So, it's a new year that means new narratives. Or in the case of privacy coins, it's very old

narratives made popular all over again. And sure, Zcash and Monaro come back around every

ball market, it's true. But a lot has changed since privacy coins were prominent in 2021,

let alone 2014 and 2015 when they first arrived. I've seen a theory going around that Zcash

and Minero are obsolete, but it's not true.

They just don't offer a complete picture on how to achieve true and lasting on-chain privacy.

Privacy coins present a decent solution to keeping transactions private and so on, but most users leak identity somewhere else,

especially when they move capital over from the old Fiat world into the new crypto space,

as in when they actually

convert their fiat into crypto and back again.

I have a theory.

If user privacy is a legitimate concern, we need to stop pretending that on-chain privacy

alone solves it.

And we really need to start looking outward rather than only inward to really make a lasting

difference.

This is the breakdown. Let's get to it.

Nothing said on The Breakdown is a recommendation to buy or sell securities or tokens.

This podcast is for informational purposes only,

and any views expressed by anyone on the show are opinions, not financial advice.

Host and guests may hold positions in the company's funds or projects discussed.

First, let's look at what people are saying about the privacy narrative for crypto in 26.

Mailstream, CIO and PURPS pioneer Arthur Hayes predicted that this year's dominant narrative will surround privacy.

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