Surfing the Silk Road?
Monero / Dollar BITFINEX:XMRUSD
Are you guys ready to surf?
Today, I am posting a simple chart dragging DASH and Monero into one room, and comparing the two to offer my ideas on both projects for analysis.
TL; DR I still prefer DASH over Monero, and you might see DASH climb past Monero soon on the crypto-ladder on the basis of market caps.
Money Laundering? LSDCoin? KidnappingCoin? Yikes!
Surely as a trader and especially if you consider yourself a long-term investor, these terms sound like extreme cases of stigmatised alt coin usage!
But sadly, we have to remember that criminals only work in the dark. So what would be more attractive than a CriminalCoin?
If I2P endorsed a crypto, you might as well call it Monero 2.0...But wait, don't the bad guys only use Bitcoin?
Obviously, any currency can be used for malice, but it is commonly known within the darknet where BTC grew up in that dealers preferred BTC over offline fiat.
After all, fiat comes with the guarantee of anti-fraud enforcement, serialised bank notes, and the steel hammer of law upon anyone that attempts to pull off a bank heist.
Anybody that has felt the pain of the Mt. Gox tragedy, or has been on the receiving end of crime will probably get the point I am bringing up here.
Anybody that believes Bitcoin is 100% anonymous must be very uninformed and oblivious to where crypto is heading.
Building a true cryptocurrency on the blockchain and staying laser focused on not competing with 10 other projects all at once is why I got interested with DASH.
The myth that you can run a project like Monero, and publicly convince others to put their money in the project to trade or invest is a pretty scary concept.
Legitimate Investors and legendary traders are breathing a sigh of relief that top crypto projects and exchanges/wallets are staying partially, or entirely transparent
to swim outside of the kiddie pool zone and take a deep dive into the securities ocean.
This means, the further away from the black market you go, the more likely you are to attract big money.
Obviously, if you are trading or investing in crypto, you are in it for the profit and overall currency innovation right?
This is where my conclusions begin to form. DASH mentions their project as a true "autonomous" cryptocurrency that has the option of privacy with huge potential for liquidity,
market cap expansion, and transaction speed/real-world scale.
On the other hand, you have Monero, which mention their project as a "Privacy" cryptocurrency that is built purely to hide and harbour everyone inside the bubble.
There may never be liquidity, big money investments, or user growth outside of a small group completely paranoid someone might find out they spent $1 at a local farmers market.
User Data is always a touchy subject, but the fantasy that an open-source project can not be copy/pasted quickly to compete for their market cap is pretty prevalent.
As an investor, I am not debating morality here, but simply reminding my followers that investing in absolute dark-coins is essentially admitting you want to personally fund
the activity of an entire market cap that could be 100% criminal by definition.
Think guys! Casino Laundering? Illegal gambling/betting? Hitmen and arms dealers? ID theft and fraud? Ransomware? You name it. If a civilisation sets the ground rules for morality,
anybody that wants to ignore the rules is going to flood into an alt coin that hides their dirty deeds under the table and in the dark...
Real-adult investors that want to get rich and profit off of crypto are not scared of putting the chips on the table and inviting big money to come over and play.
Remember, the market cap of illegal trade under the table is childs play compared to the billions and trillions floating around above the table!
As of today, I now own 0.00000 Monero. AKA (CriminalCoin)
Thanks for your time as always!