The question that pop up in my head is will privacy and anonymity flourish in the crypto space at all? I don't care about anything else that this man did, what he created or invented is what's causing this problem presently.
It will, but more time needs to pass before people are starting to realize how important it truly is to have Privacy. I am guessing we need at least a couple more years before this happens.
Also majority of new privacy coins are not just doing well, I've watched few since 2022 but man, they seem abandoned due to lack of interest.
There are a couple of reasons for this.
Monero has always been the King of Privacy Coins, similar to how Bitcoin is to all those other Cryptocurrencies on the Market right now. This means the competition is HUGE to begin with and it is insanely hard to come up with something better than Monero. Monero truly has some of the best features a Cryptocurrency can give, including extremely low Fees.
Not only is there this huge competition, but creating a Privacy Coin implicitly involves legal trouble. How many of us would be okay with knowing our Rights and Freedom is constantly at stake? You need to be kind of a psychopath to care this little. I have all the Respect for the team working on Monero for this reason.
And then Monero is already extremely fine tuned to the point where there is pretty much no thing you can currently do to come up with a Cryptocurrency that does Privacy better. There were always huge flaws found in competing Privacy Coins. This includes the biggest ones such as DASH. So obviously, using other Cryptocurrencies becomes obsolete. Why use DASH when I can use the better, particularly considering that the difference is not as simple or little as low versus high Fees but the flaws one Cryptocurrency has while the other does not. I need strong Privacy, not one that may or may not be rendered useless by Authorities or any other Third Party.
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Privacy is still very under rated. It will become a problem as every thing becomes digitalized soon. Only then will everybody start feeling limited and too monitored in all aspects of their lives. Things are fun until you start realizing that no matter what you do, at least one eye or ear is on you all the time.
But now to answer the question from the title of your Thread, no, this is NOT the end of Privacy. I would say this is just the beginning. The more restrictions and limits we will have for our Rights, the more development there will be in this area. And fortunately, the more people are going to look for Privacy, the more flaws and difficulties will be found and the faster they will be solved. It will be a wild ride once more people care, and it is going to be fun.
Thank you for the Thread, I have so much excitement every time I can talk about this subject. I would write so much more, only if I had the time and people just as passionate as I am about Privacy. These are the times I realize how much I miss Leo. He was such a great and intelligent human being.