Bitcoin: Humanity's last frontier of Privacy

[Pokapoka124]

Crypto is the last frontier of privacy we have left in today's world. We live in a world that's full of so much noise, our technology has invaded every idiom of communication we have with each other, that our techs aren't safe, our phone calls aren't safe, our face times aren't safe. Our information are being sold on the black market. The only place we have left is crypto, understanding this fact I refuse to let anyone no matter how influential you might be to tell me how to spend or use my coins. The internet has been on fire these past few weeks because of a tweet from Elon Musk. A lot of people on the internet hang on his every word. It's a shame that many don't see Bitcoin for its true value, all they care about is making quick $$$ and bend whichever way favors their interest. Bitcoiners stay strong for you're the last frontier we have left.

[zanezane]

It won't last long because we are slowly losing our freedom online with the Internet being monitored by our ISPs, it's only a matter of time before the government takes a look at what we do online through the ISP.

[Fundamentals Of]

But it is also a reality that amidst Bitcoin mass adoption and its entry into the mainstream, privacy is slowly being eaten away. Government regulations have already invaded the limited privacy which Bitcoin provides.

Today, we are already confronted with a lot of legal requirements. For example, Bitcoin-focused businesses are now required that their clients be monitored and as much as possible identified. Moreover, Bitcoin ownership should also be declared. In short, what you call as humanity's last frontier of privacy is also now being endangered.

[aoluain]

partly true OP.

It all depends on how we conduct our crypto dealings for example:

Buying a hardware wallet - Trezor and Nano require a postal address and how we pay
for the goods has to be considered.

Buying and trading in Crypto - in almost all cases we either have to complete KYC or AML
checks. We have to supply photo I.D.

The opportunities to conduct our business anonymously are becoming less and less but
I agree that Crypto being unregulated can offer a degree of control outside a countries authority
but unfortunately the vast majority of people have yet to realise this.

[okae]

... it's only a matter of time before the government takes a look at what we do online through the ISP.

It is not a matter of time... its have been done since lots of years ago.

I must agree with the OP about that people should care about his privacy, but "hidden shadows" have been trying to "force" us to do what they want, exactly what we have... no privacy = more control.

Maybe we cant be 100% private but cmon... at least people should do the minimun to difficult it...

[brainactive]

Unpopular opinion but I think any crypto with a privacy focus is unlikely to be successful. Governments don't want privacy because they want to know what everyone is doing with their money. Companies (particularly tech companies like Facebook Amazon) don't want privacy because they want your data and your spending habits so they can make money from it. Banks don't want like crypto because defi is taking away their business. Governments, banks and big tech companies will do what they can to stop and retail buyers like us can hodl all we want but without their support crypto is unlikely to reach the adoption it needs to really succeed and I worry it may eventually collapse.

[avikz]

It won't last long because we are slowly losing our freedom online with the Internet being monitored by our ISPs, it's only a matter of time before the government takes a look at what we do online through the ISP.

That's kind if true! As the web technologies are getting evolved with new analytics tools are getting introduced, we wouldn't have much freedom left in few years from now. But it shouldn't affect the legal users of cryptocurrency. Rather such kind surveillance techniques should wreak havoc on the scammers and fraudsters who are using cryptocurrencies for illegal means.

While I personally don't want to loose the last bit of privacy we are left with. At the same time, I also want to end the use of cryptocurrency for illegal activities. Difficult but not impossible!

[o_e_l_e_o]

it's only a matter of time before the government takes a look at what we do online through the ISP.

The government have been spying on your internet activity for probably the entire time you have been using the internet.

Buying a hardware wallet - Trezor and Nano require a postal address and how we pay for the goods has to be considered.

Buy in person for cash, or buy with anonymized bitcoin and ship to a PO box or other address not linked to your name.

Buying and trading in Crypto - in almost all cases we either have to complete KYC or AML checks. We have to supply photo I.D.

Trade peer to peer. I've been buying and selling bitcoin for years and have never completed KYC or so much as given out my name.

but without their support crypto is unlikely to reach the adoption it needs to really succeed and I worry it may eventually collapse.

There will always be a demand for a decentralized currency now, whether or not various governments or banks want it or not. I'd rather have bitcoin stay true to its principles and not reach global adoption than sell out everything it is supposed to be and pander to government centralization, regulation, and control.

[hatshepsut93]

If we consider Bitcoin as private, which is debatable, then you still have to agree that Bitcoin is only offering you financial privacy, and not privacy of general communications. Privacy has many aspects, so saying that Bitcoin is the last bastion is not correct. Also, cash will often be more private than Bitcoin, though I would say Bitcoin is safer than cash, since you can transact with it purely online.