With the growth of the crypto space, new coins are created every day that have different functions, tokenomics, chains, and followings. It seems like people are always looking for the latest and greatest new coins that are going to surge in popularity or unlock a new economy. However, there are several existing coins that, by internet standards, are ancient. Yet, these coins have certain properties that are not easily replicated. For example, Monero is a truly anonymous crypto. While the encryption and privacy of Monero is unrivaled, how valuable is that functionality compared to coins with smart contracts, staking, lending, and NFT capabilities?

To answer this, we have to ask ourselves what a lack of privacy entails. This is best done with an example. Most people keep their money in a bank, and their crypto on an exchange. However, there is a growing number of financial institutions that block transactions from their bank accounts to crypto exchanges. This puts up a barrier to turning your money in your bank account into crypto. The problem arises from the fact that your bank account and all transactions are monitored, screened, and controlled by a third party that you do not have any control over. But, even if you circumvent that barrier, say by depositing money from your bank account to Paypal and sending the Paypal balance to an exchange, a new set of roadblocks can occur. For me personally, I like to gamble. But, exchanges such as Coinbase are aiming to distance themselves from gambling, and regularly freeze accounts that send and deposit money to and from online casinos through Coinbase. But, these casinos typically only accept Bitcoin, Bitcoin cash, and Litecoin. So, you end up needing to overcome the bank barrier and then the exchange barrier by utilizing a wallet. Yet, the transactions going between the wallet and the exchange are monitored, and it can be established fairly easily that the traffic is coming from a casino. Then, you end up needing to create new wallets every time you deposit and withdraw funds from the exchange and the casino. That is the result of not having privacy - you don't get to always decide what you get to do with your own money.

So what does privacy do? It allows you to do whatever you want with your own money without dealing with any barriers from third parties determining where and what you can and cannot spend your money. Money you worked for, paid taxes on, and see get eaten away by inflation. Today, the barriers are banks not liking crypto exchanges, and crypto exchanges not liking casinos. But what will it be on tomorrow? We have seen Canada freeze financial accounts for truckers simply because they disagreed with the government. We see police seize money through civil asset forfeiture if you have cash without a receipt for it. Without privacy, the government and corporations can choose to block any transactions they see fit. With privacy, they can't do anything. 

I believe that for now, the crypto space is focused on functionality and creating new economies. But as online surveillance tools and regulations evolve and increase is usage, the importance of financial privacy will only grow and the value of Monero will become clearer to the public. Monero is money, money that you get to decide what to spend it on and when to spend it on. It is the fabled unmarked nonsequential bills. Gold without fingerprints. A truly fungible currency.