With the bombshell dropping from the US Treasury which threw some heavy sanctions on the privacy protocol on Ethereum, Tornado Cash. This protocol is a coin mixer that helps users keep their transparent transactions private by ‘mixing’ the coins. Well you know the US government is not going to stand for this!
So under the guise of ‘national security’, they listed MANY Ethereum based addresses that have been linked to Tornado Cash. Not only that, but the open source code for the software was taken down by Github, which adds a whole other layer of stink to the mix. Many USDC and USDT holders were locked out of their funds and their addresses were blacklisted.
This shows an inherit flaw in the ‘transparent’ database system. Bitcoin is not any better, you can have an exchange freeze your coins because they may have once been used in nefarious purposes before you acquired them. You may not have done a thing, but if they were to trace the origin back to say the Silk Road, and you were to put those coins on Coinbase to sell just to do whatever, again, not knowing the original origin of the coins, you can have your fund seized.
War On Privacy
As we know, they elite of the world do not want us having any privacy. The over reaching surveillance state has gotten out of hand, and we have people in high places that are really sick, narcissistic reptiles that want to bleed you dry of everything you have, including your basic human right to privacy.
This recent move with Tornado Cash and the blacklisting of these addresses by Circle and Tether because of threat of violence and extortion from the government shows that your funds are not safe when using those types of coins or services. And it goes beyond just your money, but that goes down a completely different rabbit hole, so we will just stick to the topic at hand.
Privacy Is A Basic Human Right
Privacy is not just wanted by criminals. It is a basic human right and everyone should value their privacy. The argument that you don’t have anything to hide is complete nonsense. The goal of the elite is to be able to track everything you do, everyone you talk to, where you go, and what you spend you money on. It’s really quite sickening. But here we are and there are so many people that are just okay with it.
If you are okay with everyone knowing everything about you, well, just stop reading this now and go get screwed by your local bankers, advertisers, and politicians. But if you value your right to privacy and financial security, then let’s talk about Monero.
As Bitcoin was created to be the digital peer to peer cash system, it hasn’t quite lived up to that. The Bitcoin devs and maximalists took it a different direction and it has become more of an investment asset than a currency. Not to mention, it is completely transparent, which as we are learning is why the government is okay with it, and Ethereum, because the data can be scrapped and used to ID people in various ways.
Well, Monero was created for just this very reason. It is a privacy coin that cannot be traced. You cannot see how much is in my wallet and I cannot see how much you have. The transactions are also sent via stealth addresses and using what is called ring signatures to make the transfer untraceable. This makes it the king of privacy coins.
Not trying to get into the technical aspects of Monero, but I do want to mention that the IRS has also had a bounty out for a couple of years now of over $650K dollars to anyone that can crack Monero. Hasn’t been done.
Monero, unlike Bitcoin, is ASIC miner resistant and is mineable on really any CPU which makes it more decentralized than Bitcoin at this point. Bitcoin is mined mainly by corporations and bigger players at this point because the equipment is really out of reach for most average people to purchase, or even afford the electric bill at home. Plus who wants a loud, hot miner in their house or apartment? But, if you can just use your existing computer and put it to work while you are not on it, it can be mining Monero directly to your private wallet!
The development team is mostly anonymous and decentralized as well. Sure we all know the creator, Fluffy Pony, but he really has his own issues he is dealing with at this point and is not even involved right now, but that hasn’t stopped Monero from moving forward. If Satoshi were to finally step forward and move any of the Bitcoin in that known wallet, the anon narrative of Bitcoin is done and the market will not react well. This can’t happen with Monero, because we don’t know who owns what!
Monero Is Digital Cash
Cash is king. Sorry to tell you degens that, but it’s true. Cash is still the most private form of transaction, at least in physical format. Monero comes in as the most fungible crypto because, like cash, you can’t trace it or its origin. This makes it the ultimate digital cash.
We are seeing more and more issues with the ‘programmable money’ narrative, because it can be easy to manipulate smart contracts and exploit them for any vulnerabilities. DEFI platforms constantly getting hacked and drained, and now we have addresses getting blacklisted by the government completely.
This is why, not financial advice kids, that I take any of these high inflationary tokens like DEFI reward tokens and immediately exchange them into assets that cannot be easily hacked. At this point that has me down to 4 assets, Bitcoin, Monero, Hive and HBD. Most other assets, I am not really trusting at the moment.
## Bridges Are Dangerous, Don’t Follow The Herd
Like your mother used to probably say when you got in trouble for following the crowd, ‘If they were to jump off a bridge, would you do it too?’ Same goes for investing and protecting your money. I see all the time people trying to argue that this chain and that chain is the best because of the volume being pushed, which is the amount of money flowing into the asset. That is nothing but ‘following the herd’ mentality. Just because there isn’t a ton of money flowing into Monero doesn’t make it any less valuable than Bitcoin. Monero has way more value added as it is the key to being able to transact in a private manner with nobody lurking around on a block explorer. So don’t follow the herd off the bridge, protect yourself at the base level!
You need to do your own research and figure out the best place for you and your assets. If you are okay with being tracked, traced, and databased, then continue using things that can be blacklisted, or better yet, just go trade on Robinhood and be done with it. But, if you reject the Great Reset narrative and believe that your privacy is a basic human right, and not a privilege, then you might want to take another look at Monero.
Nothing said is financial advise.
This is for educational and recreational purposes only!
Stay safe in these volatile markets and don’t get rekt!
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