It seems to me that the underground markets such as SilkRoad on TOR (The Onion Router) have been using BitCoin without really understanding the underlying technology. If I were to buy some illegal material from one of the Darknet's illegal marketplaces, I may think that Bitcoin is secure as its called a "crypto-currency." However, nothing could be further from the truth, at least for the most part. Every transaction of Bitcoin is put on a ledger, called the Blockchain. For *every* single transaction using Bitcoin the record of the trade is written in the Blockchain, and that chain has no end. Transactions will forever be written in stone as it were. So buying from an illegal marketplace using Bitcoin will work in getting you your drugs right away, however someone with enough research can find out who you are.

There are several other crypto-currencies that can be used in place of Bitcoin, but their adoption for use has been slow. My personal favorite is Monero, which can be examined in Sp00knet's Monero message area.

Cheers!
-warmfuzzy

--- Mystic BBS v1.12 A48 2022/07/15 (Linux/64)
* Origin: thE qUAntUm wOrmhOlE, rAmsgAtE, Uk. bbs.erb.pw (700:100/37)

underlying technology. If I were to buy some illegal material from one
of the Darknet's illegal marketplaces, I may think that Bitcoin is
secure as its called a "crypto-currency." However, nothing could be further from the truth, at least for the most part. Every transaction
of Bitcoin is put on a ledger, called the Blockchain. For *every*
single transaction using Bitcoin the record of the trade is written in
the Blockchain, and that chain has no end. Transactions will forever be written in stone as it were. So buying from an illegal marketplace
using Bitcoin will work in getting you your drugs right away, however someone with enough research can find out who you are.

I don't see how any crypto would ever be truly anonymous as long as on and off ramps and traceable devices exist. Good thing I'm not into " hiring hitmen" outside of BBS OLG's ;)

For me, the introduction of a CBDC into the global, or even national "FedNow!" instant payments, conversation turned me off to all Crypto for ^^.

|15-|12t|04G
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... THE fIRST sTEP iS tO tAKE oFF tHE cAPS lOCK

--- Mystic BBS v1.12 A49 2023/03/14 (Linux/64)
* Origin: The Underground (700:100/55)

It seems to me that the underground markets such as SilkRoad on TOR (The Onion Router) have been using BitCoin without really understanding the underlying technology. If I were to buy some illegal material from one
of the Darknet's illegal marketplaces, I may think that Bitcoin is
secure as its called a "crypto-currency." However, nothing could be further from the truth, at least for the most part. Every transaction
of Bitcoin is put on a ledger, called the Blockchain. For *every*

The issue is how people acquire Bitcoin. Some years ago (2016, I think), I wanted to know:

* Can I register a domain, paying with BTC
* Can I set up virtual hosting, paying with BTC
* Can I do this completely anonymously/pseudonymously

At the time, Bitcoin was the most obvious way to pay for this. I was able to buy Bitcoin anonymously with cash. CVS pharmacies had a service where you could pay the cashier cash, and they could somehow wire the equivalent to a service which then worked as a sort of exchange, where it then sent Bitcoin to my wallet. At no point was any kind of identification provided.

From here, I could connect to the exchange via tor.

At that point I was able to find a dodgy domain registrar and host in the Cayman Islands which didn't verify registration information and accepted Bitcoin as payment.

In other words, it worked.

The blockchain isn't a weakness; it is to Bitcoin what wetness is to water. The issue is that you can use the blockchain to trace things back to an exchange, at which point you can then subpoena the exchange for who bought the Bitcoin, or at least, what bank funded the exchange account.

The difficulty at present is finding ways to buy Bitcoin with cash. The weak link is funding the exchange accounts using identifiable bank accounts.

There used to be a service - don't know if it exists anymore - which allowed you to find people selling Bitcoin in your geographic area. You'd arrange to meet somewhere, like a Starbucks, and you'd pass the cash over and they'd send Bitcoin to your wallet.

I suppose in this case, as with Bitcoin ATMs, the issue are cameras and whether or not someone can use security footage to somehow tie a Bitcoin purchase to you.

Still, provided you're generating a new wallet address each time you buy Bitcoin in cash, this is probably fairly safe.

Darknet markets have the "last few miles" problem: the post office, or the shipping company. Either they detect what's in the package, alert police, and the package is watched, or they simply show up at the recipient address and arrest the receiver when they take possession.

The issue is not Bitcoin, but a misunderstanding of how and why Bitcoin can offer a kind of anonymity. I think a lot of people who use darknet markets don't have a comprehensive understanding of the risks.

That said, I wouldn't use one.

--- Mystic BBS v1.12 A47 2021/12/24 (Linux/64)
* Origin: Shipwrecks & Shibboleths [San Francisco, CA - USA] (700:100/72)