[Analysis] Privacy is a feature not a product - Ryan Gentry

Privacy is a key feature of valuable cryptocurrencies and specifically requisite to censorship resistance, argues Multicoin Capital's Ryan Gentry. But individual and institutional investors should not have to take risks or re-balance their allocations to account for privacy features. Gentry argues that Bitcoin and Ethereum "already offer sufficient privacy guarantees for most users to never need niche privacy-focused blockchains." The image below visualizes how Gentry and Multicoin see privacy offered by leading digital assets.

Ultimately, Gentry breaks down the features and trade-offs offered by privacy-focused cryptocurrencies and argues that native and extrinsic privacy offered by the Bitcoin and Ethereum protocols and ecosystems make heavy investment in and use of privacy-focused alternatives less attractive.