The dark side of human nature: Why privacyprivacy Bezeichnet den nichtöffentlichen Bereich, in dem ein Mensch - unbehelligt von äußeren Einflüssen - sein Recht auf freie Entfaltung der Persönlichkeit wahrnimmt. is essential in the crypto world
„Homo homini lupus est" - "Man is a wolf to man". This Latin proverb, which goes back to the Roman poet Plautus, sheds light on an uncomfortable truth about human nature. It reminds us that people can occasionally drop their altruism altogether and tend towards evil selfishness, aggression and exploitation, especially when personal interests are at stake.
In the world of digital finance and cryptocurrencies, this age-old concept is taking on a new, explosive significance. It is not just about philosophical considerations, but about tangible financial risks and the protection of personal assets.
The need for privacy in a digital world
Privacy Coins like MoneroMonero (Kurz XMR) Die technologisch führende Kryptowährung zum Schutz der finanziellen Privatsphäre. Verfügt über eine private Blockchain: Sender, Empfänger und Betrag bleiben für Beobachter geheim. Sichergestellt durch modernste Kryptographie-Techniken. play a crucial role when it comes to protecting yourself from the "wolves" in the digital financial world. They enable users to disguise their transactions and keep sensitive information such as their account balance, payment history and payment partners secret. Far from being a luxury, this is a much-needed shield in a world where financial data has become a coveted resource for criminals and BigTech.
Even the ominous EU-GDPR does not provide any security: no one reads through dozens of pages of privacy policies that explain to whom their data is passed on. Moreover, according to this EU regulation, financial data is not particularly sensitive data and can be exploited to your heart's content. Other articles show this harsh reality with the surveillance of various Bitcoin users.
Transparency: a double-edged sword
While transparency is desirable in some areas of public life — such as politics and the use of taxes — it can become a dangerous pitfall in the world of personal finance. The full disclosure of all transactions, as is the case with transparent cryptocurrencies such as Bitcoin, makes it easier for users to fall victim to targeted attacks by cybercriminals, economic spying by competitors or surveillance by state actors and large corporations. Anonymous cryptocurrencies offer a necessary protective shield here. They allow users to hide their financial activities from prying eyes and thus protect themselves from potential threats.
The privacy of wolves
Opponents of privacy never tire of emphasising that unfairness also thrives in the shadows, which is absolutely right. We have to resolve the resulting conflicts not at a technical level, but at a social level within society. This is what courts and criminal prosecution exist for. It is not the kitchen knife that kills, but the person who has the will to kill and uses the tool: the person is the wolf. Punishing everyone because a minimal percentage acts maliciously is infantile — not an enlightened solution, and certainly not a liberal one.
If we prohibit the sincere from defending themselves by means of privacy, they will be less able to defend themselves against the wolves among us. Whichever way you look at it, it would be a loss to restrict privacy.
Away from "I have nothing to hide!"
The argument "I have nothing to hide." is misguided in the complex reality of the digital financial world. It's not about concealing illegal activities, but about protecting ourselves from the "wolves" who want to misuse our sensitive financial data for their own purposes. Privacy coins offer us decisive advantages here. They protect companies from industrial espionage by allowing them to make private payments without giving competitors, analysis companies or even banks an insight into their business life. The same applies to private users: Who wants to leave after a purchase with the uncertain feeling that the seller can continue to monitor your activities in the future and take advantage of them in a targeted manner?
Which brings us to the next benefit: protection against cybercrime. 260 billion in damage caused annually in Germany alone! My mother taught me that opportunity is a thief, and how many opportunities will arise when millions of accounts are linked to the names of their users and the account balances can be viewed?
New EU legislation (#ToFR) requires all transparent crypto payments via service providers to be recorded by name from 2025: Who paid what to whom and when? All crime syndicates will certainly be grateful to the EU for this, but will be left empty-handed when it comes to Monero and co. Incidentally, this new law also encourages us to store crypto assets digitally ourselves - storing them in the custody of an exchange destroys the core benefit of every cryptocurrency.
Letztlich wird unsere individuelle Freiheit mit anonymen Kryptowährungen wie Monero gestärkt, wohingegen transparente Vertreter wie Bitcoin sie zu schwächen scheinen. Ich wählte für mich den Weg der finanziellen Selbstbestimmung, abseits der wachsamen Augen aller anderen, und bin damit sehr glücklich.
Conclusion: Privacy as a protective shield in our digital world
In a world where the words "Homo homini lupus est" still hold true, privacy coins like Monero are more than just a technological innovation. They are a necessary tool to protect against the dark side of human nature. By giving users back control over their financial data, they create a space for security and self-determination in the often harsh digital financial landscape.
Ultimately, using privacy coins is not about hiding anything, but about protecting ourselves from those who want to hide their evil intentions from us. In a world full of wolves, they provide a necessary shield for those who take their financial privacy and security seriously.
