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Chainalysis: A startup that helps governments trace crypto

bloomberg.com

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Re: Chainalysis: A startup that helps governments trace crypto

#41

Post by null_object »

pclmulqdq wrote: post #18

As far as I know, the state of crypto privacy is that everything is directly traceable except: * Bitcoin lightning transactions when the lightning nodes involved are trusted to not keep logs * Transactions through mixers with a lot of users * Monero transactions * Zcash private transactions And everything is de-facto traceable except: * Tornado cash users who use standard-size amounts (or users of another equivalentl…

Genuine question: is there a possibility that Monero is being monitored covertly?

It seems an obvious target to be a Trojan horse in the midst of criminals and tax-evaders.

Re: Chainalysis: A startup that helps governments trace crypto

#42

Post by cowtools »

null_object wrote: post #41
pclmulqdq wrote: post #18

As far as I know, the state of crypto privacy is that everything is directly traceable except: * Bitcoin lightning transactions when the lightning nodes involved are trusted to not keep logs * Transactions through mixers with a lot of users * Monero transactions * Zcash private transactions And everything is de-facto traceable except: * Tornado cash users who use standard-size amounts (or users of another equivalentl…

Genuine question: is there a possibility that Monero is being monitored covertly? It seems an obvious target to be a Trojan horse in the midst of criminals and tax-evaders.

It is possible but unlikely. It is likely that clearnet use of monero is monitored, for example. But in terms of security, monero users are very cautious. The code has been independently audited, and has generally succeeded where other cryptonote-based cryptocurrencies have taken fatal missteps.

I suspect that most monero black markets are taken down by sting operations. The black markets all have a limited shelf life and these days they tend to intentionally retire before getting "silk-roaded"

Re: Chainalysis: A startup that helps governments trace crypto

#43

Post by vecio »

jqpabc123 wrote: post #13

Imagine the outcry if government announced that every transaction you ever do will be recorded in a publicly available database. Bitcoin as it currently exists will never be a replacement for fiat --- not even close --- for a multitude of reasons.

This is a popular layer 2 solution to make Bitcoin anonymous on the public blockchain, already handled more than 30M transactions. https://v2.viewblock.io/mixin/asset/fe6b7788944d328778f98e3e...

Re: Chainalysis: A startup that helps governments trace crypto

#44

Post by jqpabc123 »

jcbrand wrote: post #14
jqpabc123 wrote: post #13

Imagine the outcry if government announced that every transaction you ever do will be recorded in a publicly available database. Bitcoin as it currently exists will never be a replacement for fiat --- not even close --- for a multitude of reasons.

Transactions are moving to layer 2 solutions like the lightning network. Individual lightning transactions are not recorded on the blockchain and are not subject to chain analysis.

What prevents lightning network operators from making transactions records and details available --- for fun and/or profit?

Better yet, what prevents a lightning network operator from going rogue and draining your account to fund his retirement and then moving to Tonga?

Imagine the outcry if government suddenly announced that all your fiat bank transactions will be routed through small, unregulated 3rd party operators who can do as they see fit with them?

Re: Chainalysis: A startup that helps governments trace crypto

#46

Post by hanklazard »

pclmulqdq wrote: post #18

As far as I know, the state of crypto privacy is that everything is directly traceable except: * Bitcoin lightning transactions when the lightning nodes involved are trusted to not keep logs * Transactions through mixers with a lot of users * Monero transactions * Zcash private transactions And everything is de-facto traceable except: * Tornado cash users who use standard-size amounts (or users of another equivalentl…

A couple of other projects for privacy on ethereum: zk.money and railgun.ch Also dark.fi is a project that aims to produce easy-to-use developer tools for private transactions.

Re: Chainalysis: A startup that helps governments trace crypto

#47

Post by houstonn »

pclmulqdq wrote: post #18

As far as I know, the state of crypto privacy is that everything is directly traceable except: * Bitcoin lightning transactions when the lightning nodes involved are trusted to not keep logs * Transactions through mixers with a lot of users * Monero transactions * Zcash private transactions And everything is de-facto traceable except: * Tornado cash users who use standard-size amounts (or users of another equivalentl…

Satoshi's largest error was not making Bitcoin private by default and it strikes me as out of character given his/her level of commitment to being anonymous.

Re: Chainalysis: A startup that helps governments trace crypto

#48

Post by WHATDOESIT »

houstonn wrote: post #47
pclmulqdq wrote: post #18

As far as I know, the state of crypto privacy is that everything is directly traceable except: * Bitcoin lightning transactions when the lightning nodes involved are trusted to not keep logs * Transactions through mixers with a lot of users * Monero transactions * Zcash private transactions And everything is de-facto traceable except: * Tornado cash users who use standard-size amounts (or users of another equivalentl…

Satoshi's largest error was not making Bitcoin private by default and it strikes me as out of character given his/her level of commitment to being anonymous.

Perhaps it was a tradeoff they knowingly made to not have it become illegal immediately.

Re: Chainalysis: A startup that helps governments trace crypto

#49

Post by LN_is_a_scam »

jqpabc123 wrote: post #44
jcbrand wrote: post #14

Earlier quoted context omitted.

Transactions are moving to layer 2 solutions like the lightning network. Individual lightning transactions are not recorded on the blockchain and are not subject to chain analysis.

What prevents lightning network operators from making transactions records and details available --- for fun and/or profit? Better yet, what prevents a lightning network operator from going rogue and draining your account to fund his retirement and then moving to Tonga? Imagine the outcry if government suddenly announced that all your fiat bank transactions will be routed through small, unregulated 3rd party operator…

LN is a "re-centralization" of a decentralized asset.

From day one anyone in the know with Bitcoin has said LN is a scam and/or completely pointless for the users.

LN is a way for big central authorities to lock away and control the assets of individuals, sounds like a bank right?

Amazing that such an obvious scam has gone on for so long and gathered so many "users".

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