Is it possible to be completely anonymous with bitcoin?
275 sats \ 9 comments \ @03431ca723 11 Nov bitcoin_beginners
Hey everyone,
As is evident by the territory I'm posting in, I'm very new to bitcoin (and stacker.news).
Is it possible to be completely anonymous with bitcoin?
E.g, I have $150 in BTC on a KYC'ed exchange. Would it be possible for me to then "clean" those BTC using Monero, or would I have to do to something else to make them completely clean. Also, on the topic of Monero, is it possible to buy them without KYC exchanges?
I've used RS for BTC and found it to be great, and saw some people were accepting Monero on there, so just curious as to how to get some.
So, would it be possible for me to "clean" those BTC, or would I have to convert them to Fiat, and then create a new wallet, get Sats somehow without linking myself to the way I got Sats, and then go on RS and buy BTC again.
Sorry if the questions are unclear, just very new & trying to learn more.
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43 sats \ 1 reply \ @DarthCoin 11 Nov
Would it be possible for me to then "clean" those BTC using Monero
Also, on the topic of Monero, is it possible to buy them without KYC exchanges?
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0 sats \ 0 replies \ @03431ca723 OP 11 Nov
Sure
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0 sats \ 0 replies \ @Satoshi__Nakamoto 12 Nov
Actually bitcoin can be track it's hard to track though
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0 sats \ 0 replies \ @anon 12 Nov
the real answer is you will never get privacy from your KYC stack unless you sell it back on a kyc'd exchange and rebuy non-kyc.
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0 sats \ 0 replies \ @OT 12 Nov
You should start with buying noKYC bitcoin. There's no way to "clean" KYC'D Bitcoin.
You can do things to improve your privacy on the base layer like coin joins, state chains, silent payments and pay join. Then there is liquid which can hide the amount transfered. There is the lightning network which doesn't leave a record on chain. And more recently there are ecash mints which give you an anonymity set of the users in that particular mint.
Keep learning and all the best!
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0 sats \ 1 reply \ @jasonb 12 Nov
Welcome to sn. I’m a small fry here but love this place. In general, you’ll learn Bitcoin WAY faster here than other online options.
Ironically, I’m going to recommend a YouTube video for this though.
Wasabi Wallet uses a type of Bitcoin transaction referred to as a coinjoin. The reason you’re going to get raked over the coals here about using Monero, is that it really doesn’t have most of the real properties of money and is dangerous to hold as far as actually protecting your purchasing power. Most alt coins are scams and you’ll get blasted on sn for using them (the reaction to your post from @DarthCoin is a relatively mild one). Therefore, I’d recommend researching coinjoin (using wasabi) so you don’t have to worry about getting rugged.
It’s a far from perfection option, so do your own research. There are other ways to achieve more privacy only using Bitcoin. However, you’ll save yourself so much heartache, the quicker you can divorce crypto (as in the alt coin industry) and Bitcoin in your head.
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50 sats \ 0 replies \ @03431ca723 OP 12 Nov
Thanks! I'll look into it.
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0 sats \ 0 replies \ @Msd0457890 11 Nov
Hello friend @03431ca723 welcome to the Bitcoin burrow, I am also new to Bitcoin and I have bought fractions of Bitcoin through the telegram bot, so it is completely anonymous and safe.
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0 sats \ 0 replies \ @Rothbardian_fanatic 11 Nov
I doubt there will ever be privacy with BTC. They can find out who is using it now by back tracking all of the records for that bitcoin to the originator. The exchanges have this small KYC catch going on them. Get rid of the KYC and it may be anonymous. Doing things privately may be the only recourse. But then, you have to find someone willing to exchange fiat for BTC under the table.
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