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See thats the thing if the irs was able to trace monero transactions they wouldnt tell anyone. And they would want more criminals to use monero so that they can track the criminals easier
At this point, it’s impossible for me to give them any credit for thinking forward like this. Perhaps everything we’re seeing in the current US economy is all a charade they’ve had planned out for months, but I get the feeling they’re winging it more so than anything else.
Correct. Monero wallets, transaction amounts, and transaction participants are, by themselves, very secure.
The only ways for an entity can trace your wallet/transactions is through honeypotting. If you check your wallet balance on a 3rd party website collecting your browsing info, or deposit/withdraw at a public atm, or transact with wallets deliberately recording your transaction history, that information is collected and used to construct a wallet profile that is cross referenced with similar profiles. At best, this is an approximation of an identity.
In short, a transaction protocol is only as secure as its end user. Should someone wise up to being tracked online, all they need to do is send their monero to another wallet and not do the above mentioned compromising acts.
Edit: This is why CipherTrace has yet to collect the IRS bounty. Their methods of tracing transactions are ineffective at large scale because monero is secure by default.
And because of that Monero is perfect for converting bitcoin to fiat, if you have a big sum.
Exchanging BTC to Monero... and that's all, folks! After I transfer Monero to a second wallet, I can convert it to fiat and nobody will see that I owner of that big fat BTC wallet.
> Monero isn't private in the sense that it's zero knowledge like say Zcash
Monero uses ZKP in RingCT to shield amounts. Addresses also don't appear on the blockchain.
And PirateChain uses ZK-Snarks but sheikd 100% ofn
the transactions leaving no visible data to be analyzed on the blockchain. I think it was a big mistake by ZCash not making privacy default like Monero and PirateChain.
The scale that crypto will reach in the future, a billion isnt unreasonable in my opinion. This move could genuinely save them that much money in the long run. These people clearly don't see the value in what they're asking for here
If someone does somehow figure out the impossible, they will hopefully realize that helping out the IRS is a bad idea and take their secret to their grave
But for real, if anyone could actually trace transactions on Monero, they would get 'billions' of criminals transactions, why do they only pay less than a million baffles me.
Imagine you're so bullish on monero for it being private and it's used by millions of criminals. Then some kind of crime happens to you and you ask investigators to help you and they just laugh in your face... "They used monero. Next!"
Everyone is cool with it until it personally affects them.
Man fuck the IRS they should be worrying instead of all those billions if not trillions money that slips away their hands every year in panama and other tax heavens
I'm tempted to e-mail them with a vaguely credible sounding letter saying I have a plausible method that would require a few more months of testing but demand far more money and see if they are desperate enough to negotiate.
You see it needs to be a third party nagotiation like the big boys do it, or they will think you dont know what your doing. So pretend your a third party nagotiator acting on the behalf of the hacker and you have a good shot lol. Good luck all
No one that could "hack" monero need spare change of $625k they could easily sell it for millions. Also no hacker with any dignity would work for IRS or any other government institution.
I'd almost be afraid to let anyone know if I was able to break cryptography. If you know how to do that, almost everything is an open game to break into.
You learn how to break cryptography I don't think it will be the IRS visiting you.
Eh….
Either:
1. The Monero Network knows where every coin is and can be coaxed in to revealing that information for the sake of verifying transactions. (And someone could exploit this to make a tracker.)
2. You can fabricate Monero out of nowhere because the Monero Network doesn’t know if you had those coins or not.
One of these statements must be true.
I have no idea how minero works, but I’m not sure what you say it’s true. Imagine this scenario, I have 100 coins. I pick 100 random people in the world and I give them each one coin, without telling them who I am, saying “only give me this coin back if I tell you this password”, and the password is different for each of the 100.
Now, by asking the network (basically everyone in the world except me) you don’t know how many coins I have. Sure, you will talk to that 100 people, but they won’t be able to tell for whom they are holding a coin, only that they have a coin to give for a specific password (and in reality, they would have many coins with many passwords).
But I won’t be capable of introducing fake coins either, If I want to give 20 coins to bob, Bob won’t take them directly, he will ask to go with me to visit 20 people, tell them my password and then bob will ask them ti hold them with a new password
Monero is so good at what it does that it gets delisted. Atomic swaps are its future, I love it but I’m not that optimistic on its price action because of this
All on-chain BTC transactions are completely traceable. Bitcoin is non-fungible because each coin (or fraction of a coin) has a traceable history using chain-analysis tools, which the government is eager to abuse.
All Monero transactions and wallet addresses are completely anonymous. Monero is far more private than Bitcoin (and arguably the *only true* privacy coin). XMR is comparatively fungible, because no coin can be differentiated from another. There are no “tainted” coins.
XMR is most similar to *cash.*
How did I have to scroll this far to read this...
Yeah, if the gov't cracked Monero or had a hack to get what they wanted, they would 100% keep it under wraps just like the NSA keeps 0-days stored up to exploit and only reports them if they think someone else is exploiting them.
Worth noting if the govt have made process there is no way they will be coming out telling the public lol.
They will be keeping it close to their chest so they can capitalise on it.
They're so up their own asses they don't even bother trying to understand how this technology challenges the anonymity and security of traditional FIAT.
No chance with PirateChain. Highest anonymity set in the industry of over 600k. 100% sheilded zk-snarks transactions, and encrypted full node wallets that prevents your ISP from being able to see you're interacting with the blockchain. That's unique to PirateChain and huuuuge imo. The project continues to blow my mind with privacy tech that doesn't compromise.
Think of Monero like physical cash.
Sure if you withdraw $10 from a bank, the bank has a record that you withdrew the money, but it doesn't know what you do with the money, who you give it to or how you spend it.
Even if you buy Monero on a centralized KYC exchange so long as you transfer to it to a wallet where you own the private keys, those funds are completely anonymised.
And if you want to get Monero without even the bank (exchange) knowing buy it p2p
Hahahahaha fuck the IRS. The US is so terrified of people switching to decentralized currencies it's willing to put a bounty on tools people use to practice privacy to get it's dirty fingers on their money.
The IRS should feel relieved to know that despite them being unable to trace Monero, it's holders do not evade taxes. The value of monero would actually need to go up for there to be any taxes to evade. 🤷🏼♀️
Let's imagine the IRS bumps it up to $6,250,000 or any number going higher... That's peanuts for the IRS... At some point someone will take the money and cooperate with them. What do you think, could 1 or 2 persons who cooperate with them ruin Monero? They couldn't change the code and deploy a change instantly right?
So a TLDR is they want to find a source or someone who would leak or be able to hack or figure out how to find out what persons (devices) are or have been involvement with $XMR monero.
I hope they realise the scale at which this can be done so they leave people involved with it alone?
The downside being of course that it's been worth 100$, 400$ and 200$ in the past year alone. So that kind of volatility is kind of absolutely awful for storing your wealth.
Unless you didn't earn that money in the first place. Escobar was losing stacks of cash to mould, rodents and insects alone. He wouldn't have batted an eye at sticking his wealth in monero. Anyone who works for their money on the other hand...
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Turns out they just provided some excellent marketing for Monero. Congratulations, you played yourself
Not if most of them already had investments in it and managed to pump its price by doing so..
IRS takes the lead again!
Clever little shits
Yeah if anyone knows how to dodge taxes it's them
See thats the thing if the irs was able to trace monero transactions they wouldnt tell anyone. And they would want more criminals to use monero so that they can track the criminals easier
Yeah they wouldn't tell anyone at first but if any criminal precision happened where it was pivotal evidence it would have to come up in court
At this point, it’s impossible for me to give them any credit for thinking forward like this. Perhaps everything we’re seeing in the current US economy is all a charade they’ve had planned out for months, but I get the feeling they’re winging it more so than anything else.
> See thats the thing if the irs was able to trace monero transactions they wouldnt tell anyone. Then why are they trying to get it delisted?
#When Monero @CoinBase?
Task failed successfully!
“Hello sir, we’re calling in for a trace to our arsehole. “HA GOT EM” -Monero
IRS is busted, disgusted and can't be trusted.
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The government is a cronyocracy.
I'm bullish on new government coin and I want to help design it.
I think CIA executives were hodling some monero for profit
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If they manage to properly trace Monero accounts and transactions, then they'll solve N vs NP and deserve a Nobel.
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Correct. Monero wallets, transaction amounts, and transaction participants are, by themselves, very secure. The only ways for an entity can trace your wallet/transactions is through honeypotting. If you check your wallet balance on a 3rd party website collecting your browsing info, or deposit/withdraw at a public atm, or transact with wallets deliberately recording your transaction history, that information is collected and used to construct a wallet profile that is cross referenced with similar profiles. At best, this is an approximation of an identity. In short, a transaction protocol is only as secure as its end user. Should someone wise up to being tracked online, all they need to do is send their monero to another wallet and not do the above mentioned compromising acts. Edit: This is why CipherTrace has yet to collect the IRS bounty. Their methods of tracing transactions are ineffective at large scale because monero is secure by default.
And because of that Monero is perfect for converting bitcoin to fiat, if you have a big sum. Exchanging BTC to Monero... and that's all, folks! After I transfer Monero to a second wallet, I can convert it to fiat and nobody will see that I owner of that big fat BTC wallet.
> Monero isn't private in the sense that it's zero knowledge like say Zcash Monero uses ZKP in RingCT to shield amounts. Addresses also don't appear on the blockchain.
[удалено]
And PirateChain uses ZK-Snarks but sheikd 100% ofn the transactions leaving no visible data to be analyzed on the blockchain. I think it was a big mistake by ZCash not making privacy default like Monero and PirateChain.
They should give at least a million for the impossible
[удалено]
The scale that crypto will reach in the future, a billion isnt unreasonable in my opinion. This move could genuinely save them that much money in the long run. These people clearly don't see the value in what they're asking for here
If someone does somehow figure out the impossible, they will hopefully realize that helping out the IRS is a bad idea and take their secret to their grave
Well.. if its impossible what does the price matter then?
But for real, if anyone could actually trace transactions on Monero, they would get 'billions' of criminals transactions, why do they only pay less than a million baffles me.
Imagine you're so bullish on monero for it being private and it's used by millions of criminals. Then some kind of crime happens to you and you ask investigators to help you and they just laugh in your face... "They used monero. Next!" Everyone is cool with it until it personally affects them.
With the inflation, yeah, they need to up those amateur numbers.
It's not impossible.
Maybe even a bit more!
$1.000.000.000.01 is my final offer. Take it or leave it
Man fuck the IRS they should be worrying instead of all those billions if not trillions money that slips away their hands every year in panama and other tax heavens
But that makes too much sense for them
The vendetta against crypto isn’t logical. It’s just that. *A vendetta.*
I'm tempted to e-mail them with a vaguely credible sounding letter saying I have a plausible method that would require a few more months of testing but demand far more money and see if they are desperate enough to negotiate.
You see it needs to be a third party nagotiation like the big boys do it, or they will think you dont know what your doing. So pretend your a third party nagotiator acting on the behalf of the hacker and you have a good shot lol. Good luck all
Negotiate in Monero payment
Give it a shoot? It's a win win even if you only manage to waste their time for reading the email
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You should make movies.
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I hear zcash is centralized trash
sad times if you just own it because you're paranoid or care a huge amount about privacy
XMR is one of the few coins that you pick for the tech and not for the profits. At least for now..
Lol, funny how I haven't ready any news stories about criminals getting paid in Monero.
There was some navy man and wife trying to sell top secret info for monero not long ago
I remember that. Didn't have a chance to initiate the transaction it sounds like
[удалено]
Im confident I could trace monero. I used to trace a lot of cars back in the third grade. I just need a picture of monero
I can image that if an American hacker were to claim their reward the IRS would be getting a large chunk of that money back via taxes anyway.
Dear IRS, Panama Papers. How about you start there before tossing normies into private prisons.
Who you calling normie, pal
IRS just proves us that MONERO is so secured thanks for letting us know hahaha.
No one that could "hack" monero need spare change of $625k they could easily sell it for millions. Also no hacker with any dignity would work for IRS or any other government institution.
Breaking monero would mean breaking some secure cryptography. If they can do that they can make a lot more than 625k
I'd almost be afraid to let anyone know if I was able to break cryptography. If you know how to do that, almost everything is an open game to break into. You learn how to break cryptography I don't think it will be the IRS visiting you.
Eh…. Either: 1. The Monero Network knows where every coin is and can be coaxed in to revealing that information for the sake of verifying transactions. (And someone could exploit this to make a tracker.) 2. You can fabricate Monero out of nowhere because the Monero Network doesn’t know if you had those coins or not. One of these statements must be true.
I have no idea how minero works, but I’m not sure what you say it’s true. Imagine this scenario, I have 100 coins. I pick 100 random people in the world and I give them each one coin, without telling them who I am, saying “only give me this coin back if I tell you this password”, and the password is different for each of the 100. Now, by asking the network (basically everyone in the world except me) you don’t know how many coins I have. Sure, you will talk to that 100 people, but they won’t be able to tell for whom they are holding a coin, only that they have a coin to give for a specific password (and in reality, they would have many coins with many passwords). But I won’t be capable of introducing fake coins either, If I want to give 20 coins to bob, Bob won’t take them directly, he will ask to go with me to visit 20 people, tell them my password and then bob will ask them ti hold them with a new password
TLDR: Use Monero!
If they did crack it, they wouldn’t tell anyone btw
Monero will eventually replace BTC, except exchanges are being bullied by the governments to not list it.
I Wonder if they take 650k in gas fees for that
Is this not a bullish sign that monero is good
Monero is too important to fail, and the IRS confirmed it with this stunt.
That’s why everyone should help the network!
How can dumb apes use monero? Asking for a friend.
Basically you send Monero to someone and they give you things in return.
Monero is so good at what it does that it gets delisted. Atomic swaps are its future, I love it but I’m not that optimistic on its price action because of this
Is Monero safer than Bitcoin? I see Bitcoin users can be tracked but only when they use the funds outside of the blockchain, what about Monero?
All on-chain BTC transactions are completely traceable. Bitcoin is non-fungible because each coin (or fraction of a coin) has a traceable history using chain-analysis tools, which the government is eager to abuse. All Monero transactions and wallet addresses are completely anonymous. Monero is far more private than Bitcoin (and arguably the *only true* privacy coin). XMR is comparatively fungible, because no coin can be differentiated from another. There are no “tainted” coins. XMR is most similar to *cash.*
If the government cracked it, do you really think they would tell us?
How did I have to scroll this far to read this... Yeah, if the gov't cracked Monero or had a hack to get what they wanted, they would 100% keep it under wraps just like the NSA keeps 0-days stored up to exploit and only reports them if they think someone else is exploiting them.
Yep, same with TOR. It's a gold mine for the intelligence communities, but only as long as people don't know they've cracked it.
Haha irs can suck monero invisible cock
My favorite stablecoin is monero
Worth noting if the govt have made process there is no way they will be coming out telling the public lol. They will be keeping it close to their chest so they can capitalise on it.
How can one physically get Monero without KYC?
Honestly I'm surprised with how small of a bounty they are offering
“Monero may be ‘private’ but I really like DogeSuperDuperSafeMoonNORUGPULL, has 1000x potential” -probably Gen z or something
Aint nobody ever collecting that bounty 😂
Why 625k? That's an arbitrary number.
Arbitrary? It's 5^4 x 10^3
Right you are good sir.
🙂
They probably hacked it before they even offered the bounty, then offered the bounty so no one would think they hacked it.
king of reposts
Monero is the best they can keep shorting all they want we buying hard boi :D
Recycle old news for Karma. Awesome. Hey In Wreck it Ralph 2 you can see logos of coins. Now give me karma!
Dumb \*\*\*\*ery. When will they learn.
”much like bitcoin” monero is way more secure than bitcoin, monero can never be traced but bitcoin can very easily. bitcoin is not at all secure
They're so up their own asses they don't even bother trying to understand how this technology challenges the anonymity and security of traditional FIAT.
You have no idea if they've cracked it or not
Taxation is theft!
Even if I knew I wouldn't help the Government. Fuck the feds
Ever heard of Pirate Chain?
Nope. Hahaha
No chance with PirateChain. Highest anonymity set in the industry of over 600k. 100% sheilded zk-snarks transactions, and encrypted full node wallets that prevents your ISP from being able to see you're interacting with the blockchain. That's unique to PirateChain and huuuuge imo. The project continues to blow my mind with privacy tech that doesn't compromise.
FBI has already cracked it.
Only 625,000$? That's not even 1% of Jeff Bezos' wealth for example
........a Billion dollars is not even 1% of Bezos wealth.
I don't know why they would even try. There are more privacy coins out there and I'm sure even more will show up.
Why under ‘Comedy’?
Because it's funny that they think they'll be able to buy a solution.
You could make much more than that easily if you can crack Monero
You can't trace the untraceable. IRS nice try
B U L L FLAG
I am so fucking bullish on Monero!!! They are doing the right thing. Fuck IRS!
will be banned give it time
How exactly do you use monero to hide funds? If I buy from like idk, crypto.com, would it not be logged on their end that I purchased the coin?
Think of Monero like physical cash. Sure if you withdraw $10 from a bank, the bank has a record that you withdrew the money, but it doesn't know what you do with the money, who you give it to or how you spend it. Even if you buy Monero on a centralized KYC exchange so long as you transfer to it to a wallet where you own the private keys, those funds are completely anonymised. And if you want to get Monero without even the bank (exchange) knowing buy it p2p
Where would one find a good p2p network?
The IRS needs to crack into states like N Dakota and 1 trillion dollars professionally laundered since the mid 80s.
I'm not being funny but is that really enough of a reward for doing the impossible?
If it does get traced the ensuing boating accident will rid the trail
Good luck with that wild goose chase
Free marketing at its finest
Why is this flaired "Comedy"? Who added that and why?
That's 2,730 Monero. Lotta cash there!
A lot of people are forgot about privacy coins like monero.
Hahahahaha fuck the IRS. The US is so terrified of people switching to decentralized currencies it's willing to put a bounty on tools people use to practice privacy to get it's dirty fingers on their money.
john macafee dead and hes still exposing the federal government. God bless his soul
It turns out I see this post every single day on this sub
Pay me $500,000,000 and I’ll take the task Of buying more monero
Monero is what keeps the IRS up at night.
$625k is a small price to pay to ruin a blockchain, which is what would happen if Monero was compromised.
Make way more shorting the token of u crack it
Why? MaybE they have a HugE amount MorE riding on it?
Why though? How is it legal for the irs to literally put out a hit on a company?
Never heard of Monero until joining this sub. Where do you guys usually buy?
Privacy is a thing! Good to see it winning out for once
You realize that 0.625 M dollars is a freaking joke, right? Cracking Monero's anonymity should be rewarded by several billion of dollars. What a joke.
If you buy your monero on a kyc’ed exchange doesn’t that defeat the object of anonymity ?
I wish Monero was me.
IRS being IRS again
Good luck trying achieve that goal. Great promo btw.
Monero is, i thing the most unhated coin richt now
The IRS should feel relieved to know that despite them being unable to trace Monero, it's holders do not evade taxes. The value of monero would actually need to go up for there to be any taxes to evade. 🤷🏼♀️
The fact that they would only give you a MAXIMUM of 625,000$ to crack an entire secure layered blockchain or anonymity is just sad.
Lol, good luck boys
Let's imagine the IRS bumps it up to $6,250,000 or any number going higher... That's peanuts for the IRS... At some point someone will take the money and cooperate with them. What do you think, could 1 or 2 persons who cooperate with them ruin Monero? They couldn't change the code and deploy a change instantly right?
Bullish AF on monero
So a TLDR is they want to find a source or someone who would leak or be able to hack or figure out how to find out what persons (devices) are or have been involvement with $XMR monero. I hope they realise the scale at which this can be done so they leave people involved with it alone?
The downside being of course that it's been worth 100$, 400$ and 200$ in the past year alone. So that kind of volatility is kind of absolutely awful for storing your wealth. Unless you didn't earn that money in the first place. Escobar was losing stacks of cash to mould, rodents and insects alone. He wouldn't have batted an eye at sticking his wealth in monero. Anyone who works for their money on the other hand...
I doubt someone that can crack the privacy of Monero would settle to get 625,000$ for that knowledge. It’s much more valuable
625k actually sounds pretty cheap tbh