MONERO (XMR) - QUARANTINE/COVID-19 THE 9/11 of the 2020s
Governments famously enacted privacy destroying legislation in response to 9/11 (e.g., Patriot's Act).
We are already seeing a similar response by governments to Covid-19. For example, some countries are now tracking their citizens through their mobiles without having to obtain permission from any courts - all in the name of fighting coronavirus!
With the rise of facial recognition and new surveillance technology, the coronavirus outbreak is the perfect excuse to ramp up the use of these privacy destroying technologies.
Bitcoin, while the most popular and valuable cryptocurrency, is not fungible. Measures enacted by governments with respect to tracking their citizens using various methods (facial recognition, mobile GPS, and so on) could wake people up in that a private, fungibile currency is much more desirable in these testing times. If the situation escalates and government goes full-retard authoritarian, Monero will be an essential tool for a resistance movement.
Three possible paths are indicated on the chart for XMR-BTC. I expect XMR to outperform BTC as our privacy is eroded even further.
Stay safe out there, be mindful of the hidden agendas of the media/government and plan for the worst.
We are already seeing a similar response by governments to Covid-19. For example, some countries are now tracking their citizens through their mobiles without having to obtain permission from any courts - all in the name of fighting coronavirus!
With the rise of facial recognition and new surveillance technology, the coronavirus outbreak is the perfect excuse to ramp up the use of these privacy destroying technologies.
Bitcoin, while the most popular and valuable cryptocurrency, is not fungible. Measures enacted by governments with respect to tracking their citizens using various methods (facial recognition, mobile GPS, and so on) could wake people up in that a private, fungibile currency is much more desirable in these testing times. If the situation escalates and government goes full-retard authoritarian, Monero will be an essential tool for a resistance movement.
Three possible paths are indicated on the chart for XMR-BTC. I expect XMR to outperform BTC as our privacy is eroded even further.
Stay safe out there, be mindful of the hidden agendas of the media/government and plan for the worst.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.