Crypto Why is There a Need for Privacy Coins?

[btaliat]

I don't think there is need for these types of coins. To me it will only soil the image of crypto that has been spoilt already. The fact is that this development will encourage money laundering and even it will make government to see crypto much of a scam that tries to hide his identity.

 

[Shaf]

From what I've understood, privacy coins offer more security in transactions. The people who like these coins are those who are Uber rich and want to hide their transactions from government to reduce the taxes they pay, or not to declare some of their assets.

It also seems that with the way government are cracking down on cryptocurrency, the financial institutions and regulating it the way the want, which is not really favoring the masses, they are looking for ways out and resort to privacy coins to have more control.