07:29:24 <midipoet> i was reading that the other day Isthmus. money laundering through block reward was a pretty interesting concept, i thought
07:35:40 <fluffypony> midipoet: it's pretty common on Bitcoin
07:35:59 <fluffypony> send money to yourself with unusually high fee txs, but only give those txs to a pool you're working with
07:36:14 <fluffypony> and they give you fresh, untainted BTC on the other side, less some commission
07:37:19 <sech1> What prevents chainalys to pick up this route and add it to their BTC/ETH tracing logic?
07:42:09 <midipoet> is the block reward packaged up as one clean output (reward+fees) on bitcoin? i guess it is.
07:45:55 <sech1> Isn't it what mixers already do? So it looks just like a complicated mixer.
07:49:56 <fluffypony> sech1: if it's done subtly enough it flies under the radar - it just looks like a pool paying out shares
07:50:07 <fluffypony> it's not useful for obfuscating stolen funds where they're actively watching
07:50:37 <fluffypony> but I could see it being used for regular ol' money laundering
07:51:32 <fluffypony> "dear IRS, these are proceeds from Bitcoin mining, here are invoices for the mining equipment we purchased (and immediately sold but who's going to check that), and here's our high electricity bill (please ignore the meth cooking facility in the backroom that's actually drawing all the power)"
07:53:03 <sech1> I heard growing plants indoors also requires lots of electricity
07:54:36 <fluffypony> yup
14:35:50 <hyc> you talkingabout the ETH tx with $2.6M tx fee?
15:17:05 <sech1> hyc yes, and there has been 3 such transactions so far
15:20:37 <fort3hlulz> The other likely speculation I heard was a pwnd exchange where the attacker is also an Eth miner
15:20:46 <fort3hlulz> Or just wanting to burn their funds
15:25:38 <hyc> that's not burning, that's just transferring
15:26:00 <fort3hlulz> burn as in change ownership from the exchange to someone else
15:26:05 <hyc> ah
15:26:13 <fort3hlulz> Yeah they're not going away, but they're not going to the attacker wholly either
15:26:28 <hyc> emin gun sirer was guessing that it's just someone's API driver swapping two arguments
15:26:39 <hyc> but I would expect anyone making such an accident would notice after the first time
15:26:41 <fort3hlulz> God I hope not
15:26:46 <fort3hlulz> That guy is very very fired if so
16:20:52 <sarang> Perhaps move the discussion to -lounge due to topic?
16:52:07 <Isthmus> https://xmrchain.net/tx/cfde1670ead4026b8a7f0e336a7456889de8bf3d51034a894558ae032ee2768d
16:52:54 <Isthmus> only non-coinbase txn in the bock
16:53:55 <UkoeHB_> pretty old tx what caught your eye?
16:54:38 <iDunk> Almost 50 XMR fee ?
16:55:19 <UkoeHB_> oh what lol
17:06:01 <Isthmus> One of my favorite on-chain easter eggs
17:06:16 <Isthmus> There were two like that IIRC
17:12:59 <fluffypony> iDunk: 156 XMR fee
17:13:05 <fluffypony> 50 XMR per kb
17:15:17 <UkoeHB_> fluffypony: I think it's only a 0.3kB tx
17:15:33 <fluffypony> oh sorry I flipped those around
17:15:37 <fluffypony> 156 XMR per kb
17:15:39 <fluffypony> 50 XMR total
17:21:07 <sarang> jinkies
17:23:05 <sarang> Also: almost finished rewriting transaction deducibility code to better support incremental updates, so it's easier to get up-to-date useful data on transaction types
17:23:41 <sarang> Seeing the deducibility of transactions plummet at the CT-changeover point is pretty wild
17:24:29 <sarang> Anyone running an explorer API is welcome to run the code (will post with instructions when done) to verify the transaction data I provided earlier
17:33:58 <fort3hlulz> Here's the reasoning for the fees in Eth lately: https://decrypt.co/32145/hackers-blackmail-exchange-with-5-million-of-ethereum-fees-report
17:34:03 <fort3hlulz> Was hackers, apparently
17:34:59 <fort3hlulz> An interesting and inventive way to hold exchange funds hostage while they have a whitelist in place
17:36:52 <sech1> what prevents the exchange from just moving all funds to another wallet?
17:39:44 <fort3hlulz> It depends -- the hack could be one where they've taken control of the wallet itself, but not the whitelisting they're doing on top of it?
17:39:51 <fort3hlulz> Theres a lot at play, so I'm not really sure.
17:40:38 <sech1> "control of the wallet"? Can't exchange just use their private keys to restore it and move funds?
17:40:59 <sech1> Or is it some smart contract shenanigan?
17:41:56 <fort3hlulz> Unless its a cold wallet requiring a lengthy time to retrieve the pk?
17:42:16 <fort3hlulz> for instance split across geographies or something
17:42:21 <fort3hlulz> Not really sure though, just interesting :)
17:56:30 <sarang> Code for transaction and deducibility analysis and plotting: https://github.com/SarangNoether/skunkworks/tree/tracing
17:56:38 <sarang> (you need to supply your favorite plotting tool)
17:56:59 <sarang> Can you move the Ethereum talk to -lounge please?
20:03:47 <philogy> <