The Flippening Nobody Wants to Talk About

The most fundamental shift in the crypto market just took place to crickets and hushed whispers. Why are people so scared to say what anybody who has been paying attention can plainly see for themselves?

The Cypherpunks Have Left the Building – BTC Abandoned by the Dark Web

Anybody who has been in crypto long enough has heard the term flippening tossed around to describe how bitcoin will displace the dollar or gold by hyperbitcoinization, or how ethereum will displace bitcoin with smart contracts, how solana or tron might displace ethereum with transaction speed or scalability, or maybe even how stablecoins might someday flippen fiat, and how cbdcs will flippen cash into a fully digital economy.

What no one is talking about, is perhaps the most fundamentally important flippening of all, and whose impacts may be felt in a an innumerable number of ways for decades to come. Monero (XMR), the leading privacy coin, has just officially flippened bitcoin in the surviving darkweb markets. In my opinion, monero is now the most important cryptocurrency and public blockchain on the planet.

Forums like dread, and resources like the darknet bible, are officially recommending that people avoid bitcoin at all costs and switch to monero if they value their freedom and personal privacy. This should tell any analyst or crypto investor all they need to know about the future of crypto. Bitcoin is dead, long live monero.

Fungibility is an Essential Quality of Good Money

The dark web’s adoption of XMR is directly due to BTC’s lack of fungibilty and privacy and it’s recent role in law enforcement busts of major darknet markets. This in turn, was directly due to blockchain surveillance leading to the demixing of coinjoins, and it has proven that bitcoin has a fatal and insurmountable flaw making it useless to all but those who wish to impose a total surveillance panopticon and social credit system of digital slavery upon us.

It’s really no wonder that Klaus Schwab, the wef, and other financial criminals trying to force total surveillance and financial censorship revolving around social credit systems just happen to love bitcoin, ethereum and other transparent blockchains.

The other significant aspect to the darknet’s displacement of bitcoin is especially significant since bitcoin was the original currency of the original dark web market, the silk road, and has been an economic staple to markets offering illegal goods and services for the last 12 years. Monero is a relative newcomer on the scene, as far as payment methods go, and in the last two years, it has completely displaced and flippened bitcoin.

Bitcoin’s entire value propisition came from being aml/kyc free, (supposedly) anonymous and being censorship resistant, allowing you to avoid taxes, confiscation, prohibition, and legal persecution. The silk road was the proof of concept and real world demonstration of this technology of decentralized, censorship-resistant, unstoppable open source money. All of this has changed, and bitcoin has failed.

Nothing highlights this more than the recent blacklisting of bitcoin addresses and freezing and seizure of bitcoin donations to the canadian trucker protests in ottawa. Couple this with the recent seizure of $34 million dollars in btc from a former darknet vendor due to blockchain analysis, and the shutdown of hydra market the largest bitcoin only darknet market, all of these occurring directly due to bitcoin’s failing fungibility and transparent blockchain.

Enter Wall St. Chainalysis, and Coinbase – Fully Compliant, Fully Surveilled, Taintcoin

The reality of taintcoin is here, and bitcoin is being bifurcated through surveillance into two different kinds of coins. Those which reveal full finanical data about every transaction everyone of its owners have ever made, logged in a database, and those whose owners have not been identified and fully tracked yet.

The next generation of dark net markets will be XMR only. The recent busts in the last week, combined with the seizures and blacklisting of bitcoin and wallets associated with the canadian trucker protests and donations have highlighted bitcoin’s fatal fungibility and privacy problems. One bitcoin no longer equals one bitcoin.

In my last article, I discussed why bitcoin privacy is fundamentally flawed and why coinjoins will not save you, so I won’t get into it here. Read the post if you want to catch up.

What we do know is that the unelected international financial regulation and policy recommending organization, the Financial Action Task Force (FATF), has recommended the travel rule get applied to all crypto transactions over $1000 dollars. This means full dystopian financial surveillance of the populace by the central banks, making crypto just another boring, rigged market that’s manipulated by the central bankers printing all the funny money.

This means tainted coins will not be accepted by regulated businesses, and every business dealing in crypto or offering services around crypto will be classed a Virtual Asset Service Provider (VASP), and regulated in this way, worldwide. This will create tainted discount priced coins and artificially inflated priced “compliant” coins. Tainted bitcoin will be next to useless.

This is only possible because of an emerging mutlibillion dollar industry of blockchain analytics or surveillance. Firms like chainalysis, ciphertrace, coinmetrics and elliptic have developed tools to analyze bitcoin transaction graphs, link “suspicious” transactions in clusters and follow the flow of funds even through obsfuscation techniques like coinjoins, and swapping funds through multiple transparent blockchains via token conversion.

Compliant VASPs like coinbase, binance, or other centralized exchanges all employ these surveillance firms and rate customers and transaction based on data provided by them and choose whether or not to reject coins or censor trades and transactions. This is happening now. It’s only going to get worse. Any transparent blockchain like bitcoin or ethereum is open to this attack vector. This is why the darknet has dropped bitcoin like a hot lump of feces. Bitcoin is taintcoin.

The flippening has already happened, and nobody is talking about it. Why?

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