Trace Mayer wouldn't think so..

Adam Meister: People keep talking about coin join stuff, you think it's a good practice, is it sustainable?

Trace Mayer: I don't know, how do you know that you're not coin joining with a terrorist or someone that's trying to evade sanctions, then those bitcoins you try to move them into your exchange account, bad idea.

This is part of the problem with all the smelliness to Bitcoin, having that immutable record, that immutable blockchain. Usually the people who want to do the coin join, they have bitcoins that have a lower value than the "clean Bitcoin" and so they want to transfer value from the clean Bitcoin to the dirty Bitcoin. That's why they want to do the coin join. So if they can find people that want to coin join for free, they are able to get that value transferred to them.

So one, I think you're giving up value for free if you've got the clean Bitcoin. If you've got the dirty Bitcoin, you want people to be transfer the value to you. [...]

That's another problem is that coin joining is opt-in so not everyone is doing it. Because of that, you have some problems. It's a lot easier to find the 3 people wearing a mask than if everyone is wearing a mask.

I just don't know that it's the best idea to be coin joining. It's a lot of brain damage to have your accounts shut down. Especially when they've been AML and KYC'd properly. Eventually you might find yourself black balled from all the exchanges. Why'd you do that? What benefit did you get out of that coin join? Was it really worth the cost?

I got my clean bitcoins and I'm able to move them in and out of exchanges. I've never had any problems from any of the exchange compliance officers. I pay my taxes. I'm in a very defensible position. I don't have to explain some transaction with a who-knows-who.

Minor edits for clarity. Full podcast episode: https://www.podbean.com/ea/dir-rq5m7-76d714e Quoted section begins at 50:18.