Many people might argue that " If you are doing a white job , you do not need to hide your savings " .
Unfortunately this is what the government believes too , the statement might partially be correct but being discreet in terms of the investments you have made does provide you with multiple benefits. Bitcoins is far too different from the government controlled investments, unfortunately government is always keeping an eye on you , the moment your bank account displays even 1$ more than the upper margin , you should be all set to collect a tax notice .
But in the moment we do forget about two things :-
1. Privacy
2. Security
Banks and other investments do provide you with these two qualities but unfortunately being monitored every single day one can easily find out how much one have invested .
We have since long seen data breaching over the years and one might know that the best hackers are only one step away from hacking into your account and getting all the information they need.
This is where Bitcoins steps in , one can easily plan their retirement plan or invest for the future, without worrying about anything except the volatility . It does increase the criminal activities we sure know , but it is not worse than the money laundering in cash so, until and unless government decides to put a GPS tracker on every single nickel and get periodic information from the holder ( which is way stupider than it sounds ), they should worry less about cryptocurrencies wreaking havock in the country by fueling the criminal activities .
Confidentiality in terms of wealth is not always negative .
What do you think about this matter ?
P.S. Am well aware of the fact that Bitcoins is fairly transparent but at the same time taken the right steps it can efficiently disclose your information . The addresses can be tracked + the wallets are now using government recognized ID's , but paper wallets and other one's like Samourai can do quite an efficient job , more efficient than banks for sure .
Plus we need to put honourable mention for the times when Bitcoins helped people to start a revolution against oppressive government , giving people actual power can create a better world because the current political situation is far too problematic and biased to be efficient.
