Here, in part two of my crypto series, I'll briefly discuss the privacy coins that I am betting on.
If digital currencies are supposed to take power away from banks, privacy coins might be able to that and also take power away from governments. Bitcoin was the original privacy coin but newer coins are more private than ever. Most experts are predicting a big year for privacy coins. There is some fascinating tech in this realm so let's jump right in.
Monero - XMR
Monero was one of the first coins to be dubbed a "privacy coin" and of course was created with just that in mind. Monero's privacy features include stealth addresses, hidden transaction amounts, and the ability to mask your transaction among other transaction outputs. What I like most about Monero, to be honest, is that it is well established. Eventually privacy coins will start dying but XMR has already solidified itself. The supply isn't too high at 15,709,399.ZCash - ZEC
ZCash is one that many people are still skeptical about. There seems to be a lot of FUD around this coin. In addition to the privacy features Monero uses, ZCash offers transactions to be part of a "shielded pool" using "non-interactive zero-knowledge proofs." If you want to offer proof of transactions you have that option too...so I suppose ZCash could be used nefariously or not! Some speculate that ZEC is not sound or private enough and that there is too much hype around it. Once again this coin is somewhat well established. The supply is the same as Bitcoin.PIVX
PIVX is a DASH fork. It was originally called Darknet. What I like about PIVX is that, like DASH, it focuses on: staking and self-governance. An investor has the ability to set up a node to help govern and receive rewards (more PIVX). Roughly 2.5 million PIVX is generated each year through these nodes and nowhere else. The privacy aspect of the transactions is, of course, sound. Granting rewards to investors and encouraging them to HODL is a good thing. If the price of Dash seems too crazy for you as well, consider PIVX.Verge - XVG
There's a TON of FUD around Verge. I do consider this coin to be more of a gamble than the others. Verge integrates Tor and I2P to hide IP addresses...not cryptography. Verge calls this the "Wraith Protocol." There is a huge supply of XVG; currently about 14,582,971,349 with a max supply of 16,555,000,000. Verge is indeed fast and cheap. It remains to be seen if there will be mass adoption of XVG but to me it is quite intriguing.
I am no expert so please, do your own research and invest responsibly. Hopefully 2018 is a monster year for the crypto market!
Nice post about privacy coins.
There is one good potential privacy coin which will start seeing the light next month after a coin swap due a fork from PIVX.
It's POSW now, future STAKENET with masternodes, cold storage, it's supported by Ledger Nano S and it will give a service to stake other POS coins.. I could be huge!
https://steemit.com/cryptocurrency/@greensmile/posw-stakenet-2018-roadmap
Nice post. I am not a cryptoexpert but I think as a privacy coin Zencash will do great in the future. What do you think about zencash?
It certainly is interesting and has promise but this is a very competitive marketplace.
Hey Big Lou, are you trying to hide something by using these coins like buying from the black market or do you just not want a dirty bitcoin that was used to fund terrorism? Are you excited for Bitcoin Private at the end of the month?
Hah! I just see an investment opportunity...I hope I can use this stuff instead of USD for things eventually.
XMR all the way. Only crypto besides BTC worth HODLing, and the only one on this list that is completely fungible.
https://www.bloomberg.com/news/articles/2018-01-02/criminal-underworld-is-dropping-bitcoin-for-another-currency
Don't trust ZTrash.
Great post. I need to look more into Privacy coins. I'm more familiar with Smart Contract based coins like Ethereum, NEO, and Steem with budding interest in EOS. Monero and PIVX seems interesting. Thanks for the brief info on them.
Indeed....in this world of surveillance these coins will play a role.
Congratulations @big-lou! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPUpvoted ☝ Have a great day!
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by big-lou from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.