Longhash launches Bitcoin Tracker to find "dirty money"


In the foreground

Longhash, a crypto and blockchain media and analysis site, has recently launched its own Bitcoin Tracker. In an attempt to "give more peace of mind to investors, regulators and the general public", users can basically find the origin of BTC, tracking it through the many places it has traveled.

Read also: Robinhood accused of taking from younger investors to benefit Wall Street traders

Longhash launches Bitcoin Tracker

"Compared to the traditional financial system," says Longhash, "the cryptocurrency may seem cloudy, transactions with bitcoins are pseudo-like, which makes them attractive to criminals." And while this statement can certainly trigger a large number of Bitcoiners to outrage, and probably should, the site believes that the encrypted adoption adoption will lead with the advent of transparency tools.

It is also an interesting juxtaposition on where many in the ecosystem seem to be, philosophically. The privacy-based currencies, regardless of their actual effectiveness, are all the rage, since developers try to impede those responsible, official or not, to get a more cash-like experience.

Longhash launches Bitcoin Tracker to find

For Longhash, the attraction of institutional money seems to overcome such a tendency. "When you send money to a Bitcoin address, who are you dealing with exactly?", They ask. With this in mind, they have created a search for BTC addresses on their homepage.

"To be clear," emphasizes Longhash, "we are not disclosing the identities of the Bitcoin keepers, we only hope to offer more peace of mind to investors, regulators and the general public." The widespread perception that cryptocurrency is associated with crime it's good for the industry as a whole. "

Longhash launches Bitcoin Tracker to find
See the explanation below.

Fuzzy, Precise, Address Ratings and Dirty Money

To find out the version of site transparency, users can access the Longhash home page and click on an Address link to enable two types of bitcoin, fuzzy, and precise address lookups. A fuzzy search on the Longhash page requires only "a few characters from an address". Users can examine "10,000 richer bitcoin addresses" from the richest first to the bottom. The precise searches seem to be at the height of the title. The curious insert a BTC address and are available to them the balances, the amounts sent and received by BTC and the transaction history in general.

A curious whim of this research is the Address Rate. "We evaluate the addresses by analyzing their transactions and the addresses from which they send money and receive money.If, for example, we find that an address is transacting with another crime-affiliated address, the first address will get a lower rating. the addressing rate, the more reliable the address is ", notes the company.

Longhash launches Bitcoin Tracker to find Like the dollars, the bitcoin can go through various paths to finish up in your wallet. If you want to know more about the address by sending them your way, Longhash thinks he can provide directions. "We have classified four main types of address," they claim. "Blue light refers to a mixing service, which purposely hides the source of a Bitcoin transaction.The darker blue refers to a cryptocurrency exchange.The magenta refers to a mining pool and the orange is refers to a gambling site, light purple refers to an old address that is no longer in use. "

Probably the most interesting part of the experience is how the classifications are ranked in colored rings. The inner inner ring is of BTC origin. If that ring was blue, this would mean that its first 30 moves were made through formal encryption exchanges. If the next innermost ring is purple and a mix of orange, this means that the BTC has had both trading and gambling origins. The external ring, therefore, shows how, in this example, BTC "came from a combination of cryptocurrency exchanges, mixing services and pool of mining activities, gaming sites," they say. "So, using this chart, you can see if a Bitcoin has any relation to dirty money."

Will you use this BTC address locator? Let us know in the comments below.

Images courtesy of Shutterstock, Longhash.

On Bitcoin.com there are a lot of free useful services. For example, you saw ours Tools page? You can also look up the exchange rate of a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And more.

[ad_2]Source link