The FBI Wants Zero Privacy Security, Bitcoin Community Should Protect its Freedoms

By September 10, 2016Bitcoin Business

For security agencies like the FBI there is no difference between Bitcoin and Monero regarding their use in the crypto market or the dark web, says Bitcoin Core Developer and Advisor to Coinkite, Peter Todd , to CoinTelegraph. All they want is “zero security systems with zero privacy.” Todd explains: “I will even word that a little differently: these people will only be happy when we have zero privacy security. Good security should give you good privacy – they’re not separate concepts.” European Drug Report 2016 on Bitcoin and Tor Todd’s view comes in the wake of a report by the European Monitoring Centre for Drugs and Drug Addiction saying that the anonymous use of Bitcoin and other cryptocurrencies allows for the purchasing of illegal items such as drugs or weapons. However, the payment may be traced and lead to criminal charges. Thus, a range of strategies are used to hide users’ identities and conceal the physical locations of servers. The report states: “These include anonymisation services such as Tor (The Onion Router) which hide a computer’s IP address when accessing the site; decentralised and relatively untraceable cryptocurrencies, such as Bitcoin and Litecoin, for making payments; and encrypted communication between market participants.” Who is crypto’s bad boy – Bitcoin or Monero? Todd says to CoinTelegraph that the alleged use of Monero in dark web activities did not surprise him as it “definitely has a privacy advantage over Bitcoin.” Compared to Monero, is Bitcoin anonymous to the extent that it could be used on the dark web for illicit drug dealings considering the past experience with, for example, Silk Road? Todd points out that there’s strong evidence that the "dark web" has made the illegal drug industry quite a bit safer by providing mechanisms to enforce contracts and evaluate reputations […]

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