Thread by @Raindropactual

Some thoughts on the spike of attention CoinFlip is getting for knowingly facilitating ML.

1) What @LTLovesdigi and others are doing is heroic. This should be a norm, not an exception. As an industry, we talk about not wanting gov't intervention. This is the only route to that.

2) Blockchains don't lie. Until and unless CoinFlip produces their addresses and something tangible about where their BTC goes to disprove what took me mere minutes to find, they're full of shit. To argue otherwise is an exercise in Brandolini's law.

CoinFlip/anyone representing otherwise is engaged in fraud. They have the time bandwidth to throw around vague statements and mislead people. I don't. I've done my part: I've shown what's on the blockchain. That's all I need to do.

Anyone who believes the word of CoinFlip over the blockchain doesn't understand Bitcoin on a fundamental level, or is so afraid of "confrontation" that they're in denial. Thankfully, more and more are rising up to call it for what it is. I've provided the data. They have not.

Anyone representing something different (without substantiating data on the blockchain) is either incompetent, lying, and probably both. Nobody with a shred of professional credibility would say CoinFlip is "cleaner than Coinbase." Won't say a word further on that, don't need to.

3) The PR-panic from CoinFlip is not far removed from the efforts, say, KuCoin did post-hack (or after Borat registered with them). The deceit from CoinFlip is no different from what, say, Bitconnect did when they were called out -- "it's just FUD".

Whistleblowing (backed in data) is not FUD by definition. The people raising these issues, raise the issues because they find it unacceptable that the MAJORITY of CoinFlip's volume is plainly fraud proceeds. That's not FUD. That's holding those in our industry accountable.

4) If what I did, or what the folks that took up where I left off did, was -not- backed in irrefutable data, we'd get sued.

Note I've never been sued by HitBTC, HEX, or others I've called out. Some in the past I've called out faced enforcement actions.

coindesk.com/cipherblade-ok…

CoinFlip likely won't sue others/me over this because this isn't libel. Facts were shared. They'd do nothing more than waste their time and rack up legal fees. (Won't rule out them doing it to waste my time, but that's pushing fast forward on their day of reckoning.)

5) When these issues are plain -- and I mean PLAIN -- to do nothing is to allow these issues -- which ruin untold thousands of people's lives -- to perpetuate.

The CoinFlip AML fiasco is NOT complicated relative to other industry issues. It's very plain.

6) Wrap your head around the fact that I've sunk a shred of spare time into finding what I did on CoinFlip, and their executives/shills are putting a significant time-sink in trying to "remedy" that (by misleading others, fraudulently.)

Those that valuably contribute to society as good members thereof, with valuable skills, are busy. Those that are knowingly engaged in fraud are not busy. The time disparity, yet the entire lack of any facts/evidence-based response. says all you need to know.

7) This is the single most easy, obvious, least-context-needed issue ever raised against a company in the history of the blockchain industry. There's no room for debate. No "what-ifs". It just is what it is.

There's not "devil's advocate" in play here, like "well, how do you know Bitconnect doesn't have a trading bot?" This isn't a THEORY that CoinFlip's outflows are MAJORITY to fraudulent destinations -- it's shown plainly on the blockchain.

There has been no explanation from CoinFlip because there can't be one. They can conjure whatever words or misleading data presentation they desire. It can, has, and will continue to be called out for what it is. People are picking up where I left off. (And thank you for that.)

I've done my part, and the right people know what they need to know -- in our industry (y'all are the real MVPs, allowing me to focus on the more complicated stuff) and elsewhere. Their day will come. Until then, the efforts people are making to distance are noble and commendable