Snowden Calls Bitcoin’s Praised Publicity its Drawback

Snowden Calls Bitcoin’s Praised Publicity its Drawback

Bitcoin bulls for long have been praising its central feature – the availability of blockchain for public access. That is the reason why so many tech giants and shipping companies decided to resort to blockchain use for better products tracking and so on.

However, this peculiarity might not be beneficial for bitcoin and its brethren, as known American whistleblower believes. Edward Snowden, who recently took part in an online interview with Peter Van Valkenburgh, the Coin Center head of research, said that public blockchain of cyber money could be misused.

Snowden Warns

Snowden seems to be so cautious about crypto ledger that he even called their publicity devastating in an interview this week, according to Cointelegraph.

In particular, the debunker said:

“The much larger structural flaw, the long-lasting flaw, is its public ledger.”

Snowden emphasized that this problem – the publicity of cryptos – allows governments to control people’s actions more. Therefore, the alternative to bitcoin and its ilks is yet to emerge.

He explained that the humankind needs another development, which would still be applicable in life for lots of people as well as it would be difficult for gov’ts to proclaim them illicit.

Has He Ever Used Cryptos Before?

As Snowden said, notwithstanding the above he “might” have used BTC to purchase server infrastructure around five years ago.

At the same time, he said that he used other cryptos too. For instance, among them, there is Monero, which he affirmed to have used.

He also repeated that he embraces ZCash. The reason for that support, Snowden explained, lies in the fact that this particular coin is the “most interesting” alternative to BTC in the crypto ecosystem and that’s because of its exclusive privacy system.

By the way, earlier one of the media outlets published documents, provided by Snowden, which hint that CIA has been tracking bitcoiners since 2013.

Bitcoin’s Volatility? In 2017 BTC Was More Stable Than In Its Early Days
Despite some 30% crashes in 2017, bitcoin managed to increase by total 1,400% last year, conquering the world’s financial stage. Banks are becoming...
Stablecoin - Everything You Need to Know
What Is A Stablecoin? You must have heard of cryptocurrency which has been the recent talk of the town. Well, stablecoins are a form of...
Gold Pulls Bitcoin Investors From BTC, Says Van Eck Associates CEO
In 2017-2018 bitcoin bit gold as bait for investors. However, the situation is expected to change in 2019 as investors already hope more for the gold...
Crypto-Supporter Milne Said Bitcoin’s Only Ledger to Last 100 Years
As bitcoin continues trading approximately Twitter thread entrepreneur Alistair Milne forecasted that the upcoming cyber money bull will decide which...
Increased Supply of Altcoins Will Depress Bitcoin, Says St. Louis Fed Report
As it is known, crypto-supporters (bitcoin bulls) widely believe that the increase in the capped supply of all cyber-coins will boost bitcoin’s value...
BTC Market Cap Will Surpass $7 Trillion Gold Cap, Say Winklevoss
Recently, Tyler and Cameron Winklevoss, world-known entrepreneurs and early supporters of cryptos, have taken part in Reddit’s traded at $4,061 and...
Crypto-Community Celebrates Bitcoin’s 10th Birthday
This year’s January 3 marks a decade since the first bitcoin block was generated by Satoshi Nakamoto. Back then, in 2009, this person (or group of...
Best Bitcoin Memes in 2018: ‘Hodling’ and Crying
2018 has not been an easy year for bitcoin, not at all. Whereas it left 2017 at the price of $10,000, it started the new year in a pretty bullish...
Bitcoin Hits $4,190 For The First Time Since Early December
For the first time in a fortnight, bitcoin has managed to creep above the $4,000-margin. As of writing, the king of all cryptos is traded at $4,031...
Bitcoin Surpasses $3,500 on the Anniversary of the $19,000 Record
Today, December 17 marks an anniversary since bitcoin hit the $19,000 high for the first time ever. Moreover, this day marks a petty recovery of the...