The American technology consultant Edward Snowden pointed out that the biggest problem currently registered by bitcoin (BTC) is linked to its lack of privacy in user transactions.
The former employee of the Central Intelligence Agency (CIA) of the United States made this questioning this Wednesday, March 24, during the Priv8 Virtual Privacy summit, organized by the cryptocurrency project Orchid. Snowden has openly expressed his support for the cryptocurrency Zcash.
“Bitcoin sucks in many ways, like financial privacy,” he declared.
During his speech, he indicated that “The concept of privacy is important to protect people from being exploited, especially at a time when governments around the world are being indiscreet with people’s personal data.”
According to the report By Steve Juvertson, CEO of investment firm Draper Fisher Jurvetson, Snowden also made other important privacy considerations: “What is the purpose of privacy? Why is your loss dangerous? Privacy defends the right to consultation that leads to progress. Privacy is not for hiding; but to protect themselves. It protects the right to think differently. ”
Snowden, originally from North Carolina, United States, added:
Freedom is freedom. There is no freedom from risk in a free and just society. You must risk failure. Risk is the source of progress. Don’t stay safe. Stay free.
He added that “the government has burned and spent the wealth of a generation that will never enjoy its fruits.”
Snowden’s onslaught against bitcoin’s lack of privacy is not new. He has been doing them for two years when he participated in the Bitcoin 2019 conference where he highlighted the importance of privacy as a fundamental pillar for the freedom of people. There he added: “Lack of privacy is an existential threat to bitcoin. It is the only protection users have against political changes. ”
Snowden also attacks the Internet
Snowden, who came to the fore in 2013 for releasing secret documents on various programs of the National Security Agency ( NSA) also rammed the Internet. The defender of freedom of expression expressed in this event that Internet is broken because it reflects a broken society.
In addition, he said on that occasion: “We are against each other in a daily talent show. We pay the price of competing in a contest that we cannot win. Society cannot win. The dissatisfaction of the masses can be managed by distraction. ”
Snowden weights Zcash above Bitcoin
The comments that Snowden made during this event against bitcoin cannot be viewed in an objective or impartial way. The politically persecuted and free speech activist has openly expressed his support for the cryptocurrency Zcash , above bitcoin.
As CriptoNoticias reviewed on September 29, 2017, on that occasion, Snowden highlighted that the Zcash privacy makes it the best alternative. It was through his Twitter account that Snowden made this comment, adding that bitcoin is great, but “if it’s not private, it’s not safe.”
Reddit users questioned Snowden’s words against bitcoin
For their part, Reddit users questioned the words said by Snowden during the Virtual Privacy Priv8 summit about what He considers the lack of privacy of bitcoin.
One of them pointed out: “I really don’t think many people consider bitcoin private. It is quite and widely known that bitcoin operates on a public blockchain, the transactions of which are also public. I think there is a majority of users who find that the level of privacy provided by bitcoin is sufficient. “
Another follower indicated:” Snowden has mentioned in the past that his favorite currency is Zcash. I think you made a comment about Monero being a amateur project and that made the community empathize with him for several years. ”
To that comment, another user added: «Then you will want to look at Zcash because Edward Snowden says it is good. I guess both Monero and Zcash are good. ”
Despite Snowden’s statements against bitcoin, the former cryptocurrency maintains its dominance in the ecosystem. At the time of writing this note, its price is around USD 52 thousand, with a trading volume in the last 24 hours of USD 83 billion.