Thread by @johnfoss69

#Bitcoin , #Monero, and the Banking System in 2023.

A thread 🧵

The current banking system is in a precarious state, with a range of financial problems threatening its stability. 1/n

From the ever-increasing levels of debt to the pervasive fraud and corruption, many people are looking for an alternative solution that can provide a more secure financial future. Enter #Bitcoin and #Monero. 2/n

#Bitcoin, a decentralized digital currency, has already established itself as a viable alternative to traditional banking. However, while Bitcoin provides a level of transparency and security that is absent in the current system, it doesn't provide complete financial privacy. 3/n

This is where #Monero comes in.

Monero, which was created in 2014, is a cryptocurrency that places a strong emphasis on financial privacy. Unlike #Bitcoin, which records all transactions on the public blockchain, Monero uses... 4/n

advanced cryptographic techniques to ensure that all transactions are private and untraceable. This provides a level of financial privacy that is essential in today's world.

Financial privacy is important for a number of reasons. 5/n

Firstly, it allows individuals to protect their personal and financial information from prying eyes. In today's increasingly digital world, where data breaches and identity theft are becoming all too common, financial privacy has become more important than ever. 6/n

Secondly, financial privacy allows individuals to maintain their financial autonomy. In the current banking system, governments and financial institutions have an enormous amount of control over people's financial lives. 7/n

Govs can freeze accounts, track spending habits, and even seize assets without due process. This level of control is a threat to individual freedom, and financial privacy is an essential safeguard against it.

We saw this happen with the Canadian Truckers protest in 2022. 8/n

As Riccardo Spagni, one of #Monero's earlycontributors, points out, "Financial privacy is a human right. It is essential to protecting individual freedom and maintaining a democratic society." 9/n

#Monero's emphasis on privacy ensures that individuals can exercise their right to financial privacy without fear of persecution or retribution from a totalitarian government.

Moreover, Monero's privacy features are not just important for individuals. 10/n

They are also essential for businesses that want to protect their financial information and maintain a competitive edge. In today's global economy, where competition is fierce, businesses need to protect their financial information from competitors and other prying eyes. 11/n

In conclusion, while #Bitcoin has established itself as a viable alternative to traditional banking, its lack of complete financial privacy has left some individuals and businesses looking for more. This is where Monero comes in. With its emphasis on financial privacy... 12/n

#Monero provides a level of protection that is essential in today's world. Financial privacy is a human right, and Monero's focus on this right ensures that individuals and businesses can maintain their autonomy and protect their financial information. 13/n

As more and more people recognize the importance of financial privacy, it is likely that we will see a shift towards cryptocurrencies like #Monero that prioritize this essential right. 14/n

If you want to learn more about Monero, check out:

💡Official Monero website: getmonero.org
💡Monero subreddit: reddit.com/r/monero
💡Monero GitHub: github.com/monero-project…

Additionally, the #Monerun is coming up on April 18th (Monero's birthday).

In my opinion it was a success last year (price rallied over 20%) with exchanges likely being caught out naked short selling and forced to buy #XMR in order to meet liabilities.

reddit.com/r/CryptoCurren…

I also write a #Monero newsletter I have recently taken a break from, however you can find past issues here until I reallocate time to start publishing it again!

themoneromoon.com