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1 Comment
Here's some information on privacy coins:
Unpopular Opinion on Reddit (by u/dragondude4)
I know people here like privacy, but if cryptocurrencies go mainstream then if have to be traceable. So many countries have one (or more) of theses problems:
Corruption in public procurement.
Political party funding with injustificated money
Secret lobby.
Narco-states.
Super rich who do not pay taxes.
Bribery.
And the list go on. And as example, look what happen in Argentina:
Former Secretary of Public Works (at the time) José López was found with a bag with ~ $ 9 million that was hidden in a church.
With Monero (as example) these things would never be public and corruption would go unpunished.
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Good response by u/stryker2003
Well I commend the balls to post this on the sub, fair play. However, privacy coins are here to stay, the government can only make their use harder. The utility will always be there.
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And good follow-up by u/DrToxo
This. Privacy coins may not ever become the de facto cryptos that nations use because of the issues OP highlights but we will always need privacy coins.
There will always be legitimate things that will need funding that an increasingly surveillance savvy government wont want us to do. Rebels and revolutions will always be necessary in some form or scale.
Privacy coins will be the oil in their machinery.
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In particular, I really like this quote: