DHS Says Darknet Criminals Are Switching From Bitcoin [BTC] To Monero [XMR] (and passing on ZCash [ZEC] and DASH)
This article from deepdotweb caught my eye.
Here is a list of what I found most interesting in the article:
According to Blockchain Intelligence Group, a blockchain analysis company, claims that illicit Bitcoin transactions have decreased from half of all transactions to less than 20% of all transactions.
Other privacy-centric cryptocurrencies such as ZCash and DASH do not seem to provide as much privacy for every single transaction as Monero does.
In the takedown of BTC-e, the US Government claims that BTC-e was involved in laundering billions of US Dollars worth of cryptocurrencies
When asked about the reputability of Bitcoin , a DHS agent went on record and said “I think it’s a lot more legitimate than people give it credit for."
Most ZCash transactions are not entirely private.
Given the price action (and increase) in Monero over the past few months, it does seem to show an inflow of money.
Steemit followers: do you know of what might be better than Monero? PIVX?
Let me know your thoughts below.
Kryptonaut
ICOs are taking all the heat from regulators right now, but I have a feeling that cryptos with opaque blockchains like DASH, Monero and Zcash will be in the crosshairs next.
Too late for Montero... Saw this at 50…what is pivx?
PIVX... Yaay!
I'm hoping dark web users would use it too. As with a few other coins I'm speculating on - Navcoin and Vertcoin. Would be nice if they'd use Feathercoin too. That would surely make my day :)
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@kryptonaut Hmm... nice post & review... as we have seen earlier a jump/bullish trend of Ethereum, BitcoinCash, NEO, then DASH, MONERO, and now Zcash since 3 days..... The Same happened with Monero following NEO, NEO from no where from 5$ to 50$.. then stable between 20's ... and Monero from 40$ to 150$.. and now It's under 100$ . If you have noted that there was a weak signal earlier for Monero that means (in my opinion) It's price will go slightly up like 120 to 140 then It's coming back to the floor under 70$.
Earlier 3 days back when everyone predicted Zcash will go down, My forecast was 95% accurate on it.
DarkNet Criminals will never bound their selves with specific currency neither anyone can catch this conflict easily.
Thank you for this informative post.
Makes sense that a criminal organization and/or individuals won't want to be tied down to one option.
Thanks for the comment and I look forward following your posts.
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PIVX is basically a DASH clone with a Proof-of-Stake tweak. So, no.
CloakCoin is talked about but I haven't looked at it deeply. For me Monero is king in the privacy niche and if governments come down hard on cryptos, a lot more people will move into Monero.
I haven't really looked into anonymous coins. Thanks for the info!
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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
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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