Russian tool will make your transactions transparent

Kakmakr

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You should only be worried, if you participated in illicit activities on the Internet .....right? ...Nope.. the Pseudo anonymity in Bitcoin is very important, because it protects people's financial data. (If all transactions can be linked and traced to individuals... then we are all in trouble)

Imagine if all cash transactions could be traced to the individual that used it... and also where it originated from... eg. (Your Bank account) ..then criminals will pick the juicy (rich) targets and they will exploit them. (The same goes for the Fiat system.. if criminals had access to everyone's Bank accounts... lot of people would have been hurt for these people to get to their wealth.) Angry

pawanjain

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Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

According to Cointelegraph developers from Lebedev Physical Institute have successfully developed a prototype of new crypto analytics system called "Transparent Blockchain".

They claim this system effectively uses artificial intelligence to reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

In essense, the system enables blockchain analysts "to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets".

What do you think? Should we be worried?

Worried for what ? If you are worried about your anonymity and you think that this system will compromise your privacy then you should not be worried because it is still not proven to identify any person's identity yet and besides that we don't even know if this project is legit.
We know how many projects have used the term artificial intelligence just to gain the attention of investors.
It's far from reality yet and so we do not have to worry about it yet.

katiepower

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Okay, but I think this is a bit of a departure from the original idea of decentralization.

AicecreaME

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It shouldn’t be worrisome if all of your activities and transactions are legal.

I don’t think there’s a need for being afraid of them knowing the transactions address. After all, our identities wouldn’t be at stake. We’ll still be anonymous if that’s what you’re overthinking about. Unless, of course, you’ll use a KYC platform or website. Because by using so, it can definitely leak your information once a hacking happens.

Also, this isn’t proven yet right? So why bother to worry for some kind of false and overstated advertisement? As long as you’re not using a KYC website for your financial transactions, i believe you’re always going to be fine.

wanted sliter

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Anonymous cryptocurrencies are now helping crypto-related crimes. I don't think so much because if they can create a protocol to make anonymous cryptocurrencies invisible, they will help reduce crypto crime. That's good news for the market as a whole, we should see the market's manipulators and better predict market trends.

bitcoinst

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Sorry. Did I hear it or did the Russians reinvent blockchain?
It is not entirely clear how they are going to deal with drug traffic, because it is impossible to identify all wallets, new and new ones will appear. It remains only to negotiate with the exchanges to block this kind of funds, but it still needs to be proved that the funds are "dirty". So far, this looks like a great project for kickbacks of collected money.

charlie137

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Quote from: hatshepsut93 on August 21, 2020, 07:21:41 PM

You know it's all bullshit when someone says that they can deanonymize Monero. And claims about artificial intelligence often don't inspire confidence and can be another sign of a scam, because nowadays it's so easy to claim that you can solve any problem with AI, but it's actually hard to do so on practice. Also Russia is notorious for making bold claims about technology with nothing to back them up, Putin's vaccine being the latest one.

thats some genuine crap))) https://arxiv.org/pdf/1704.04299/ you guys really think you gonna shield every gray coin before the proto shift?)))))))))) fucking monero fanshit)

xenon131

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Quote from: hatshepsut93 on August 21, 2020, 07:21:41 PM

You know it's all bullshit when someone says that they can deanonymize Monero. And claims about artificial intelligence often don't inspire confidence and can be another sign of a scam, because nowadays it's so easy to claim that you can solve any problem with AI, but it's actually hard to do so on practice. Also Russia is notorious for making bold claims about technology with nothing to back them up, Putin's vaccine being the latest one.

After receiving money they do nothing

hatshepsut93

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You know it's all bullshit when someone says that they can deanonymize Monero. And claims about artificial intelligence often don't inspire confidence and can be another sign of a scam, because nowadays it's so easy to claim that you can solve any problem with AI, but it's actually hard to do so on practice. Also Russia is notorious for making bold claims about technology with nothing to back them up, Putin's vaccine being the latest one.

goldade

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Although this will help reduce scam and fraudulent activities, it will drastically reduce the privacy users have in making transactions.
It is noteworthy to know that one of the characteristics of bitcoin that led to its adoption is the fact it provides anonymity for users.
If that is removed, it is impossible to know what the future holds for bitcoin.

BChydro

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Quote from: MCobian on August 19, 2020, 06:49:44 PM

There is nothing to worry about regarding the Russian tool that can track digital asset movement, because as long as we make transactions without
KYC procedure will be fine. Moreover, if it is true that this Russian tool can be run, it will reduce the current number of scams. I am among those
who support this Russian tool.

The idea behind it is not about identifying the users from exchanges but to follow the transactions and identifying the trail, sure these tools will help the law enforcement authorities in identifying scams but it reduces the privacy of the users. There are companies that are helping the authorities in identifying the trails even now and more companies are coming forward providing these tools.

witcher_sense

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Quote from: suzanne5223 on August 19, 2020, 06:04:59 PM

You're totally wrong about bitcoin to be only used for illicit activities.

They clearly meant that. For them, cryptocurrency is not decentralized, open, neutral, borderless, permissonless payment system that is about to replace central banks and legacy financial system. Criminals, weirdos, geeks are the only users and adopters of that payment system. They should be controlled and surveilled all the time. Either they underestimate its importance or they actually believe that bitcoin is capable of replacing the current obsolete system. The main problem is rationales they are providing are always the same, haven't changed over long time, and thus real motives behind aren't clear either.

thesmallgod

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This can only be useful for the government and other parastatals that want to monitor and get access to people's identity. Crypto users want something more transparent and offer higher anonymity and which is the reason why some make use of additional services such as mixing services. Also for a country that has been engulfed in a series of news about an attempt to regulate some crypto-related activity, I believe it won't be a welcome idea for all crypto nerds

imstillthebest

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monero is a privacy coin . it would be a bad if they this tool makes the coin useless but i guess its okay with btc because btc is not fully anonymous . other than that ,you said this helps combats illegalities that are done before secretly , if this tool helps expose them why not ? and industry now are into blockchain because they want transparency but if this tool helps blockchain to be more transparent they will be happy with that .

wiss19

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I don’t see any reason for me to be worried about this, these kind of news no longer bothers me because I don’t do illicit Businesses with cryptocurrency, so even if they should start tracking my address they are not going to find anything that’s related to illicit activities, cause I’m all clean.

The people that are going to be worried are mainly those that are using cryptocurrency for bad purposes. I know that they are doing all these things as a way to reduce the rate of scammers in the cryptocurrency market. Some of us are interested in using cryptocurrency just for transactions, and good purposes only, but others have decided to only use it in the wrong way.

MCobian

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There is nothing to worry about regarding the Russian tool that can track digital asset movement, because as long as we make transactions without
KYC procedure will be fine. Moreover, if it is true that this Russian tool can be run, it will reduce the current number of scams. I am among those
who support this Russian tool.

suzanne5223

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Quote from: witcher_sense on August 19, 2020, 04:55:10 PM

First of all, it doesn't exist, literally. The prototype they built was not using and was not based on any AI.

The analytic AI is yet to be exist cause they are having financial challenges but the protocol will be run by AI.

Quote from: witcher_sense on August 19, 2020, 04:55:10 PM

They concluded that blockchain is immutable, the data stored in it cannot be changed.

Precisely and thats why the transaction done since 2009 when bitcoin was created still exist in the blockchain.

Quote from: witcher_sense on August 19, 2020, 04:55:10 PM

In order to identify participants of particular immutable transaction, those participants first need to disclose their identity through passing KYC, for example. If you don't reuse your address, AI will not find you.

KYC is not the only way they are planning to disclose identity cause they can still do that through IP address.

Quote from: witcher_sense on August 19, 2020, 04:55:10 PM

Bitcoin blockchain is not based in Russia.

Yes but they are taking bold step in supporting blockchain.

Quote from: witcher_sense on August 19, 2020, 04:55:10 PM

Bitcoin is only used in illicit activities and nowhere else, all countries should unite to turn off internet and make bitcoin useless.

You're totally wrong about bitcoin to be only used for illicit activities.

javainn

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Quote from: suzanne5223 on August 19, 2020, 07:21:36 AM

Quote from: kryptqnick on August 19, 2020, 06:21:59 AM

Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

According to Cointelegraph developers from Lebedev Physical Institute have successfully developed a prototype of new crypto analytics system called "Transparent Blockchain".

They claim this system effectively uses artificial intelligence to reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

In essense, the system enables blockchain analysts "to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets".

What do you think? Should we be worried?

Bitcoin transactions aren't anonymous, Blockchain is already public and thus transparent. As for Dash and Monero which are also mentioned in the article, that's another story. Whatever they're planning to do with Bitcoin blockchain, I'd be cautious about it. Russia is not the kind of country that I would trust with such a task. The level of corruption is high, the police is very militarised, human rights violations are not irregular. So there's a good chance the officials would use the system to track down someone's money for their personal reasons or to sell the data to someone. If there were a way to ensure the system is indeed only used to fight criminals, it's one thing. But since it's not the case, it's worrisome.

Please try to read the original article source link because privacy coins are not mentioned by the Russian intelligence team and it the article writers that mention privacy coin in other to get our attention. How is it possible to track a transaction which it does not exist on blockchain and only disclose to the parties involved?
Speaking of Russia corruption level which is well know and I dont think people will trust them but I'm sure the device they created to target bitcoin transactions.

It is very risky to do its job of tracking the transactions on the blockchain without being detected ... but maybe it has a positive purpose to avoid criminals who use crypto for bad purposes. if we don't make a mistake in using crypto maybe there's no need to worry

witcher_sense

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Quote from: suzanne5223 on August 19, 2020, 07:49:49 AM

~

Lets summarize gathered information about magic russian AI:

First of all, it doesn't exist, literally. The prototype they built was not using and was not based on any AI.
Despite the fact it doesn't exist, it is able to scan whole Internet. Twice.
They concluded that blockchain is immutable, the data stored in it cannot be changed.
In order to identify participants of particular immutable transaction, those participants first need to disclose their identity through passing KYC, for example.
If you don't reuse your address, AI will not find you.
Bitcoin blockchain is not based in Russia.
Bitcoin is only used in illicit activities and nowhere else, all countries should unite to turn off internet and make bitcoin useless.

I am scared.

stompix

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Quote from: pooya87 on August 18, 2020, 02:04:07 AM

just another low quality article from cointelegraph that is actually advertising yet another blockchain analysis service trying to gain some popularity and make some money from that.

Actually right now it the worst combination possible, a low-quality article, a government agency waiting for money and of course the promises of developing something out of the ordinary made in russia. Every once in awhile there is an "inventor" that comes out with something that blows the competition away making the Russian invention totally revolutionary, the propaganda uses it as one of its tools, the guy behind it cashes a lot of funds and then, there is silence.
It happens on a large scale as we see now with the covid vaccine, happened with the Yo-Mobile, YotaPhone, and of course Alyosha, and of course, happens at a smaller scale as we see here.

Now somebody from that agency saw a chance for funding and using some buzzwords, and here we go, what the rest of the world has deemed impossible they will manage...until they run out of funding as it proves useless.

Quote from: bitbunnny on August 18, 2020, 02:31:14 PM

For me Russia and transparency don't go into same sentence.

It's is transparency alright, but only for you, not for them Grin

charlie137

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Quote from: suzanne5223 on August 19, 2020, 07:21:36 AM

Quote from: kryptqnick on August 19, 2020, 06:21:59 AM

Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

According to Cointelegraph developers from Lebedev Physical Institute have successfully developed a prototype of new crypto analytics system called "Transparent Blockchain".

They claim this system effectively uses artificial intelligence to reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

In essense, the system enables blockchain analysts "to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets".

What do you think? Should we be worried?

Bitcoin transactions aren't anonymous, Blockchain is already public and thus transparent. As for Dash and Monero which are also mentioned in the article, that's another story. Whatever they're planning to do with Bitcoin blockchain, I'd be cautious about it. Russia is not the kind of country that I would trust with such a task. The level of corruption is high, the police is very militarised, human rights violations are not irregular. So there's a good chance the officials would use the system to track down someone's money for their personal reasons or to sell the data to someone. If there were a way to ensure the system is indeed only used to fight criminals, it's one thing. But since it's not the case, it's worrisome.

Please try to read the original article source link because privacy coins are not mentioned by the Russian intelligence team and it the article writers that mention privacy coin in other to get our attention. How is it possible to track a transaction which it does not exist on blockchain and only disclose to the parties involved?
Speaking of Russia corruption level which is well know and I dont think people will trust them but I'm sure the device they created to target bitcoin transactions.

Since they haven't delivered yet, this also might be a way to milk some "blockchain security" investors) And disclosing such initiative prior exploiting the advantage? But it also could be just a basic crawler sniffing overlaps thro ISP data: ie almost all Eth wallets are web based, so every ISP is already in possession of the record of every wallet address and the IP it was requested from (you dont see many security specialists on eth ahahah). Put some meta from CEX and you don't even need AI you likely gonna fail to tame before it backfires in your face) 🍻

ampu

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I think we shouldn't worry if we don't do anything wrong. In addition to the purpose of owning Crypto for investment, to use it, there is a group of people that use crypto for gambling, money laundering, stealing other people's money, and using them. The creation of new technology chains helps us to make the market transparent and bring confidence to our users.

suzanne5223

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Quote from: witcher_sense on August 19, 2020, 07:34:09 AM

Quote from: suzanne5223 on August 19, 2020, 07:21:36 AM

How is it possible to track a transaction which it does not exist on blockchain and only disclose to the parties involved?

I have no idea how they are going to trace those coins, but may be they need more money to fully explain that. As far as I know, they are asking for 10 millions $, which is a big amount of money.

You're right they did mention ETH,Monero, and Dash since they are among the top crypto used in crypto realms along with BTC.

The article explained how they are planning to trace coins which i believe they wont be able to trace privacy coin (Grin/Monero) and mixing company users if they avoid human errors.

Quote

How artificial intelligence can help keep track of the cryptosphere

Rosfinmonitoring plans to create an AI that will monitor the entire Internet in search of illegal actions with cryptoassets, explains Nikita Kulikov, member of the State Duma expert council, founder of PravoRobotov ANO. Cryptocurrency transactions are carried out on blockchain systems. The main property of the blockchain is the immutability of information about transactions, each stage of which is linked into a chain, and therefore it cannot be changed. This data is available to all participants in the blockchain, but it will be possible to identify the participants in transactions only if at least some initial information is known, the expert explains.

For example, if there is information that an account has been created on a site on the darknet, you can trace the accounts that sent funds to its crypto wallet, adds Dmitry Goroshevsky, CTO of TON Labs: “Next, if you want to open an account on some legitimate crypto exchange , and then withdraw funds to an account associated with transactions with an account from the darknet, then this is a reason for the exchange security officer to pay attention to your account. "

Agios

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As long as we don't violate government regulations, we don't need to worry about the Transparent Blockchain, and any systems that will be implemented in the future. Funding or using bitcoin for terrorism or money laundering will benefit law enforcement officials to take action. The fastest law enforcement officers can catch criminals within 1 day. The tracking process can be done by accessing a blockchain site that contains historical bitcoin information.

hulla

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Quote from: Kelvinid on August 18, 2020, 06:17:52 PM

Mixers haven't become effective nor we need to use it.

Mixing company transactions may not be fast but at least your anonymity is sure which is the most important thing and I dont know why you believe in the news hype posted by Cointelegraph which was knew for adding sugar to their articles.

Quote from: Kelvinid on August 18, 2020, 06:17:52 PM

Since it was started in order to stop any scamming issues, it possible we all coming that way and lost the anonymity that supposedly we have.

I don't see that happen mate. I'm sure a majority of the mixing company like Blender will examine the analytic equipment and if it does expose anonmymity, an advanced tumbler equipment will be established. Besides, it hard for any analytic equipment to expose anonymity created by genuine mixing companies.

witcher_sense

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Quote from: suzanne5223 on August 19, 2020, 07:21:36 AM

Please try to read the original article source link because privacy coins are not mentioned by the Russian intelligence team and it the article writers that mention privacy coin in other to get our attention.

I read through the original article and found that they actually mentioned privacy coins along with others.

Quote from: suzanne5223 on August 19, 2020, 07:21:36 AM

How is it possible to track a transaction which it does not exist on blockchain and only disclose to the parties involved?
Speaking of Russia corruption level which is well know and I dont think people will trust them but I'm sure the device they created to target bitcoin transactions.

I have no idea how they are going to trace those coins, but may be they need more money to fully explain that. As far as I know, they are asking for 10 millions $, which is a big amount of money.

suzanne5223

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Quote from: kryptqnick on August 19, 2020, 06:21:59 AM

Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

According to Cointelegraph developers from Lebedev Physical Institute have successfully developed a prototype of new crypto analytics system called "Transparent Blockchain".

They claim this system effectively uses artificial intelligence to reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

In essense, the system enables blockchain analysts "to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets".

What do you think? Should we be worried?

Bitcoin transactions aren't anonymous, Blockchain is already public and thus transparent. As for Dash and Monero which are also mentioned in the article, that's another story. Whatever they're planning to do with Bitcoin blockchain, I'd be cautious about it. Russia is not the kind of country that I would trust with such a task. The level of corruption is high, the police is very militarised, human rights violations are not irregular. So there's a good chance the officials would use the system to track down someone's money for their personal reasons or to sell the data to someone. If there were a way to ensure the system is indeed only used to fight criminals, it's one thing. But since it's not the case, it's worrisome.

Please try to read the original article source link because privacy coins are not mentioned by the Russian intelligence team and it the article writers that mention privacy coin in other to get our attention. How is it possible to track a transaction which it does not exist on blockchain and only disclose to the parties involved?
Speaking of Russia corruption level which is well know and I dont think people will trust them but I'm sure the device they created to target bitcoin transactions.

posi

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Quote from: Kelvinid on August 18, 2020, 06:17:52 PM

Quote from: posi on August 18, 2020, 05:37:33 PM

Quote from: pakhitheboss on August 18, 2020, 01:40:05 AM

In a way it will help stop scams but it will also to a certain extent compromise the privacy of individuals using these coins. Privacy based coins will become redundant if this system works.

I do not think we need to be worried of it yet.

The Transparent Blockchain crypto analysis will stop scam in the cryptocurrency system but the chance of it to effectively work as OP said is 25% because theres no proper justification and after doing my own proper research about the article I find out the AI analytics system was created according to the data of Bitcoin payment system which mean even if the analytics very well privacy coins can be tracked and is bitcoin tumblers.

And sad to say that anytime soon, we can no longer hide anything in here. Mixers haven't become effective nor we need to use it. Since it was started in order to stop any scamming issues, it possible we all coming that way and lost the anonymity that supposedly we have. Though I understand how this helps to prevent illegalities and this changing a lot for crypto, and I'm not sure how people being excited to see crypto having like this in the future as we all want privacy.

It is very unfortunate how scammers and hackers brought this kind of events that soon it ruins the anonymity feature. Only I hope this could be the best solution to fully stop scammers and to hunt hackers, then we might going back to its original market feature.

I have the feels that youre loosing hope too soon because the tools was created base on bitcoin protocols and if the tools is 100% good it will only break the coinjoin anonymity cause coinjoin operated through the mixture of multiple Bitcoin payments from alot spenders into single transaction but still unable to figure each transaction sender until and theres possible chance that the tools could break the coinjoin strategy.
Meanwhile, are the best option now.

kryptqnick

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Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

According to Cointelegraph developers from Lebedev Physical Institute have successfully developed a prototype of new crypto analytics system called "Transparent Blockchain".

They claim this system effectively uses artificial intelligence to reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

In essense, the system enables blockchain analysts "to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets".

What do you think? Should we be worried?

Bitcoin transactions aren't anonymous, Blockchain is already public and thus transparent. As for Dash and Monero which are also mentioned in the article, that's another story. Whatever they're planning to do with Bitcoin blockchain, I'd be cautious about it. Russia is not the kind of country that I would trust with such a task. The level of corruption is high, the police is very militarised, human rights violations are not irregular. So there's a good chance the officials would use the system to track down someone's money for their personal reasons or to sell the data to someone. If there were a way to ensure the system is indeed only used to fight criminals, it's one thing. But since it's not the case, it's worrisome.

sergosh

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Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

According to Cointelegraph developers from Lebedev Physical Institute have successfully developed a prototype of new crypto analytics system called "Transparent Blockchain".

They claim this system effectively uses artificial intelligence to reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

In essense, the system enables blockchain analysts "to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets".

What do you think? Should we be worried?

To answer the question properly you should know how the Russian government grant system works.

Companies like this do little bit of promotion and then claim billions from the budget. But nothing effective or real is/will be done.

witcher_sense

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Quote from: Yamifoud on August 18, 2020, 05:22:10 PM

If their purpose is to track illegalities maybe it was acceptable but how about those who run it legally?

In order to effectively track transactions that are illicit, they need to make the whole blockchain transparent. What that means? They should trace every transaction and identify every sender and reciever to make sure transactions remain completely legal on each step. It doesn't matter whether you a scammer, criminal, drug dealer or average Joe, in such system you are going to end up victim of russian surveillance machine. If you are law-abiding Russian, for example, surveillance machine still might be used against you. If they identify you, your cryptocurrency will be lost forever, it will be taken away by any available means: unreasonable taxes, violence, coercion, tortue.

dansus021

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All people in here aggred about capture of scammer.

but we shouldn't woory about it, else if u have something to hide Grin

but trust me if the russia belive can reduce trasnparent of transaction the community are trying to improve the privacy itself Cool

Kelvinid

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Quote from: posi on August 18, 2020, 05:37:33 PM

Quote from: pakhitheboss on August 18, 2020, 01:40:05 AM

In a way it will help stop scams but it will also to a certain extent compromise the privacy of individuals using these coins. Privacy based coins will become redundant if this system works.

I do not think we need to be worried of it yet.

The Transparent Blockchain crypto analysis will stop scam in the cryptocurrency system but the chance of it to effectively work as OP said is 25% because theres no proper justification and after doing my own proper research about the article I find out the AI analytics system was created according to the data of Bitcoin payment system which mean even if the analytics very well privacy coins can be tracked and is bitcoin tumblers.

And sad to say that anytime soon, we can no longer hide anything in here. Mixers haven't become effective nor we need to use it. Since it was started in order to stop any scamming issues, it possible we all coming that way and lost the anonymity that supposedly we have. Though I understand how this helps to prevent illegalities and this changing a lot for crypto, and I'm not sure how people being excited to see crypto having like this in the future as we all want privacy.

It is very unfortunate how scammers and hackers brought this kind of events that soon it ruins the anonymity feature. Only I hope this could be the best solution to fully stop scammers and to hunt hackers, then we might going back to its original market feature.

posi

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Quote from: pakhitheboss on August 18, 2020, 01:40:05 AM

In a way it will help stop scams but it will also to a certain extent compromise the privacy of individuals using these coins. Privacy based coins will become redundant if this system works.

I do not think we need to be worried of it yet.

The Transparent Blockchain crypto analysis will stop scam in the cryptocurrency system but the chance of it to effectively work as OP said is 25% because theres no proper justification and after doing my own proper research about the article I find out the AI analytics system was created according to the data of Bitcoin payment system which mean even if the analytics very well privacy coins can be tracked and is bitcoin tumblers.

alani123

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Sounds a bit fishy if you ask me. To make such claims they'd need to provide better proof other than just claims. They're not the first to make a tracing tool for bitcoins but that doesn't imply any de-anonymization. Maybe at best they could see which coins have been associated with "tainted" websites/wallets etc. but to find the people behind the transactions for "full transparency" would depend on many more factors. Anyway, big claims require extraordinary evidence. Something to keep an eye on of course but if it's something new or not will only show once they release it.

Yamifoud

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I'd somehow get worried that anytime soon we already lost the anonymity feature that crypto may have. I'm not going in favor of this new tool as we can't protect our privacy anymore but just being bold enough to the community which might get abuse by scammers or even for hackers. I'm not sure how the community responded this as a good venture but most likely, they are also against it.

If their purpose is to track illegalities maybe it was acceptable but how about those who run it legally? I don't think it was a good idea, in fact, we have the blockchain record that might be enough to become traceable. I haven't thought this a fair idea but just leading this into destroying the anonymity we have.

DoublerHunter

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Quote from: bitbunnny on August 18, 2020, 02:31:14 PM

For me Russia and transparency don't go into same sentence. I'm more likely to beleive that they will produce some tool for hiding. However, anonimity of Bitcoin is past tense and actually doesn't exist anymore. Even without such tool transactions are much easier to trace then before and it's hard to fully hide anonimity.

^ Russia invented it so it will only stay in Russia Grin

, can that prototype trace the illegal transactions before it is used? It would be helpful then, I think they should do a dry run and what about for example they have traced an illegal activity and a huge amount of cryptocurrency is involved, where could that be going? I mean the busted Crypto amount?

bitbunnny

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For me Russia and transparency don't go into same sentence. I'm more likely to beleive that they will produce some tool for hiding. However, anonimity of Bitcoin is past tense and actually doesn't exist anymore. Even without such tool transactions are much easier to trace then before and it's hard to fully hide anonimity.

Ozero

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Quote from: NeuroticFish on August 18, 2020, 06:02:23 AM

Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

Interesting choice of words. At cointelegraph is even more interesting: "partially reducing anonymity". This may mean a lot or nothing.
I am very curious what they did about Monero and I mean real life cases, not some unique in-lab user cases that can be handled by the "prototype".

This is similar to how Russia recently announced the creation of the first vaccine against coronavirus. They trumpeted this to the whole world that they were ahead of the entire planet, and now doctors do not want to take this vaccine, because it has a lot of side effects, and it is not known whether it is effective against coronavirus. Therefore, it is not worth worrying about the fact that the cryptocurrency will somehow decrease its anonymity. Let them first show it in practice.

Velkro

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Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

What do you think? Should we be worried?

No, nothing new i would bet its an ad of services.
Privacy in Bitcoin is non-existent tho, needs improvement to be mainstream. There are plans for it but how long it will take?
Probably couple years.

Pffrt

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If you use centralized mixing service, I think there will be not much way to trace a tx since the tx will be in no way connected with one another. So, there's nothing much of worry. Also, there are privacy coins like Monero, DeepOnion, Dash which can be used to be untraceable. It's not that easy to detect such tx source link by tool.

Bitcoin_bullish

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Quote from: davis196 on August 18, 2020, 01:58:32 AM

Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

According to Cointelegraph developers from Lebedev Physical Institute have successfully developed a prototype of new crypto analytics system called "Transparent Blockchain".

They claim this system effectively uses artificial intelligence to reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

In essense, the system enables blockchain analysts "to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets".

What do you think? Should we be worried?

Should we be worried about what?Do you have something to hide?

Online privacy is a difficult subject but I'm always pro anonymity. It is not needed to have something to hide. Perhaps at some point, we will all have to. I will give you this example:

There are political dissidents in countries run by totalitarian regimes that hold authority higher than individuality. These dissidents can be identified if they falsely thought that the donations they received were totally anonymous and no one could ever trace the money to his name. Where do we draw the line that online privacy and anonymity are not needed because we are law-abiding citizens?
Belarus? China? North Korea perhaps?

A crackdown of certain parts of the dark markets that are disturbing requires tracing addresses? There are easier ways and more efficient.

Quote from: davis196 on August 18, 2020, 01:58:32 AM

All my crypto transactions are legal

What is legal in your country does not mean it is the same everywhere or that it will continue to be legal.

electronicash

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i'd be curious if the Russian project will release a coin of their own and untraceable. Grin

if they have the Analytics System then its going to be useful for tracing suspicious transaction. Putin must need this to trace Mcmafia transactions. but all these are just talks, there is nothing to this article really but a promotion of this blockchain services and AI. they got to prove something.

jerrison

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The technology deployed, was it deployed on these blockchains or its just a tech that is developed to work independently on its own. i understand technology most times has some technicalities but does it also tell the exact identity of someone who doens't underdo kyc on the blockchain platform and what is the possibility of knowing the accuracy of this technology.

Ucy

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Quote from: erikoy on August 18, 2020, 02:13:17 AM

We are heading towards centralization in this matter. Anonymity will be gone as this is one of the purpose why cryptocurrency was created. However, if it will do good as it will be realized then I guess in my opinion that it is alright to make some modifications in the part of cryptocurrency. We will going to see it on what will happen to cryptocurrency if there will be changed will going to make. I know that this could happen because of the scam activities that are rampant with anonymity.

Ofcourse.
One of the ways to craftily take over a decentralized community that uses the anonymity features to shield itself from tyranny and keep the community safe, is through destruction of anonymity by opaque/hidden centralized entities. I think de-anonymization of criminals should be left exclusively to the public security agencies.

Every well decentralized blockchain/crypto should have strong anonymity/privacy as default. Users unique identities can be tied to their most important transactions on a network but properly hidden from the public and everyone else if they choose to. User should only be de-anonymized if he/she commits serious crime

RokokGudangGaram

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I agree that this will help in such a way where scams can be stopped. However, if they are really after tracing these transactions, it would require hard work on collecting data and could possibly compromise privacy of individuals. I also though of this too, that illegal coins could be sent to someone who is not really involved in any explicit transactions then would there be any sanction? Worrying about it now won't matter as there is no evidence that it is currently happening.

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Quote from: erikoy on August 18, 2020, 02:13:17 AM

We are heading towards centralization in this matter. Anonymity will be gone as this is one of the purpose why cryptocurrency was created. However, if it will do good as it will be realized then I guess in my opinion that it is alright to make some modifications in the part of cryptocurrency.

Hmm I guess anonymity will still be there since people would not still know you after sending funds to another. As I understand it, this will only reduce the anonymity from which the service provider will transparent, so every one will know where platform it is coming from or going to, and that will make the job of cyber crime operatives easier to locate some suspicious movements. This is what we need when we want a fully working cryptocurrency in our society, we should have less of crimes like scams and stolen funds so we can live better along with crypto. Unless you're doing some illegal activities.

I know every one of us wants to be anonymous as much as possible, but I think this will help.

Quote from: erikoy on August 18, 2020, 02:13:17 AM

We will going to see it on what will happen to cryptocurrency if there will be changed will going to make. I know that this could happen because of the scam activities that are rampant with anonymity.

There is no specifics data given on that article, well some says that is another poor article from cointelegraph where I can agree on, so we'll be in touch with this.

The Cryptovator

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I have read the articles, but not getting the points on how they are going to reduce the anonymity of the cryptocurrency transaction. How artificial intelligence will collect data that aren't in the blockchain? Those data available on the blockchain it's already public. And I don't think we should worry about this artificial intelligence. We have some other way to protect our anonymity. It wouldn't be a threat for crypto users IMO.

7788bitcoin

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Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

They claim this system effectively uses artificial intelligence to reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

In essense, the system enables blockchain analysts "to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets".
What do you think? Should we be worried?

As long as you are not doing anything illegal there is nothing much to worry unless you are under living in a dictatorship regime that banned cryptocurrency as they can target people with these tools. It is obvious that the government want transparency to make it legal and many companies will build these tools to have a foothold in the market to track every transactions and create business.

Quote from: ?? on ??

Even if you're not, there's possibility you earned coins from someone else that linked with criminal activity and exchange might flag your coins as suspicious/dangerous.

It is a possibility but as an end user we will be careful about the funds we are accepting if there is legal ramification.

Oasisman

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Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

They claim this system effectively uses artificial intelligence to reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

What do you think? Should we be worried?

This doesn't reduce the anonymity, instead It's eliminating the anonymity.
This is somehow worrisome for those who seeks privacy in every transactions, but I guess this tool only works when someone is using a centralized exchange that fully complies with KYC.

Quote

Dubbed “Transparent Blockchain,” the new system is designed to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets

There's no other easy way to track transactions than tracing the crypto service providers data base of their clients using the KYC credentials linked with the address.

Nevertheless, this doesn't really matter and won't eliminate the main purpose of creating the system.

tranthidung

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"Garbage in, garbage out" and illegal inputs cause illegal outputs so that if you don't make your transactions from illegal inputs you won't have to worry about that tool. It has not yet taken into consideration the quality and efficacy of the new tool compare to other tools.

I almost stopped reading articles on cointelegraph.com since later half of 2018 because of their low quality articles that are likely kinda seeding for companies hire them to write/ publish those articles.

Let's take the article as a chance to re-read the excellent thread of @1miau: Why KYC is extremely dangerous – and useless

NeuroticFish

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Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

Interesting choice of words. At cointelegraph is even more interesting: "partially reducing anonymity". This may mean a lot or nothing.
I am very curious what they did about Monero and I mean real life cases, not some unique in-lab user cases that can be handled by the "prototype".

Sanitough

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Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

According to Cointelegraph developers from Lebedev Physical Institute have successfully developed a prototype of new crypto analytics system called "Transparent Blockchain".

They claim this system effectively uses artificial intelligence to reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

In essense, the system enables blockchain analysts "to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets".

What do you think? Should we be worried?

We shouldn't worry, unless we are doing illegal activities in the blockchain, or we valued anonymity a lot, but for most of us, I think this is fine since we are just ordinary users. At least only the addresses transactions can be track and not our real identity, so nothing to worry about unless exchanges, gambling sites and other sites we are using will sell or leak our information when we sign up for the KYC.

The positive side is on the government as this tool could be useful for their aim of transparency, with this tool, they might fully regulate crypto as it will make them more effective in doing their job.

avikz

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Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

According to Cointelegraph developers from Lebedev Physical Institute have successfully developed a prototype of new crypto analytics system called "Transparent Blockchain".

They claim this system effectively uses artificial intelligence to reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

In essense, the system enables blockchain analysts "to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets".

What do you think? Should we be worried?

If you aren't doing anything illegal - I see no reason for worrying!

But if the system designed by Russian company can effectively track the movement of the crypto assets, the hackers should be worried more because they obtain the crypto assets through their wrongdoings. I belive we need more such surveillance tools in crypto market so that the hacking and scamming incidents are reduced. Otherwise we are going to a very wrong direction right at this moment.

Tipstar

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Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

According to Cointelegraph developers from Lebedev Physical Institute have successfully developed a prototype of new crypto analytics system called "Transparent Blockchain".

They claim this system effectively uses artificial intelligence to reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

In essense, the system enables blockchain analysts "to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets".

What do you think? Should we be worried?

The government around the world are tracking coins one way or other and this was quite predictable as every economically oppressive nation would want to monitor everyone and everything. They previously needed to track every suspicious transaction and involved addresses. Now they have created a large record of every transaction and addresses to track every move of a coin. Though there are unlimited addresses, the coins are limited and the addresses they are mined to are limited.

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Quote from: davis196 on August 18, 2020, 01:58:32 AM

Do you have something to hide?

Everyone has something to hide, and if you say otherwise, you are likely being hiding the fact that you are hiding something.

Quote from: davis196 on August 18, 2020, 01:58:32 AM

All my crypto transactions are legal,so I don't have to worry about anything.If you don't pay taxes over your crypto income,sooner or later the tax clerks will knock on your door.This is inevitable.

That doesn't work that way if you are living under authoritarian regimes. Of course, we are not talking here how to commit crimes using bitcoin. What is really interesting is how it is affecting common individuals and their privacy. The prospect to be under surveillance from Russian governement is not so bright, anyway.

erikoy

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We are heading towards centralization in this matter. Anonymity will be gone as this is one of the purpose why cryptocurrency was created. However, if it will do good as it will be realized then I guess in my opinion that it is alright to make some modifications in the part of cryptocurrency. We will going to see it on what will happen to cryptocurrency if there will be changed will going to make. I know that this could happen because of the scam activities that are rampant with anonymity.

pooya87

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just another low quality article from cointelegraph that is actually advertising yet another blockchain analysis service trying to gain some popularity and make some money from that. which is also why they are using buzzwords such as artificial intelligence and have claims without proof about anon coins like Monero.

davis196

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Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

According to Cointelegraph developers from Lebedev Physical Institute have successfully developed a prototype of new crypto analytics system called "Transparent Blockchain".

They claim this system effectively uses artificial intelligence to reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

In essense, the system enables blockchain analysts "to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets".

What do you think? Should we be worried?

Should we be worried about what?Do you have something to hide?
All my crypto transactions are legal,so I don't have to worry about anything.If you don't pay taxes over your crypto income,sooner or later the tax clerks will knock on your door.This is inevitable.
I would be amazed,if they successfully manage to reduce the anonymity of transactions in the Monero blockchain.Monero might be doomed.

joniboini

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There's no explanation on how things work and no actual evidence it is effective either. Not to mention marketing seems to be always exagerated. Even if this are true, as long as you don't connect any transactions to KYC platform then you should be okay. It's not like they're gonna know who you are after looking at the hash of your recent transactions.

pakhitheboss

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Quote from: witcher_sense on August 18, 2020, 12:06:58 AM

According to Cointelegraph developers from Lebedev Physical Institute have successfully developed a prototype of new crypto analytics system called "Transparent Blockchain".

They claim this system effectively uses artificial intelligence to reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

In essense, the system enables blockchain analysts "to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets".

What do you think? Should we be worried?

In a way it will help stop scams but it will also to a certain extent compromise the privacy of individuals using these coins. Privacy based coins will become redundant if this system works.

I do not think we need to be worried of it yet.

witcher_sense

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According to Cointelegraph developers from Lebedev Physical Institute have successfully developed a prototype of new crypto analytics system called "Transparent Blockchain".

They claim this system effectively uses artificial intelligence to reduce anonymity of transactions in blockchains like Bitcoin, Ether, Omni, Dash and Monero.

In essense, the system enables blockchain analysts "to track the movement of digital financial assets and identify crypto service providers to fight illicit activity related to digital assets".

What do you think? Should we be worried?

Topic: Russian tool will make your transactions transparent (Read 692 times)