Karen Hsu: Cryptocurrency Regulation, Dash vs. Bitcoin Privacy, Crypto Taxes & Blockchain Analysis
I had the distinct pleasure of chatting with Karen Hsu of BlockchainIntel, a company conducting blockchain analysis for the purposes of risk scoring transactions, detecting fraud, and avoiding theft.
BlockchainIntel recently partnered with Dash to assist in analyzing the blockchain for exchanges to be able to accurately assess the risk of accepting certain transactions, potentially opening the door
to new integrations from services previously wary of Dash and its advanced privacy features.
We talked about Bitcoin vs. Dash privacy, and how Bitcoin actually has a higher percentage of usage in darknet markets and whose transactions are more often mixed. We also covered what blockchain
analysis can and can’t do, and the difference between personally identifying individuals and their financial activity and simply watching for movements that can be associated with illicit activity.
Finally, we touched on cryptocurrency tax reporting, and what old-school users can do if they acquired most of their coins prior to having any kind of a reasonable paper trail to prove where they came from.
Watch now:
https://dashnews.org/karen-hsu-cryptocurrency-regulation-dash-vs-bitcoin-privacy-crypto-taxes-blockchain-analysis/Credits : NibiruHybrid
Source : https://bitcointalksearch.org/topic/m.52029292 For those that think Karen Hsu looks familiar, she was previously Chief Revenue Officer with BlockCypher, which Dash also has a partnership with. This is an older article (1st of august) that i overlooked.
-qwizPrivate Bitcoin Transactions Over Double All Privacy-Focused Cryptocurrencies Combined
According to Karen Hsu of BlockchainIntel, Bitcoin remains the most-used cryptocurrency for private transactions, outpacing all major privacy-focused cryptocurrencies combined.
To achieve greater privacy, traditionally relatively transparent Bitcoin transactions are run through mixers/tumblers, such as Wasabi Wallet, an additional third party service not on the Bitcoin blockchain.
According to Hsu, mixed transactions account for around 4% of total Bitcoin transactions:
Read more -
https://dashnews.org/private-bitcoin-transactions-over-double-all-privacy-focused-cryptocurrencies-combined/Credits : NibiruHybrid
Source : https://bitcointalksearch.org/topic/m.52149969 See also this interesting article (which is related to above article) : https://blockonomi.com/ciphertrace-crypto-money-laundering-ending/
-qwiz
Bitcoin’s privacy is considerably inferior to the privacy protections Monero and Zcash make possible, but BTC is still the money of choice in these dark markets. Why? It appears to be because bitcoin
is simply easier to use in these contexts, CipherTrace explained:
“[Our] results show that privacy coins are barely used in dark markets and at dark vendor sites (e.g. only 4% of instances involve Monero (XMR) […]What this suggests is that while privacy coins may seem
like a boon to criminals, drug gangs and terrorists, the barriers to entry for buying and selling Monero and other anonymous tokens makes them impractical for most dark market purchases and ransomware
payments. They are most useful as a payment rail and to obfuscate chain hopping to more liquid tokens.”
Of course, bitcoin mixers can provide users with privacy, but one can safely assume that not everyone on the dark web is resorting to mixers. In that sense, more and more dark web activities are having
their transactions permanently open-sourced on the Bitcoin blockchain.
