Mixing Services Compound Bitcoin’s PR Problem


Many people are drawn to Bitcoin and virtual currencies for the illusion of being able to move funds around in an anonymous way. However, with the blockchain acting as a transparent ledger, there is no such thing as anonymity in the Bitcoin space. Unless Bitcoin users actively use mixing and anonymizing services, that is. But do these services harm Bitcoin’s public image, or are they beneficial to the ecosystem?

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Also read: SABR.io Identifies Illegal Activity on Blockchains, Willing to Work With Law Enforcement

Bitcoin Mixers and Anonymizing Services: Even More PR ProblemsBitcoinist_Bitcoin MixingBitcoinist_Bitcoin Mixing

The transparency associated with Bitcoin and other virtual currencies is something companies are more than happy to embrace. Accounting becomes a lot easier, and there is no way to hide any illegal activity on the blockchain. Plus, there is still a certain level of pseudonymity, as all Bitcoin users are identified through a wallet address, without publicly exposing any personal information.

Despite all of these positive features, Bitcoin still

Read more ... source: Bitcoinist