New article on Cointelegraph bitcoin-exchange-changelly-ceo-in-touch-with-european-cybercrime-center contains an interesting statement of Changelly CEO Konstant Gladych:
He said: “Monero is an anonymous cryptocurrency that hides its sender, amount and recipient by mixing transactions, so it’s a reasonable choice as a destination currency. However, there is a blind spot. The quantity of transactions in the Monero Blockchain is insufficient to provide full anonymity, and the major part of transactions can be decoded revealing all the payment details.“
Boom! If this statement is true and it is possible to decode payment details (value, date, sender and receiver) there is no justification for Monero to exist. Their business case is based entirely of anonymity; useful for illegal/dark online markets to buy drugs, weapons, etc.
There’s the broader question I’ thinking about: Is anonymity really possible online? The bridges between fiat and digital currency world is highly guarded (KYC of exchanges) with very limited amount of non-verified identity transactions possible. The same applies for off-ramping funds. Think Bitcoin Debit Cards. If transactions within the crypto sandbox are not anonym either there is no anonymity at all and with enough diligence, patients and investment people behind the digital world are traceable and identifiable.
Dconomy 