John Foss Profile picture
Mar 30, 2023 17 tweets 9 min read Read on X
#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

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More from @johnfoss69

Jan 6, 2023
#Monero in 2023 – A New Beginning ☀️

This short thread focuses on various metrics, bringing to light the possibilities of where Monero may be headed in 2023 and beyond. Buckle up! 🧵

1/n
Over the past 12 months, #XMR has been the best-performing cryptocurrency when compared to other major crypto assets. #Monero is down ~23% while most others are down over 60%.

2/n
Over the past 12 months, #XMR dominance has approximately doubled.

3/n
Read 24 tweets
Jul 27, 2022
🚨MONERO NETWORK UPGRADE (HARDFORK) 🚨

A Short History Of #Monero Network Upgrades, and What The Upcoming Network Upgrade In August 2022 Means To You!
Since #Bitcoin’s blocksize war came to a head in 2017, hardforks of blockchain protcols have been largely stigmatized. A Bitcoin maximalist is likely to tell you hardforks are bad, however this mindset or approach can stifle innovation and development.
We have seen many other protocols blossom in regards to innovation and development when they welcome improvements.
Read 37 tweets
Jul 1, 2022
How #Monero is Eating #Bitcoin's Lunch – And Ten Other Things You Didn’t Know About Monero.

A Tweet Thread for the Monero curious 🧵👇
#Monero transactions are higher than ever. In particular, Monero’s total number of transactions compared to Bitcoin (ratio) are rising. This means more people are choosing to transact with #XMR instead of #BTC.

(src: moneroj.net/percentage/)
Are other privacy coins being used today? No, unfortunately not. #Monero vastly makes up for the total number of private crypto transactions, with over 98% of volume.

(src: @JEhrenhofer)
Read 26 tweets
Mar 21, 2022
Financial Privacy Is Not a Crime: #Bitcoin, #Zcash and #Monero.

A thread 🧵👇
This is what Zooko, CEO and developer of #Zcash , said a few years ago:

"I think we can successfully make Zcash too traceable for criminals like WannaCry, but still completely private & fungible."

1/
Developers’ judgement matter.

It can be concerning when developers building tools for public use get to decide what’s right or wrong, and talk about censoring users at their discretion.

There's a reason why most darknet markets and hackers don't use #Zcash.

2/
Read 17 tweets

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