Statistics like these make chain analysis firms look like your friends. They're not. Here's why:
Statistics showing that the overall use of cryptocurrencies is *not* illicit help us fight FUD. They're also necessary for chain analysis companies to keep existing: no cryptocurrencies, no business model.
The problem arises with how chain analysis firms *calculate* the use of illicit transactions, as this includes the use of privacy technologies.
For example, every transaction involved in a coinjoin is flagged as illicit by chain analysis firms. This completely distorts the overall volume of illicit transactions. The actual volume of illicit transactions (hacked funds, sanctioned entities, etc) is *much lower*.
Privacy is not just a human right, it is also outlined in the US constitution via the 4th amendment, as well as via federal financial privacy regulations.
If you want to have an intellectually honest debate about illicit transaction volume, stop criminalizing privacy.
For context: Every coinjoin/"mixing" transaction is deemed as incompliant by blockchain analysis software by default and therefore "illicit".
L0la L33tz /
npub1mzn…6mak
2024-01-19 13:14:50
Author Public Key
npub1mznweuxrjm423au6gjtlaxmhmjthvv69ru72t335ugyxtygkv3as8q6makPublished at
2024-01-19 13:14:50Event JSON
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"pubkey": "d8a6ecf0c396eaa8f79a4497fe9b77dc977633451f3ca5c634e208659116647b",
"created_at": 1705666490,
"kind": 1,
"tags": [],
"content": "Statistics like these make chain analysis firms look like your friends. They're not. Here's why:\n\nStatistics showing that the overall use of cryptocurrencies is *not* illicit help us fight FUD. They're also necessary for chain analysis companies to keep existing: no cryptocurrencies, no business model. \n\nThe problem arises with how chain analysis firms *calculate* the use of illicit transactions, as this includes the use of privacy technologies.\n\nFor example, every transaction involved in a coinjoin is flagged as illicit by chain analysis firms. This completely distorts the overall volume of illicit transactions. The actual volume of illicit transactions (hacked funds, sanctioned entities, etc) is *much lower*. \n\nPrivacy is not just a human right, it is also outlined in the US constitution via the 4th amendment, as well as via federal financial privacy regulations. \n\nIf you want to have an intellectually honest debate about illicit transaction volume, stop criminalizing privacy.\n\nFor context: Every coinjoin/\"mixing\" transaction is deemed as incompliant by blockchain analysis software by default and therefore \"illicit\". ",
"sig": "39a3c6274e35467619d7345cd2eef2502b29d4171747dbabd5d0180121f2784c8cf5af4277d71f9a8681d33770922ef2c29912df4a77821ed72572b5880bfaf2"
}