Episode Highlights:
- 00:15 – Why Am All-In On Privacy Coins
- 00:40 – What Is Privacy Coin?
- 01:06 – Eight Reasons Why Privacy Coin Will Do Well In 2018
- 01:15 – Demand
- 02:42- Anonymity
- 03:10- The Darknet
- 04:02- Tax Avoidance
- 05:24- The Technology
- 06:40 – They Work
- 07:00 – People Are Choosing Privacy Coin Over Bitcoin
- 07:30 – Leaders Influence
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Transcription:
Hey guys what’s up? Its Dan again from cryptoCamacho.com where each day I help you navigate through this crazy cryptocurrency world. Today guys because the response has been so positive because there’s been so much interest in this topic I wanted to revisit the topic.
00:15 – Why Am All-In On Privacy Coins
I wanted to kind of re-explore why I am all-in on privacy coins in 2018. This year guys is going to be the year of privacy coins and I want to give you eight specific reasons why I think privacy coins are going to be the next boom in 2018, and why you can’t go wrong with privacy coins right. There are a lot of them out there right.
00:40 – What Is Privacy Coin?
What’s a privacy coin? It’s Manero, it’s NAB coin, it’s Virg it’s Zcash, it’s dash, its deeponion, it’s uh…there’s a lot of them guys. There’s a ton of privacy coins out there right now, the particle is another one. There’s a lot of privacy coins out there guys and I think there’s going to be a huge demand for them if not this year definitely within the next two to three years as government’s start cracking down on crypto currencies.
01:06 – Eight Reasons Why Privacy Coin Will Do Well In 2018
So, I’ve devised eight reasons why I think you should be buying privacy coins in 2018. And let’s jump right into it
01:15 – Demand
Reason number one demand: this is the most important reason for this entire chart right here right demand. People want to protect their privacy online especially when it comes down to money. People do not want the government, they do not want third-party regulators, and they do not want other people in their business especially when it comes to money. So, there is an in acute and high demand for privacy coins to just get people out of their private lives right. That’s the main reason. There’s going to be a huge demand for privacy coins in 2018 which means that the prices are going to spike right. And that’s because the demand for privacy coins is going up up up. Look at any of the privacy coins and you’ll know what I’m talking about. Look at Manero, it’s the only cryptocurrency now used to power the darknet, the dark web right. The demand is going up, people realize that the government can track Bitcoin, they realize that they can be taxed on other altcoins, they realized that regulators can track exactly who they are and what they’re doing with their cryptocurrencies by using most of these altcoins that are out there. A lot of people don’t like that; a lot of people don’t want to be tracked. Whether it’s you know on the internet, whether it’s you know in your house with surveillance, whether it’s you know your money. People don’t want to be tracked anymore and that’s why the demand is going up.
02:42- Anonymity
Number two in anonymity: with cryptocurrencies like Bitcoin Ethereum etc people can easily track your transactions and payment history. Privacy coins fix that. They are completely anonymous. And if you’ve watched previous videos you’ll know that different privacy coins have different degrees of anonymity, and privacy, and security. So, you got a look at which ones you really like, but to some degree, all privacy coins are for some sort of anonymity right for your identity.
03:10- The Darknet
Number three the darknet: with the [inaudible, 03:13] of the darknet, people want to protect their identity if they’re buying drugs, pirated materials, and other nefarious things. this is only a catalyst; keep that in mind this is not what’s going to drive privacy coins, but it is definitely going to catalyze or be a catalyst to propel privacy coins into the mainstream and into you know the eyeballs of people like me that don’t go to the darknet very often right. They’re for people like me everyday people like you like me that want an annuity that doesn’t want other people messing in our lives and that is why they start in the darknet, because people want to do nefarious things, want to do things they’re not supposed to do, that are against the law but then it eventually goes into the mass market and it gets more widespread adoption that’s what’s going to happen. That is what’s happening.
04:02- Tax Avoidance
Next tax avoidance: it’s a little taboo yes; most people don’t want to talk about it. They don’t want to admit it, they don’t want to even be part of it, but privacy coins are going to be the coins of choice for people that want to avoid taxes and that’s mainly because authorities can’t see how much money you’re storing, or where you’re storing it. They will have no record of how much Monaro you have or how much deeponion you might have because it will be anonymous, it will be untraceable. So, you can have you know a stick, a hardware wallet let’s just say and you could have a million dollars of Manero on this stick, or a million dollars of deeponion on your hardware wallet. Who’s going to know? Nobody’s going to know. The government’s not going to know and when you want to make a transaction what do you do? You simply take your hardware wallet you load it into your computer, you take off some of that Manero or deeponion or whatever it is you may be trading with and you make a transaction, you make a purchase right. You could buy back Bitcoin you could buy back whatever you want right to make a transaction. But the government in the IRS is not going to be able to track where you’re storing your Monero. where it is right, or how much you even have, they are not going to know, they’re not going to know how much it rises, they’re not going to know. So, if you want to avoid taxes which I do not recommend and I highly advise against avoiding taxes, but if you are that kind of person privacy coins is the way to go.
05:24- The Technology
Next, the technology and this is important one guys the technology, as you’ll discover the technology goes way beyond Bitcoin, the best privacy coins which I’ve covered in previous videos are far cheaper, faster and more innovative than outdated cryptos like Bitcoin. This is an important point, because as the technology gets better and better and better which it already has compared to Bitcoin in many cases, people are going to adopt privacy coins just because the technology is better, because they’re faster, because the transaction costs are cheaper, because they’re easier to use the utility is better. It’s stronger, the applications are stronger, and there are more applications for them than Bitcoin. The technology makes big difference guys. The technology is what also acts as a catalyst to adoption to mass adoption and that is why the darknet has been you know has been adopting Manero because the technology has been better than Bitcoin. It’s faster, it’s cheaper, it’s anonymous, it’s untraceable, it’s unlinkable, and it’s all of these different things that Bitcoin is not. So, people are adopting it maybe for nefarious reasons, maybe to buy drugs, but also maybe because they want a faster coin, maybe because they want lower fees, and transactions all of these reasons are you know propelling privacy coins up up up. Look at deeponion, the Tor network that technology is fantastic. It’s incredible compared to Bitcoin and that’s why it’s going to go higher and higher and higher as it gets widespread adoption.
06:40 – They Work
Next, they work. Number six they work: this isn’t just a nice idea, privacy coins like Manero are already transacting millions and millions and millions of dollars online. Just go Google Monero transactions, Monera on the dark web you’ll see how much people are using Monero and its staggering how much they are using Monero.
07:00 – People Are Choosing Privacy Coin Over Bitcoin
Number seven people are already choosing privacy coins over Bitcoin. Monero is already becoming the default cryptocurrency for the dark web and the trend is going to continue. I expect other privacy coins to start getting traction in the dark web that will flush out the scalability issues that will flush out any technical issues that they may see, that’ll flush out any anonymity privacy security issues that are going to happen as they get more and more adoption. More traction more scaling will happen, more issues will be discovered, more patches and fixes will be applied right. That’s how it works guys.
07:30 – Leaders Influence
Number eight and not to be discounted but also not to be held up as the most important reason, but for cryptocurrency leaders and influencers. This is important whether or not you want to accept it or not, leaders have an influence on the prices of cryptocurrencies at least today and for the near foreseeable future. When you have a following of a million people and you say verge or Manero or whatever privacy coin is the future, those million people or followers are going to take notice and they’re going to act on your recommendations. Especially, if they trust you, they know you’re an expert in a certain field so forth and so on. Those million people are going to act and a percentage of those people are going to go and buy whatever recommendation is made by that influencer right. That’s just the reality. So, while you may like or hate lover hey John McAfee right, the creator of McAfee Antivirus software, you may love him or hate him, but he is an influencer. He does control people on social media. He controls what they do to a large extent. He doesn’t control their minds, but his influence controls their actions, what they do. They hear John McAfee say oh Manero is the best the next best thing, you should go buy verge, and they immediately go jumping by it right. Now there is some credence to that because you can profit when influencers say things you just have to be careful what they’re saying and timing is everything. You have to time it right, otherwise its meaningless right. So, John McAfee is a huge proponent of privacy coins for many of the reasons I’ve already outlined. He, you know may not have the greatest reputation in some cases, but he’s still one of the leading voices of cryptocurrency. He is one of the largest and most influential people talking about cryptocurrency. He’s one of the smartest thought leaders talking about cryptocurrency. He is one of the most technical leaders who know about cryptocurrency who knows the inner workings of how the darknet works, about how cryptocurrencies work, about how block chains work, about how mathematics works, about how the network works. How network effects play out, about how typography works, he knows a lot about all of these things, and I follow him and listen to him because of these things right. And as you’ll see below his recommendations are privacy coins in 2018 guys. That’s why I’m telling you. All these eight reasons are pointing to why you need to get on the bandwagon and buy some privacy coins. I’ve already gone through and recommended some privacy coins I’m going to do some individual recommendations here coming up in the next few days, but there’s one thing I can leave you with guys, in 2018 privacy coins are going to be big. In 2019 they’re going to even be bigger and as time goes on they’re going to grow and grow and grow, grow because this is the future. People do not want a centralized internet, people do not want a centralized financial system, people do not want a centralized government controlling your lives, people do want a lot of regulators, people do not want to pay hefty taxes for programs they do not agree with. Privacy coins are going to disrupt all of that. They’re going to displace all of that in time mark my words. I promise you that they are going to. I don’t know which privacy coin is going to be up on top, I don’t know which one’s going to you know to rise to the top and years to come. I don’t know which ones are going to rise and fall and go out of business, I don’t know but I do know that privacy coins are not going away. And they’re only going to grow in time. Hope you guys found this useful? I’m Dan again from crypto Camacho and let me know what you guys think privacy coins in 2018. If I miss any other reasons, please let me know. We love to hear it. See you guys and talk to you next time
