How Dirty Money Disappears into the Black Hole of Cryptocurrency

Re:How Dirty Money Disappears into the Black Hole of Cryptoc... by rawells14 on Friday September 28, 2018 @04:35PM (#18096823)

I would argue that it depends on the Cryptocurrency you are looking at. While yes, Bitcoin has almost no privacy when it comes to watching a transaction take place from Address A to Address B, if you look into the white paper of Monero [0] or ZCash [1], you will find that they are almost impossible to trace from a technical perspective. They have essentially solved this problem and you can achieve full privacy and anonymity.

If Cryptocurrency takes off and society accepts it enough to take it as a ordinary medium of exchange, I would imagine it would almost be impossible to prevent people from routing a subset of their transactions through privacy coins.

[0] https://lab.getmonero.org/pubs/MRL-0001.pdf

[1] http://zerocash-project.org/media/pdf/zerocash-extended-2014...

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Re:How Dirty Money Disappears into the Black Hole of Cryptoc... by woolvalley on Friday September 28, 2018 @05:15PM (#18097126)

I wouldn't say so necessarily, since there have been attacks that reveal who's who. It can lull you into a false sense of security and you could be caught in the future. They are relatively immature tech and I would wait a while until trusting them for privacy critical actions.

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