Mixers have been an important part of the cryptocurrency ecosystem to improve user privacy and erase ties to criminals who have held those BTC before. As the need for privacy continues to be a hot topic of debate, every crypto enthusiast should be well versed with mixers.
Pushing for Privacy
For many cryptocurrency users, privacy is a must have and is not so easily achieved anymore. Exchanges such Coinbase implement pseudo-Draconian policies including reporting the activity of a user to regulators if the coins they sent to the exchange have ever been associated with criminal activity.
Cryptocurrency is driving a stateless economy that transcends borders and governments. The creation of this system can be attributed to Satoshi Nakamoto’s desire to create sound money that is unaffected by monetary policy and the stability of the traditional economy.
However, this is a utopian scenario that involves a great deal of awareness propagation to come close to being realistic. Until then, Bitcoin and decentralized currencies are simply a hedge to the over-levered economies of today.
To facilitate the growth for a privacy-enhanced system, the people have to take back control of their data and establish their own privacy – mixers help do this for economic and financial data.
Bitcoin Mixers and Their Effect on the Ecosystem
Avoiding misuse of personal data is one thing and having a company report the transaction history of your address, and all corresponding addresses that have sent money to it, is a gross violation of personal liberty.
While it’s easy to sympathize with regulators for doing this considering the number of crypto scams that take place; Bitcoin is transparent money that can be used by anyone for any purpose.
If someone bought drugs on the deep web with BTC,