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[–]WhiteZealotWhite Nationalist 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

I saw that Counter-Currents reports Coinbase won’t let them receive funds.

What they mean is Coinbase won't send to Counter-Currents on behalf of its (Coinbase's) customers. When you buy crypto at Coinbase, they give you a credit in their database, but Coinbase is the actual owner of the crypto that you bought, because it is they who hold the private key to the address where the crypto is located. When you put in a request to send some of "your" funds, you're trusting that they will send it on your behalf.

In crypto, no third party can prevent any two addresses from sending to each other.

You can only send from an address if you have the private key to that address. The private key is a string of alphanumeric characters, and it should never be shared with anyone. The address is derived from the private key by running the private key through a certain algorithm. It's a one-way cryptographic algorithm, so while it is easy to produce the address from the private key, it is impossible to produce the private key from the address. Therefore, the address can be freely shared with anyone.

If you're storing a large amount of money, you'll want to produce your private key and associated address in the following way:

  1. Download software that generates random private keys and the associated addresses.


    Download software that allows you to input a private key and see the associated address.

    In either case, only use the most well-known and trusted software.

  2. Disconnect your computer from the internet.

  3. Produce a random private key and associated address using the software. Write down the private key on a piece of paper and store it in a secure location. Also write down the address.


    Roll dice in a private location to determine each character of your private key, and write it down on a piece of paper. Input the private key into the software to see the associated address, then write that down. Store the private key in a secure location.

    If you choose to roll dice, make sure your method of associating a roll number with a character for the private key is done in a way that doesn't bias any character.

  4. Back up all files you want to save from your computer.

  5. Restore your computer to factory state (ie. wiping it)

The point of doing it this way is to prevent malware from saving your private key and then sending it to a thief as soon as an internet connection is made.

For day-to-day use with lower amounts of money, it's fine to use a hotwallet like Metamask to generate accounts and send transactions while online. Hotwallets encrypt the private key and store it on your computer.

Ways to get crypto anonymously or to anonymize your crypto:

  • Mining.

  • Buying from someone in-person with cash without revealing your identity to the seller. For this, check out Local Bitcoins.

  • Buying without anonymity (such as through Coinbase) and then anonymizing your crypto by running it through a mixer or by some other means. For this, I would suggest buying ETH and then using Tornado to anonymize it.

    The caveat with this method is that the government will be able to see that you anonymized your funds, which they may use as evidence of criminal intent or otherwise punish you for.

[–]aukofthecovenantWhite man with eyes 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

You absolutely need to know that Bitcoin is not anonymous. All transactions are recorded on a publicly available ledger (the blockchain) that anyone can read. Case in point, here is a Twitter bot that announces whenever any "neo-nazi" receives Bitcoin. The SPLC tracks Bitcoin addresses of movement figures.

Use Monero if possible. It is less widely accepted than Bitcoin but considerably better for making transactions confidential.