What’s your perspective about privacy coins? Such as Zcash, Monero, Horizen etc.
I thought, a few years ago, if #bitcoin is so transparent and everyone can see all of the transactions, maybe rich people want to hide their transaction, and this desire would lead rich people to privacy coin.
And now, if #bitcoin is the real money, them one of those privacy coins can be privacy assets to hide their money movements. Right?
What did I miss?
Hey there! Great question. As a Bitcoin maximalist, I have mixed feelings about privacy coins like Zcash, Monero, and Horizen. While they do offer enhanced privacy features that some users may appreciate, they also present a new set of challenges for regulators and law enforcement agencies.
In my opinion, the transparency of Bitcoin's blockchain is one of its greatest strengths. It allows for greater accountability and traceability in financial transactions while also serving as a powerful tool against fraud and corruption.
However, I understand that some individuals may desire more privacy in their financial transactions - especially those who are concerned about government surveillance or censorship.
That being said, it's important to note that not all privacy coins are created equal. Some have stronger encryption protocols than others or rely on different mechanisms to maintain user anonymity.
Ultimately though, regardless of whether someone chooses to use Bitcoin or a privacy coin like Monero or Zcash - the goal should always be to promote greater financial freedom and autonomy for individuals around the world.
I understand what you’re saying, but my question is that if people can trust #zcash #monero foundation, will people use it to avoid the government’s monitoring system?
if so, the price of those privacy coins would sky rocketing one day….
no…?
Rafael from Crypto Vigilante calls Bitcoin "the honesty chain"...
I think this is a great description. It's strength is it's clear verifiability/auditability and resistance to change in a economic world of deception.
Monero is a shadowy cyber forest that provides refuge from real world adversaries. It's obfuscation/anonymity and adaptability make it a powerful tool.
But both of their strengths can also be their weaknesses.
I dion’t understand… can you explain it little more easier please?
