CRYPTO FUNGIBILITY AND REGULATORY THREATS
So I’ve been looking into Cryptos, and "custodial clouds"
like Coinbase. Apparently, if we consider BitCoin, if regulators
or the Poh-Lice want to, they can require Coinbase to freeze
any accounts wherein the BitCoin have been within a few
transactions of banned services such as Online Poker, or
possibly Porn, or even much worse illicit operations.
You, who happen to have the coin; are unaware of its
"shady history"… Thus, these coin would be “frozen” for you.
Hence the motivation for non-custodial or private wallets,
where you are the owner and custodian or your own Crypto,
along with the awesome responsibility to protect your stash.
TECHNICALLY, this means that BitCoin is not fungible because
"newly minted coin" without a history could become more
valuable than coin which have been in circulation and have
some (unintended) relationship to something which is BANNED.
Thus, the motivation to create XMR or Monero, which guarantees
the perfect fungibility of coins forever, regardless of their
prior circulation. That’s how cash is supposed to be; fully
fungible, and a dirty physical coin is worth the same as a
newly minted coin in commerce, in principle.
[EDIT] *DEFINITELY WATCH THIS AND YOU’LL BEGIN TO
UNDERSTAND SOME ISSUES:
ONE MORE VIDEO ON MONERO:
[EDIT] So I decided to make one of my servers a private
Monero Node but that takes maybe 24 hours to sync
the Monero blockchain . Once that’s done, then local
wallets can connect to that node for transactions. Now
that’s dedication !! LOL