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Is it possible to move my XRP so it becomes untraceable or detached from my identity?


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I currently have my XRP stored on my Ledger Nano S, moved from exchange account with KYC and AML. Is there a way I could anonmyize it or detach it from my identity. E.g. Can I buy Monero with it (on Binance maybe?), then with the Monero buy XRP on to a new Ledger Nano S.

Or something along these lines?

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Hiding money from the spouse is one thing, hiding it from a government is a completely different sort of thing.

There are only degrees to how one measures anonymity from extremely low to extremely high. If one has the resources available and the framework within the law to connect someone to money it is possible to do so eventually. It all depends on what the laws of your country and the laws of the country where the exchanges and servers/VPNs you use say.

For how long does the ISP store identity to IP, the seriousness of the "crime" and does law enforcement have to go through the courts to get that information, any delays that makes the case get thrown out? Do the steps of anonymizing it make the case worse? Lawyer stuff.

You could possibly use Monero, and Onion routing to "blend" the transactions, but every step demands millions of packets sent both ways that makes a pattern. Even this forum post could be part of that pattern. The holy grail of every computer forensic expert is to make software that can demask these patterns.

So, I would guess it all depends on why you need to anonymize it. 

 

 

Edited by mandelbaum
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2 hours ago, mandelbaum said:

Hiding money from the spouse is one thing, hiding it from a government is a completely different sort of thing.

There are only degrees to how one measures anonymity from extremely low to extremely high. If one has the resources available and the framework within the law to connect someone to money it is possible to do so eventually. It all depends on what the laws of your country and the laws of the country where the exchanges and servers/VPNs you use say.

For how long does the ISP store identity to IP, the seriousness of the "crime" and does law enforcement have to go through the courts to get that information, any delays that makes the case get thrown out? Do the steps of anonymizing it make the case worse? Lawyer stuff.

You could possibly use Monero, and Onion routing to "blend" the transactions, but every step demands millions of packets sent both ways that makes a pattern. Even this forum post could be part of that pattern. The holy grail of every computer forensic expert is to make software that can demask these patterns.

So, I would guess it all depends on why you need to anonymize it. 

This response sounds to come from an experienced person - well thought out 

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Sure. You lost it, but you trade it with someone else's ledger for the same amount that resides in another country. You save up enough money to buy a citizenship in another nation. Change your name. Then with a new name and new citizenship you extract the crypto you got from person z that you traded with. Just make sure to transfer persons z's crypto to a new ledger and vice versa. That is the best I could come up with.

 

I'm am not doing this as I have no reason.

Edited by peanut56
Because people jump to conclusions and cause harm.
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21 hours ago, StevenA said:

I currently have my XRP stored on my Ledger Nano S, moved from exchange account with KYC and AML. Is there a way I could anonmyize it or detach it from my identity. E.g. Can I buy Monero with it (on Binance maybe?), then with the Monero buy XRP on to a new Ledger Nano S.

Or something along these lines?

There are two answers to this question.

Can you move around XRP so that it is "impossible" to link ownership of address A to address B? Depending on your threat level, as noted above, probably. There are several ways of doing this, including transferring your XRP to an exchange and withdrawing them to another address, converting them to other tokens on another exchange, using mixers, zcash, zcoin, trading off ledger with friends, and repeat.

When you have your XRP in a "clean" address, can you come up with story as to how you acquired them? As soon as you want to use your cryptocurrency in a legal manner, you may have to prove provenance. For example, let's say you make more than 100,000 USD by speculation, you sell them, and deposit the proceeds in a bank account. Depending on where you live, and the amount, the bank will most likely ask you where they come from, and ask for some proof (i.e., bank transfers to an exchange, trading history, etc). Banks are very cautious about money laundering, and they are extra cautious when they know the money comes from crypto.

So, it really depends on what you want to do.

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