Monero under scrutiny of the FBI

[TrueAnon]

XMR is done like dinner lol.

REAL WORLD needs coins like WBB (rebranded ed.) 

[generalizethis]

http://www.coindesk.com/fbi-concerned-about-criminal-use-of-private-cryptocurrency-monero/

The privacy-focused digital currency monero has captured the attention of the Federal Bureau of Investigation (FBI), which has expressed concerns over its use among criminals.

Following the event, the special agent said he couldn't provide additional details specifically pertaining to the FBI’s investigative techniques surrounding monero when asked by CoinDesk.

Thats what you get when you promote as cryptocurrency your direct links to darknet markets, i guess.
The FBI's full attention and subject to its investigative techniques.

how legitimate is this source? would the FBI actually be investigating an altcoin?

LTC and BTC transactions also fall under this type of scrutiny due to darkmarket usage--any coins with noteworthy usage in darkmarkets or tax evasion are going to get the attention of the FBI--it's their job. I think it's weird that people are confusing specific transaction use with the coin as an entity, but I guess it's hard for people who are used to centralized organizations to wrap their heads around opensource software. The only way the FBI would be investigating a coin as an organization is if it were centralized and had a launch  that wreaked of financial manipulation and promised ROI--it would be funny if OP's title ends up being the headline for his favorite organization/coin.

[qwizzie]

http://www.coindesk.com/fbi-concerned-about-criminal-use-of-private-cryptocurrency-monero/

The privacy-focused digital currency monero has captured the attention of the Federal Bureau of Investigation (FBI), which has expressed concerns over its use among criminals.

Following the event, the special agent said he couldn't provide additional details specifically pertaining to the FBI’s investigative techniques surrounding monero when asked by CoinDesk.

Thats what you get when you promote as cryptocurrency your direct links to darknet markets, i guess.
The FBI's full attention and subject to its investigative techniques.

how legitimate is this source? would the FBI actually be investigating an altcoin?

If that altcoin has direct links to Darknet markets or is used as payment with regards to hijacked pc ransom demands, the FBI will of course investigate it.
The source is Coindesk which is pretty reliable, they even mention the FBI's special agent :

Joseph Battaglia, a special agent working at the FBI’s Cyber Division in New York City

http://www.coindesk.com/fbi-concerned-about-criminal-use-of-private-cryptocurrency-monero/
http://www.coindesk.com/catch-bitcoin-ransomer-inside-fbis-cyber-investigation-process/


  

[cryptohunter]

http://www.coindesk.com/fbi-concerned-about-criminal-use-of-private-cryptocurrency-monero/

The privacy-focused digital currency monero has captured the attention of the Federal Bureau of Investigation (FBI), which has expressed concerns over its use among criminals.

Following the event, the special agent said he couldn't provide additional details specifically pertaining to the FBI’s investigative techniques surrounding monero when asked by CoinDesk.

Thats what you get when you promote as cryptocurrency your direct links to darknet markets, i guess.
The FBI's full attention and subject to its investigative techniques.

how legitimate is this source? would the FBI actually be investigating an altcoin?

If that altcoin has direct links to Darknet markets or is used as payment with regards to hijacked pc ransom demands, the FBI will of course investigate it.
The source is Coindesk which is pretty reliable, they even mention the FBI's special agent :

Joseph Battaglia, a special agent working at the FBI’s Cyber Division in New York City

http://www.coindesk.com/fbi-concerned-about-criminal-use-of-private-cryptocurrency-monero/
http://www.coindesk.com/catch-bitcoin-ransomer-inside-fbis-cyber-investigation-process/


  

Yeah, like they will just ban one anonymous coin if they start with this. If xmr kicks them into action they take down dash too which should be easier to do. I mean they won't suspect everyone will move over to one of the other anon coins if xmr gets taken out or reduced down to not being worth dealing with will they? when dash is outlawed from all the main exchanges it will be crushed like an ant.

Frankly all anon coins are probably going to be reduced to dust once they start paying attention to them. I am not against anon coins but if they get the rest of the crypto party shut down early that will be rather upsetting.

In those hearings we were all watching on here back in 2013 the main thing they repeated over and over is that they will NEVER allow anonymous crypto currency. That includes dash.

[Spoetnik]

Blatant diversion.

Monero is in the news mentioned by name.. so a shit load of retards show up to rail on endlessly about how Dash is so bad.

ahhh the credibility of these Morono fuck heads is astounding LOL

Seems to me Monero would be no where with out standing on Dash all the time.
Otherwise why do they feel the need to attack another coin incessantly when confront ed with criticism of their own coin ?

For the record i have 1 fucking account unlike all of you.
I have never owned either coin.. nor will i.
get this assholes.. i am honest 

I know right.. this shit is so fucking corrupt i have had people call me a liar and insist i have an agenda etc and am trying to manipulate shit for profits because they can not wrap their heads around the fact that some people are in fact HONEST.

..they simply can't believe it.

[Febo]

Otherwise why do they feel the need to attack another coin incessantly when confront ed with criticism of their own coin ?

There is no critic here. There is an article on Coindesk about Joseph Battaglia talking to 150 Law students about Crypto.  Most likely of Bitcoin and also mention Monero superior technology.

There is no criticism in this. Is just more awareness to crypto. And is free. USA government paid for it, since probably they organised it, or I dont know who paid since in USA some schools are private.  No one from crypto organised it and paid. Only good technology will attract such awareness. Those 150 Law students are our future. And is perfect they learn and know about Crypto.

[Spoetnik]

You were all proud as a peacock struttin' around here boasting about your oh so great DARK MARKET ADOPTION.

Now ?

..get on it Investards ..line up and brag about it more.

By all means don't stop on my account (or the FBI's)  


EDIT:

What's worse ? Spoetnik's "FUD" or the FBI hunting you ?

[flipme]

You were all proud as a peacock struttin' around here boasting about your oh so great DARK MARKET ADOPTION.

Now ?

..get on it Investards ..line up and brag about it more.

By all means don't stop on my account (or the FBI's)  


EDIT:

What's worse ? Spoetnik's "FUD" or the FBI hunting you ?

That pic - LOL

Interesting article about Ring CT on Steemit
https://steemit.com/cryptonote/@macrochip/warning-every-cryptonote-monero-transaction-in-history-will-be-retroactively-exposed

Warning: Every CryptoNote/Monero transaction in history will be retroactively exposed

The CryptoNote codebase and its best known currency-derivative Monero, both of which prominently use ring signature anonymity as their defining feature, build their entire privacy scheme upon said feature. This is highly problematic to anyone that relies on their transactions to be anonymous not only in the present but also well into the future as I will show in the following.

If someone or something (e.g. an AI) ever were to break ring signature anonymity every CryptoNote currency's blockchain will be completely de-anonymized from beginning to end. This only has to happen once. So in regards to anonymity Cryptonote has one centralized point of failure: The robustness of its ring signature implementation.

Case in point

A (former?) Monero team member going by the name of "Shen Noether" wrote a (now deleted) blog post about how he was able to break the anonymity of ShadowCash due to an erroneous implementation of ring signatures (Here's an archived version. - And an archive of that).

Shen went on to deanonymize the entire ShadowCash blockchain from start to finish just to prove the flaw he found was serious and painfully real. Had anyone -up to that point and subsequently- ever put their faith into SDC's flawed ring signature implementation and made a life and death transaction with ShadowCash, they'd be in mortal danger right now (to emulate doomsday rhetoric heard from Monero "steward" Riccardo Spagni in regards to other privacy-oriented currency projects and their purported flaws).

...more

[smoothie]

Monero partnering guide....basically dont bother:

is this basically telling that the publicly exposed monero "devs" are actually not capable to help with integration? do they even dev? who really developed monero then?

The way I understand it is fluffypony did offer some consultation regarding Jaxx's monero integration.

But if I'm not mistaken he did it for free. Jaxx wanted help at no cost to them but at the same time wanting to reap the profits of having monero integrated into their app.

Nothing was exposed except the incompetence by Jaxx and their obvious ulterior motives.

LESSON: There is no free lunch if you are the first to attempt to develop an app for a new technology like Monero.

The mocked up image is from someone who only is cherry picking details of the overall situation.

[flipme]

Hey arsehole gang, time to start bashing VCASH again, its just having a comeback.
Looks like people are bailing XMR and buy XVC instead.

I could understand them. Too much shit coming up around XMR atm.

[thepo1m]

I just have a feeling that If monero overcome this FBI FUD, the price maybe aheading to the $1 billion marketcap, it seems to be the only coin given governemnt concern now and this will make the value sky rocket

[iCEBREAKER]

Hey arsehole gang, time to start bashing VCASH again, its just having a comeback.
Looks like people are bailing XMR and buy XVC instead.

I could understand them. Too much shit coming up around XMR atm.

Bashing VCASH?  Nah, there's no need to beat that dead horse.

Without John Conner there is no VCASH just as without Evan Duffield there is no DASH.

Stop conflating BUS_FACTOR=1 hobby coins with those enjoying a critical mass of developers.

[flipme]

Hey arsehole gang, time to start bashing VCASH again, its just having a comeback.
Looks like people are bailing XMR and buy XVC instead.

I could understand them. Too much shit coming up around XMR atm.

Bashing VCASH?  Nah, there's no need to beat that dead horse.

Without John Conner there is no VCASH just as without Evan Duffield there is no DASH.

Stop conflating BUS_FACTOR=1 hobby coins with those enjoying a critical mass of developers.

I think they have a nice coin now that the psycho is gone and the crew seems to do a good job, seems a nice hobby they have.
And you're getting desperate, because you're running out of arguments.
Your head honcho developer indeed has enough critical mass, I know that just by looking at his beer tits.

But anyway, this is the Monero FBI thread, lets go on with that and observe its downward spiral into oblivion.

[goin2mars.]

Come on now, many successful ventures have come under scrutiny of the FBI and continued on to be wildly successful. Of course the opposite is true, but to state one or the other as fact before the facts have presented themselves is total speculation. There's a speculation thread already for that.

Hell all I see here is an article saying, explicity, that the way in which the agency conducts investigations will change. Nowhere here do I see any mention of any particular cryptocurrency being outlawed or banned. I've had a good laugh though, readings your reactions. My own reaction personally was to reconsider exactly which people selectively respond to specific people only and not like traditional posters, often more open to having discussions with most everyone with a relevant opinion.

Speaking of speculation, there's a significant amount up for loan on Poloniex, from which you could probably make at least a couple dollars on if you were really to know for a fact that there will be a downward spiral into oblivion. I encourage you to take advantage of this opportunity to make serious returns, as there's just enough being offered for upwards of 30-60 days that you'll surely consider it a worthwhile adventure.

[Spoetnik]

The FBI admitting they have been sniffing around Monero is not a good thing.

They simply see what *is*

What YOU see when you look around.. an Altcoin with no adoption.
Well, except a failed attempt at Dark Market adoption (DM's guys did not take to it i guess)

Get it ?
I don't see Monero as having accomplished fuck all.
What is the difference between now and 2 years ago ?
The price ?
So what.. that juts tells me their shenanigans and hype and pump shit boosted it.
And lucky for them they have been convincing in pointing out a key issue..

The scene got worse and worse pushing ICO's lowering the bar for years now.
So eventually it got to a critical point where users were FINALLY turned off by IPO/ITO/ICO's
And then wanted to turn to a "mined" coin etc.
Then they run into Monero shill's hocking their bags..
THAT is why the price is where it is at now.
..and that is not any sign of success either.

All that does is tell me the crowd here chugged the Kool-Aid.
And the crowd are dummies.. they supported bullshit like Doge Coin and Ethereum for example.

The FBI mentioned Monero and that is a sign of legitimacy ?
No.. guys that is simply retarded.
If anything it's a god damn warning that they have and will be hunting your ass's.

Many companies were investigated by the FBI and went on to be successful ?
Name one..
Taliban inc. after the 911 attacks ?  

Are you people fucking retarded or what ?
Seriously are you brain damaged ?

You do realize you are defending a currency that has no chance in hell at being used by the general public but instead is going to get used by criminals ?
The Monero Cult members even know this which is why they got Monero adopted on Dark Markets then bragged about it which caused a surge in popularity by the greedy profiteers here hoping to make a buck of it.

DM's usage = planned price pump = kidiot investards flocking in for ROI'z

Once the retards started flowing in like lemmings you proclaimed it a glowing success because of... well, the price.

Are you retarded ?
If i certify a rich person will pump a coin.. ANY coin.. those same stupid little dipshit morally bankrupt lemmings will come running in fast & hard too.
That does not PROVE success by any stretch of the word.

What does ?

A D O P T I O N

How many times do i have to point that out to you all ?

Where is Monero's adoption ? DARK MARKETS
And why is the FBI sniffing at Monero's ass ?
D A R K - M A R K E T S

Tread carefully smart ass profiteers because you are playing with fire.
This is not a little game.. This is deadly serious shit !
The legal authorities have no concern about your silly hollow little forum idealism rabble.
Nope, they don't give two shits about some schmuck douche hoping to make 50 bucks off some shitcoin bullshit.
They care about hunting Pedophiles on dark markets or gun traffickers or drug dealers or worse Terrorism !

And yet even worse than that.. Billion dollar global Drug Cartels and Ransomware coders.
I would not be surprised to hear Cartels are pushing a Trillion a year in drug money around the globe.

I did some investigating recently on Mexican drug cartels and you all would be stunned at how much paper cash money they get in hand every year.. ALL of it going in and out of the USA.
They make some much profit that they sink Narco Submarines when spotted by planes.. with say 250 million sunk in the boat's.. they make so much people they can simply throw away a quarter billion.
And not only that but they do it repeatedly all month long every month all year long.
They couldn't care less about throwing away 200 million.. they simply send another boat right afterwards and keep doing it..
Those narco-subs ? many are made at a cost of millions for 1 single trip then they skuttle them.

So what does the FBI care about ? Doing their god damn job !
You dipshits and your mouthy moronic idealistic rabble here is irrelevant.
If Monero is going to be a problem they will take you fuckers out at the knee's fast and hard !
The 5 losers here shilling for Monero here all year round will be dealt with swiftly.
Lets see how much of a cocky tough guy ICEbreaker is when he is sitting in Guantanamo bay for a year or two.

Little children clutching BTC ROI'z this is not a little kid's game for profits.

You brats have been warned.

PS:
@flipme / roach
I liked your post

[goin2mars.]

"..If Monero is going to be a problem.."

All I needed to read.

I said scrutinized, not investigated. The FBI has scrutinized Apple, who publicly denied to crack their own phone. There's a file somewhere with details of conversations and facts from the investigation. Microsoft fought a gag order in May 2014. Also, what about the Uber investigation around September last year following an explosion in Chelsea?

On the flip side yes, Taliban inc. was investigated, then bad things happened. Terrible stuff, details. That anyone thinks that the FBI investigating people using Monero is a bad thing for Monero, is again more speculation. It's the details of what's in the investigation that make the difference between, well, pretty much everything.

Short of that though, I definitely agree that all they care about is hunting pedos, gunners, terrorists in the states and increasing their budget (I added that last one). The fact that Monero is funneling a few into the internet is a detail. And yes publicly mentioning Monero being used for such is obviously a warning to criminals, one of the many things the FBI does on a daily basis.

Little bit of double thought though .. how can there be a failed attempt at Dark Market adoption, but an active investigation into the usage of Monero in the Dark Net Market at the same time?

[Spoetnik]

Monero is created to circumvent AML's
Monero is adopted by criminal Dark Markets.
Monero is mentioned by the FBI.

..what is there to speculate about ?

That it's a good thing ?

[Rockie1234]

Well to be fair, at least I know now that it is a serious currency of course that doesn't mean we should immediately go and buy Monero. I was very suspicious beforehand about the several pumps surrounding Monero; if the FBI are worried that proves that ring signatures have at least some validity.

[generalizethis]

This isn't a Monero thing, it's a use thing.

Quoting the article no one has seemed to read (at least not very well):

"Since 2013, the agency has seen "enormous growth" in the number of cases involving digital currency payments, according to Battaglia. Of those, 75% involved bitcoin, he said, though he mentioned litecoin and monero as other cryptocurrencies the agency has encountered thus far."

and

"Following the event, the special agent said he couldn't provide additional details specifically pertaining to the FBI’s investigative techniques surrounding monero when asked by CoinDesk.

During the panel, however, Battaglia described the FBI as "a reactionary organization", adding that, instead of trying to predict the direction that cryptocurrency use might go, the agency has adopted a wait-and-see approach.

Battaglia concluded:

"We’re going to look at what catches on, and what becomes mainstream, and then we’re going to keep an eye on that, because usually not long after that is when you start to see some of the fraud and some of the more nefarious uses of that technology."

I guess reading the words right there in front of you (and understanding what they mean) is a little too much for some.

[pereira4]

WOW so much sad pathetic fail with the cliche'd excuses here.

Since i posted last..

pereira4 = Bitcoin.. Bitcoin.. Bitcoin.. but but but, Bitcoin did this and Bitcoin did that.  

Problem.. i addressed this on my 2nd to last comment here and more than that too (ignore the facts more)

Retort fail.

Where is that comment? I don't see how you addressed that.

Im just saying, bitcoin can make FBI attempts to trace people's coins, but a mixer like helix under Tor seems like it would frustrate their attempts to properly trace it.

What im also saying is, eventually everyone using crypto will be labelled a potential terrorist, that's why anonimity by default should be what we need. Monero is good because of that, but the problem is, they don't really solve the node centralization problem. Their dynamic block size approach will make the network prone to nodes being centralized, which makes the coin less anonymous than bitcoin.