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📺 Useful Vids 📺
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⛓️ 🔗 Useful Links 🔗 ⛓️
Treasury Disclosure: https://home.treasury.gov/news/press-releases/jy0916
Dusting Attacks: https://twitter.com/depression2019/status/1556748494622208000
Dev Arrested: https://techcrunch.com/2022/08/12/suspected-tornado-cash-developer-arrested-in-amsterdam/
Infura Blocking: https://twitter.com/0xdev0/status/1556933551073153024
Vitalik Sent: https://decrypt.co/107075/ethereum-cofounder-used-blacklisted-tornado-cash-donate-ukraine
Crypto Wars: https://www.eff.org/document/crypto-wars-governments-working-undermine-encryption
Bernstein vs. DOJ: https://www.eff.org/cases/bernstein-v-us-dept-justice
Coincentre Response: https://www.coincenter.org/analysis-what-is-and-what-is-not-a-sanctionable-entity-in-the-tornado-cash-case/
Chainalysis Analysis: https://blog.chainalysis.com/reports/tornado-cash-ofac-designation-sanctions/
Lazarus Use Tornado Cash: https://markets.businessinsider.com/news/currencies/north-korea-launder-treasury-ethereum-us-billion-sanctions-tornado-cash-2022-8
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– TIMESTAMPS –
0:00 Intro
0:40 What Happened?
4:08 Unprecedented
8:33 Privacy Debate
12:21 Impact on Privacy
15:48 Final Thoughts
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#Crypto #Privacy #Ethereum #ETH
21 Comments
Hope you guys enjoyed this breakdown. It's a really important topic and I am sure that the implications will reverberate for some time. What do you think about the sanctions? Should we sacrifice privacy for institutional adoption? would love to get your thoughts! Don't forget that you can follow me on my socials for all the content that you are missing here https://guy.coinbureau.com/socials/. You also have to subscribe to my clips channel which has shorter market updates and weekly livestreams https://www.youtube.com/channel/UCR93yACeNzxMSk6Y1cHM2pw
People think that the government can prevent crypto dumps, that's the only reason they think it needs "regulations" because they lost their ass and want to punish others for their own mistakes? Mabey
My guess: Ethereum, after moving to PoS, will become industry standard for smart contracts, where few big players will own 51%, under FED's supervision. There must be no criminal activity on this chain and all wallets must have KYC. Criminals, enemy states etc, will be forced to use other chains but not Ethereum. Tornado Cash will be forked in other chains but legal smart contracts by big players will take place on a fully controlled and centralized Ethereum.
Crypto has 3 things working against it. First and foremost, as soon as it's considered a threat to a Central Bank (CB), it will be dismissed quite easily. Ya know, for some odd reason when a CB loses sellingil its worthless bonds, they get pissed. 2) it solely relies on the Greater Fool Theory. Finally, because projects, platforms etc are ran by greedy ass humans, there will continue to be rug pulls, paid social media pumpers (99% of crypto Youtubers), all sorts of fraud to include fraud methods not yet even invented yet.
Crypto is anti-fragile. Every time they go on the attack I get excited by the upgrades that will rise. Just preferably don't cut the internet yet – mesh networks and the like are too immature.
Tbh i would have love to have mixer that used kyc of some sort. It sounds very contradicting, but point is just to reduce illicit activities.
If i were to donate for ukraine, using such mixer, people would only know i am using a mixer that potentially donates for ukraine.
The government isn't out for your rights
Github is owned by BILL GATES. Nothing to see here.
Great video, Guy! Privacy is under attack – we need to support Monero.
Why not start arresting xerox CEOs and developers because their copy machines could be used to copy Dollars for counterfeiting.
This P 0 S will never tell you that all crypto and every other market is controlled by the tribe whose name rhymes with the word clues.
This is certainly the warning signal for other projects…they should come together for Tornado and fight the case within the laws …If you are neutral in situations of injustice, you have chosen the side of the oppressor. If an elephant has its foot on the tail of a mouse and you say that you are neutral, the mouse will not appreciate your neutrality.
The whole thing is clearly an attempt by OFAC (Treasury) to cripple crypto & DeFi by creating an enormous amount of FUD. The arrest by the Dutch FIOD was a concerted effort probably coordinated in advance to spice it up a bit more. They know there is absolutely no legal (or practical) basis for this sanction but they also know that it will take a year or more for parties to successfully fight this in court. Meanwhile they already have succeeded in scaring the likes of USDC, Uniswap, Aave, dydx, Balancer, etc. to just spinelessly ban addresses, and many more could still follow. If everybody would realize that it would be hard to actually enforce this unlawful sanction if nobody takes it serious (which it isn't), then there would be no damage done. It the authorities abuse their power and make fun of their own laws, people should revolt, not act like tame sheep.
We know that Tether didn't freeze USDT on Tornado Cash like Circle. Know your friend and your enemy.
The truth here is most people including myself never heard of Tornado Cash! All this is going to do is create 100s of clones and forks and it will probably get worse! If North Korea really want to do this they will just simple code there own!
Institutional Adoption is a bad idea to seek. Mass adoption for the unbanked and under banked need crypto and privacy DeFi is critical. Crypto is freedom.
Tax is theft and most of it is used by the government for terrorism and warmongering!
very good examples 4:35
this is when we fight back!
gimme back my damn high way! if I want to go the high way it's my damn choice!
i bet the dumb&evil regulators (those that are trying to learn) are watching your channel to better understand, the consequences of their actions.
there's probably few amongst their ranks that have such a solid grasp on crypto reality as coin bureau.
Good, they should. About time. The amount of scams on defi is out of control. Criminal paradise. Hope they prosecute all scammers.
And it might be a legitimate reasons to keep your funds private, it however doesn't change the fact the money is getting laundered.