5 ms·

Now we just need someone to take some coins from Tornado Cash and send them to top 10,000 or something active crypto addresses like one CoinBase / Binance / etc

by SXX 4y ago

Now we just need someone to take some coins from Tornado Cash and send them to top 10,000 or something active crypto addresses like one CoinBase / Binance / etc using... It would be interesting to see what U.S. Treasury will do.

Ekaros 4y ago
I was just wondering same, why not now run them through the major defi products? See the market reaction for fun.
- SXX 4y ago
  This will happen sooner or later so this attempt looks totally unenforceable.
zaphar 4y ago
Coinbase just hands the coins over to the Treasury and problem solved.
- SXX 4y ago
  Coinbase could do it, but if someone sent these "bad" coins to your personal address? Let's say if you're major NFT owner or if you're collecting money for your non-profit via crypto. What I saying is that just for $10,000-100,000 you can literally taint 90% of crypto ecosystem.
  - notch656a 4y ago
    It wouldn't surprise me if 90% of the crypto with any velocity is already "tainted" TBH. It would be easy to "pepper" everyone's addresses with small (in BTC vernacular satoshi sized) amounts of "tainted" currency, subverting the whole system.
    - SXX 4y ago
      I guess US Treasure not going to be after every satoshi, but large transactions. So it's just gonna make usage of mixers more expensive for huge amounts of crypto as you'll need to split it to small transactions and pay more fees. Also fact that every coin is tainted is a good reason to demand absolutely all data possible from CoinBase and other companies.
  - 8note 4y ago
    What's stopping the non-profit from handing those coins over to the treasury? Not being able to decline a transaction is a design flaw for crypto. This will push people towards fixing it
    - SXX 4y ago
      It's could cost you more to send coins away than amount you received. Also you can always receive coins from some other not-yet-illegal mixer that will poison your coins later on. So there are a lot of reasons why this will be used against random people.

by SXX 4y ago

Ekaros 4y ago

I was just wondering same, why not now run them through the major defi products? See the market reaction for fun.

SXX 4y ago
This will happen sooner or later so this attempt looks totally unenforceable.

zaphar 4y ago

Coinbase just hands the coins over to the Treasury and problem solved.

SXX 4y ago
Coinbase could do it, but if someone sent these "bad" coins to your personal address? Let's say if you're major NFT owner or if you're collecting money for your non-profit via crypto. What I saying is that just for $10,000-100,000 you can literally taint 90% of crypto ecosystem.
- notch656a 4y ago
  It wouldn't surprise me if 90% of the crypto with any velocity is already "tainted" TBH. It would be easy to "pepper" everyone's addresses with small (in BTC vernacular satoshi sized) amounts of "tainted" currency, subverting the whole system.
  - SXX 4y ago
    I guess US Treasure not going to be after every satoshi, but large transactions. So it's just gonna make usage of mixers more expensive for huge amounts of crypto as you'll need to split it to small transactions and pay more fees. Also fact that every coin is tainted is a good reason to demand absolutely all data possible from CoinBase and other companies.
- 8note 4y ago
  What's stopping the non-profit from handing those coins over to the treasury? Not being able to decline a transaction is a design flaw for crypto. This will push people towards fixing it
  - SXX 4y ago
    It's could cost you more to send coins away than amount you received. Also you can always receive coins from some other not-yet-illegal mixer that will poison your coins later on. So there are a lot of reasons why this will be used against random people.