[2018-03-23] Edward On Bitcoin:World Needs Better Option To Avoid Gov’t Coercion

[Hannahanto]

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?

[Jating]

Satoshi didn't envision that bitcoin will take over the world. He just wanted to have a payment system that will be used universally. Sadly though it was being abused my criminals and hackers that why it gone to a lot of scrutiny from the governments.

If someone doesn't want to go to bitcoin because of privacy issues, then pick privacy coins. I don't agree with him regarding the public ledger, we can used tumblers to hide our activity if we wanted to.

[Slow death]

Edward Snowden On Bitcoin: World Needs Better Option To Avoid Gov’t Coercion

hahahahaha

he is dreaming that someday a government will regulate some completely anonymous currency and say to its people: "do whatever you want we will not stop you..."

Governments are made up of a small group of people who have their own interests, but I agree that society must respect the laws. There are a lot of criminals who commit very serious crimes, imagine if this criminal has access to completely anonymous coins, that criminal will have the financial means to commit more crimes and the police will not be able to find him and arrest him.

Have you ever imagined a pedophile having financial resources? a pedophile having access to completely anonymous coins, I mean the pedophile will have means to commit many crimes and will not be found and imprisoned

How do you look at this?

he is losing his mind

[richardsNY]

Bitcoin made governments shake on their on debt based foundations, and that has never happened before. If we look at how mining farms and nodes are being hosted accross the globe, there is basically no way to shut down or interfere with Bitcoin. It would be different if everything was centered in just one single country, but that fortunately for every Bitcoin enthusiast isn't the case. That's why I also believe it is a good thing that miners in China are looking for alternative locations to run their operations, because as it is right now, a lot of the hash rate is centered in China. On top of that, most people don't really want to distance themselves from the government, and thus have no problems with being 'recognizable'. Those who want that privacy, will have their options to do so, and they know where to go to get that privacy.

[La Maree Noire]

For this time I agree, Bitcoin isn't the best token. There are plenty of more secure and interesting tokens

[Qartersa]

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?

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.)