Why Privacy Coins Matter: The Most Important Blog Post You’ll Ever Read
Pirate Chain has been kicking ARRRse these past few weeks, going from a few cents to 60c to $6 and then skyrocketing to around $17, correcting to $6 again, and stabilizing at $12, where it’s hovering now. If you knew about it, you could’ve made a killing, becoming an instant millionaire. But chances ARRR you didn’t because no one is talking about it. Because it’s a privacy crypto coin. And privacy, like autonomy, is baaahd.
In fact, the IRS has been trying hard to deanonymize privacy coins like Monero and Zcash for ages. Why? The same answer as always.
Money and Control. Let me explain.
Bitcoin and Ethereum, the two most well-known cryptocurrencies, have immutable and transparent blockchains that allow BTC and ETH transactions to be visible to anyone worldwide. It is also possible in some incidences to trace a person’s identity off-screen by investigating the sending and receiving addresses for those transactions.
This means two things:
- You can be tracked to pay taxes on your cryptocurrency
2. Your personal data is visible to Big Tech
Anyone that wants proof of how valuable user data is, needs only to look at the small number of companies that make up the technology industry’s oligopoly: Amazon, Facebook, Google, Alibaba, Microsoft, etc.
What do they all have in common? They all leverage our personal data to make money. They have been hacked before, and they’ve all come under the scrutiny of government agencies many times before. They seem to dominate so much of the technology, push the limits of privacy and ultimately commoditize individuals' ideas, thoughts, and actions.
Ironically, this is why old-school cryptocurrency advocates built Bitcoin –– to try and give the individuals power over their money and their privacy.
In today’s video, I tell you why this great intention has become an epic failure and why privacy coins like Monero and Pirate ARRR should play a vital part in your crypto portfolio –– even if you have “nothing to hide”.
The official narrative from bureaucrats and governments is that privacy coins should be banned as they may become a new and highly successful medium for criminal activity. However, for thousands of others living in economic instability, privacy coins provide an alternative to traditional currency, which is often at the mercy of capital control measures, which can sometimes restrict the flow of money to quite an extreme degree.
If you, like the team at Palm Tree Research, believe that your right to privacy is fundamental and financial privacy and the ability to transact with anonymity is central to the ideological origins of crypto, join us!
For more information on investing and profiting from cryptocurrencies and for using them to find more freedom and liberty in your own life, click here.
And don’t forget to follow Renegade News to discover the latest infringements and wins, in your pursuit of more freedom and liberty in this unfree world.