Pseudo crypto : Bitcoin is not anonymous

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Bitcoin is not anonymous, it’s pseudo crypto.

Are domain investors jumping ship to Bitcoin instead of pouring money into domains?

Highly unlikely, as the BTC cryptocurrency is very volatile and offers no protection or long term investment returns, unlike domain names.

Any drop in online auction house participation volume is solely the result of current market conditions, and should resume by the end of the summer.

That being said, mass registrations of “bitcoin domains” are on the rise. Smart move, or a waste of money? Time will tell.

In a shocking revelation to many, Bitcoin has been described as a “pseudo crypto” digital currency – in other words, it’s not really anonymous.

Popular Bitcoin mixer service, BitMixer, has closed down its services, exactly due to the pseudonymous nature of BTC mixing:

Despite the huge profit we earn, we are closing our activity. Let me explain why.

I’m bitcoin enthusiast since 2011. When we started this service I was convinced that any Bitcoin user has a natural right to privacy. I was totally wrong. Now I grasped that Bitcoin is transparent non-anonymous system by design. Blockchain is a great open book. I believe that Bitcoin will have a great future without dark market transactions. You may use Dash or Zerocoin if you want to buy some weed. Not Bitcoin.

I hope our decision will help to make Bitcoin ecosystem more clean and transparent. I hope our competitors will hear our message and will close their services too. Very soon this kind of activity will be considered as illegal in most of countries.

Cheers,
Bitmixer.IO

In other words: if you’re looking for an anonymous cryptocurrency, it’s not Bitcoin.

Meanwhile, the closing down of BTC-E due to $4 billion dollars’ worth of money laundering, has sent its former users on a petition at Change.org, asking the US Federal government to give them access to their crypto wallets.

Good luck with that.


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Comments

2 Responses to “Pseudo crypto : Bitcoin is not anonymous”
  1. Martin says:

    If you could not cash for 10 years, would you want to have 10M in domains (say 20 LL .com names) or 3,400 bitcoins?

  2. DomainGang says:

    Martin – Completely speculative question. I’d rather have $10M now.

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