In this article we’ll argue why Monero’s price, and it’s overall use will NOT collapse and die like Tornado Cash’s did under similar circumstances.
The sources for this article can be found here.
Reason 4. Mixer vs Native Currency
Tornado Cash was a mixer for Ethereum. This means anyone can clearly see which funds are coming from it, making it easy to sanction. On the other hand, if any transparent crypto was traded for, or from Monero, the public blockchain wouldn’t show it. When you combine this with privacy properties like hidden senders from Bitcoin Lightning, or even recent atomic swap developments with Bitcoin Cash using CashFusion [1], it’s not even clear whose trading into XMR, even if the government is an undercover direct seller.
Further, Monero has a vibrant ecosystem and community. What other ecosystem has such a focus on open source wallets? What other ecosystem has this level of Linux or networking knowledge?
Not only is XMR used on the darkweb, but beyond that it has clear use cases for the entire crypto ecosystem. Bitcoin Lighting Channels can be both clean and anonymous with XMR, as opposed to degrading your Bitcoins by first mixing it with drug dealers and hackers.
People in oppressive countries use XMR to coordinate, such as in Cuba, creating a peer-to-peer mesh internet to view censored content. [2a] And the Particl team with Basic Swap Dex has gotten completely decentralized atomic swaps. [2b]
Reason 3. Legal frameworks
Tornado Cash was a business, and not a completely decentralized crypto because the developers got a cut. [4] According to Monero Core Artic Mine, “you’ve got to keep your hands out of the till”. [3] By this he meant, you can’t evade being a legal entity if you get a percentage of the profits. The US judge in the Tornado Cash sanctions case found similar points in the developer’s control through a DAO [4].
In sharp contrast, Monero has no owners or dividends. The community hard forks based on open and honest consensus derived from genuine merit based ideas.
Reason 2. US dollar is a dying empire
The question is not when Monero will die, it’s when the US dollar will stop masquerading as a safe haven. It would be ironic to cite cryptocurrency’s biggest critic, but Peter Schiff, the economist who predicted the 2008 financial collapse, points out that the United States is massively in-debt, but yet produces nothing of value to foreigners. And that this trade deficit must weigh on the dollar. [8]
As best-selling American author John Perkins points out, only through violence in the Middle East, has the US managed to force the sale of oil in US Dollars. Perkins points to many examples including Iraq’s Saddam Hussein switching from selling oil in USD to Euros and Wikileaks’ Hillary Clinton emails for Libya’s Muammar Gaddafi wishing to sell oil in gold. [5]
The corrupt Biden administration’s unwinnable war in Ukraine has bankrupted the nation. Even mainstream propaganda outlets such as The Guardian, Reuters, and the BBC reported on leaked audio of Barrack Obama’s head of Ukraine policy Victoria Nuland. [9a] This leaked phone call revealed that the US backed an illegal and violent coup of Ukraine’s Democratically elected leader. [9b] The Obama administration admitted the leaked audio was true, which demonstrated the US picked the supposedly democratically elected leaders that resulted from their planned uprising. [9c][6]
Barrack Obama funded violent Nazis to overthrow Ukraine’s government. [11a] The media tries to brainwash voters by calling it “Russian propaganda”, but the evidence is clear in an FBI indictment of Americans involved that’s posted on the New York Times website. [12b] To quote from journalist Max Blumenthal:
“… an unsealed FBI indictment of four American white supremacists from the Rise Above Movement (RAM) declared that the defendants had trained with Ukraine’s Azov Battalion, a neo-Nazi militia” [12a]
We argue that this has turned into a financial disaster…
The US Treasury bond market is the largest bubble of all time. Because even just normal levels of interest, trigger a collapse in the banking system to cause the Fed to back off its hiking cycle. We all know these inflation numbers are lies. As John William’s Shadow Stats statistically demonstrates through methodical analysis that decades of the official numbers are propaganda. [7]
Reason 1. Price rise will mock politicians
Politicians have no control over blockchains with DNS using Tor Onions. The number 1 reason Monero will live on, is because its price will rise even if sanctioned. Bitcoin is like Marjiuana, in that it’s everyone’s first gateway drug. Monero is like Cocaine, because once you try it, you realize politicians have been lying to you your whole life.
Eventually all the bad news will be baked in, and its undeniable utility to basic human needs will reflect its market value. This price rise will be referenced in the crypto media, and will serve as a constant Hunger Games style “Mocking Jay” of rebellion. Politicians fear banning XMR, because they fear a 24/7 economic ticker feed that reveals the emperor has no clothes.
So go ahead, deploy the automated bot army to spew dribble on Reddit to curse me out. But we will not go silently into the night.
The sources for this article can be found here.