Hi! Hope you’ve been doing great.
I’m going to skip the introduction for this newsletter because I want to jump right into the meat of the title.
So let’s begin!
You’ve definitely heard of Bitcoin by now but if you haven’t go ahead and read my “Bitcoin is Digital Gold” issue first before you read on…
Now imagine if you could time travel back to 2014 just like Ant-man from Marvel when Bitcoin was around only $500 per coin. You would buy as many Bitcoins as you could without question right? Of course you would! Me too!
What if I told you that there is a cryptocurrency that is following the same journey or price appreciation as Bitcoin… would you be interested? If you are give me your undivided attention for the next 7 minutes.
Before I tell you which cryptocurrency it is, let me say that this is an investment opportunity meaning the timeframe is long term and not short-term. Also, this is not financial advice so please decide for yourself.
The cryptocurrency I want to tell you about is called Monero. Ticker symbol is XMR. It’s the best privacy coin. Monero was founded by 7 anonymous developers in 2014 and 4 of them still remain anonymous today. Riccardo a.k.a. Fluffypony is the most popular public developer.
Why is Monero Important?
Monero is important because it’s private by default. Did you know that Bitcoin can be traced by anyone just by inputting the recipient’s or sender’s Bitcoin address? Bitcoin isn’t private at all since Bitcoin’s blockchain is public and open for everyone to see. On the other hand Monero’s transactions are hidden or stealth (like the above Blackbird), so no one can see the recipient’s address, sender’s address, or even the transaction amount.
You might be thinking, “So what? Privacy isn’t a big deal.” Oh I beg to differ. Why do people use cash then, let alone businesses that only operate in cash? (Ultimately to avoid paying taxes.) One benefit that cash provides is something called fungibility. Cash is fungible meaning every dollar is the same dollar no matter what. For example, if $1 was used to buy or sell drugs, someone could use that same $1 to buy candy at the store and the store owner would have no idea where that $1 came from. $1 = $1
Think about this for a minute. What if the government said, “Hey your Bitcoin can’t be used because it was used for criminal, illicit activity”. Then your Bitcoin would be no good huh. But wait, Monero fixes that problem using the $1 example.
Privacy is super important.
What is Monero’s Use Case?
Did you know that Bitcoin was first used in the dark markets before Bitcoin entered the public markets? Dark market participants thought Bitcoin was private by default, so initially they used Bitcoin for business, but later found out that it wasn’t so come today the dark markets are now using Monero due to its privacy benefit.
Only Monero was used after Bitcoin in the dark markets. This is key. But why is this relevant? Because bad actors (including hackers) or criminals understand money or valuable currency better than you or me. In order to buy and sell goods and services especially in the dark markets, they need to use private, valuable money which is the perfect use case for Monero.
(Here’s a fun fact — Guess which fiat currency is used the most for money laundering in the dark markets? Bingo, it’s the US Dollar but let’s not go down that rabbit hole.)
With that said, what is Monero’s use case for public markets? The rich value privacy more than you think. This is why loopholes exist and safe haven places such as Switzerland exist. If anything Monero will be utilized by the rich because privacy is a necessity for them.
How certain am I that Monero will not only survive, but thrive in the future?
It’s called personal conviction. Does this introduce bias? Absolutely. But if I were to ask you about your conviction on your investment ideas, what would you tell me? Talk is cheap right. Action speaks much louder than words. And even more so if you can back it up with your wallet.
I arrived at Monero after doing hours of research and asking myself “What would I invest in for the next 10 YEARS?” Monero.
You can probably tell I’m highly convicted about Monero so I’m personally invested myself for the long run. Plus I wouldn’t recommend anything to you without any personal conviction.
We’ve all heard stories of Bitcoin millionaires since they bought Bitcoin when it was super cheap. Well now you’re aware of an opportunity where you can may be one of those Monero millionaires in the future…
So the question is what are you going to do about it?
Until the next one,
DHL
P.S. Remember DCA? Dollar Cost Average. Currently I’m buying $50 worth of Monero every week using DCA. I set it & forget it. This way my average buy price will be much lower than Monero’s market price especially in the long run.
This is an easy actionable step you may want to consider for yourself. If $50 is too much then do $10 a week or even $5. Something is better than nothing.
One last thing.
You need to understand that no one is coming to save you. Take complete, full ownership of your finances. Are you lacking financial knowledge? Thank God for YouTube. Go there, watch some videos on finance, and educate yourself.
You and I live in the best country in the world, let alone the best city in the United States IMHO. You really have no excuse. That doesn’t mean you won’t fail because life involves failures too. But understand that you have every resource at your fingertips, so take advantage of it and make your financial life better.
Hopefully you didn’t take my encouragement the wrong way. I only said that because I care you know… You truly have the power within yourself to change your life, but YOU need to believe it first.
Anyways, talk to you later!