Are Privacy Coins, The Future of Cryptocurrency?

I think keeping a coin private is near to impossible. Imagine, you have mined a certain cryptocurrency for a while and now you have $1 billion worth of coins in your wallet. How could you withdraw the money without revealing your identity to the centralized banks or ATM cameras.

Most websites like eBay, amazon, etc. have all our information stored in their data centers for the government to get access to our records. We share our personal information with these websites, because they deliver items to our door. The blockchain and the website might be secure and anonymous, but the delivery guy isn't. Only exception to this would be websites that sell online services like video streaming, domain name seller, etc. which could be done privately using the secure and decentralized blockchain technology.

It doesn't matter how much money you have vested on these cryptocurrency. When it comes to cashing out or spending the money, government can easily track us and tax us. Unless someone prefers to use the deep/dark web and get the purchased items or the converted fiat cash delivered to their door by some delivery guy, who is anonymous to the world and has no records stored of his identity anywhere in the blockchain or the internet.

I would say, it would be better if blockchain developers stopped wasting their time and resource, trying to fool the government. Instead, if they spend the same effort into developing a blockchain that can be easy for any grandma to understand and something that can help solve a real world issue. Only a few are trying to do this at the the moment and I hope the future is bright for everyone in the blockchain sphere.

In my future posts, I'm planning to write a blog on the issues that blockchain developers need to focus solving and also a blog pointing on some of the best cryptocurrencies out there, which could have great potential for investment.

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