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Privacy Coins Will Skyrocket On 2021 – China Seize $4.2 Billion In Crypto Currencies

Privacy Coins Will Skyrocket on 2021 – China Seize $4.2 Billion in Crypto Currencies

**Always take in consideration non of this information is financial advice or official announcement from any specific project, I’m no expert and this is just my personal opinion on certain project, news or events mention on this article, cryptocurrencies are extreme high risk assets and you must do you own research, all data sources are post at the bottom of the article**

Privacy Coins Will Skyrocket on 2021 – CHina Seize $4.2 Billion in Crypto Currencies

Be prepare to enter a potential rabbit hole in the making.

This week after a normal Bitcoin correction it seems that China FUD strikes back since they finally crack down possible what was the rest of the Plus Token cryptocurrencies hold that divided as follow:

Privacy Coins Will Skyrocket on 2021 - CHina Seize $4.2 Billion in Crypto Currencies

Twitter @lawmaster

Between many other cryptocurrencies but this are the big numbers that can make an impact depending on what the China government will do with it since Bitcoin and Ethereum amount of coins seized is very significant as for Bitcoin is the 1% of the circulating supply with Ethereum very close to 0.8% of the circulating supply, this really makes me think because this event is very similar to to what happen a few months ago when the US seizes $1 Billion in Bitcoin from the Silk Road that the US says they took from a potential “hacker” who crack down the silk road wallet, I really don’t buy that because if that’s the case then all Bitcoin wallets are currently in danger and the entire network and so far nothing has happen yet but that’s not my point here, for me it seems that the more popular cryptocurrency in this case Bitcoin as the main crypto becomes more mainstream to the point that now institutions are getting in hard the more it becomes a political matter but I think its for a partial time frame, once official digital currency from China gets implemented on its 100% and same for the US then cryptocurrency will stop being acquired for political and power purposes and then they will go after the people who hold Bitcoin.

Besides the information provided by common media, blockchain analyst and local reporters have inform a somewhat different story to the victims restitution and potentially if the crypto currency confiscated still own by the goverment or some other institution.

Privacy Coins Will Skyrocket on 2021 - China Seize $4.2 Billion in Crypto Currencies Twitter Account @CryptoHerpesCat

Privacy will be a really important matter once this two official digital currencies are release on both global economy leaders, I had the idea that something big was coming in regards of price and fundamentals of the market and we did have some news that maybe for retail investors doesn’t matter that much in the immediate term but this past week we saw something that is not usual and its the tweet from Coinbase saying that the New York Times was going to publish some article to diminish their exchange and then a tweet from @brian_armstrong creating a thread based on the following statement

Privacy Coins Will Skyrocket on 2021 - China Seize $4.2 Billion in Crypto Currencies

U.S. Treasury and Secretary Mnuchin were planning to rush out some new regulation regarding self-hosted crypto wallets before the end of his term.

I think that all this factors are connected and are a direct thread to any cryptocurrency that doesn’t have any privacy features, at the same time we saw Binance last warning to US citizens to take out their crypto currencies out of their main exchange, NOT BINANCE US, if not they would loose it all.

The reason why I think this is all connected is because:

Binance primary exchange want nothing to do with US regulations, most of this because that’s is where their core gains are.
– Institutions going into crypto might be deceiving in a sense that they “want the crypto gains”, I really don’t this is the case its just probably in the meantime that the economy turns around.
– U.S rumors of regulation would be a direct thread to exchanges and individuals, the reason for this is to identify every single Bitcoin wallet as a large database because its on their best interest to index who owns crypto, the more of this information they have the easier is to track the flow of money.
– Global leaders seize large amount of crypto is not good for the market for two reasons: they can sell their coins anytime they want and potentially crash the markets or trade and manipulate the markets.

Why not all mega companies are NOT getting into crypto like Tesla, Google, Apple?

Politics, power and connections are bigger than money, all this companies are heavily into politics and control a vast amount of information and farm this data on daily bases, all this three tech giants have their own ecosystems with millions of users, its on their best interest to be on the side of centralize power and not decentralization. This kind of situations had happen before many times in human history where an economic system dies to then move into the next tech, we are probably living in the times that finally analog currency will die or becomes a hybrid with digital currencies and it will easier to track peoples assets to calculate their exact network to create a monopoly on top of digital currency.  Crypto was suppose to be created to be the opposite of central banks and middle man but if the U.S decides to regulate self hosted wallets for retail investors, exchanges and institutions then they will be able to accomplish the centralization of an asset that is suppose to be “decentralize” , what a irony, the answer for governments has never been to shut down cryptocurrency but just to track it there for shutting down crypto is not a necessity. Yes this are theories based on events that are happening but think about how will it affect cryptocurrencies that have no privacy features, if they manage to do this governments could also implements transfer fees, schedules and all kind of regulations that your bank already has when you want to convert crypto to their digital currencies and once you make the first transaction between their currency and your crypto wallet it will be automatically tag and track down, there goes your privacy.

You may think then we move into privacy coins but its not that easy if they some how manage to implement such regulations, this really concerns me and privacy is something that people invested in crypto doesn’t take in consideration at all, I have been into tech since 1994, at first the internet was a free place where your identity was almost 100% anonymous but with the creation of social media this was destroyed and not because social media is bad itself but how the data has been manage and the same will happen with digital currencies.

I made this article with the intention of letting people know how important is your privacy now days and it has been at risk for a long time, institutions and countries going into crypto was never a good thing but only for the price at first not for the fundamentals or the tech, yes 98% of us are here to make a profit but those profits can be taken away or diminish through regulations, rumors came out and the market panics and dump now what would happen if such regulations become official? You cant denied price was not affected because of all the events that happen last week.

What a rabbit hole.

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Good Luck, Thanks

Sources:

https://cointelegraph.com/news/chinese-police-seized-crypto-assets-worth-4-2b-today-from-plustoken-ponzi

https://www.cnbc.com/2020/11/05/1-billion-worth-of-bitcoin-linked-to-the-silk-road-seized-by-the-us.html

DISCLAIMER: The information Cryptoxicate.com or its media channels not limited to Twitter, Telegram, Discord, Instagram, Facebook, or any upcoming social media platform or internet search engine results is not financial advice. This information is for informational and entertainment purposes only. Any information provided are only and simple thoughts and opinions, you must not follow any of this thoughts and look for a professional financial advisor since we are not any type of advisors. Dont not get into crypto currencies since its a high risk investment if you do not have the proper guidance and any investment that you made is your own responsibility and no one else.

#bitcoinhalving #bitcoin #ethereum #cryptocurrency #blockchain #crypto #tron #nuls #hive #binance

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