The Dangers of Dash, Zcash and Monero To The Cryptocurrency World

peter
peter
Aug 25, 2017 · 3 min read
source: coinmarketcap

3 Reasons Why these currencies below dangerous?

ZEC Zcash — fully untraceable (as long as we believe it was launched properly).
DASH — mineable on x11 coin with masternodes and coin mixing.
XZC Zcoin — uses zerocash protocol and was launched before ZEC
EXCL ExclusiveCoin — proof of stake fork of DASH with same options
ZCL ZClassic — fork of ZEC but without founders fee (all you mine goes to you)
HUSH — another fork of ZEC with small premine for development
XMR Monero — cryptonote algo source:https://steemit.com/bitcoin/@kingscrown/irs-has-been-tracking-bitcoin-usage-since-2015-and-list-of-coins-that-can-save-you-from-spies

The beauty of running transactions outside of the normal banking institution is beloved by me.

In fact the concept of cryptocurrencies that bestrides our galaxy is an amazing sight to behold: from smart contract to investing in countries that one could not imagining investing before is something I will forever cherish.

Just imagine all the rules and requirement I as an African had to go through if I was to buy an APPLE share.

But today, with just 50$ I can invest in companies that have the potential to change the world.

But I believe some of these massive gains of decentralization will be hampered if transactions are untraceable.

  1. Terrorist have the Potential to do Unquenchable Harm

YES! unquenchable.

Just imagine for 3 seconds, yes! 3 bloody seconds.

Yes, just imagine, the gbam sound of a bus, and the screeching sound of tires as a bus climbs over tens of people as it crunches them to death. Hear the shrieks and grief hanging in the air.

Imagine a carnage caused by terrorist financed from untraceable transactions.

Yes, through sophisticated cameras, the small fishes are caught but the big fishes disappear into invisible air.

This is the inherent danger in this coins. Yes, you may feel this is extreme but who knows, the knock can be at your doorstep the next minute. But I sincerely hope it doesn’t.

2. Government will Be Left Crying

I live in a country, where the citizens are maltreated, and their hard earned money squandered by government officials. Here our taxes are mismanaged.

Many of you on the other side however, have it good, yes, I know there are other challenges -like the race issue, but on the average the economy works because taxes are paid.

Just imagine the damage that will be done on the economy of these great nation, if taxes are not paid.

Imagine the elderly ones being unable to care for themselves as government cuts down on social securities. Imagine the poor, the real poor -the homeless groan in hunger as the government is unable to finance the stipends needed to manage the situation.

source:

https://steemit.com/cryptocurrency/@billchucks/the-dangers-of-dash-zcash-and-monero-to-the-cryptocurrency-world

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Crazy social media enthusiast|contributor to @blogengage @skyhitblog| freelancer| and a fan of Arsenal Fc

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