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5 Bitcoin Coin Mixer Facts to Remember in 2018

Bitcoin lacks native privacy and anonymity. Its transactions are public for everyone to see and are broadcasted in real time. To counter this problem, people often rely on mixing services to obtain at least a degree of privacy. There are a few aspects of coin mixers often overlooked by the average Bitcoin user.

5. Not Just a Tool for Criminals

Most people associate coin mixers with criminals laundering Bitcoin proceeds. While that is a valid use case, there are many other reasons for using such tools and services. A lot of users and traders simply like to remain anonymous, and using a mixing service can help achieve that goal.

Such a desire mainly stems from a fear of public identification. More specifically, users are worried their Bitcoin holdings will be traced back to them, which might attract all kinds of attention. While these users are far less common than people laundering criminal proceeds through coin mixers, it shows the model can be used for perfectly legitimate uses as well.

4. Companies Use Coin Mixers

Coin mixers are quite appealing to many companies. While some firms have embraced Bitcoin payroll options, keeping specific information about recipients private is always preferable. Additionally, using a mixer will help companies “mask” the amounts they are paying their employees. Whether or not that requires the use of a mixer is a different matter altogether.

3. Trust Is Critical

One of the important points people often overlook is that one needs to trust a coin mixer to send their money to a specified address. Although this may not seem like an issue, “removing taint” from large sums of Bitcoin is rather problematic when using a mixer. After all, a site owner could always decide not to forward the coins to a given address. Significant trust is required, and trust is not easy to give or earn over the internet.

2. It’s Not Free

Unlike traditional Bitcoin transactions, using a Bitcoin mixer is relatively expensive. On top of paying transaction fees, service providers usually charge anywhere from 1-3% in fees based on the amount being mixed. If one tries to mix 100 Bitcoin in one go, he or she will lose up to 3 BTC in the process. It is a very steep price to pay, although for those who genuinely want privacy or anonymity, it can still be worth it.

1. Government Intervention

Although one could use coin mixers to avoid government intervention, these services also tend to have the opposite effect. They make it easier for criminals to launder proceeds in an anonymous manner, which makes government officials even more intent on shutting down these types of services. Cracking down on coin mixers is difficult since most of them reside on the deep web.

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NEO Price Notes Strong Momentum to Strengthen Support at $17

In the world of altcoin trading, there isn’t too much to get excited about these days. After all, most of the top 20 currencies are in the red right now with little improvement in sight. NEO is still trying to note some sort of uptrend, although sustaining a value of over $17 will be quite challenging. NEO Price Surpasses $17 It is always interesting to see how things evolve in the world of altcoins. A lot of people flock to Bitcoin first and foremost, yet the world’s leading cryptocurrency has been a bit of a letdown throughout 2018. Some altcoins try to benefit from this stagnating price momentum, and NEO is seemingly reaping the rewards at this time. Over the past 24 hours, the NEO price has surpassed $17 again. It is not the first time this happens this year, although any uptrend to remain above that value has been pushed down fairly quickly. It remains to be seen if this latest push will yield any results, although the current trend looks promising. A 3.5% increase in USD value and a 4% gain over Bitcoin are quite telling. Looking at the social media activity pertaining to NEO, it is evident some interesting things are happening. A NEO technical article competition is being organized as of right now. This venture runs between now and December 19th. The best articles will receive a financial compensation to be paid in NEO, which makes for an interesting opportunity. More technical articles will help raise awareness about NEO in the long run, which can only be considered to be a good thing. Call for #NEO Technical Articles!!!We are running a competition to encourage participants to share their experiences and knowledge focusing on the technical aspects of #NEO #Blockchain. Submission is open until Dec.17! Find more detail here: https://t.co/CLiBcPX1Qn pic.twitter.com/abv4XzMN4i — NEO Smart Economy (@NEO_Blockchain) October 18, 2018 Interestingly enough, not everyone thinks the NEO price will continue to move up. DaVinci, for example, sees an ascending triangle forming for NEO, which could effectively cause the market to see a pretty steep correction later this week. For the time being, the support seems to hold its own quite well, although a dip below $17 can be quite problematic. Ascending triangle on #neo Havent opened any trade though.. waiting for grey line to break, so bears can take over.. pic.twitter.com/kyvCHg35fl — DaVinci (@crypto_DaVinci) October 18, 2018 One interesting announcement has been made regarding an upcoming NEO fork. Known as Neo Super Fork, a clone of NEO will be created, and an airdrop will occur for all existing token holders. Users will receive the newly created NEOX token for every NEO they hold in their wallet at the same of the snapshot. That fork will occur on November 10th, which gives NEO owners something to look forward to. $neo fork le 10 novembre. Projet non affilié à #neo. Distribution à 2:1. Voyons voir comment les choses evoluent ! pic.twitter.com/EA1YuIhjep — CryptoFrenchy (@FrenchyCrypto) October 18, 2018 Based on the current circumstances, it will be interesting to see how the NEO price evolves in the near future. There is a pretty strong uptrend brewing, although key support levels can still be broken with some ease. Its overall trading volume of $206m shows there is sufficient interest in this altcoin right now, albeit things can always turn around when people least expect it. The post NEO Price Notes Strong Momentum to Strengthen Support at $17 appeared first on NullTX.

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