**Always take in consideration non of this information is financial advice or official announcement from any specific project, I’m no financial advisor, trader or expert, this is just my personal opinion on certain project mention on this article, cryptocurrencies are extreme high risk assets and you must do you own research, never follow what I or other people say on internet**
Surviving privacy coins WXMR – BTC $250K Will BEG for privacy
It’s not new that we see governments and institutions trying to put their foot on top of privacy coins, the characteristic says it all “PRIVACY”, right now because of this most of the main privacy coins are not performing as I thought during this bull run.
We, Humans like to control what they fear and most of the time fear what we don’t understand, this was the case for Bitcoin a few years ago, many many big public figures from financial and big business sector came out on TV saying Bitcoin was going to zero, was a scam to even refer to it as “Rat Poison”, today I post on @DBuzz
I know there are always maxis out there talking sht about FIAT, Musk is the richest man without crypto, he probably bought some, hard work and focus on his companies put him there, crypto is not everything
Because I do understand that crypto is not everything and there are other ways to earn big money, I’m not a crypto maxy but ppl have been wrong about it because they don’t understand that the true backup even though I guess right it still not worth anything is the tech behind crypto/blockchain, I say is not worth anything because this is a 100% speculative market and that’s a beauty for traders.
Some of that horde that use to fear Bitcoin is the same that now fears privacy coins because they are not regulated mainly besides that it’s all speculation again, the fact that on some of this coins it’s almost impossible to track someone scare governments, crypto is supposed to be a decentralize space, within this space you should be free to do as you please with your finance and one option is to keep it private or at least part of it, most privacy coin users at some point move to other chains to transact so it’s not that they hiding its just they don’t want to entirely show their finances for many reasons and one of them is security, I’m going to sound like a broken record but there is no better example in crypto than what happen with the Ledger Hack, the internet is a very dangerous place, ppl think its all pink and social network this and video chat that but the reality is different, besides crypto it comes to mind the Ring cameras hack
Dozens sue Amazon’s Ring after camera hack leads to threats and racial slurs
Its call privacy, everyone is entitle of keeping their data private, crypto is no exception. Recently very close to the XRP SEC drama Bittrex decided it was a good idea to delist some privacy coins like Monero, Zcash and Dash (https://www.coindesk.com/bittrex-to-delist-privacy-coins-monero-dash-and-zcash) and its the same concept they fear what they cant control or dont understand, Bittrex proceed to delist all three coins no questions ask and without any reasons but we know how centralize exchanges like Coinbase and Bittrex are very tight to regulators, when I started on crypto my first exchange was Bittrex but then after Binance came out I migrate, last year try to use Bittrex with my old account and couldn’t because now they were asking me to KYC, it was not worth it since there were other alternatives already to buy Hive.
BTC $250K Will Beg for PRIVACY
Bitcoin retrace during this bull run will be hard, lot of broken dreams and tears, once big players start to take profit leaving a lot of bag holders but those who get out on time will be banking BIG TIME, with 1 Bitcoin you can now buy a Tesla, today I even saw a post where Bitcoin long-term holders since a 5 or 8 years ago are not paying for their parents mortgage, outstanding demonstration of the power of the crypto financial aspect, you loose 25 Bitcoin now days at all time high of $40k per Bitcoin and that’s $1M USD it’s not pocket change anymore, it’s not just internet money.
Come to play the accumulation of crypto currency in this case Bitcoin, we have talk about how dangerous it could be for anyone just saying that they have Bitcoin, telling the wrong person and it’s during this period of the bull market when mom and dad start buying crypto, when your “friends and family” ask you how many Bitcoins you have, $40k per Bitcoin is awesome, but what happens when someone finds out whats your wallet address and goes to the explorer and start passing this information, its not fun anymore right? so now for all this long term holders privacy will be a MUST, a way to accumulate more probably not for them but for their sons and daughters future, its not fun when you become a target because of human greed, it will take time for privacy coins to make a comeback and I dont think they are dead, there are some exchanges out of the US that still trade this coins like Binance (Love & Hate relationship), some of this coins like Beam are starting to come up with solutions for their users to be able to take part in other sectors of crypto like DeFi
Decentralize Exchanges will also list this coins eventually once their liquidity, lower fees, interoperability and other aspects get solved, recently BTSE create an ERC-20 token WXMR like WBTC (Wrapped Bitcoin) same goes for Monero trying to give Monero users an option besides DEX because during this year its my and probably their believe that more centralize exchanges will delist privacy coins, privacy is not something that just affects crypto its everything about us that we are not comfortable to make public, not because its something bad or ashamed, just because its everyone right to keep their data private.
BTW, anyone saying “but nobody use privacy coins”
19-year-old Ukrainian politician reports crypto holdings of $24M in Monero
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