Re:Bitcoin is a ‘boon for surveillance’, says former CIA dir...
by randomopining on Wednesday April 14, 2021 @09:42AM
(#26806924)
Yeah literally, is it not just a connected graph of transactions? Sounds like smart people can split and roll and all this stuff to their main transaction to try to obfuscate it. But with the proper tool, couldn't the FBI use powerful computers to fill the graph in with human links and deduce a lot from it?
XMR I don't know though.
Re:Bitcoin is a ‘boon for surveillance’, says former CIA dir...
by dragonelite on Wednesday April 14, 2021 @09:54AM
(#26807088)
I don't know enough, but the moment I saw I needed to go through a Know your customer process I knew block chain privacy is compromised.
Wouldn't be surprised if there are ways to obfuscate your bitcoins. Something like wrapped bitcoins or something.
For the time being you already have block chain analytics companies that can trace and back trace transactions. Hell maybe they can even do it cross chain.
I wouldn't be surprised if a NSA or other nat sec organization can hack something together in a weekend.
So I don't mind the KYC process so I don't have to jump through hoops, but I do see how nations can use lawfare to attack/monitor crypto currencies, its not that hard to see. You have a open ledger, you have wallet addresses connected to personal identities. They can probably use social media connection graphs to fill in the gaps of unknown wallet addresses. Its a real time financial monitoring tool like the current system, just packaged up as some libertarian/tech bro nirvana escape hatch. Brilliant marketing if you ask me, but I'm just using it as an inflation hedge.