The Spook of Privacy Coins

The Spook of privacy coins

Today’s post is a brief overview/summary of Privacy Coins and there use cases – This is Not financial advice.

Personally I’m a big fan of cryptocurrencies with privacy features, reason being is because I’m a Mind your own Business kind of guy, and I’m sure I’m not alone in this type of principle, you see I learnt a long time ago, that it is in a person’s best interest to focus on what they are doing instead of worrying on what others doing, especially when it involves money, now in the case of the blockchain and crypto currencies, the beauty of these types of Financial technologies (FinTech) is that they are decentralised and peer to peer, so there is no middle man between you and the person you are doing business with, its bit like cash, now as you may already be aware, most cryptocurrencies are transparent and open source, so all you need is an address and you can see its activity – which I don’t think is a problem, however, there are a lot of circumstances when privacy is vital and absolutely needed, and it is not necessarily for nefarious reasons, it could be for security/protection.

Some examples – a person could be running a business and the last thing they will need is a competitor watching their wallet and monitoring their transactions, because it will give the competitor an insight into their business dealings, another example is you could have an extremely wealthy individual, that for his or her own safety cannot let people see or know how much they are holding and what they are doing with it, because in doing so, could render them a target for all sorts crimes, like robbery, kidnap, extortion etc. and there have been number of cases recently where individuals with fat ass wallets have been identified by criminal gangs and either they or their family has ended up being kidnapped, for the sole purpose of extracting those cryptocurrencies.

I have heard people suggest that cryptocurrencies are used in criminal activity, such as money laundering etc, and I will admit yes this is possible and probably true to an extent, however, if you look into crypto currencies, the vast majority of people who own them do not use them for criminality, in fact, most holders are either Hodler investors or traders, criminals on the most part, tend use stone cold cash or some type of commodity like gold or diamonds, something ironic worth mentioning whilst we are on this subject is the banking world were pushing hard for a cashless society, and decentralised blockchains is not the type of cashless that they wanted or had in mind, so they need paper/plastic money more than ever for their own survival.

I have compiled a list of various privacy coins –
Monero
Dash
Nav
Zcash
Pivx
Verge
Digital Note
Komodo
Aeon
Zcoin
Linda
Electroneum
Spectrecoin
Cloakcoin
Tokenpay
Hush
Signatum
Zoin
These are not all the privacy coins that are in existence, these are just the ones I have personally looked into, some are better than others, and some are cheaper than others, and one of the things I have noticed, which is common in all cryptocurrencies is that they tend not to really advertise or promote their coins, which I think is a good thing, especially when it comes to privacy coins because like the old saying, an empty container makes the most noise, so its really down to the potential user to research and investigate which privacy coin will best suit there personal or business use in question –

The purpose of this post is not to promote but merely to inform those who are new to cryptocurrencies about the importance of privacy coins.

I like most of these coins, but several of them really stand out, but in this instance, one in particular, is worth me whispering about –

In my humble opinion, this is a (real mind your own business) Spook coin –
It has limited circulation, lightning fast, untraceable, community-based and you can earn rewards, also cloak coin uses advanced enigma encrypted cryptography alongside cloakshields that adds multiple layers of encryption that would again suggest in my humble opinion that this coin moves like a ghost in the night.

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