is this different if goods or services are paid abroad? How is the tax treatment if the type of digital currency is changed (BitCoin2AltCoin)? In which cases is a combination of transactions taxed as one task? What are the chances of double taxation in Thailand as well as in the country of the contract partner?
4. Exchange of BitCoins: Does it make a difference to exchange against Baht or foreign currencies or cryptocurrencies? Does the tax treatment differ for tax residents and non-tax residents? Which exchange agencies are under the observation of the Thai government? How big are the chances to keep the transaction under the radar? Is there an eligibility limit?
Is the exchange of BitCoins outside of Thailand never ever a Thai tax event? Which foreign taxation should be considered? Will the foreign transaction trigger a reporting obligation in Thailand? Which tax structuring is possible to minimize the tax risks?
Conversion of purchased into self-made crypto coins: How to transfer tax-contaminated local bitcoins into a cloud mining business abroad to obtain foreign-sourced crypto mining income to void the Thai taxation.
5. Utilizing of crypto losses for tax purposes: How to deduct losses from cryptocurrency investments from previous or future profits? Tax-loss adjustment with different coin classes. Cross-border offset strategies with international exchanges in different jurisdictions. How to transfer crypto coins between taxable and non-taxable areas? What are the right procedures, applications, and documentation standards under Thai legislation and industry practice?
6. Transfer of foreign Bitcoin profits to Thailand: Is it a bullet-proofed solution to defer the money transfer into the next year? Do BitCoin generate foreign-sourced income because these peer-to-peer decentralized cryptocurrencies are property located outside of Thailand? How can the taxation in Thailand be avoided? Which documentation and receipts have to be prepared?
7. Bitcoin mining taxes and TICO taxation: Thailand is much too hot for mining operations, but the physical mining can be done by Thai residents in the cryptocloud. When are mining activities starting to be work and a business? What is the tax basis of mining operations and how to efficiently move the mine to a cryptocurrency-friendly jurisdiction?
What are the tax planning opportunities in a TICO (Thai Initial Coin Offering), apart from its regulatory hurdles? How to optimize the TICO for its participants and to protect the AltCoin owners from Thai taxation?
What are the tools of the Revenue Department to identify taxable transactions and to efficiently tax based on justified or estimated profits and tax bases? When will the wealth and investment management convert into a Bitcoin business? When will VAT occur (and when is this all qualified as work in the meaning of the foreigner laws)?
Finally, if Thailand is such cryptocurrency tax paradise, wouldn't it make sense for BitCoin millionaires abroad to become resident in Thailand to avoid the foreign taxation burden?
The blockchain as tax inspector's paradise.
Cryptocurrency transactions are stored on a public, immutable, time-stamped ledger, called blockchain. Therefore, in the digital currency world, transactions are forever documented.
The transaction is not linked to a real name, but just to the specific key. Such public key makes it possible to conclude the individuals behind if it has ever been used on an exchange server or other platforms that require identification.
Due to such a semi-anonymous character of the blockchain, digital currency ownership could be, in a tax audit subject to complete disclosure. The inquiry would not be limited to a current snapshot. The tax authorities will look at account histories and title chains and scrutinize transfers made in the past and immediately before a tax audit to flush out potential tax evasive transfers.

[Bitcoin]

Arkansas Quartz Crystal Mining World Championship Dig - 2018 Edition|12:14

[Bitcoin]

How much can you earn Mining ethereum with an RTX 3090?|13:37

[Bitcoin]

Industrial level Bitcoin mining Accidents: Thailand.
This is what a Bitcoin mining accident looks like.
A Bitcoin mining facility in Thailand has been destroyed in a massive fire this week and foul play has not been ruled out, according to a local source.
The 5-megawatt farm was operated by mining cooperative Cowboyminers and primarily relied on Spondoolies-Tech and Innosilicon hardware, with some additional miners from BitFury and Gridseed.
According to Coindesk Cowboyminers was formed by a group of European expats living in Bangkok, who tried to maintain a low profile, but at the same time operated a relatively extensive mining operation.
Details of the fire are hazy, though local media reported flames raging through a warehouse full of servers near Bangkok on October 14. This week, a photo of the devastation popped up on the forum BitcoinTalk, which identified the facility as one owned by the mining operative.
Both Cowboyminers and Spondoolies-Tech, the company that made much of the mining hardware in the warehouse, have popped up in the BitcoinTalk thread to discuss the fire. It seems like no one was hurt, but the equipment was uninsured, so tough loss.
What we still don't know is what started the fire. Cowboyminers denied that the electrical wiring caused the fire.
A photo of the facility before the fire. BitcoinTalk.
In any case, the fire highlights the possible pitfalls for any Bitcoin mining startup. Bitcoin mining's appeal is its relative simplicity--you just need computing power. But setting up a facility is more complicated than throwing a bunch of hardware together in a room.
Every detail of the traditional data center is designed with cooling in mind, from the placement of vents to the hot aisle/cold aisle layout of the equipment.
Regardless of how the fire started at the Thai facility, it clearly spread, possibly because of a flammable acoustic foam. A traditional datacenter would have also had sprinklers--or in fancier iterations, gas fire extinguishing systems--that detected smoke or heat early on to minimize the damage. Of course, these systems don't come cheap. Bitcoin mining accidents are a risk operators run when mining on a large scale.
Mining for currency on expensive hardware may no longer involve people, but it still does involve monster machines--machines that are very expensive and very destructible.
How to Buy Bitcoin in Thailand.
It makes sense for Bitcoin and cryptocurrency to be used in the country of Thailand. This is one of the key travel destinations in southeast Asia, and frequent travelers have been known to be one of the key demographics that understand the value proposition of Bitcoin as soon as they hear about it for the first time.
That said, the government of Thailand has not always been accepting of this new technology that has the potential to disrupt the traditional financial system in the country. There have been calls for bans on Bitcoin and other cryptocurrencies in Thailand, but it is completely legal to use this financial technology in Thailand today.
Anyone who wants to purchase their first Bitcoin in Thailand will have a number of different options at their disposal, from Bitcoin ATMs in various cities around the country to global exchanges that allow users to trade a variety of different cryptocurrencies. Additionally, anyone who finds themselves in Bangkok will notice there are also a number of locations where you can actually spend your Bitcoin and use it as real money.
What's on this page.
Best Cryptocurrency Exchanges in Thailand Is Bitcoin Legal in Thailand?
Best Cryptocurrency Exchanges in Thailand.
Trustworthy exchange Supports many different funding options Accepts users from across the globe High trading volume.
Binance.
Easy sign-up process Lowest transaction fees of any major exchange 175+ different digital assets available Free deposits.
Excellent customer support Very fast transactions Major coins are available for purchase, including Bitcoin, Ethereum & Litecoin Great security.
Is Bitcoin Legal in Thailand?
The rules and regulations around Bitcoin in Thailand are a bit more strict than many other countries around the world, but users of the cryptocurrency don't really need to worry about the specifics. As is the case pretty much everywhere else, users of cryptocurrency exchanges must provide these platforms with a large amount of personal data in order to trade cryptocurrencies. This information is collected from users on exchanges in order to prevent the use of cryptocurrencies in various forms of illicit financial activity such as money laundering.
The key difference with how exchanges are regulated in Thailand is that these companies are not allowed to use fiat currencies other than the Thai Baht. This is an attempt to protect Thailand's own local currency against competition from the US dollar, the Euro, and the other major fiat currencies around the world. One side effect of this policy is that it has increased the liquidity of the THB/BTC trading pair. Most countries do not see much liquidity in trading pairs associated with their local currency, as the majority of the trading volume tends to be focused on large fiat currencies like the US dollar.
It should be noted that Bitcoin was illegal in Thailand at one point in time, but this decision was eventually reversed. Those who are using Bitcoin in this country should still keep an eye on the news related to how Bitcoin is regulated in Thailand, as it's possible this decision could be reversed again in the future.
What is the Fastest Way to Buy Bitcoin in Thailand?
If you're more worried about getting your hands on some Bitcoin as fast as possible rather than factors like privacy or cost, then a Bitcoin ATM or some form of P2P exchange is going to be your best option. These sorts of solutions can help you turn the cash in your wallet into Bitcoin or another cryptocurrency in a matter of minutes. Going through one of the large, global Bitcoin exchanges will not be the best option if you're worried about speed due to the fact that you'll need to go through additional layers of verification before you can make your first purchase.
Coins.so.th is a well-known Bitcoin and cryptocurrency exchange in Thailand, and this platform will allow you to gain access to the cryptocurrency market quickly via a number of different payment options. They are even integrated into many traditional bank ATMs, which will be your best bet if you're starting with cash and want to convert those bank notes to Bitcoin as quickly as possible.
What is the Cheapest Way to Buy Cryptocurrency in Thailand?
If you're interested in making large buy orders on the cryptocurrency market, then you'll want to look at the well-known, global exchanges that have high levels of liquidity. Kraken is an excellent option for anyone around the world who is interested in trading at a low cost, and they have a number of different interfaces for both beginners and veterans of the online trading world.
You also need to consider the cost of getting your funds onto one of these exchanges before you make your first deposit. The global exchanges don't have trading pairs that involve the Thai baht, so you'll need to convert your local currency into US dollars or euros before you can start trading. This transition from bahts to another fiat currency will also come with fees, and those fees will depend on how you're making that conversion.
What is the Best Cryptocurrency Exchange to Use in Thailand?
When you're buying Bitcoin, Ethereum, or some other cryptocurrency in Thailand for the first time, your best option will likely be Coins.co.th. This platform is extremely easy for new traders to understand, and they have a customer support staff that can help you through your first few orders. In addition to Bitcoin, this platform also offers trading in a number of different altcoins. Additionally, Coins.co.th allows its users to use many of the commonly-used mobile payment options to get their Thai baht onto the exchange. It should be remembered that, since this exchange is based in Thailand, you will only be able to trade Thai baht in exchange for cryptocurrencies, but the good news is this allows you to avoid having to convert into another fiat currency before finally being able to trade cryptocurrencies on the platform.
As an added bonus, Coins.co.th also allows their users to use Bitcoin to purchase mobile airtime minutes.
Bitcoin.co.th is another Thailand-based option for purchasing Bitcoin; however, it should be noted that this exchange tends to have higher fees than Coins.co.th. Additionally, the amount of fees that are tied to a trade on Bitcoin.co.th isn't entirely clear, as it's hidden in the price that is displayed on the screen when making a trade.
If you can't wait to make your first purchase, you can head to most ATMs to purchase Bitcoin via one of these two Thailand-based cryptocurrency exchanges.
5 Best Anonymous Bitcoin Wallets of 2021: Top Picks By CoinSutra.
Did you know that Bitcoin transactions are not anonymous and can be tracked with just a little effort?
Yes, tracked, if you don't take proper measures. Being private isn't possible with Bitcoin as it is a permission less protocol.
However, you can secure your privacy and become its anonymous user if you take care of certain things.
First of all, you must not let your Bitcoin address get exposed in public. For this, you should use a new Bitcoin address every time, post which you can use IP obfuscation methods. Or you can switch to anonymous Bitcoin wallets that do it for you at the backend.
Also, a genuine anonymous wallet will never ask for your personal information such as your name, Email address, phone number or postal address. A lot of new users are not aware of it, and end up using a wallet, that are not truely anonymous, and which is not idle for your privacy.
Wait, but are there any anonymous BTC wallets out there?
Wallet Name Type Ledger Nano X (Recommended) Hardware Ledger Nano S Hardware Samourai Wallet Mobile Bitcoin Paper Wallet Paper.
5 Best Anonymous Bitcoin Wallets.
1. Ledger Nano X:
Nothing beats the security and privacy of Ledger Nano X hardware wallet. In my testing, this turns out to be the best Bitcoin wallet that ensures maximum privacy. This hardware wallet is available to be purchased from Amazon or official ledger site.
Here are some of the features of Ledger Nano X wallet:
Hardware wallet Create unlimited Bitcoin account Supports multiple cryptocurrencies Doesnot need your email address, phone number Works on any device Easy to use due to Bluetooth connectivity Most secure anonymous wallet.
If you are looking for single untraceable wallet recommendation, than grab a Ledger Nano X. It takes a few days to get delivered to your doorstep, but once you have it, you never have to look for any other wallet.
2. Samourai Wallet (Mobile Wallet)
Samourai wallet is a modern ananoymous bitcoin wallet, hand forged to keep your transactions private, your identity masked, and your funds secure.
I got serious about this wallet when I read this statement from its development team:
"We are privacy activists who have dedicated our lives to creating the software that Silicon Valley will never build, the regulators will never allow, and the VC's will never invest in. We build the software that Bitcoin deserves."
...which shows that they know what they are doing and are serious about it.
Samourai wallet is encrypted on the device using AES-256 encryption and never communicates with any servers. Apart from that, you get robust features such as PIN code and seed word backup to store your funds safely.
More Privacy Centric USPs Of Samourai Wallet Are:
No address reuse: Therefore, Samourai will alert you if you have sent to an address before, helping prevent unintentional address reuse. Protection with STONEWALL : Samourai provides, by default, a transaction that increases the difficulty of linking inputs to outputs of a transaction, making clustering wallet addresses and associated metadata more difficult. Also, STONEWALL enables Samourai transactions to produce higher entropy than standard bitcoin transactions and often resemble CoinJoin transactions on the blockchain to make it more complicated to analyze. Tor and VPN Support : The wallet is Tor and VPN enabled, allowing you the ability to route all transactions through an anonymous IP address.
Lastly, the wallet also comes with segwit support which naturally helps in lowering your BTC transaction cost.
3. Ledger Nano S (Hardware Wallet)
Ledger Nano S is one generation older version of Ledger Nano X wallet. Ledger is a dynamic startup company, produce high-grade Bitcoin and cryptocurrency hardware wallets.
The unique thing about this wallet is it produces a range of hardware wallets, especially for privacy-centric users. It is called Ledger Nano S and a remarkably anonymous wallet.
With this privacy set, you get the absolute best-in-class privacy solution - an unbeatable Ledger Nano hardware Bitcoin wallet.
Some other features of Ledger Nano S are:
NIST certified True Random Number Generator to secure your signatures. HD wallet provides over 100 wallets, each of which can generate millions of unique addresses. Hidden Wallets: Hidden wallet data is indistinguishable from random bytes - only YOU can know they are there. 24-word mnemonic backups enable recovery of all funds if your Ledger Nano X is ever lost or stolen.
These features and privacy, however, come at a price which is clear from the fact that Ledger Nano cost $119.
Note: Use a No logs VPN Such as NordVPN to become more untracable.
4. Rahakott Wallet (Web Wallet)
Not available anymore..
Rahakott wallet is for those who want to protect their privacy and remain anonymous while transacting in several other currencies (including BTC).
Rahakott is a web multi-currency wallet that allows its users to make anonymous transactions. And in its short period of existence, it has processed 20 million dollars in BTC.
Moreover, you don't need your phone number or email ID to make a wallet on Rahakott, so there is no question of losing your personal data.
As of now it is available in 4 languages (English, Chinese, Japanese, n) and supports 6 cryptocurrencies (BTC, BCH, LTC, ETH, DASH, ZEC) including segwit support.
Apart from that, you have the option to select security features such as OTP, password, or 2-FA authentication for your Rahakott wallet.
More Privacy Centric USPs Of Rahakott Wallet Are:
Mixer: Built-in mixer for cryptocurrencies make it impossible to track transactions. HD Wallet: HD wallet ensures there is no reuse of the same addresses. Tor: Wallet can be accessed on the Tor network to enhance your IP privacy.
5. Electrum On Tails Operating System (Desktop Wallet)
Electrum is one of the oldest lightweight Bitcoin wallets operating in this space since 2011. It is also one of the most trusted Bitcoin wallets available in the market and is an open-source wallet under an MIT license.
It also supports integration with third-party hardware wallets such as Ledger, Trezor, and Keepkey but is not an anonymous wallet by default.
However, if you use Electrum wallet on Tails operating system which is very privacy-centric and is Tor enabled, it can be anonymous.
Here is a simple explanation of Tails: "Tails is a live system that aims to preserve your privacy and anonymity. It helps you to use the Internet anonymously and circumvent censorship almost anywhere you go and on any computer but leaving no trace unless you ask it to explicitly."
Apart from that, there is no other requirement for protecting your privacy as it is an HD wallet that provides you with seed and takes no personal information.
At present, it is available for Windows, Mac OSX, and Linux.
Conclusion: How To Setup An Anonymous Bitcoin Wallet.
Getting your required amount of privacy with Bitcoin transactions is quite possible. You only need to take care of a few things that I mentioned in the introduction.
But if you don't want to do that, you should use either of the wallets mentioned above. You can also set up your custom-made wallets or methods to get an anonymous Bitcoin wallet. This exclusive guide will help you: 6 Ways To Make Untraceable Transactions With Bitcoin.
That's all from my side in this article. I hope it helps you in choosing the right wallet.
Don't forget to share your choice with us in the comments below 🙂
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Suggested Further Readings On CoinSutra:
Harsh Agrawal is the Crypto exchanges and bots experts for CoinSutra. He founded CoinSutra in 2016, and one of the industry's most regarded professional blogger in fintech space.
An award-winning blogger with a track record of 10+ years. He has a background in both finance and technology and holds professional qualifications in Information technology.
An international speaker and author who loves blockchain and crypto world.
After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.
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[Bitcoin]

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[Bitcoin]

How to Anonymously Buy Bitcoin Online and in Person.
Buying bitcoin is a bit like buying contraception: it's a bASIC human right, you should be entitled to do so privately, and it's nobody's business what you plan to do with it. Whether you're buying bitcoin to set aside for a rainy day or to expend immediately in a fit of passion, you shouldn't have to broadcast your intentions to the world. Here's how to obtain bitcoin without forsaking your anonymity.
Mine, Earn, Exchange or Buy?
In 2020, you have four ways of acquiring bitcoin: mining, earning, exchanging, or buying. While anyone can mine bitcoin, only those with the dedicated racks of hardware can do so profitably. Thus, despite the lure of newly minted coins with no transactional history, mining is not a realistic way of obtaining bitcoin. Earning, typically through working for a crypto company, provides a more practical means of obtaining bitcoin , but isn't remotely anonymous since your employer will have all your pertinent details, and may be obliged to pass these on to government agencies. Exchanging - that is, swapping goods or services for bitcoin - is a more practical way to get your hands on cryptocurrency.
You could set up your own bitcoin-only store , allowing you to sell physical and digital goods in exchange for crypto. With no fiat payment rails connected, you can run the website and accrue bitcoin without disclosing your identity. Naturally, you'll need to have something that people desire sufficiently to part with their beloved bitcoin; think high quality merchandise, tasteful art, bespoke bitcoin jewelry, or genesis block-inspired posters. Of course you don't have to set up your own website to sell goods for bitcoin; there are already dozens of online stores where you can become a vendor with no questions asked. Welcome to the darknet.
Despite what mainstream media would have you believe, not everything for sale on darknet marketplaces (DNMs) is illegal. Thus, you don't need to break any laws in your quest to swap goods for bitcoin. In addition to legal paraphernalia of the sort found in head shops, DNM vendors sell medicinal items such as CBD oil. In truth, you can sell anything you can think of on the darknet; the only limits are your imagination and market demand. While selling on DNMs is one of the most anonymous ways to obtain bitcoin, it's not the quickest or most practical. If you're looking to acquire bitcoin in a hurry - be it to place a DNM order of your own or because the price of BTC is shooting up - you'll need to buy it directly. Thankfully, there are still ways to purchase bitcoin anonymously, or at least privately i.e. without needing to undergo KYC, with the complete loss of privacy and risk of identity theft this carries.
How to Buy Bitcoin Anonymously in Person.
There are two primary ways to buy bitcoin in person - that is, by leaving the house. One is to purchase bitcoin using a BATM - an automated machine that will let you swap fiat currency for cryptocurrency. Finding a bitcoin ATM near you is easy , and as a previous guide from news.Bitcoin.com explains , there are ways to purchase crypto from BATMs completely anonymously, if you don't mind bending a few rules. Even if you're a stickler for playing by the book, a BATM is typically more discreet than using a centralized exchange to acquire crypto.
The second option is to find a bitcoin seller willing to meet you in person for a cash deal. Filter search results on Localcryptos , Localbitcoins , or local.Bitcoin.com by area, and then message sellers to see if they're willing to meet. Regardless of what the platforms' terms of service say (LBC doesn't permit in-person meets any more), many sellers will be happy to arrange a cash deal. Naturally, you'll need to establish trust on both sides, and it makes sense to start with a relatively small purchase before building up to larger amounts as trust develops. Another way to sniff out local sellers is to attend bitcoin meet-ups in your area and crypto conferences. Also search on Linkedin for OTC sellers in your region. There'll be some chancers and time-wasters to sift through, but once you find a reputable seller, you'll have your own private supply of bitcoin on tap.
How to Buy Bitcoin Anonymously Online.
If you're looking to anonymously buy bitcoin without leaving the house, your best bet is to use a P2P exchange such as Localcryptos or local.Bitcoin.com . There's a range of payment options available, from bank transfer to gift cards and Paypal, and your details will only be disclosed to the seller. If you're keen to conceal your identity from the seller altogether, it's conceivable to send funds from an account you control that's not in your name; a Paypal business account for "Acme Trading" for instance, or a Venmo account that a kindly friend will allow you to use. For a rundown of the main P2P bitcoin exchanges, see this guide from news.Bitcoin.com.
Finally, there are rumors of individuals paying third parties - homeless; the unemployed; students - to complete KYC on their behalf, and then using their identities to obtain crypto debit cards . If such apocryphal tales are true, they would provide a means of purchasing cryptocurrency that cannot be traced back to its actual buyer. There are also rumors of readymade identities being bought on the darknet, and used in the same manner to anonymously buy bitcoin.
Bitcoin is protection - yes, contraception - against the unexpected. It is a safeguard against account seizure, a protection against black swan events, and a hedge during economic uncertainty. You owe it to your present self to acquire bitcoin and you owe it to your future self to do so as privately as possible. Your bitcoin is nobody else's business. Don't let anyone tell you otherwise.
What other private bitcoin buying methods can you think of? Let us know in the comments section below.
Images courtesy of Shutterstock.
Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool ? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what's happening in the industry.
Anonymous Bitcoin miners are taking over the network.
It seems Bitmain's influence is on the decline.
David Canellis.
The world's most popular cryptocurrency is a now a little bit more decentralized, thanks to the waning influence of Bitmain and the return of the anonymous Bitcoin BTC miner.
Blockchain research unit Diar has published new data revealing exactly who has been validating the Bitcoin network.
Analysts determined that mining pools either owned by or heavily tied to Bitmain (Antpool, BTC.com, and ViaBTC) are now validating far less Bitcoin blocks than this time last year.
In fact, it is "unknown" anonymous Bitcoin miners who are currently validating more blocks than any individual pool.
"[Unknown] miners closed December having solved a whopping 22 [percent] of the total blocks, up from 6 [percent] at the start of last year," reported Diar. "The Bitcoin network is currently less likely to experience an attack given the fact the BTC.com controlled pools have lost dominance over the network."
At pixel time, "unknown" miners accounted for more than 23 percent of the computing power driving the Bitcoin network (hash power).

[Bitcoin]

Does this actually make Bitcoin 'safer'?
Bitmain is the world's leading manufacturer of cryptocurrency mining equipment, and has historically been a powerhouse of the Bitcoin network.
Diar reports that in early 2018, Bitmain's mining pools accounted for 53 percent of Bitcoin's hash power. Theoretically, this would have allowed them to collude to take control of Bitcoin with a "51-percent attack."
Indeed, a reduction in their influence is surely a big relief for those wary of 51-percent attacks on Bitcoin, like the one suffered by Ethereum Classic that effectively led to $1.1 million being stolen from cryptocurrency exchanges.
For this to happen, major players such as Antpool and BTC.com would need to team up to control a majority of the network's hash power. This would allow them approve, censor, or even rollback transactions as they please.
Diar conceded that while the threat of that happening may now be much lower, miners have no obligation to share details related to the pools to which they may be contributing.
This means that some (or all) of the "unknown" miners could really be working with one of the larger mining pools.
... but the miners could be waiting for Bitcoin to bounce.
The analysts also noted that miners who have turned off their equipment are likely waiting for an uptrend in Bitcoin's price before they resume validating transactions.
Last month, when Bitcoin's price briefly jumped from $3,200 to over $4,000, the overall Bitcoin hash power increased for the first time since August.
This indicates a distinct correlation between Bitcoin's price and the number of miners who are prepared to participate in the network.
Diar did warn that January's growth in hash rate is unlikely to be sustainable, especially if the price returns to its now-typical bearish ways. This means if Bitcoin's price bounces, mining pools controlled by Bitmain could come back online.
At least for now, let's enjoy the new Bitcoin with more decentralization (and less Bitmain).

[Bitcoin]

Bitcoin Anonymity - Is Bitcoin Anonymous?
Bitcoin is often described as anonymous because it's possible to send and receive bitcoins without giving any personally identifying information.
Achieving reasonable anonymity with Bitcoin can be quite complicated and perfect anonymity may be impossible.
Bitcoin is designed to allow its users to send and receive payments with an acceptable level of privacy as well as any other form of money. However, Bitcoin is not anonymous and cannot offer the same level of privacy as cash.
Bitcoin is Pseudonymous.
Sending and receiving bitcoins is like writing under a pseudonym.
If an author's pseudonym is ever linked to their identity, everything they ever wrote under that pseudonym will now be linked to them.
In Bitcoin, your pseudonym is the address to which you receive Bitcoin. Every transaction involving that address is stored forever in the blockchain. If your address is ever linked to your identity, every transaction will be linked to you.
In the original whitepaper, it was recommended that Bitcoin users use a new address for each transaction to avoid the transactions being linked to a common owner.
As an additional firewall, a new (address) should be used for each transaction to keep them from being linked to a common owner. The risk is that if the owner of a (address) is revealed, linking could reveal other transactions that belonged to the same owner.
This would be the equivalent of writing many books under different pseudonyms. If one of your pseudonyms is linked to you, the others are still secret.
But is this method enough to ensure full anonymity?
Although this remains a best practice, it is not enough to guarantee full anonymity due to multi-input transactions.
Multi-Input Transactions.
A multi-input transaction occurs when you receive payments to your wallet to different addresses, but then you send a payment out of your wallet which pulls bitcoins from multiple addresses.
The outgoing transaction will include multiple addresses as inputs, proving that they are in the same wallet and belong to the same entity. If your identity is ever linked to any of these addresses, none of the addresses will maintain their anonymity.
In the transaction displayed below, some of the bitcoins came from address 12TBGSTqd1how9cpYKWTm4VUYw3QDDWMoB and some came from the address 19t1HyYqe254NxiTAGLrAR4gPJAZCkSXJY.
This means that those two addresses are in the same wallet and belong to the same user.
How to Increase Privacy When Sending Bitcoins.
Run Your Own Full Node.
For anyone to make a transaction on the Bitcoin blockchain, they need a wallet that is connected to a Bitcoin node. Bitcoin nodes validate transactions and the blocks that make up the blockchain. If you aren't running a full node, you are relying on someone else's node to transmit your transactions to the blockchain.
There are other implications as well. For example, let's say you use a ledger hardware wallet. If you use Ledger's out of the box wallet software, Ledger Live, then you rely on Ledger to transmit and receive transactions. Ledger claims they do not tie your name to the serial number of the device. And they also do not collect information about you when you set up Ledger Live. But, they could tie your IP address to your device and then your privacy is compromised.
You can avoid all of this by running your own full node. We will cover hiding your IP address in the sections below, and it is something you should do anyway. But the point is, you should be running your own full node for multiple reasons.
If you want to get one running, this is a great video to get you started:
Pros to running a full node.
Don't trust others to verify transactions better privacy.
Cons to running a full node?
Cost money to run Not easy to get it going to non-technical people.
Use a VPN.
If are aren't already using a VPN for your day to day internet usage, you should. When a VPN is working as intended (never use a free VPN), it hides your IP address and encrypts your traffic. That means your ISP and its partners cannot see what websites you are visiting. It also means the websites you visit don't know your IP address and your location.
This is where running a full node comes in. Whenever you connect to your Bitcoin client, you can do it through a VPN. This will prevent onlookers from tying you as the owner of your node.
Be aware: Not all VPNs are reliable. Free VPNs are very rarely worth using. They are usually very slow and not good at protecting your data. Some paid VPNs, such as Avast VPN, even sell your data to third parties, which totally defeats the purpose of a VPN. We suggest you do your own research to find a reliable one with a good history of protecting its customer. We love Express VPN.
Pros to using a VPN.
Encrypted connection to Bitcoin client IP address hidden from onlookers.
Cons to using a VPN.
Good VPNs cost money Can slow down your internet connection when turned on.
You can also use Tor which is a built in feature of the Bitcoin Core full node client. Tor routes your traffic through multiple user-run nodes to hide your identity, sort of like a peer to peer VPN.
Use the Lightning network.
Any transaction made on the Bitcoin blockchain is transparent to the public. That means that anyone who knows which address belongs to you can tie any transactions to you. This public transparency is one source of the lack of privacy in Bitcoin.
Enter the lightning network.
The lightning network is a second layer for Bitcoin. Like Bitcoin, there are nodes in the network. But unlike Bitcoin, not every node needs to keep track of every transaction. They only see the transactions that come through them. The only history maintained by a node is its history with the other nodes it transacts with. This makes trading bitcoin much like keeping an IOU between your friends and then settling up in cash at some point.
The only times the bitcoin blockchain is involved in this process is when you open or close a channel. "Opening a channel" is the same as agreeing to keeping a tab with your friends. When the tab is opened, that information is put into a transaction on the blockchain. This happens again when you settle up the tab.
What this all means is that all of the transactions that happen inbetween opening and closing the tab is not on the blockchain. Only you and your friend are aware of it.
Using the lightning network is a great way to increase the privacy of your Bitcoin transactions.
Be aware: the Lightning network is not totally stable, so it is possible to lose your coins. It's also more complicated to get a lightning node up and running than a bitcoin node as of this writing.
Here is a good video to get you started (keep in mind you need to run a bitcoin full node in order to run a lightning network node):
Is Bitcoin Anonymous?
Bitcoin is not entirely anonymous. In reality, it is pseudonymous because each user has a public address that theoretically could be traced back to an IP address or exchange account (and by proxy, an actual identity) through proper network analysis.
So instead, a better question is, to what extent is Bitcoin anonymous?
It is anonymous in the sense that the components of Bitcoin, such as addresses, private and public keys, and transactions, are all read in text strings, such as a public address, that in no way directly link to anyone's personal identity. (If an address is used on an exchange that implements KYC -- Know Your Customer -- then that address may be easily linked to a real-world identity.)
General understanding of blockchain technology by the public was not prevalent in Bitcoin's early days. It was commonly thought that Bitcoin was a safe haven for criminals and terrorists because it was untraceable and entirely anonymous. As blockchain technology became more understood by organizations and the public alike, it became more apparent that Bitcoin's massive public ledger was actually a gold mine of information for authorities instead; any bitcoin transactions that have ever taken place are forever inscribed in an immutable ledger.
Every bitcoin transaction is publicly broadcasted on the Bitcoin blockchain. Because all transactions are permanent and public, a massive map is being created as time goes on that allows simple analytical tools to paint a picture of where bitcoins are going. Bitcoin addresses are "anonymous," but if an address can somehow be linked to a real-world identity, Bitcoin offers no privacy. There are a number of ways to connect addresses to real-world identities, most notably via KYC/AML (Know Your Customer/Anti-Money Laundering) policies at exchanges and blockchain analysis (eg., address clustering).
There are a number of privacy-enhancing tools available for Bitcoin users as well, but most aren't perfect. Unless you really know what you're doing, it's best to assume you have little privacy.
What Are Bitcoin Mixers?
Bitcoin mixers are solutions (software or services) that let users mix their coins with other users, in order to preserve their privacy.
While Bitcoin addresses are "pseudonymous" -- meaning, they don't, in themselves, reveal the identity of their owner -- they can often still be linked to real-world identities. For example, if you withdraw bitcoin from an exchange where you've identified yourself, the exchange knows that the withdrawal address is yours. There are also more advanced techniques -- such as blockchain analysis -- to tie Bitcoin addresses to real-world identities.
The next time coins move from these addresses, users risk revealing all sorts of personal information. Depending on how they spend the coins, they could reveal how many coins they own (even on other addresses), what they spend their money on, and more.
By mixing their coins, users can obscure the ties between their Bitcoin addresses and real-world identities. This allows them to use Bitcoin more privately.

[Bitcoin]

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[Bitcoin]

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[Bitcoin]

How Do Bitcoin Mixers Work?
A number of mixing strategies have been proposed and developed over the years. These range from fully centralized solutions where all users trust a mixer, to solutions where users don't need to trust anyone, to solutions that resemble Lightning Network-style payment channels, to even using privacy coins like Monero as an intermediary step in the mixing process.
Instead of exploring all (potential) options, let's stick to two of the most popular solutions available today.
Centralized Mixers.
Centralized mixers are services that accept bitcoin payments and send different coins in return. If many people use a particular mixing service, it becomes increasingly difficult for an outsider to tie any of the "incoming" coins to any of the "outgoing" coins. This breaks the transaction trail, offering privacy to the users.
Centralized mixers leave two big problems unsolved, however. One, users need to trust their privacy with the mixer. Since the mixer knows exactly which user sent and received which coins, the mixer could re-establish the trail of ownership. If the mixer is willing to share this data with interested parties (perhaps because they have to by law or in return for payment), the user would lose his privacy after all. And two -- perhaps even worse -- the mixer could refuse to make the return payment, bASICally stealing the user's coins.
Chaumian CoinJoin Mixers.
More modern mixers have solved both of these problems. Chaumian CoinJoin mixers, for example, let a large group of users cooperate in making one large payment to themselves. BASICally, if a hundred users all send exactly 0.1 BTC to a new address they control, and then merge these 100 transactions into one big transaction, everyone gets 0.1 bitcoin back, but no one can see where they got it from.
On top of that, Chaumian CoinJoin mixers can be designed in such a way that not even the entity that "merges" the transaction can figure out which coins went where. Nor could it steal any coins: Users wouldn't sign the merged transaction if they didn't get their 0.1 BTC back.
What Are Some Popular Mixers?
An example of a popular centralized mixer is smartmix.io . However, Bitcoin Magazine does not endorse, let alone recommend using any centralized mixers, including smartmix.io, because of the unsolved problems mentioned above.
Wasabi Wallet is a popular bitcoin wallet that has a Chaumian CoinJoin mixer built in. And while Wasabi Wallet's infrastructure is technically centralized, it is cleverly designed so the operator cannot deanonymize users nor steal any funds. It also offers a user-friendly interface to help users distinguish between mixed coins and non-mixed coins.
Similar to Wasabi Wallet, the Samourai wallet also offers a Chaumian CoinJoin mixing service, called Whirlpool. While Wasabi Wallet is currently only available on desktop, Samourai is also available on mobile. However, to really use Samourai Wallet in a privacy-friendly manner (where users' privacy is protected even from the Samourai Wallet team), users do need to connect their wallet to their own full Bitcoin node.
An alternative option to mixing coins is using JoinMarket . JoinMarket allows users to merge transactions into bigger transactions through (regular) CoinJoin, which also helps obfuscate their trail of coins and protects their privacy. An interesting benefit of JoinMarket is that participants in such merges are financially incentivized to offer their coins to be mixed: Users that want to mix their coins would pay a small amount of fee to be able to do so.
Why Would You Mix Your Coins?
You would mix your coins to protect your privacy, and there are many reasons to protect your privacy. In short, you might not necessarily want the world to know where you spend your money, what you earn or how much bitcoin you own.
Take the more concrete example of someone who just got a raise. They may not want their landlord to find out, as this landlord might see it as a good opportunity to increase the rent. A closeted-homosexual may want to pay for gay pornnography without anyone knowing, especially in a regime where being gay is treated like a crime. A dissident pseudonymous journalist may want to get paid for his articles without the regime in his country finding out who he is. A teenage girl from a conservative family might want to purchase contraception without her parents finding out. A Democrat in a Republican town may want to donate money to his favored politician without drawing the ire of his neighbours. A wealthy bitcoiner may not want to reveal his holdings as it would make him a target for kidnapping, extortion or worse. And so on.
Really, there are quite literally countless reasons why people may want privacy. In fact, even if you do not care about your own privacy at all, you may want to altruistically mix your coins to increase the anonymity set of people who do.
Is Coin Mixing Just for Criminals?
As pointed out above, no, coin mixing and other forms of privacy are not just for criminals. In fact, privacy is a human right established in the Universal Declaration of Human Rights (article 12).
Of course, criminals do benefit from all sorts of privacy as well, including privacy gained from mixing their coins. Criminals enjoy many of the freedoms that the rest of us do; that's the price we pay to live in a free society. (And even in regimes without many such freedoms, criminals tend to continue to operate ... and "criminals" may, in these places, be people that speak the truth or hold a certain belief.)
Indeed, the perception that mixers are mainly used by criminals appears to be false. According to research by blockchain analytics firm Chainalysis, for example, mixers are mostly used by regular Bitcoin users that simply want privacy. Coins that have been used for illicit purposes represent a minority of all mixed coins.
Can Bitcoin Mixers Be Banned?
Whether or not bitcoin mixers can be banned is really a legal question -- not a technical question. It will, therefore, differ from jurisdiction to jurisdiction. There are examples of mixers that have been banned, as authorities claimed that the service was being used to launder money.
The most popular mixing services are currently centralized (either trusted or untrusted), which does mean they could be shut down relatively easily by authorities. So far, however, many mixing services continue to operate unencumbered.
If centralized mixing services do face bans and shutdowns, decentralized mixing services might take their place. These would be harder to take down.
Do Mixed Coins Run the Risk of Being Labelled as 'Tainted'?
Depending on how coins are mixed, it can be possible to recognize mixed coins as "tainted." Mixers like the one used by Wasabi Wallet leave a clear trail of mixing. So while the premix history of the coins would be obscured, the mixing itself would not be.
At the time of writing this article, no mixed coins have been labeled as tainted and refused by bitcoin exchanges or merchants, however.
What Is Blockchain Analysis?
The Bitcoin blockchain is an open and transparent ledger. This means that every payment is publicly visible to anyone. As such, it's easy to see how coins move from address to address. (This is not completely, technically the best way to phrase it, but it's close enough for the purposes of this introductory guide.)
On top of having an open and transparent ledger, the way Bitcoin transactions are constructed often reveals information about users. Most notably, a transaction that has several "inputs" (chunks of coin) suggests that all of these inputs belong to the same user. This allows for address clustering, but there are many other such privacy leaks. (See the Bitcoin Privacy wiki for more examples.)
As the name suggests, blockchain analysis is the act of using such privacy leaks to analyze the blockchain.