Litecoin Emerging as the Next Dark Web Currency

Krenum said:
The sooner the world declares Crytocurrency as a blackmarket currency the better.
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Uh oh. The US Government has said in a recent meeting tha crypto is here to stay and they are working to clean up the scams. If it ever gets outlawed, it still won't go away, just be riskier to use. Doesn't seem like the US Government thinks they can outlaw it, at least yet. I mean why outlaw something that the Government have nothing as far as expenses in, then can tax? That's why it won't be outlawed. It's like getting free money you don't even have to print!
 
DigitalGriffin said:
Ummm no. The only way it can be tracked is if the payment processor tracks source and destination and verifies each. Why do you think crooks love it so much? And that is why bitcoin can be stolen without a trace.

They could use western union and pick up under any name at any location without ID. But that gets it down to a locale and WU offices record each person picking up or dropping off money.
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No. They have been tracking every Bitcoin transaction they can. They do admit that 75% of transactions can't be tracked. The other 25% are people that didn't know how to hide it, and they have a record of all the transactions. Or they are a legit business and don't care.

https://www.theverge.com/2018/1/29/...-how-to-file-taxes-2018-return-compliance-irs

From the article: (This is called research and something called citing sources kids)

Why you really shouldn’t skip out on Bitcoin taxes
The IRS has gone after bitcoin tax evaders before. In 2016, the IRS requested the Coinbase records of all the people who bought bitcoin from 2013 to 2015. After examining tax returns from those years, the IRS found that only 800 some people reported their bitcoin gains on the form 8949 each year. (Form 8949 is a summary of bitcoin gains that basically supplements form 1099, which cryptocurrency taxpayers don’t get from exchanges.)

The IRS partnered in 2015 with a company called Chainanalysis to identify owners of digital wallets who haven’t been paying their bitcoin taxes, according to a contract discovered by The Daily Beast last year. Still, Chainanalysis only has information on 25 percent of all bitcoin addresses, its co-founder Jonathan Lewis wrote to the IRS, meaning that the other 75 percent remain anonymous. It’s likely that the IRS will continue to have to lean on outside consultants like Chainanalysis, says Walsh.

If the IRS catches on that you didn’t pay the tax, you’ll be dealt with like any other tax evader. You’ll be sent a deficiency notice which you can either pay or contest. And the IRS could always later catch you in a regular audit, says Walsh. Common fees include a “substantial understatement” penalty and “negligence or disregard of the rules” penalty, which are an additional 20 percent of the net understatement of tax. If the IRS thinks you knew about the bitcoin tax rates and laws and faked your tax return anyway, it will charge you an additional 75 percent of the underpayment for fraud.

“It’s obviously directly fraudulent.”
It’s also likely that your accountant won’t sign off on a tax return where you underreported capital gains, due to ethical concerns. “Willingly knowing that somebody had capital gains that were reportable is like a pretty bad offense. It’s obviously directly fraudulent,” says Villamena. “It’s a lot worse than if someone just added an extra meal expense that was obviously social and business together.”
 
thebufenator said:
Please explain how lightning will still have problems.

Are you a Bitcoin cash proponent?
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The issues with Lightning are how it locks up funds with no benefit to the user (instead of locking up funds one could use an alt coin), that it by nature is dependent upon centralization for a majority of routes, it is potentially vulnerable to attacks and it will reduce fees that miners receive which could have a large impact on mining. That's perhaps the biggest problem. The big incentive for miners going forward is the fees as the block rewards continue to decline.

No, I'm not a Bitcoin Cash proponent. I am not a proponent of any crypto that Bitmain is a player in. I see ASICs as a bad thing for the health of a blockchain, and when they are controlled by a monopoly I want no part of it.
 
James21 said:
Pickup a cheap junk laptop from a garage sale not near your house, pay in cash.
Put into signal blocking bag.
Go to another location away from where you live, remove hard drive
Boot up from live Tails ISO CD or USB Key that you already downloaded & made somewhere not at your home or work.
Connect up to a public wifi location.
Have explore as you wish.
Throw away laptop when done & get another one for the next time you want to explore
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GNUse_the_force said:
wifi location has cameras.. bam you caught ;)

(well if your traced)
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c3k said:
You forgot the part where you take the battery out of your cellphone (you didn't buy one with a permanent battery, did you?) before you leave your house. And, for the love of Pete, you're not driving a car with a satellite radio, gps, or OnStar (or similar), are you? Oh. You've also obscured your license plate with one of those films. The USDOT has license recognition cameras along many interstates. They also do facial recognition, so you wore a disguise?

;)
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That's some MR. Robot shit right here son... thanks guys for making my aspiration to be a cyber criminal this much easier. Also, cameras: hoodie, use public transportation, use throw away phones.
 
c3k said:
You forgot the part where you take the battery out of your cellphone (you didn't buy one with a permanent battery, did you?) before you leave your house. And, for the love of Pete, you're not driving a car with a satellite radio, gps, or OnStar (or similar), are you? Oh. You've also obscured your license plate with one of those films. The USDOT has license recognition cameras along many interstates. They also do facial recognition, so you wore a disguise?

;)
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It depends on what you are exactly trying to do.
If you are simply needing to make it so that someone can't prove definitively that you were the specific person in that public place packed with lots of people using computers, coming & going all day who researched something online, it's not too hard.
If you are trying to say you never were at the physical location, that is much more difficult to avoid and takes a lot more care & may be counter productive.
If you are just wanting to make sure not to attract attention / get hacked / get on a watch list / have your political opponents pull up search history to smear you in a campaign because you wanted to do some legitimate research (expanding your own knowledge is legitimate research), it's pretty basic and if you don't leave a pattern, most likely it will get lost in the noise. Many people just like things to be private and value their privacy.

If you are actively doing something / planning something / trying to do something illegal, or if you already are under suspicion / surveillance or engaging in criminal activity that is a whole different matter and it all depends on how badly they want you and how often / much you are doing things before you eventually trip up and someone gets you. Once money or value of any sort is traded for illicit activity, things start becoming much easier to track down.
 
nvgrim said:
"Waaa i cant but a video card because people are buying them up and using them for task other than gaming"
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Its not that I can't buy one. Its that I refuse to pay the markup on them. Its not worth it.
 
Krenum said:
Its not that I can't buy one. Its that I refuse to pay the markup on them. Its not worth it.
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Thats how a market works though, people will pay what they think is worth it. I want a lambo, but im not about to pay 200k for a new one so i am priced out of that market.
 
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