XMR BCH and our Privacy

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Avatar for HoyNoSe
3 years ago

I believe privacy is a fundamental requirement if we are to keep relying on the Internet. The bitcoin network came into existence January 3rd 2009. At that time people were still trying to recover from the 2008 financial crisis where banks were being bailed out. With Governments trying to ban, stop, or control cryptocurrencies, I will focus on two subjects our privacy and all government owned currency.

All governments have their political agendas financial, social , etc.. I don't think they will ever cooperate to control cryptocurrencies. Most countries only want to tax you and make sure you follow their rules if you live there. Cryptocurrencies are not centralized or owned by any single entity, so it will be extremely hard to stop or control them. With Venezuela snatching them up, the United States allowing them to flourish, China and North Korea working hard on making more through mining and obtaining them anyway they can. Bitcoin at one time grew to a high price of 20K per coin! (a value no other world currency has ever reached!). Crypto has become too big to fail or be stopped. It has become a world currency.

Monero (XMR) was created in april 2014. When Monero was first introduced to the public, I became interested in it because of its privacy features. Ever since it was created, privacy has been number one. Unlike Bitcoin, which is only pseudonymous, Monero is entirely anonymous. It allows untraceable transactions and users balances remain hidden on the blockchain all the time. Since it cannot be tracked and users are not identifiable, nobody will know your balance at any given time or even in the past.

  • Every transaction involving Monero obscures the digital addresses of the senders and receivers, as well as the value of the transaction.

  • Monero has three different rules that allow it to achieve private and secure transactions:

Ring signatures, Ring Confidential Transactions and Stealth addresses. Europol recently confirmed that Monero is completely anonymous and there wont be any chain analysis tools anytime soon that will be able to trace or track its coins. Monero offers users near-total anonymity, allowing them to instantaneously send digital cash without leaving any clues. This is something no other coin can claim.

  • Bitcoincash (BCH) was created During a hard-fork split in 1 August 2017 split Height # 478559

Developers are constantly working on improving privacy with projects like cashshuffle. They are working hard on making Bitcoincash private. while bitcoincash is not fully private, developers are working on implementing these solutions to make it untraceable. cashshuffle and soon cashfusion as well. By following these simple steps you can help yourself and others.

  • ALWAYS use a new address when receiving BCH.

  • NEVER re-use a old address - You have an infinite amount from a

    single seed phrase.

  • YOU can make unlimited wallets and create new ones for free always!

    use this to your advantage

  • BE aware your entire transaction history is stored on the blockchain

    A CashShuffle is a fully decentralized privacy protocol that shuffles your Bitcoin Cash with other network participants. This shuffling process mixes spending and makes it difficult for chain analysis companies to track your coins.

Governments are working hard on ways to track all your transactions.

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Avatar for HoyNoSe
3 years ago

Comments

Oh wow what a nice article! Thanks for sharing this to us

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3 years ago

Thanks!

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3 years ago

You're welcome 😊

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3 years ago

Thanks for the information I am very interested,

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3 years ago

It's helpful. Thanks

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3 years ago

Maybe Monero is better is security but BitcoinCash can improve it's security too. It's for the best if it's Community.

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3 years ago

Thankyou

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3 years ago

Nice article very informative

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3 years ago

Just remember that BCH is still young like 3 years old.

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3 years ago

Thank you for passing out this tip. Though people may be informed about these developments, but how many people are using them to protect their identities?

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3 years ago

Excelente artículo. Por favor más cómo esté!! 😉

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3 years ago