I was showing some of my friends and family how fast NANO was compared to BTC over our Thanksgiving lunch today (yes, it was mostly outdoors and everyone was wearing masks while not eating/drinking) and I realized that this was not the way when one of my cousins asked me to buy him a PS5 out of the blue. I see this person like once every two years and we don’t talk otherwise, so it was kind of a weird request.Turns out he SUPER quickly learned how to view my transactions history and saw that I was funding my “hot” wallets for the purposes of showing everyone the different transaction speeds between NANO and BTC. Well one of my “cold” wallets had more value than my unemployed cousin so he thought he could ask me to buy him a PS5 since I had “extra” money.This is not the way.I thought privacy was for criminals or scammers but it’s really not. Our money should be private by default. The idea of leaving funds on exchanges or constantly juggling a dozen different wallets and trying to “mix” your funds is ridiculous.I’ve also been reading out PayPal’s plans to hold BTC but slow confirmation times won’t matter because PayPal won’t actually be sending BTC between buyers and sellers, it’ll just be used as an alternate currency in their internal currency rate exchange. So NANO’s speed doesn’t have any advantage if non-privacy cryptos are just going to be handled the way PayPal is going to do it.Now there’s rumors of KYC being required for your own private BTC wallets?! This is crazy. I cannot fathom holding any meaningful amount of crypto to actually use, if everyone can see my balances.This is out of control. Digital gold? Ok, maybe BTC can be a hedge against inflation for forex traders and people in countries with devalued currencies looking for an (eventually) more stable currency. But otherwise, for actual spending on goods or P2P payments with friends/family, I don’t think so.With that all being said, it looks like Monero is the king of privacy, right? If there’s going to be a real decentralized, P2P cryptocurrency free from central banker control, then Monero is probably it.Im not a criminal/hacker and I would still prefer privacy.
Submitted November 27, 2020 at 08:29AM
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