Another no privacy from Russian Bankers

[zasad@]

What is the scariest thing you read in this article?
In Russia, deputies proposed criminal liability for mining, they also proposed criminal liability for the release of new cryptocurrencies.But nevertheless, Russia has one of the world's largest shadow markets for cryptocurrencies and cheap electricity for mining.

[Abiky]

I think privacy is sacred. I wouldn't trade it for a green light on crypto. To hell with crypto, let the government respect privacy because it is a right, a fundamental right. Without privacy, we are not free human individuals; we are simply government subjects. Freedom is so closely associated with privacy that if privacy is completely taken away, so is freedom. Crypto is not a right. I wouldn't die for crypto. But I think I would for freedom.

When you said you would rather have zero privacy, it chilled me to the bone. It made me remember Orwell's dystopian novel, 1984.

Privacy is crypto's cornerstone. Without it, how can people achieve true financial freedom? A cryptocurrency that's constantly tracked by the government would make it no different than the traditional banking system of today. I can understand Russia wants to avoid people from conducting illegal activities, but stripping away privacy is a no-go for me. Most people don't care about their privacy so they will continue to use crypto in Russia no matter what.

I'm glad that crypto is decentralized, otherwise it would've been doomed by now. As long as there are friendly countries supporting crypto/Blockchain tech, the industry will live for a very long time. Just my opinion

[_act_]

Privacy is crypto's cornerstone. Without it, how can people achieve true financial freedom? A cryptocurrency that's constantly tracked by the government would make it no different than the traditional banking system of today.

You are right about this, privacy is very important. If the government can track crypto transactions, registering noncustododial wallet addresses with addition to KYC exchanges, this is even very far worse than banking system because data are transparent on blockchain unlike banking system, but transparent while using cryptocurrencies like bitcoin, ethereum and others. There is no better way than having privacy but the bank of Russia amwant to make this not to be possible but I hope they will fail about this.