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RE: DHS Says Darknet Criminals Are Switching From Bitcoin [BTC] To Monero [XMR] (and passing on ZCash [ZEC] and DASH)

in #bitcoin7 years ago

Very interesting article and tons to talk about here, too much in fact!!!

The idea that bitcoin was the thing criminals, terrorists etc used I believe was hyped up myth and pushed to discredit bitcoin. Its not anonymous and with all transaction able to be tracked by anyone not exactly ideal if you a criminal or up to something malicious. (hint hint panama papers, off shore bank accounts, shell companies.)

The identity privacy from bitcoin is good but generally taking the bitcoin to fiat is where you get unstuck and discovered if your up to no good. Bitcoin, being the most popular cryptocurrency, has the most fiat options and in the past was pretty much the only one with fiat options at times. That has changed with cryptocurrencies becoming more popular and many others have fiat options and much better anonymity options.

Zcash, DASH, PRIVX, VERG, Monero etc - take your pick.

Monero is probably the one of choice here if ransomeware attacks are anything to go by.

https://cointelegraph.com/news/bitcoin-exchange-shapeshift-helps-police-as-wannacry-attacker-converts-to-monero

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Great point about ransomware. What the criminals are ask to get paid in a huge hint what they consider the best value for their privacy needs.

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