FBI to form new digital currency unit as Justice Dept taps new crypto czar

[MarvinTheParanoidAndroid]

I never said anything was a solution, take the tinfoil hat off and maybe realize that when money is involved there really IS no solution, just bandaids, and not once have you said anything to prove my view on this situation with the FBI's involvement wrong.

I have a solution, Monero.

 

[BelUwUga]

Their bill didn't pass and now they decided they will go on ahead and do what the bill was supossed to do anyways?
Man, something tells me privacy coins are about to get really popular now

People who had sophisticated operations and real concerns about feds are already using privacy coins if they use cryptocurrency. This seems more like they have finally put together a streamlined process from what I knew they had been doing for damn near close to a decade now. Unlike a street criminal, what could an isolated online merchant possibly bargain with? What intel could be gathered when they are arrested? Well the only thing would be transaction/customer information. Sure they can assure you they deleted it but do you really think they are going to give up their sole insurance policy when they could just lie? Between that and actual wallet/account access from lucky arrests they started chipping away at the surface. Unlike seasoned criminals the customers are likely just junkies with poor opsec. It's also unlikely they only buy from one vendor/market. They'll roll even faster than the vendors. Regardless of what laundering/tumbling method you contrive, they'll always eventually be able to unravel it given open access to a complete ledger and a steady flow of incoming intel.

I could never think of an efficient but effective way to cash in/out when I was looking into cryptocurrency so I never got into it and never recommended it to people that consulted with me (MtGox was still a reputable exchange at the time). I began thinking I might be right when the people who took the easiest (and obvious) routes ended up with charges. Eventually one of my smarter acquaintances confided in me they had his vendor's financials, analysts, and forensic accountants working his case. At that point I knew anything pseudononymous was fucked because they expend those resources establishing precedent or making tools, not just for low-level charges. With everything gained from the silk road takedown I'd imagine they have quite the impressive toolset now and are looking to effectively setup a clearing house.

 

[Dom Cruise]

You're telling me there's guys who get off on buying pictures of ape heads?