4 Reasons Monero Won’t Die like Tornado Cash
In this post 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.
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. The United States is massively in-debt, but yet produces nothing of value to foreigners. Only through violence in the Middle East, has the US managed to force the sale of oil in US Dollars. [5] And the corrupt Biden administration’s unwinnable war in Ukraine has bankrupted the nation. This Ukraine war, which originally started with Barrack Obama funding Nazis to do an illegal and violent coup of Ukraine’s Democratically elected leader, has morphed into a financial disaster. [6]
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.
Sources: https://simplifiedprivacy.com/monero-vs-tornado-cash/
Ah, a post discussing why Monero won't die like Tornado Cash. That's interesting! It seems like there are several reasons outlined in the post to support this claim. From the differences in privacy properties to the vibrant ecosystem and community surrounding Monero, it's clear that there are unique aspects contributing to its resilience. And let's not forget about those politicians who may find themselves mocked by the rise of Monero's price. Quite intriguing indeed! Thanks for sharing the link to the source, I'll be sure to check it out for more details.
No one here cares unfortunately.
They all be like xmr bad u stupid fuck, there can only be one nwo.
Great post. Monero is like the second coming of bitcoin. Fueled by undesirables initially, but destined for broad adoption.
OK, that is all fair reasoning, but can you answer me this:
Why isn't monero more popular/valuable than bitcoin or any of the other 30+ crypto altcoins right now? Why has it not come close to Bitcoin or even ethereum adoption? What reason is there for it not becoming more successful if what you say is correct?
CEX delistings, not as easy to acquire as any of all other 10,000 tokens, most people don't care about privacy or don't think it's exciting to invest in, and Monero users are seen as a "niche"
ALL CEX listings are under fire. look at SEC vs Coinbase and binance.
Monero has the largest peer to peer marketplace liquidity
How'd you get Monero.com nostr verify?
First the exchanges (thats not a bad thing, DEX's are better anyway). But next comes a ban on ACCPETING monero for services like VPNs. Thats when Monero is banished to live ONLY on the darknet. I don't see any way around that.
Having no centralized exchanges isn't an issue. The main problem for monero is that spending it on goods and services could be made illegal. In which case, even if spending monero is completely private, selling goods and receiving monero for them it is not, (except on darknet markets). This is a big problem for Monero. I can conceive that soon it will be made illegal to accept monero as payment for goods and services. Once that happens it's value is tied ONLY to dark markets. That's not great.
Yeah agreed. So what'd your solution? Because mine is to add value with an XMR business
Honestly, I don't know what the solution is. It seems inevitable now that Monero will be banned as a form of payment, bitcoin is becoming harder and harder to use privately and without declaring for tax purposes. It may be used on the darkmarkets but lawful use is not going to be an option soon. Even bitcoin is difficult to spend without documenting every transaction and necessarily handing all your financial details to govnts for capital gains purposes. XMR business will likely not be able to comply with laws soon.
Permissionless Principle
"Bitcoin is designed to operate without permission from any authority. Its value proposition is entirely based on this property.
A market can be divided into permissioned and permissionless from the perspective of the state. For ease of reference the former is often referred to as "white market" and the latter "black market". White market trade, by definition, requires permission, and black market does not.
As a simple matter of definition, Bitcoin operations cannot be both white market and permissionless. Any person operating in the white market requires permission to do so. Bitcoin is therefore inherently a black market money. Its security architecture necessarily assumes it is operating without state permission.
The security of Bitcoin does not extend to white market systems. Any system dependent upon the value proposition of Bitcoin must also be black market."
I think that now it is just missing manpower, i.e. more developers, or businesses, people interested to invest time, energy and money into Monero based startups, I may be biased but as a dev myself I think of development opportunities all the time that could make it more usable or friendly as a payment method for goods and services, both online and offline, like a btcpayserver alternative focused on Monero, an AI platform where you buy credits with monero, social media like Nostr where donations are made in Monero (I always wanted a video platform like Odysee to achieve this since video creation is a great fit for monetization and subscriber benefits), patreon/locals/subscribestar alternatives paid in Monero, gaming platforms like itchio. But I already have my work so I can't code everything at once
In general I think we just need people using it either for fun, or for actual income, and then it is like a bandwagon effect where it would translate to real life where everyone is like "I can just use Monero" and we may see the market cap in a similar position of the "top popular coins", and where making it illegal is useless
the problem I foresee, even if monero becomes popular is that govnts can make it illegal to sell things ie accept payment for monero. You then have the problem of advertising your products legally. And the whole system collapses, back to the darknet where it currently is. This is true of all crypto. Privacy is great, but in the end to actually buy real world goods there is no privacy thats legal. Because the seller must be visible.
No crypto is private unless you never want to spend it.
In the UK HRMC says crypto investors must declare the following:
The type of tokens
Date you disposed of them
Number of tokens you’ve disposed of
Number of tokens you have left
Value of the tokens in pound sterling
Bank statements and wallet addresses
Records of the pooled costs before and after you disposed of them
That leave you with zero privacy from the govnt, unless you want to break the law. Monero’s value is in real world cash peer-to-peer.
Bitcoin’s market cap rises on SPECULATION. I’m disputing that it’s actually being used for real world transactions. Even on Nostr, we’re using custodial accounts, which is really like a fractional reserve bank account but for bitcoin.
And Ethereum is developers and venture capitalists, it’s not real world shit. Nobody is buying toilet paper at the local store for Eth layer 2.
Compare that to VPNs or privacy services. The overwhelming bulk of all transactions at Simplified Privacy are Monero.
Agree, lightning is terrible on every level, not just because of poor privacy but because its more complicated to use than any other crypto. Which means Alby dominates lightning transactions like Visa does fiat. Theres not much point in having bitcoin if I use lightning , if there is little privacy gain for small transactions might as use visa/paypal that is much much easier/cheaper. So I still don't get why Monero isn't more popular as both a store of value and transaction currency. Why don't the people who speculate on bitcoin and shitcoins speculate on the privacy that monero offers? If it actually does offer something people want, if it can't be banned precisely because its private (unlike less private shitcoins) why not invest. Whatever way I look at it, seems to me that if you are a speculator or enthusiast or privacy advocate there is no reason not to invest in monero rather than all the other crap coins. I don't want speculators, i'm happy they aren't investing in it -I suspect that makes the fiat value more realistic - it just doesn't seem to make sense that you wouldn't if you want to profiteer of it.
Or to put the question another way: what exactly are speculators afraid of?
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