[ridgered4]

Maybe I'm missing something but since bitcoin is a public ledger and exchanges all have KYC features it seems worse than buying visa gift cards with cash from a privacy perspective. I don't know that much about the crypto space honestly, but it didn't seem to make sense to me it was the go-to currency for criminal transactions.

[HDThoreaun]

You can use mixers and the like to obfuscate the address that hits the exchanges from the address that is used for crime. When properly executed the strategy is foolproof unless the mixer you use is a honeypot. The issue is that there's a goodchance all the mixers are honeypots and properly executing the strategy requires an amount of vigilance that is beyond most organized crime groups.

[JumpCrisscross]

> can use mixers

This is automatic acceleration of probable cause. If you’re a state-level actor, mixers are fine. (You have a state behind you.) If you’re just having fun, go for it—it’s neat conceptually. For anyone less, take a lesson from the cartels.

[clint]

The minute your address interacts as a counterparty to a known mixer you're automatically flagged and everything around your risk profile accelerates dramatically. That wallet is effectively burned and you'll be locked out of using any kind of reputable exchange.

[lithos]

Mixers are going to be fun for the IRS.

All that money sloshing around and untaxed.

[bombcar]

Bitcoin's advantage is worked online for people who are banned from normal online payment mechanisms.

There are other privacy oriented coins that may do better than bitcoin for avoiding tracing (monero?) but the main reason criminals used it is it worked and nobody really cared about drugs, etc.

[alfalfasprout]

Nowadays monero (XMR) is the go-to since addresses aren't reused and transactions are encrypted.