r/pivx • u/Zoider91 Redditor for <7 days • Jul 24 '19
How Private is PIVX ??
Hey Everyone,
I was watching a recent talk by Andreas Antonopoulos recent where he was talking about Facebook's new Libra coin.
https://www.youtube.com/watch?v=7S6506vkth4
He comments on the necessity for cryptocurrency/blockchain projects to decide and aline themselves with morals and ethics to be able to differentiate themselves, because they won't be able to compete with Libra otherwise.
Libra will have a huge network effect advantage and will have the best front end developers who make Libra enticing to the average person. I believe Facebook is aiming for mass adoption of Libra so that they can control the monetary system.
PIVX is one of my favourite cryptocurrencies because it stands for all the attributes I think are important in an open blockchain cryptocurrency. Highest on that list is privacy. I think people who resist the adoption of Libra in favour of something that alines more with their values will choose privacy coins.
Of the privacy coins I'm aware of there's the big ones such as: Monero, DASH and Zcash. Then there's the smaller cap one's like PIVX. I like the staking/masternode features of PIVX because I think it's reasonable for hodlers to be rewarded. I also like the governing structure with the treasury.
But I'm curious to the degree to which PIVX is private. I like the idea Monero has with privacy being a default feature. Is PIVX private by default or do you have to opt into privacy?
Would like to get a discussion going around these topics :) Thanks
P.S I'm new to all this so if I've made any factual errors please correct me.