this post was submitted on 13 Oct 2023
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Privacy
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A wise man once said "cash is king"
Although that brings up a point on how reliant we are on the banks, but a private crypto currency like monero is not yet ready for mass adoption.
Monero will never be ready for mass adoption. The problem is that it is primary used for illegal transations. Its effectively tainted in my eyes
But you actually don't know what monero is being used for when it's used in transactions, no one does. You just have a bias that if people want to keep their transactions secret, it must be illegal.
You could make the same argument for cash.
It's a little harder to lug around millions in cash without anyone noticing.
Not all secret transactions are illegal, but the people who are doing illegal transactions will do anything they can to keep them secret.
Most of the people using Monero are drug lords are foreign counties. You can get similar privacy with cash and it doesn't have the same crime issue.
I also mentioned taler because it provides privacy for the spender but not the receiver. The idea is that there will be less ways to effectively take dark money while protecting the rights of the consumer