Dear Reader:
I wanted to take this opportunity to introduce you all to a new cryptocurrency. This one’s called Monero and it offers almost a total complete anonymity – something cryptocurrency fans and free society advocates consider of utmost importance
Monero was designed to mimic the features of cash in a, “…financial system that makes free societies possible,” the cryptocurrency’s team says. “In today’s legacy financial system, we enjoy a lot of privacy (you don’t see the accounts of anyone you transact with). This privacy is only broken by law enforcement upon suspicions of illicit activity. But, day to day, you and I can transact, and it would not imply visibility into one another’s bank account balances and activity.”
Monero was built in direct response to the unfortunate shortcomings of Bitcoin and tackles the inherent privacy issues of the world’s first cryptocurrecy. One of the essential features of cash is fungibility is the ability to exchange any one unit of a currency for any other. The privacy enhancements of Monero make it much more fungible than Bitcoin, which in turn makes it better digital cash. Bitcoin is fully transparent. Any teenager with an internet connection can know more about you — if you are a Bitcoin user — than law enforcement today if you are a fiat user. Monero is not transparent.
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Monero Outreach also argues that government agencies neither need, nor are entitled to, complete access to an individual’s financial data, but only need access to credible records when specific circumstances call for it. The developers say that this is possible with Monero. One can provide the necessary documentation if asked, but the IRS cannot access any of the cryptocurrency user’s financial data. Again, this feature mimics what we already have today with cash and the fiat financial system: anonymity.
While many deride “privacy” cryptocurrencies as “bad” because people conduct criminal activities with the currency, fiat cash is still the currency of choice for criminals and of course, the Federal Reserve isn’t looking to ban themselves!
All of this isn’t to say that Bitcoin is a “bad” cryptocurrency either, so let’s not mince words. Bitcoin is doing quite well and will continue to do so as the volatility in the markets continue to push it upwards. But that could be said for Monero too. And Ethereum. The selling points of Monero are more than apparent!
Could Monero be a good investment? Possibly! But as of right now, there’s so way to purchase the cryptocurrency with fiat money. You will need to have some other form of cryptocurrency, such as Bitcoin, to make a transaction.
But with privacy concerns front and center in the United States right now, Monero could be the new cryptocurrenty to crash onto the scene and make waves bigger than ever imagined!
Will it go sky high like Bitcoin likely will? Maybe! And who knows, perhaps this will push other cryptocurrencies toward the idea that the protection of personal financial data and purchase anonymity is a cornerstone of a free society.
Best Regards,
James Davis
FutureMoneyTrends.com
93% Of Investors Generate Annual Returns, Which Barely Beat Inflation.
Wealth Education and Investment Principles Are Hidden From Public Database On Purpose!
Build The Knowledge Base To Set Yourself Up For A Wealthy Retirement and Leverage The Relationships We Are Forming With Proven Small-Cap Management Teams To Hit Grand-Slams!
