As most working in the bitcoin space will tell you, Bitcoin is not anonymous, it is pseudonymous.
Now at first glance that statement feels a bit superfluous, a play on words if you will. Leaving the suggestion that the two might more or less be equivalent. However, as it stands there are some significant differences between those two positions and there is a whole market developing around finding ways to take transactions on the blockchain and make them (if not perfectly anonymous) closer and closer to anonymity with each added layer of security.
So sitting at slot 7, with a little over 4.5 million units of DRK available at a price of 0.00638474 BTC per unit we end up with a marketcap of 29,260 BTC (14,790,424 USD). Suggesting that at the very least there’s 14 million dollars betting on the idea that the market just might want some anonymity features that Bitcoin, in it’s current form, cannot provide. Yet Darkcoin is hardly the only player in the anonymity game.
Just a few slots down in the 18th spot we have BitcoinDark (are you sensing a theme yet?) with a current 3,143,825 USD in terms of market cap. Relying on an “off- blockchain private network” to accomplish what it is calling “Teleport Technology”. Something that, according to Darkcoin developers, can be applied to any cryptocurrency thus potentially making the entire market anonymous in one fell swoop.
Yet my current favorite in the anonymity scene (if for no other reason than because it breaks the “Dark” name theme) is currently at slot 51, named ducKnote. A fork of Bytecoin, utilizing the same cryptonote technology it claims to “provide unlinkable and untraceable transactions”. While it is currently enjoying an opening burst, as many alt-coins do, sometimes opening burst continue on to become something more. Only time will tell if that can be said of ducKnote.
Taken individually or used altogether these technologies represent the base desire for all users to have the option of privacy when transacting on the net. While taken at face value this need might be misconstrued as a desire to do something nefarious or partake in something of dubious morality. The truth is, when taken in context with the world we live in today, where there is massive surveillance into our social and private lives. Where questionable economic sanctions dictate who is allowed access to resources and who is not. Taken in that context and suddenly the desire for anonymity begins to make sense.
The majority of users don’t want to commit bad acts. They simply want to be able to participate in an economy without bad actors tracking or controlling their participation. This might sound crazy but only because most people alive today do not remember a time when we didn’t simply assume all of our activity was being tracked. Most people have already forgotten what it was like to have genuine privacy. In the future everyone will be anonymous for 15 minutes is not simply a catchy slogan, it’s an indiccator of market potential. It’s a problem to be solved and there are plenty of young, enterprising minds setting out to solve it.
While I can’t choose for you, I recommend backing at least one such group.
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