In this talk, we explore the concept of privacy and explain how private information can by itself form the basis of money. We explore existing ETH monetary theses, positing a new hypothesis that the combination of privacy and commitments allows for a new form of financial expression that is even more valuable than previous forms of money. We provide intuition for the thesis that decentralized privacy is far more economically valuable than centralized privacy, and can form the basis of a more efficient financial system for users while underpinning the bull case for all cryptocurrency.