Edward Snowden On Bitcoin: World Needs Better Option To Avoid Gov’t Coercion
US whistleblower Edward Snowden voiced concerns over Bitcoin’s long-term prospects in an interview on March 22, saying the cryptocurrency’s public Blockchain made it susceptible to abuse.
Speaking via webcam in an interview with Coin Center director of research Peter Van Valkenburgh at the Blockstack Berlin 2018 conference, Snowden agreed Bitcoin’s ledger was “devastatingly public.”
“The much larger structural flaw, the long-lasting flaw, is its public ledger,” he said of Bitcoin, adding that he nonetheless “may” have used it to buy server infrastructure in 2013.
https://cointelegraph.com/news/edward-snowden-on-bitcoin-world-needs-better-option-to-avoid-govt-coercion
How do you look at this?
US whistleblower Edward Snowden voiced concerns over Bitcoin’s long-term prospects in an interview on March 22, saying the cryptocurrency’s public Blockchain made it susceptible to abuse.
Speaking via webcam in an interview with Coin Center director of research Peter Van Valkenburgh at the Blockstack Berlin 2018 conference, Snowden agreed Bitcoin’s ledger was “devastatingly public.”
“The much larger structural flaw, the long-lasting flaw, is its public ledger,” he said of Bitcoin, adding that he nonetheless “may” have used it to buy server infrastructure in 2013.
https://cointelegraph.com/news/edward-snowden-on-bitcoin-world-needs-better-option-to-avoid-govt-coercion
How do you look at this?
For your information, Bitcoin's susceptibility to abuse have long existed because there is NOTHING new with Bitcoin's ways apart from its increasing transactions fees and the KYC that has been recently required by some sites. I know this issue has something to do with the heavy encryption of Bitcoin and governments wanted to exact taxes from it MAINLY because a huge number of people make a lot of money from it. You know, that is just it basically. If people are not earning huge bucks from it, do you think governments will even be bothered by it? (Please also consider the increasing number of people that are into it because it is a huge factor why Bitcoin is standing strong up until now.)
