Monero under scrutiny of the FBI

[adhitthana]

I'm surprised the price hasn't moved

[Febo]

I'm surprised the price hasn't moved

You expect those 150 Law students to move the market? I thought students should be poor.

[iCEBREAKER]

Those responsible in governments know about Monero for years. In governments of most countries. They monitor development of cryptocurencies and also Monero closely.  Now also 150 law students know about Monero.  



I wonder if you put a proposal to advertise DASH to 150 Law students, how much would that cost?

I LOL'd.   

Over-promise and under-deliver is what we have seen from every Dash project so far, from Masternode blinding and the Lamassu ATM to Legal Research and 2MB blocks.

The Dash proposal would be passed right before a pump and wind up costing in terms of fiat twice as much as intended.

The DashHole in charge of contacting 150 Law students would fail to meet the goal, but won't care because he already got paid.

Based on this failed Duffontology Evangelist's experience of "falling quite short" of his goal by 90%, we'd expect 15 Law students to be made more aware of Dash, at a cost per student 20X higher than budgeted.

100% of the future lawyers will be unimpressed with the Ponzi-like aspect of Dash's Masternode HYIP.

100% of the future lawyers will be surprised no regulatory action has been taken, despite Dash obviously triggering several prongs of the Howey Test's indicators for an illegal unregistered security.

https://www.strictlybusinesslawblog.com/2012/04/05/when-does-a-deal-involve-securities-regulation-part-2-the-howey-test/

Under the Howey test, a contract or transaction is an investment contract if “a person invests his money in a common enterprise and is led to expect profits solely from the efforts of the promoter or a third-party.”  Please note however that while the Supreme Court in Howey stated that the profit must arise “solely” from the efforts of others, later decisions by lower courts and the Supreme Court[1] have expanded this, so even if the investor has the power to be involved, the transaction may still be an investment contract if the efforts of others predominate.  Therefore, there are three essential components for this test: (1) investing money in a common enterprise, (2) the expectation of profit, and (3) the profit arising primarily from the efforts of people other than the investor.

[qwizzie]

Lets try to stay on topic, shall we.
I know thats asking a lot from Icey .. but still...

[iCEBREAKER]

Lets try to stay on topic, shall we.
I know thats asking a lot from Icey .. but still...

The topic of the FBI's scrutiny of Monero invites discussion of why they are not giving a shit about and scrutinizing Dash.

The question of the value of informing 150 law students about Monero (and what it would cost Dash to do the same) is also relevant.

[eckmar]

Same story again. Because of dark markets they told same old stuff about bicoin and now about monero. I don't really understand governments here. I mean fiat is used to buy groceries and drugs too for example, but it's normal. Why cryptocurrencies can't be the same ?

[StinkyLover]

Anonymity is NOT wanted by the general public (but this industry will NEVER listen). Using it as a USP for a crypto is just tightening the noose around it's neck.

Monero will not emerge from darkweb usage and the more anonymous it becomes the more underground it will be driven. Soon Monero will be seen as another drug crypto. BTC is moving away from that but Monero's soul has been bought and it's become the anonymous BTC replacement for nefarious activities via AlphaBay. In return, Monero holders can now claim "real world usage" and lots of bagholder profits.

Read Faust

Time to pay the piper!
Read Faust

[StinkyLover]

Same story again. Because of dark markets they told same old stuff about bicoin and now about monero. I don't really understand governments here. I mean fiat is used to buy groceries and drugs too for example, but it's normal. Why cryptocurrencies can't be the same ?

Because buying drugs is not the USP of cash. It is now the USP of Monero.

[flipme]

Plain and simple. If they can't control it, they're gonna destroy it. Make it a felony to use it.
The sweet little "network" and the "markets" are infiltrated by law enforcement to a high level, thats for sure.
If they start such a case, they're not looking for evidence, they already have it.
If they would want to bring down the network, it would take them half an hour or less to completely render it useless.
The main holders are well known, because most of the crap is traded on Polo, and not used for merchandise, anyway.
So it'll sure gonna end the way all crooked stories end.

Buh bye ...

[European Central Bank]

Plain and simple. If they can't control it, they're gonna destroy it. Make it a felony to use it.

it's only software. bittorrent has denied vested interests a ton of money but you don't see anyone outlawing that. it'll be 'closely supervised' and most potential users won't bother any more.

[flipme]

Plain and simple. If they can't control it, they're gonna destroy it. Make it a felony to use it.

it's only software. bittorrent has denied vested interests a ton of money but you don't see anyone outlawing that. it'll be 'closely supervised' and most potential users won't bother any more.

You're joking, aren't you. There have been thousands of arrests regarding BitTorrent, all over the planet.

[European Central Bank]

There have been thousands of arrests regarding BitTorrent, all over the planet.

because it was being misused in the eyes of the law, not because someone had downloaded and done nothing with it. there is nothing illegal about using it to torrent stuff that either you own the copyright for or doesn't have any copyright. the prosecutions are about how it was used, not the software itself.

[cryptohunter]

To be serious though I remember back in 2013 they had all those hearings in the US which we all watched being streamed. The thing they repeated over and over is that they would never allow anonymous crypto currency. So it's strange they even took this long to start looking into xmr and ALL the other anon based crypto currencies.

Even if the FBI go full on after xmr and other crypto currencies what exactly can they do about it right now ? how can they stop other nationalities using it between themselves?

I mean the mere fact it is anon or privacy based seems enough reason for them to stop it since they already said at those hearings they will never allow these to exist or operate within the US.

This will go for all all privacy based crypto I guess not just xmr

[flipme]

There have been thousands of arrests regarding BitTorrent, all over the planet.

because it was being misused in the eyes of the law, not because someone had downloaded and done nothing with it. there is nothing illegal about using it to torrent stuff that either you own the copyright for or doesn't have any copyright. the prosecutions are about how it was used, not the software itself.

BT is just a protocol. If its used for criminal activity the shackles are clicking.
Monero promotes itself as a currency for the Darknet, thats what they've put on their flag, small stupid difference here.

[European Central Bank]

Monero promotes itself as a currency for the Darknet, thats what they've put on their flag, small stupid difference here.

have they explicitly stated that? if they have then that's an extraordinarily dumb thing to do. i assumed they used words like 'privacy' and didn't go further.

[flipme]

To be serious though I remember back in 2013 they had all those hearings in the US which we all watched being streamed. The thing they repeated over and over is that they would never allow anonymous crypto currency. So it's strange they even took this long to start looking into xmr and ALL the other anon based crypto currencies.

Even if the FBI go full on after xmr and other crypto currencies what exactly can they do about it right now ? how can they stop other nationalities using it between themselves?

I mean the mere fact it is anon or privacy based seems enough reason for them to stop it since they already said at those hearings they will never allow these to exist or operate within the US.

This will go for all all privacy based crypto I guess not just xmr

I think so too. Britain already started an initiative to put a .gov boot on encryption.
They could do all about it whatever they want, given their access to each and every major network ASN node on the planet.

[ololajulo]

if the transactions are not connected to child porn, arm's dealership and drugs. There are nothing to worry about.

+ gambling ?

Gambling can't be that grevious. This is what can happen when the anonymity of a coin is more advertised. If FBI find it unsafe it might come under attack by the NSA

[flipme]

Monero promotes itself as a currency for the Darknet, thats what they've put on their flag, small stupid difference here.

have they explicitly stated that? if they have then that's an extraordinarily dumb thing to do. i assumed they used words like 'privacy' and didn't go further.

Sure, thats what the big pump started with, when some Darknet markets announced to accept Monero.
After all, it could just have been one big honeypot.

[European Central Bank]

Sure, thats what the big pump started with, when some Darknet markets announced to accept Monero.
After all, it could just have been one big honeypot.

i meant whether monero themselves were promoting that. i can't imagine they would. they can't really help who makes use of the project.

[Investforprofit]

Somebody really unprofessinal is working with that crytocurrency when that happened.They did not needed to work like that because they could do it with many other ways to stay away from FBI but they did not what is really unprofessional from their leaders.