IRS has announced a proposal to give solution for breaking privacy of Monero. The one who is able to decipher Monero’s transactions will get whopping 500,000 dollars. This clearly shows that Monero is working as intended.
Clearly, Monero is the new offshore. Interesting to see if billionaires really want to hide their billion dollars worth of wealth in something like cryptocurrency that is this volatile. We truly believe something like an untraceable stable coin.
Monero is the only coin IRS we know that IRS is actually actively fighting. Yes, there is Bitcoin and Etheruem but they have got atleast some reasonably effective control mechanism in place there already.
Here is the most important part of this proposal – all documentation, data, source code, and software developed shall be provided to IRS-CI.
And here is the prize – Proof of Concept and Initial Working System, One or more of: Software Development, Data Feeds, Tools (NTE $500K / 8 months). Nothing will be released to the public, of course. This is IRS we are talking about here.
Is not this a good news for the Monero developers and community as this means more free audits of the Monero’s rock solid privacy.