So while it's completely traceable in theory, in practice it's vaguely akin to trying to track money by the serial numbers in that you can probably figure out a few points in a dollar's lifetime, but tracing it point by point to a specific entity is generally not realistic. Of course most criminals are stupid and doing something like using CoinBase hosted crypto to try to do something illicit is as good as leaving your license and phone number at the scene of a crime.
I STILL encounter people that get this confused.
Ethereum has entered the chat
It took them until 2014 to read the satoshi white paper?
First they had to learn how to read…
I haven't kept up with developments though. What are best privacy coins these days. ZCash seems to be the institutional favourite while Monero hasn't moved much.
All you have to do is make a single transaction using all of them. You will receive a freshly minted UTXO. Each bitcoin block involves burning a set of UTXO and then minting a new set of clean UTXO.
In this scenario, is the first output UTXO of the transaction tainted? The second? The miner's reward UTXO? Someone else's output UTXO?
Institutional pumps and dumps are exactly the thing to steer clear of, and Monero is fortunate to not have become a huge victim of them. Monero has seen more organic growth.
This seems awkwardly unnecessary for a technology that has only prioritized deflationary economics and economic sovereignty through private key encryption.
Ms-J•2h ago
Monero also complicates any type of investigation much more than Bitcoin. It is very hard for investigators. They also don't want to burn techniques unless the case is absolutely massive.
Also make sure to never use an exchange that forces KYC.
rajamaka•2h ago
Ms-J•1h ago
Fees may be higher is a note.
chistev•1h ago
cheschire•2h ago
idiotsecant•2h ago
SchemaLoad•1h ago
metadat•1h ago
Seriously though, the days of easy tax avoidance are long gone at this point. Welcome to The Matrix of America.. and China.
Ms-J•1h ago
With an imagination and taking proper anonymity safeguards, the possibilities are endless.
solumunus•1h ago
wmf•46m ago
arctanJimmy•1h ago
Make no mistake, this is not coincidence. It's hard because non auditable financial transactions would undermine the fiat issuers authority.