Bytecoin versus Monero: “Ease of Use”

Bytecoin - Copy


Ease of use.

One of the aspects of cryptocurrencies which seems to confuse a lot of people is the idea of “atomic units.” The separate parts of the coins, so to speak. Debates rage across the Crypto-sphere.

In other words, just how many actual individual units of a particular cryptocurrency are there and how can this change the value or the perceived rarity of a coin? And does it really matter?

We’ve all read about Bitcoin. At least those of us who find Fintech interesting. No more than — approximately — 21 millions Bitcoins will ever exist.  But the number of actual individual “atomic” units is different.

Bytecoin and Bitcoin used the same definition of what one “coin” should be: 10^8. In actuality, however, Bytecoin has 10^64 atomic units, which is the same as Monero. That is the money supply. The “M1” if you will. Monero simply decided to move the decimal to the left.

All of this is not to stir debate as much as it is to appeal to the human in us. What would you rather have? Whole numbers or fractions of numbers when spending your funds? When investing? More numbers seems better, sure. But fractions of numbers?

As Monero increases in value, each atomic unit becomes more valuable. This is the same with Bytecoin or any cryptocurrency.  The only difference are “whole” numbers. So ask yourself these questions, as a user of cryptocurrency:

What is easier to calculate and understand quickly?

Whole numbers or fractions of numbers?

This can be looked at another way.

If each Monero is the equivalent of $50 and you want to buy a soda, how much would it cost? Say the soda is one U.S. dollar. That would mean 1/50th of a Monero or about .02 (point 02) XMR’s gets you that drink — alcohol is extra. Say a dash of vodka costs .1 (point 1) XMR’s. (I know — cheap vodka.) So .12 (point one two) is your total cost. Well, then there are taxes and other fees. Let’s say your total bill is .1290 with a 7% sales tax and other fees. There, we’re done now. Hand over your fraction.

Bitcoin calculations are similar, but their fees seem higher.

Now let’s try Bytecoin. At about 1/3rd of a cent each, you would need about 300 Bytecoins to buy a one dollar soda and at least 1500 more to add some cheap booze. If Bytecoin continues to increase in value, these numbers will fall. For example, if Bytecoin increases in value to the equivalent of one U.S. penny or .01 cent (one cent), your one dollar soda is now 100 BCN. With vodka? Say 600 BCN. With taxes and fees? Say 650 BCN.

It would  be easy if you were Japanese since one hundred yen is roughly one U.S. dollar. They would “get it.” For those of us in the U.S., it would be nice if BCN could value to about one dollar. In that case, we would “get it.” One BCN for one soda.

My point? What is easier to understand? Fractions or whole numbers? It’s your choice, but do not fool yourself into thinking you are actually spending less money. It’s all relative. Emotionally, we might feel better when we keep to the low numbers, to fractions, but in reality, we are spending the same amount of money.

There is another supply difference as well — between Monero and Bytecoin.  Bytecoin’s money stock recently increased do to a flaw. It added an additional 693 million coins, before the flaw was fixed.

Perhaps Bytecoin learned from Ethereum’s mistakes. They chose to keep the original blockchain intact when faced with a problem. If you recall, after Ethereum corrected their issue, purists then launched a clone: “Ethereum Classic. ” The community then split.

 

 

Advertisements

Is Bytecoin Making a Comeback?

Bytecoin - Copy

Over a year of relative silence and now Bytecoin is making a comeback?

Many cryptocurrency enthusiasts noticed on or about May 17, 2017, when the following “blog” was posted on the Bytecoin website, the value of said currency jumped. This may have been a coincidence, however, since a lot of other cryptocurrencies also surged and then unceremoniously lost over half their gains.

Here was a recent headliner:

Untraceable Tokens

Cryptocurrency market has been developing drastically, bringing more and more innovations to explore. The Bytecoin team understands the importance of keeping a finger on…

The point was: “activity.” We finally had some. But why the delay?

Many of us had written-off Bytecoin when they stopped minding their forum. It became bloated with advertisements and there did not appear to be much activity — or easy to find information.

Others of us have read the profanity laced debates on the other forums about the alleged deeds of the bad Bytecoin developers. Was it true?

Here is the link:

 Blowing the lid off the CryptoNote/Bytecoin scam (with the exception of Monero)

Bytecoin allegedly forged the dates on their whitepaper(s) in order to make it appear as if they had completed a fair release. Meaning, to be fair, you must work hard and allow every “miner” access to your product at the same moment. (Not fair to the developers.)

Bytecoin creators may not have fairly given away their invention and instead, allegedly mined over 80% of their own coins before letting anyone in on their plans. In any event, the coin languished. Relegated to the heap of junk coins, but it never quite died. Just hung out. Waited.

Months went by. Then years of anemic trade. Few if any improvements came. Bytecoin’s Github account was boring. Then lately, after bit of a screw-up — more activity. Somehow a bit of mining software allowed someone to mine extra Bytecoins. This was fixed (allegedly), but still, Bytecoin was accused of not taking action quickly enough.

Actually, the accusations flew.

Monero supporters hinted the Bytecoin developers intentionally mined extra coins using a flaw in their system. Bytecoin supporters then retaliated. Monero supporters knew of the flaw, they said, and took advantage of it. They created more Bytecoins and used that as leverage to expose Bytecoin’s flaws. Why? To sew distrust. Make Bytecoin look bad. Turn the community against them. All of the above.

Once the dust settled, it was back to the business of smear. Monero, with all of its improvements of the CrypotNote or CryptoNight Protocol (Algorithm), against Bytecoin — which dared to rear its scammy head once again. It was the original CryptoNote against the (allegedly) new and improved CryptoNote.

The Bytecoin pre-mine allegations are still there as well.

These days, ICO’s (Initial Coin Offerings) and pre-mines are commonplace. The results are mixed. Some developers fly the coop with the cash and some actually continue to tweak their coins. Some monitor their Github accounts making changes to at least let us know that they are still around.

Monero was not pre-mined, according to their documentation. They were a community driven program, forked originally from Bytecoin and after a some early growth pains  (community internal disagreements) a certain sect ended up with the keys to the code. Today, Monero enjoys a relatively stable existence, enjoying recent valuations, even if they do not have the best “wallets” or mascots.

If Bytecoin did “pre-mine,” within the last week they may have covered their initial expenses. In other words, the pre-mine has helped to support the development of Bytecoin. Unless, like the Monero supporters claim, Bytecoin will simply dump their coins and leave everyone hanging. So far, they appear to sticking to their guns.

Bytecoin has experienced a massive resurgence on one exchange especially: Poloniex. But the trading, other than having lined the pockets of Poloniex, since they charge for the service of trading, is missing something. And that is the ability to deposit or withdraw any Bytecoins. Currently, you can only trade Bytecoins with other cryptocurrencies on Poloniex. All I have been able to verify so far is that Poloniex is performing  “maintencance.”

If Poloniex finally re-enables Bytecoin it could be seen as a vote of confidence. Perhaps we should all realize that Poloniex just wants to earn a profit, however. Keeping the customer happy and the money flowing is a no-brainer. If they think Bytecoin is too much of a distraction they could delist it.

One hopes that Poloniex is watching Bytecoin closely. Certainly they can see who owns the most of Bytecoins on their exchange. If a large player has made some attempt to dump or trade enormous amounts of Bytecoin, they should know about it.

Where will Bytecoin go from here? Your guess is a good as mine. We have a nice, easy to use software wallet.  One which has always worked for me — and apparently renewed interest in the coin itself.

Volatility is an issue now. Bytecoin, if the past is any teacher, may be cutting its teeth on the “whales” right about now. Big ups and downs. Money is certainly changing hands.

The question is, are the users getting pummeled at the expense of the anonymous developers of Bytecoin or are unrelated parties just having fun with all the investors trying to pile on?

As always, time will tell. If privacy and security gains traction, Bytecoin could be sitting pretty.

 

(Note: This author is not associated with Bytecoin.org or any of its developers.)

Will Coinbase Survive?

(Updated)

This seems to be the burning question…

Will Coinbase Inc. survive one of the most unprecedented moves by the Internal Revenue Service (IRS) in recent years — its overreaching and unreasonable attempt to search and seize millions of private financial records and kill bitcoin — our digital gold?

It’s nothing new. They’ve done it before. The IRS has gone after deep pockets. And they are doing it again.

Deep pocket in question: Coinbase. But not all that deep.

Coinbase – according to their website:

 

  • Founded in June of 2012
  • Digital currency wallet and platform
  • Merchants and consumers can transact with digital currencies
  • Currently offers bitcoin and ethereum
  • Based in San Francisco, California       

No doubt the IRS has been investigating cryptocurrency exchanges for some time. The Coinbase investigation is just another domino, in a long line of dominoes, from the United States to China, from Russia to Australia and beyond. The very public Coinbase investigation is meant to strike a very real financial fear into the hearts of the American cryptocurrency enthusiast.

According to the Coinbase website, they have about 5,000,000 users on their platform. These users have 11,000,000 electronic wallets, which may or may not actually contain bitcoin or ethereum cryptocurrencies. Add to that mix, 45,000 merchants utilizing their platform and thousands of software applications from developers.

Again, according to their website, over $5,000,000,000 in cryptocurrency has been exchanged on Coinbase. The number is high, but are we talking about fours years of exchanges?

Coinbase is also in over 30 countries worldwide. Which means that only portion of profits and losses were had by Americans. Which means that foreigners probably owe the IRS money for doing business with an American Company. Foreigners who will now likely ignore the IRS, but whose banks and financial houses will likely not.

Why? Just ask UBS Bank in Switzerland. No longer are Swiss banks the go to gurus for wealth management and privacy. The IRS went after those who failed to report their foreign bank accounts at UBS, cited them for filing false tax returns. The result? Millions of dollars in fines, federal probation and prison sentences.

And the list goes on. We’ve all heard of the Panama Papers, where another two trillion dollars sought a tax haven, but a data leak exposed the process.

But why did the IRS investigate such a small company? Coinbase Inc. and UBS are like the proverbial elephant and mouse. With over two trillion in assets, UBS had far deeper pockets. Look at the larger picture.

UBS took years to accumulate the wealth it managed. Bitcoin transactions or sent bitcoins in 24 hours, approaches about 1.5 million  — in bitcoin. In today’s dollars, it would take over two years, at that rate, to send a trillion dollars worth. Not even Panama Paper worthy.

What about the world’s biggest holder of bitcoin? It’s probably still the million bitcoin owned by Satoshi Nakamoto. Current dollar value? It fluctuates, but as of January 1, 2017 it approaches a cool billion dollars.

Eliminating the non-U.S. based cryptocurrency exchanges would certainly help plug the fund hole many banks are no doubt reporting. How many wealthy citizens are moving their money, not to foreign lands, not under the mattress, but on a ledger kept by millions of people the world over. Then going abroad to trade that cryptocurrency for local currency or other property? Maybe.

Another hint that things are not what thy seem? Constant dribbles of news about how companies like Circle are jettisoning bitcoin sales, but are also continuing to investigate the technology behind bitcoin. Whose on their side? Goldman Sachs Group Inc.

Given just these brief snippets of information, can we assume that the IRS will also apply the foreign bank rules when American bitcoin users choose to hold their bitcoin in online wallets abroad?

In the end, if Coinbase continues to deny the IRS access to essentially all user records, expect a raid on the main offices in sort order and frozen accounts, as a result. It would be advisable for one to remove any cryptocurrencies stored at Coinbase. It would also be advisable that Coinbase encrypt all user account information and hand the keys over to their customers. At that point, only banks would have information as to who sent money to Coinbase.

Alas, the hope that Coinbase would keep customer accounts private and not allow the IRS access, is a mere pipe dream. People would need to go to jail or flee the country and be chased by the Feds for the rest of their lives. Not worth the sacrifice, unless these people have the backbone of Thomas Jefferson and pledge their freedoms — and fortunes.

If anyone thinks this is no big deal, think again. One of the largest cryptocurrency exchanges on earth is about to go down — in the land of the free and the home of the brave.

Next on the agenda? Bitstamp? Kraken? Poloniex? Just wait.

(Image compliments of flickr.)

Bitcoin: On the “Chopping Block?”

The motto for Fintech is improve — always innovate — or die.

Think, Steve Jobs.

But is Bitcoin innovating? Can it survive?

Bitcoin is not managed by Satoshi Nakamoto, who may or may not be Craig Wright. The mysterious inventor of Bitcoin is uncertain.

What is more and more certain is that Bitcoin is edging closer and closer to an apparent disaster and many are holding their ears — and virtual bags of coins.

Ignore for a moment, that Bitcoin is nothing but cryptography. That it has no backing in gold or official sanction by major governments. Assume that it’s just trust that makes it work. Assume that it will not crash in value overnight.

Let us suspend belief still further. Ignore our instinct to put a physical face to Bitcoin. Allow the argument from the intrinsic to sort of drift into a nearby room — and wait there whilst we examine a more glaring problem.

Here it is…

The viability of Bitcoin — the software. The system. The fees. These issues are glaring at us.  There is sign post ahead, just like Rod Serling told us…but this one is flashing madly and the sirens are wailing.

Bitcoin developers have warned us — are warning us. There are serious problems with Bitcoin. Be prepared.

According to Kyle Torpey at Coin Gecko, Bitcoin must improve soon or it could be surpassed by Ethereum.


Gavin Andresen believes potential Bitcoin users may look at alternatives, such as Ethereum, if the block size limit is not raised soon.  — Kyle Torpey (May 31, 2016)

Source: Gavin Andresen: Ethereum Rise a Warning to Bitcoin


Torpey advised that Gavin Andresen, who remains the Bitcoin Foundations’s Chief Scientist, but no longer one of its Core Developers, supports Bitcoin Classic.

It’s a better Bitcoin, Andresen advises.

Who supports Bitcoin Classic? Maybe 5% of the users. That’s it. So it’s not popular. It may even be less popular now that Andresen supports the ‘Craig Wright is Satoshi Nakamoto Theory.’

Bitcoin Classic, if implemented, would increase what is known as the blocksize. In fact, if Bitcoin does not innovate soon, it is probable that investors will begin to diversify their crypto-portfolios voluntarily.

Why diversify? The simple answer is to protect one’s investment. The real answer is probably even more basic: Fear.

Fear that Bitcoin will crash — permanently — or fear that some wanton hacker will abscond with their Bitcoins.

There is even a deeper dread. One I have discussed in my recent blogs — privacy.

Bitcoin was not built for complete privacy, but they are working on it. Maybe, if the current developers fix the block-size issue, before it’s too late, they can fix the privacy problem.

Don’t hold your breath.

Perhaps privacy won’t matter anyway. Bitcoin is slowing. It’s running out of fuel.

Mike Hearn has stated that Bitcoin is a failed experiment. Hearn has since moved on.


I’ve spent more than 5 years being a Bitcoin developer. The software I’ve written has been used by millions of users, hundreds of… has failed…  — Mike Hearn (January 14, 2016)

Source: The resolution of the Bitcoin experiment — Medium


Hearn cited many reasons for Bitcoin’s failure. From the concentration of mining power in China to the fact that 10 people actually control it. Fees are unpredictable, Hearn said — and on the rise.

But these are just a few of the problems plaguing Bitcoin.

So what happens next — given the circumstances?

Which crypto’s are likely to see surges in volume, if Bitcoin slows to a crawl? That is the million dollar question.

The answer, according to some, is to look at the popular crypto’s waiting in Bitcoin’s wings?

Two come to mind. Litecoin, a staunch ally in this Fintech war of money — often touted as the silver to Bitcoin’s gold — may morph into the new Digital Gold. It could, potentially, unseat Bitcoin.

But this is not what Gavin Andresen warns, according to Torpey. Andresen thinks that Ethereum, which has a higher trading volume than Litecoin and is now favored by several major exchanges, is the ‘up and coming’ crypto.

Okay, that is a taste from the developer side. What about the business side?

Many banks and investment houses, ignore Bitcoin entirely. They don’t pay homage to Bitcoin, but are, without a doubt, experimenting with the technology.

These “blockchain” enthusiasts, to include the government of Russia,  want to create their own ‘official’ versions of crypto.

But some investment gurus still see promise in Bitcoin, presently. They seemingly ignore the warnings, set aside the intrinsic value question and watch the flow of funds.

Technical analysis of the U.S.Stock Market leads many to believe that it is currently overvalued. That investors should move into cash holdings.

Chris DeMuth Jr., says as much in Seeking Alpha.


Stock market prices are high. One should have plenty of cash. Bitcoin is one way to diversify cash. — Chris DeMuth Jr. (May 31, 2016)

Source: S&P 500 Top? An Idea For Pricey Markets – SPDR S&P 500 Trust ETF (NYSEARCA:SPY) | Seeking Alpha


A debate comes then. Is Bitcoin a good form of cash? Well, there are U.S. Dollars, which seem to hold a bit of value, at least over the last few years; but that Bitcoin thing — it looks so shiny from the outside.

According to DeMuth, at least 10% of your cash holdings should be in Bitcoin.

Is there a disconnect here?

On one side — the Gavin Andresen side –there is a warning. Mike Hearn seconds that warning. He also advised that Bitcoin has failed. Both of these developers are in-the-know.

The determinations made by Andresen and Hearn could even be termed the fundamentals of Bitcoin. Meaning, a report of its inner workings, it users, miners and overall functionality. The bedrock of the system, so to speak.

On the opposite side, perhaps basing their advice to invest, solely upon the technicals –the numbers — are the DeMuths of the world. But technical investigators don’t necessarily look at managerial aspects or what’s happening at the human level, within a company.

Technical guys look at the product, the profits and the numbers. These ‘indicators’ provide a reasonable picture of potential profits and how best to leverage one’s investment therein.

If we simply look at technicals, Bitcoin is a ‘buy,’ they advise. The analysis indicates it will soon surge or at least maintain its value. And yet Bitcoin has often defied technical analysis. Gained when technical market indicators said otherwise.

Perhaps Bitcoin defies technical analysis because it is a new type of company. The idea of course, was to have Bitcoin be “decentralized.”

Yet Bitcoin has become more rigid with time. It gives outward appearances of being centralized. It has a large a mining base in China — a place not known for government non-intervention.

The future of crypto, in this writer’s view, is not Ethereum, unless it adopts privacy features. We may see, in the near term, surges in the price of Ethereum and Litecoin, if Bitcoin stumbles or loses the trust of the masses. But these surges may be temporary.

It is hoped, by many, that Bitcoin will find its way. If Ethereum or Litecoin fills the void, so be it.

In the mean time, many of us are looking in a more secure direction — available now. Where block-sizes and security are not an issue.

Monero is one such crypto and it is essentially, still on the ground floor.

 

 


Featured Image: Photo by: By Chmee2 (Own work) [GFDL (http://www.gnu.org/copyleft/fdl.html), CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0/) or CC BY-SA 2.5-2.0-1.0 (http://creativecommons.org/licenses/by-sa/2.5-2.0-1.0)%5D, via Wikimedia Commons

“Private” Digital Gold

Blog Updated: September 18, 2016


If you want to “pan” in private, it’s not Bitcoin.

What’s in your “pan?”

Digital Gold should be private.

So why would you “pan” for cryptocurrencies in full view of every person on earth? Wouldn’t it be nice if you could “pan” in private?

So which cryptocurrency is best?

But it depends upon your view of reality — your worldview.

If you feel that all financial transactions must be public, then Bitcoin, Litecoin – even Ethereum – are good choices. As is government cash.

Even physical gold is great — a sound money, unless it is confiscated by governments. Unless history repeats itself. What, you think you live in a perfect world?

How about I give you a gold coin and you give me, say $1200. Thing is, there’s risk involved. I need to carry my gold around with me. You need to carry your cash. Then we need to meet. All risky.

So we often just carry our cards. The little plastic things with microchips or magnetic strips. Still, there is risk. Theft, cloning, hacking into retail chain servers, etc.

And that harks back to your opinion of financial institutions, as well. In the modern era, even banks are extensions of government policy. Privatization has taken a back seat to the Welfare State.

Would not a cryptocurrency be better than one’s national currency? Sure it would, but which one?


Capital Flight v. Pump and Dump

As of June 9, 2016, Bitcoin is still in “surge mode” and the potential for profit is difficult to ignore. But it appears to be waning again. It’s off its highs…again.

Perhaps it is the capital flight from China. Maybe the problems in Argentina are giving Bitcoin the boost. Both assertions seem reasonable. But are they only temporary? It’s anyone’s guess — educated or not.

In the past, Bitcoin spiked in value. It was thought that the Cypriot mess caused the surge. It has also been suggested that false buying signals had been sent by large Bitcoin exchanges. Mt. Gox for example.

In any event, after Bitcoin spiked in 2014, it retreated. Still, it has not yet fallen to its previous lows.

When was the last time Bitcoin was valued under one dollar? Prior to 2014. Since that time, Bitcoins have consistently been worth hundreds of dollars each.

But it has only been a few years. Many concerns still exist.

The infamous “Pump and Dump” schemes bother many. Notorious when it comes to cryptocurrencies.

“Pumpers,” often called “whales,” purchase large amounts of a particular crypto and entice other buyers into the market. It’s an old game.

The “Pumpers” then sell hard, suddenly, if there is enough liquidity, and leave the “bag holders” slack jawed. Their bag of crypto-coins suddenly worth less than zero — since there are no buyers. Later the cryptocurrency goes belly-up and a few days later a new coin is hyped and “pumped.”


Regulation and the Taxman

Governmental regulation is another reality. Governments outlaw private currencies. Drive up the prices and thereby encourage the criminal elements – indeed, create criminals out of common citizens.

In a way, although not illegal in many countries, cryptocurrencies exist in a surreal world, where they are respected by the Fintech community, but often disdained as quasi-gamer monies, by parents yelling at their kids, who are up all hours each summer night trying to mine a few dollars worth of electronic wonder.

Taxation is yet another issue. How much will one owe (in the U.S. especially) when one sells, trades or uses Bitcoins? Can the revenue service track Bitcoins?

One new alpha stage cryptocurrency is even attempting to develop and “sell” a completely transparent altcoin. It’s called Taler for “Taxable Anonymous Libre Electronic Reserve.” It’s Richard Stallman’s project.

Don’t discount Taler just yet. It appears to solve the taxation dilemma, but it’s still in development. It would be a perfect cryptocurrency for a country without privacy laws. If governments can peer into your every purchase, account, expenditure ad infinitum,  just where is Stallman going with this? Oh, “Big Brother.”


Bitcoin Tracking and Wealth Redistribution

Please tell me you knew that Bitcoins can be tracked as well, but not like Stallman’s brain child.

Aside from the ability to track many cryptocurrencies, what other human risks lurk in the digital universe? How about “fear?”

The fear of a crash. The fact that Bitcoin values can go to zero at any given time. This is perhaps the “Nightmare on Crypto Street” — unless you live in Argentina. There, the monetary nightmare has become a socioeconomic reality. Any crypto is a savior in a Welfare ‘Statist’ Regime.

As soon as the Argentinians and Chinese figure out that they are vulnerable to ‘tracking’ you may see a big switch in the CryptoNote systems. Monero for one.

But fear gives us that queasy feeling when we put cash in and receive crypto in return.

For those in Argentina, Bitcoin is a Godsend, however. The currency there is nearly worthless. One cannot do worse.

In China, where massive amounts of “paper wealth” has been accumulated and the Chinese government is devaluing the currency, thereby appropriating huge sums of money — that money is finding an escape valve: Bitcoin.

Certainly, Bitcoin is acting as a pressure relief valve for those who are being economically suppressed.

And in the U.S….

Recently, the government, seeing trillions of dollars just sitting in retirement accounts realized they could easy and legally ‘use’ that money.

Welcome, citizens. Your government, which is not bankrupt, has taken it upon themselves to ensure that all money market funds everywhere are safe and secure — in government bonds.

How did Uncle Sam do this? Simple: over-regulation. It is now fiscally sensible to use government treasury instruments. So most investment houses are towing the line — the ‘party line.’

Uncle Sam will soon have trillions of extra dollars and not need a “QE” for several more months; unless investors pull their money out or move away from money market instruments.

In other words, the money grab is going international. This fact will only serve to push crypto’s into the stratosphere.

 

Bigger questions lurk in the stratosphere as well.


Bitcoin’s Internal Organs

Can Bitcoin take the lack of pressure? Are other coins better suited to absorb the transaction volume, should savers come in droves?

In fact, it is well-known that Bitcoin may not be able to handle the ever-increasing volume of transactions. This is a hot debate, however.

The current developers of Bitcoin squabble over improvements and changes. Bitcoin’s internal organs, so to speak. The original developers have moved on, citing numerous concerns. They organized it and let it go.

Perhaps it’s high time to diversify into crypto. And keep some of your hard-won crypto’s, private.

When the first pizza was purchased with Bitcoin, many thought it was a fluke. Now you can buy almost anything with them – with no intervening bank.

Naturally, many of us want to get in on the ground floor of something great. Some even want to make sure that nobody knows where their crypto’s are, how many they have or where they send them.

Yes, one can send their Bitcoins through “mixers” where they are tumbled and jumbled – for a small fee. This is a bit of a pain and the fact that you do this can be tracked.

It’s time for something better. Something private, but from the “get go.” With no mixing service required. No possiblity that someone will abscond with your crypto at the “mixing service.”


It’s time for a Real Update

What is needed is an up to date, “with the times,” cryptocurrency. Luckily, it already exists.

Monero and AEON, are waiting. In my mind, they are the gold, silver and bronze of the “Crypto-Olympics.” This  might change if the speedy AEON operates as planned.

But these are only a few of the successful and promising “CryptoNote” based cryptocurrencies, with built-in privacy. Mixing services not required.

Only you know how much ‘money’ you have. Only you know where your ‘money’ is sent. Only you know where you keep your stash.

Compared to all the rest, the “CyptoNote” based ‘coins’ are much more stable than their “less private” counterparts. They are the next step in the revolution of digital currency.

It is not about the “Darknet.” It’s about you and your cash.

Remember, they are watching your Bitcoins, Litecoins, Ethers, Ripples, Dogecoins, Peercoins…and the list goes on.

It’s time to come to the “Private Side.”

Why give them all of your financial information voluntarily? Why provide every criminal on earth your account number and coin count?

Wouldn’t it be nice to be the only one with the knowledge? Where not even your bank can know your ‘financial picture.’

The time is now. Act while you still can.


Also see:


(Note: the contents of this blog are the opinions of the writer. Do not base any investment decisions upon said information. Do your own research.)


Sources/References:

Panning for Gold Picture compliments of: Tony Oliver from Denver, CO, USA (Prospector) [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)%5D, via Wikimedia Commons