Bitcoin Question: Addresses & Exchanges

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  • 3runhomer
    SBR Sharp
    • 08-23-10
    • 423

    #1
    Bitcoin Question: Addresses & Exchanges
    I'm knee deep in bitcoin...but still have some questions:

    -Bitcoin are obviously tied to an address that can change as they move through transactions...what happens when they go to an exchange? Ex: If your bitcoins are in blockchain, and you then transfer them to an exchange using your exchange deposit address...and you do this a few times with a new deposit address each time...

    Are the coins "dis-associated" with an address when they are at the exchange?

    Is this why people say you can "wash" the coins by depositing at an exchange?
  • 3runhomer
    SBR Sharp
    • 08-23-10
    • 423

    #2
    Let me try asking my question in another way:

    Suppose you made 5 bitcoin withdrawals all to blockchain over a few months.

    Let's say each one was for $1,000. So you currently have $5,000 in blockchain...with $1,000 in 5 different bitcoin addresses (you withdrew to a new/fresh/unused address for each payout).

    Now you want to transfer to an exchange like Poloniex and convert your $5,000 to USD, and maybe do some trading...

    You will have to do 5 different transfers ($1,000 each) to get all your money in the exchange (Poloniex).

    Once you have made the 5 transfers, and all your funds are at the exchange...what "bitcoin address" are they currently tied to?

    Or are they "disassociated" from addresses until you decide to move the funds again?
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