Why you need Bitcoin mixing in a world where regulators around the world are trying to impose heavy rules on the transparency of Bitcoin.
Bitcoin is used only by criminals. That is probably one of the biggest misconceptions that has been connected to Bitcoin, especially in its early days. While no one denies that there is some small percentage of the Bitcoin transactions that are illegal, the number is negligible, especially compared to cash. Yet, regulators and lawmakers all around the world are trying to impose rather heavy rules and bills on the transparency of Bitcoin.
While their effort might look positive at first, their actions can be viewed as an attack on financial privacy. Especially if CBDCs come to life, which they unfortunately will, people should be ready to take action and have their tools of financial privacy ready.
One of those tools are Bitcoin mixers, which make Bitcoin transactions more anonymous. They obscure the connection between the sender and receiver, making them ideal for transactions that require better level of privacy.
Yet, many people still argue that unless the users are not doing anything illegal, they should not be scared to show their financial actions. However, whether this is true or not is purely subjective. Financial privacy should be a basic human right for everyone.
Unfortunately, this is not where we are heading as CBDCs will be a dystopian tracking tool that will allow governments to see, block or influence all the transactions that will happen over their centralized network. However, the list of reasons why everyone should be using Bitcoin mixing tools is much longer. Here are just four examples of why everyone should consider using Bitcoin mixing tools:
This year showed us on many occasions, why financial privacy is needed. Probably one of the best examples of this happened in Canada with the Canadian truckers’ protests. What was at first a peaceful protest of hundreds of thousands of people in main cities of Canada, turned out to have much larger consequences for protesters and the supporters than anyone would have imagined at the beginning.
Many supporters of the protests who donated money to the Freedom Convoy, the unofficial name of the protest, had their bank accounts frozen. The governments also froze bank accounts and accounts on platforms such as GoFundMe that were in any way connected to the truckers. They also tried to seize the cryptocurrencies, especially bitcoins, that were donated to the protests.
Luckily, most of them reached the truckers and protesters on the streets, mainly thanks to the decentralized nature of the whole protocol. However, the people who donated bitcoins could not have had their accounts frozen if they used Bitcoin mixing tools as there would be no direct link between the funds donated to the protests and their wallets. One of the clearest and simplest reasons why Bitcoin mixing tools should not be overlooked.
The logic applied to Canadian truckers’ protests can be extended to totalitarian regimes. Western countries and society often forget how many people are still under oppressive governments, totalitarian regimes and dictatorships. Often times it can be incredibly difficult to get an ID, let alone a bank account.
In these regimes there is essentially no freedom to transact, as everything is traced by the governments with the exception of cash. However, in most of these regimes the cash becomes worthless rather quickly due to high inflation. Thus, in this case, Bitcoin can not only provide solution in the form of savings tool that is not subject to extreme inflationary pressures, but it can also help stop the surveillance of individuals and their transactions. This all could simply lead to simpler life, especially if Bitcoin mixing is used since it would provide a cash-like anonymity in the digital world.
While the reasons mentioned above may be a bit more profound, the fact is that Bitcoin mixing services can effectively help with financial freedom and privacy. Anyone who wants to make a private transaction should be allowed to do so. Whatever the reasons are.
In some countries for instance, buying alcohol, meat, sex toys or many other products and services can be frowned upon. Or in many cases these could be illegal in those jurisdictions, yet completely legal in most other countries or places of the globe. But if the transactions can be traced back to the buyers, they might cause them real troubles.
No matter whether the user is buying sex toy, chicken, laptop or motorbike, if they want their transactions to be private, they should have the right to do so. Bitcoin mixing services help especially with using Bitcoin privately. Moreover, they are accessible to anyone all around the world.
The traceability of the Bitcoin network means that if the users are not careful, their IDs and documents can be easily connected with their transactions. This means that their transactions would not be anonymous. This could cause problems especially if the users are trading, investing or saving more significant amounts of money.
There have been several cases of cryptocurrency millionaires, or cillionaires as they are known, who have been kidnapped, tortured or even murdered just to give up their Bitcoin stash. In this case, the increased privacy that Bitcoin mixers offer can lead to improved safety of the owners.
Bitcoin mixing is one of the tools that can help solve several problems all at once. Thanks to the improved privacy in the financial world, which should be a basic human right, users all around the globe can become more empowered, self-sovereign and free from surveillance.
Whir is one of the best Bitcoin mixing services around. With competitive fees, no KYC or registration and easy use, it is one of the Bitcoin mixing tools that everyone should know about. If you wish to try it, feel free to follow this link.
Disclaimer: This article does not serve as a piece of financial advice or encouragement and inducement for the usage of Bitcoin and other cryptocurrencies. Its primary role is informative, explanatory, and educational. The readers have to decide themselves whether to use or not to use these types of services.
Financial privacy is under increasing threat from stringent KYC and AML regulations. While these measures are intended to curb illicit activity, they also expose ordinary users to extensive surveillance and data collection, undermining their personal autonomy and security. As a result of these regulations, crypto mixers and privacy-focused wallets are being targeted, but what are the real consequences of losing financial privacy?
With the recent pressure to eliminate blockchain privacy tools such as privacy wallets and crypto mixers, Whir is at a crossroads. Increased regulatory scrutiny, especially from regions with strict overregulation such as the United States (US) and the European Union (EU), has created significant challenges for crypto mixers. As a result, we have to make a difficult request to our valued users from these regions: we kindly ask you to refrain from using our CoinJoin service.
In recent years, the cryptocurrency world has seen a growing tension between regulators and privacy-focused services. Recent crackdowns on prominent players such as Tornado Cash and Samourai Wallet are sending shockwaves through the crypto industry and raising fears of over-regulation. The costs of oversight and control are high and, as usual, are passed on to ordinary users, who end up losing the ability to conduct crypto transactions privately.
