Close connection between Monero (XMR) and criminals from another angle

A large number of analytical firms such as Chainalysis are improving in marking digital treasures related to crime or money laundering, alerting exchanges and preventing conversion into traditional money. But they can do it only on transparent registers like that of Bitcoin. Monero is a completely different beast.

And that is why the narrative of Monero is the tool preferred by criminals that was formed and has spread among the mainstream media and in general.

Monero encrypts the recipient's address on his blockchain and generates fake addresses to obscure the true sender. It also obscures the amount of the transaction.

Riccardo Spagni, core developer of monero, said:

"As a community, we certainly do not defend criminals' use of the monero," Spagni said. "At the same time, if you have a decentralized currency, it's not like you can stop someone from using it." I guess the monero offers huge advantages to criminals over bitcoins, so they use the monero. "

However, an XMR holder has a different view of the intertwined relationship between monero and criminals:

Monero prevents criminals from seeing my finances and targeting me.

Monero prevents the money I get legally from a criminal history

Monero prevents criminals from devaluing my hard earned money for their own income

So yes, monero and criminals are closely intertwined.

The criminals are probably only a fraction of the users of monero, according to Lucas Nuzzi, senior analyst at Digital Asset Research, which provides research to institutional investors.

"As with any disruptive technology, many of the initial use cases revolve around illicit activities," he wrote in an e-mail. But while ordinary people grow up worried about privacy and surveillance, "in these currencies there is utility that goes beyond the mere means of exchanging illicit goods."

As Cryptoinsider writes, the US dollar is the cash currency of choice for criminals around the world. Help the currency maintain its value. Traditional asset investors have this in mind. In which cryptocurrency will criminals turn in the future? Currently, it's ZEC and XMR – and the charts reflect accordingly.

The FBI is worried about Monero

CoinDesk had a story last year about the futile attempts of the FBI to trace the master book.

The monero of digital currency focused on privacy has captured the attention of the Federal Bureau of Investigation (FBI), which has expressed concern about its use among criminals.

Joseph Battaglia, a special agent who works at the FBI's IT division in New York, said during an event last week that the widespread use of increasingly popular cryptocurrency could have an impact on the way the 39; agency conducts investigations.

Addressing a group of about 150 law students from Fordham University in New York, he said:

"There will obviously be problems if some of the hardest to work with cryptocurrencies will become popular." Monero is what comes to mind, where it is not very obvious what the transaction path is or what the actual value of the transaction is except for users finals. "

Regardless of the morality of the sources of adoption, the currencies that have found unique cases of use are coins that are outperforming in general. The state of surveillance and the diversion of privacy are getting out of hand and we can expect more and more monifuctions from the media channels controlled by the government. As long as they do, it shows that the monero works as intended. Protecting your privacy is a right, not a crime!