Monero under scrutiny of the FBI

[smoothie]

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.

Proof?

And who is "Monero"?

What company is in charge of Monero? Who is its CEO?

Promoted? Where?

[flipme]

All cryptocurrencies are under the scrutiny of the FBI--it's the FBI's job to monitor darkmarkets, tax evasion, and the like--it's the fact that the  FBI is worried about Monero that is the point of the article.

The FBI is singling Monero out for the very fact that its special properties put it on the same footing as two of the oldest and most trusted coins used for illicit activities--this is what cash is supposed to do, this is what capitalism is supposed to do. Good money does bad things. You will never see Washington wince when he's used to buy crack, you will never see him yawn when you buy the morning paper, and you will certainly never see him cheer when you buy an ounce of your grandmother's illicit cataract medication. Good money does bad things, period.

Those people fretting and hand waving do not see (or likely choose to ignore) that real freedom is tied to private money--good money capable of exerting its holders free will at any moment, at any time. Those that say big government has already won,  have already lost the will to fight, to do what's right in the face of impossible odds, to be vigorous freemen in a time apathetic slavery. At the end of the day, every man and woman's choice is simple, to be a slave or a master--if you are waiting for the powers that be to validate your investment, you have made your last free choice and will gladly take what's handed to you--and though I will feel pity for you, and can even emphasize with the conditions of your slavery, I will never sympathize with the conditions of your failure to break free and set a new course for humanity in this dark time of surveillance states.  If you are waiting for an authority to take you by the hand and lead you greener pastures, you will be continually disappointed that greenest pastures, the choicest venues, the sparkling rivers, the places you always wished you could be, are reserved for those you follow.

The digital world before us is as vast as our imaginations, a land beyond the scope of any nation, no matter how powerful they may seem in the confines of their physical state--they are limited by nature's bounds, constructs of hierarchal determinism, incapable of pondering virtual states of each man his own, each woman her own--it is not by accident that the final battlefield is our imaginations, and the quickness in which some give over their ultimate freedom matches the long drawn out physical history of rule or be ruled, and then the cataclysm of the wisdom that asserts--I have only myself to rule or be ruled.

Hard to say what you mean by that. Best bet is that you haven't been busted, yet. But that may change, because "Good private money capable of exerting its holders free will at any moment" is usually kept in best possible secret and the owners usually don't go bragging about their fortunes, promoting their illicit activities almost every day on public forums. I can't even see how that would help the general cause you're addressing.

Its a common issue with criminals. After they got away with their trickery for so long they feel entitled to that outcome, and are utterly astonished when "the law" comes knocking on their doors.

I bolded the important part for you. You claim not to know what I mean, and then assert that I have used Monero for criminal purposes--your mistake. My point is that good money (like cash and Monero) is indifferent to whether you use it for legal or illegal activities, but only needs to be fungible to allow you the choice.

In the case of Monero, it has been promoted as a better replacement for Bitcoin for mostly criminal purposes, and its success is bound to that fact. Fungibility is just a pretext, all criminals have them.

Fungibility is a property--all technologies have them.

Really? And now you want to claim in all seriousness that Monero's success was due to it being fungible, or what?
Go ahead man, take another hit from your crack pipe and try again.

You're not arguing my point, you are intimating that Monero's success is due to darkmarkets, which may or may not be true. My point is that good money has to be fungible and fungibility is a property--in this case a technological property of Monero. Do you disagree that fungibility is a technological property? Are you arguing that Monero is only used illicit activities? Those are points I can argue, the rest is hand wavy moralizing and faulty assertions on your part.

I'm not arguing because there is nothing to argue. Every other shitcoin is fungible, until it isn't anymore.
Once your coin is dead and some of you're in jail, it will be as fungible as my grandmas undies.

[flipme]

It wouldn't even take a big case and all that.
If the FBI would give a recommendation to ban it from complying exchanges, a simple memo from the CFTC would be enough to enforce it.
If POLO and all other US exchanges would have to take it down, what do you think would happen to your beloved coin?

[generalizethis]

It wouldn't even take a big case and all that.
If the FBI would give a recommendation to ban it from complying exchanges, a simple memo from the CFTC would be enough to enforce it.
If POLO and all other US exchanges would have to take it down, what do you think would happen to your beloved coin?

Could legitimize it as THE darknet coin. Also, are you banning Monero or all the cryptonote coins? All future variants? On what grounds? Wouldn't this effect ALL cryptocurrencies as Monero has a viewkey available and is easy for voluntary compliance?

[flipme]

It wouldn't even take a big case and all that.
If the FBI would give a recommendation to ban it from complying exchanges, a simple memo from the CFTC would be enough to enforce it.
If POLO and all other US exchanges would have to take it down, what do you think would happen to your beloved coin?

Could legitimize it as THE darknet coin. Also, are you banning Monero or all the cryptonote coins? All future variants? On what grounds? Wouldn't this effect ALL cryptocurrencies as Monero has a viewkey available and is easy for voluntary compliance?

Of course, you could even choose to rebrand it to "Darkcoin" then, I think the name just became available.

[adhitthana]

I'm surprised the price hasn't moved

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

Nah...but markets have a tendency to over react, that's all.

[Spoetnik]

Oh the butthurt in this thread.

I guess if the FBI thinks it is something they need to pay attention to, that would then legitimize the technology behind Monero eh?

Looks like Dash/ZCASH ain't much of a worry for the FBI it would appear.

A true fucking Crypto Classic Retort™®

You shill's have a very VERY small playbook.  
I *DO* believe i heard this one before.. hahhahahhahahahha ahhahaha hahahah hahahahahhahaha

   
[SEC] Ponzi schemes Using virtual Currencies


Oh and.. Spoetnik warned you all - he's sicking the SEC on your ass now
Which links to..
https://www.cryptocoinsnews.com/sec-sends-inquiry-letters-hundreds-bitcoin-companies-unregistered-securities/

..which means hundreds of Bitcoin companies are NOW legit.  

Come up with new material clowns.. butthurt ? ROFL'z  

[cengsuwuei]

why FBI investigate monero coin, i think only operate in USA , and use fiat money in operational FBI can investigate
and iam not understand why FBI investigate monero, founder monero not from USA, server not from USA, USA people not lost money about monero

[Spoetnik]

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.

Proof?

And who is "Monero"?

What company is in charge of Monero? Who is its CEO?

Promoted? Where?

i dunno who has the Github password ?

@cengsuwuei
Dark Market activity is a problem in the USA.
I read about a story where a guy was arrested via Bitcoin + Alpha Bay selling Fentanyl through the mail.
And in case you did not know my country Canada is having a massive severe epidemic with SHIT LOADS of people dying from it and ..Carfentenyl.

Simply coming into contact with a couple grains of Carfentenyl can kill an adult !
Now imagine that flowing through the US or CAN postal service and a package rips open killing a mail man..
Or some teen buys some with Monero then dies..

Imagine the tax payer bill when a call is made and they have to show up with hazmat suits like a nuclear waste spill happened. <-- this has happened in the News with Fentanyl lots before.

You think these sleazy greedy losers care about small children being exploited for child pornography on Dark Markets ?
If they did why were they running around this forum bragging about how Monero is now used on Alpha Bay ?

You think these greedy little fucking Investards care that they are providing a platform for Terrorist funding to attack US citizens ?
Kids dying from Drug overdoses ?
Of course not.. they simply rail on defending their criminal bullshit.

Monero - The Criminal Coin™

Brought to you by rpietila / Risto with his Silver tea pot collection and pink Bentley and Castle.

[TaunSew]

I cannot see this ending well for alternates.  HitBTC and Poloniex are so deep into Monero, where unless they start covering their ass now, then we're looking at international raids and confiscation of coins like the Silkroad.   It will be a very red week and many alternates would see 5%-10% of their total supply confiscated as evidence (and presumably later sold at some auction).  There is a remote possibility, much like Bitcoin right after Silkroad, that the liquidity being seized could result in skyrocketing prices.

[NeuroticFish]

I cannot see this ending well for alternates.  HitBTC and Poloniex are so deep into Monero, where unless they start covering their ass now, then we're looking at international raids and confiscation of coins like the Silkroad.   It will be a very red week and many alternates would see 5%-10% of their total supply confiscated as evidence (and presumably later sold at some auction).  There is a remote possibility, much like Bitcoin right after Silkroad, that the liquidity being seized could result in skyrocketing prices.

Actually Polo and others have the same "problem" as any exchange which converts USD or EUR to local currency: none, no problem at all.
They don't know where your money came from, but they ask for your ID. Polo does the same. Both follow the rules.

I don't think that the authorities will confiscate anything, at least not from Polo. But the price may rise because the rules may get enforced better or made more strict and the ones that want to buy anon coins for illegal stuff may buy more "just in case".

[smoothie]

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.

Proof?

And who is "Monero"?

What company is in charge of Monero? Who is its CEO?

Promoted? Where?

i dunno who has the Github password ?

@cengsuwuei
Dark Market activity is a problem in the USA.
I read about a story where a guy was arrested via Bitcoin + Alpha Bay selling Fentanyl through the mail.
And in case you did not know my country Canada is having a massive severe epidemic with SHIT LOADS of people dying from it and ..Carfentenyl.

Simply coming into contact with a couple grains of Carfentenyl can kill an adult !
Now imagine that flowing through the US or CAN postal service and a package rips open killing a mail man..
Or some teen buys some with Monero then dies..

Imagine the tax payer bill when a call is made and they have to show up with hazmat suits like a nuclear waste spill happened. <-- this has happened in the News with Fentanyl lots before.

You think these sleazy greedy losers care about small children being exploited for child pornography on Dark Markets ?
If they did why were they running around this forum bragging about how Monero is now used on Alpha Bay ?

You think these greedy little fucking Investards care that they are providing a platform for Terrorist funding to attack US citizens ?
Kids dying from Drug overdoses ?
Of course not.. they simply rail on defending their criminal bullshit.

Monero - The Criminal Coin™

Brought to you by rpietila / Risto with his Silver tea pot collection and pink Bentley and Castle.

Everything you pretty much claim is done in fiat. All of those criminal activities are done in fiat trash. Moot point.

Do I condone illegal activities? No.

Do I condone financial privacy? Yes.

If you don't like privacy please remove all your doors, curtains, and passwords to all of your accounts. Always take a shit in a glass house where everyone can see you OH and...Also post your bank statements on the internet so we can all them.

Having the github password doesn't really mean anything. Monero was created initially by ThankfulForToday. Much like bitcoin if Satoshi were around he probably would have been taken into custody or questioned.

Do you see the FBI going after the people who hold Bitcoin's github password?

Once again, moot point.

Try again.

[smoothie]

I cannot see this ending well for alternates.  HitBTC and Poloniex are so deep into Monero, where unless they start covering their ass now, then we're looking at international raids and confiscation of coins like the Silkroad.   It will be a very red week and many alternates would see 5%-10% of their total supply confiscated as evidence (and presumably later sold at some auction).  There is a remote possibility, much like Bitcoin right after Silkroad, that the liquidity being seized could result in skyrocketing prices.

Confiscating privacy coins would probably not net much information or evidence for the regulators. But you make a good point. Polo is a single point of failure. Hint Hint...Bitsquare.io

[_nur]

up next Zcash...

[obit33]

The only conclusion here:

If you're still using BTC on DNM's you might as well go to the FEDS and just admit to everything you have bought/sold over there... If they are worrying about xmr now, it means they don't care about btc (as much) anymore, reason: they can see the whole transaction-history in btc... They couldn't have dreamt such a nice transparant system to monitor criminalised behaviours...

[Blawpaw]

I actually believe XMR could be a Bitcoin killer. Monero has solved all main Bitcoin limitations and that's why it doing great in the Markets. It will possibly overcome bitcoin in the future

[iamnotback]

Monero has solved all main Bitcoin limitations...

Technically incorrect. And I debated @ArticMine (et al) and explained why in the past.

I am not going to repeat that now. But at the appropriate time, this will be explained in great detail on my future altcoin's whitepaper and website. So there can be a permanent place for newbies to go to be educated.

[Febo]

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.

No one promotes Monero at all. Not like this not like soemthing else. Day traders promote their bags on this forum and on Poloniex trolbox. Shill when full and FUD when empty. That is what happens.

Monero is used where it is. That is why it is here. That is why we have money to be used. A tiny part of darkmarkets use Monero. Most there still use Bitcoin or whatever they use. Law enforcers will use analytic tools to track those that do things against the law more. So on my opinion BTC will be use less and less on Darkmarkets.

[superresistant]

 
So cool ! The feds must be watching us 

Hello feds ! 

[electronicash]

So cool ! The feds must be watching us 

Hello feds ! 

and probably want to also invest to monero?
this exposure will actually make monero more known to people in the darknet. i'm not from darknet myself buy i've bought monero weeks ago when it drop because of some serious issues lately.