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RE: Adsactly Tech News - Cryptocurrency Users May Find More Value Through Investment in Privacy Coins!

in #cryptocurrency6 years ago

The concept of Monero is completely contrary to the requirements for the legalization of cryptocurrency, as a new financial instrument. In addition, because Monero is a danger, namely, complete anonymity is the key to illegal funding of potentially dangerous organizations, lack of accountability does not allow controlling the flow of funds and lastly, the system of work, including encryption of the data chain, completely contradicts the principles of security.
It turns out that the integration of Monero at the state level is completely excluded. In addition, the cryptocurrency is a potential danger as a tool for financing terrorism, which means that it will first of all attract the attention of regulators. Getting government action against Monero is probably only a matter of time. In order to create any attempts to limit the vital activity of the system, powers are needed leading to the need for complete legal regulation of the field of cryptocurrencies. In any case, efforts are being made to integrate a new financial instrument throughout the world.
It seems to me that the following scenario is quite possible in the future. Cryptocurrencies that are set up to cooperate with the government will receive a certain degree of legitimization, and Monero will become, as it were, an underground tool for payments.

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Your points are valid but you are forgetting to mention the counter argument which revolves around privacy. How do you buy things and ensure your privacy is intact well for the most part people use cash. But it is a known fact that superpowers are set on removing cash from the equation. Without cash they have more control. Control is key when you operate a global economy of smoke a mirrors and print money endlessly without having a true underlying value backing it. Cryptocurrencies that allow users to remain completely private are vital to freedom. This point cannot be ignored!