Home Altcoins News Bitcoin (BTC) Will Flee Quickly into Monero (XMR) Once the Market Collapse Begins

Bitcoin (BTC) Will Flee Quickly into Monero (XMR) Once the Market Collapse Begins

Bitcoin (BTC) Will Flee Quickly into Monero (XMR) Once the Market Collapse Begins
  • Restore privacy with XMR
  • Monero Better than Bitcoin
  • Bitcoin Vs. Monero

Privacy is becoming a critical necessity for the well-being of an individual.  Cryptocurrency as an innovation was primarily meant to be about privacy. Despite, privacy is hard to come by for those who use cryptocurrency and also for everyday people.  Innovators in the cryptocurrency space are always looking to fight out privacy. They are doing their best to restore privacy.

Banks require that people trust them with their private information.  Governments and corporations do not like the element of privacy being granted to individuals.  Governments and corporations collect private data without the knowledge or consent of the individual.  The idea of privacy that the “cypherpunk movement” wanted does not exist in the cryptocurrency space, except for a few privacy coins who strive to sustain the privacy principles.

ASPECTS OF PRIVACY WHICH MONERO GUYS BELIEVE IS RIGHT – FROM REAL PEOPLE REAL TIME

Cynthia Lummis:  I believe in the right to privacy.

Tim Brown:  Be so private they can’t do nothing but assume.

Essential Mastery:  Be private. Not everyone wants what’s best for you.

Wealth Inch:  I prefer a small circle and a lot of privacy.

Naomi Brockwell:  If you’re pushing for a technology that pushes against political and social norms, privacy absolutely needs to be a core principle of that technology.

Wise Chimp:  Stay low key. Privacy is Power.

Dandelion Smith:  There will be too much demand for private digital currency, people are completely unaware to the amount of use cases. Nobody is going to really use other private crypto either. Monero is the default.

Why is Monero Better Than Bitcoin?

Recently COINBASE: “The addresses have been shared with the US government to “further support sanctions enforcement.”

Coinbase Shared 25000 accounts linked to Russia to Support Sanctions.  And, therefore, privacy advocates believe that Bitcoin is a useful tool for an Authoritarian and its lack of privacy puts its users at risk.

CoinDesk expressed:  Even as regulators and exchanges seek to limit their adoption, privacy coins have a firm hold within the larger cryptocurrency community. Monero XMR embeds privacy into its protocol, setting it apart from other coins.

BITCOIN VS. MONERO

John Foss:  Monero is a truly decentralized and private cryptocurrency that can be mined on a home computer, thus negating any fears of authoritarian pressure. Battle hardened since 2014. Currently facing the same pressures as Bitcoin in 2015. Up only from here for XMR.

John Carvalho:  Bitcoin is infungible. Coinjoin does not work. If you are a target, it is nearly impossible to hide your BTC and ever be able to spend it. Accept this.

In Conclusion Believers of XMR are like:  Bitcoin will flee quickly into Monero once the market collapse begins. Watch for exponential declines in $BTC prices and concomitant increases in $XMR valuations. The value of privacy dramatically increases during hard times.

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James

James T, a passionate crypto journalist from South Africa, explores Litecoin, Dash, & Bitcoin intricacies. Loves sharing insights. Enjoy his work? Donate to support! Dash: XrD3ZdZAebm988BfHr1vqZZu6amSGuKR5F

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