Bitcoin has been around for about 6 years now and one of the main reasons for it to become popular is its use in illegal transactions. In its early days, bitcoin was adopted as a safe and anonymous payment method for buying, selling drugs and other contraband. Platforms like Agora and the now defunct Silk Road have been running exclusively on bitcoin.
As time progresses, these older bitcoins have seen a lot of transactions, many of them illegal. We know that the complete transaction history of each bitcoin can be accessed from the Blockchain. There are many tainted bitcoins out there which were part of illegal deals and some people may prefer not to use due to possible legal repercussions. This makes freshly minted bitcoins more attractive as they wouldn’t have a long transaction history.
Freshly minted bitcoins are usually awarded to miners and until now there was no single place available where one could exchange old bitcoin for newly minted ones. BlockTrail, the Amsterdam based Bitcoin API provider has announced the launch of its new bitcoin “exchange” Mint. Mint is one of the kind exchanges where one can exchange or swap their old bitcoins for freshly minted ones.
Mint intends to encash