Please spare 5 minutes from your busy schedule of auto-compounding food and animal tokens for 800% APY to read this report.
"Would you allow your credit card statements to be published on the internet ? Monero steadily climbs as shorts double down"
Link to report by Beacon Global Strategies, A DC consulting firm
Author of the report is Michael Morell
Michael Joseph Morell (/məˈrɛl/; born September 4, 1958) is an American former career intelligence analyst. He served as the deputy director of the Central Intelligence Agency from 2010 to 2013 and twice as its acting director, first in 2011 and then from 2012 to 2013. As a CIA analyst he served as presidential daily briefer to George W. Bush, including on the morning of September 11, 2001. In his book, The Great War of Our Time, Morell defends the use of drones by both the Bush and Obama Administrations against suspected terrorists and he explains the CIA's use of Enhanced Interrogation Techniques (what many call torture) by the Bush Administration. He is now Senior Counselor and the Global Chairman of the Geo-Political Risk Practice at Beacon Global Strategies LLC, a consulting firm in Washington, D.C.
Highlights from the report
Recent Financial development on cryptocurrencies
Decreasing share of illicit activity using bitcoin
Intelligence analyst loves transparent blockhain
"Finally, in December 2020, cryptocurrency forensics software was even able to reliably trace stolen Bitcoin tht had been passed through several coin mixers."
“[It] is easier for law enforcement to
trace illicit activity using Bitcoin than it is
to trace cross-border illegal activity using
traditional banking transactions, and far
easier than cash transactions.”
“I pay you $2,000 in a dark alley, who are
the witnesses to that transaction? Just you
and [me], right? With cryptocurrency… the
whole world could be the witness.”
"[Growing use of blockchain forensics] will
essentially be the counterterrorism equivalent
of Usama bin Ladin never again, for the rest of
his life, using a phone after learning that the
U.S. government could listen to his calls."
Increasing use of Monero
There is also mounting evidence that illicit activity is flowing away from Bitcoin and toward AECs. The 2020 RAND report referenced above noted such a shift from Bitcoin to cryptocurrencies with stronger anonymity.18 The prominent DNM “White House Market” has moved to accepting Monero exclusively.19 Similarly, the ransomware group, Sodinokibi, no longer accepts Bitcoin as payment and will only take Monero.20
The advisory added that “[s]ome ransomware operators have even offered discounted rates to victims who pay their ransoms in AECs.”21
In light of the conclusions we have reached, why do we see such alarmist statements and articles about the threat posed by Bitcoin?
My entire 33-year career at the Central Intelligence Agency was driven by one over-riding mission— presenting objective facts and analysis to policymakers so that they could make the best possible decision for the country. Such facts and analysis help overcome fear, misperception, and narrow interests (as opposed to the national interest). My hope with this paper is not that it will be the final word on the issue of Bitcoin and illicit finance but rather, as I noted in the introduction, that it will lead to a more fact-based discussion of the issue.
TL;DR: CIA ❤️❤️❤️ BTC