Snowden firmly believes privacy is the most relevant aspect of a business like this, and governments don’t respect people’s data. Reddit users questioned Snowden’s words against bitcoin.
The American technology consultant Edward Snowden stated that the biggest problem currently facing bitcoin (BTC) relates to its Lack of privacy during user transactions.
The former employee of the Central Intelligence Agency of the United States made this questioning during the Priv8 Virtual Privacy summit, planned by the cryptocurrency project Orchid. Snowden clearly expressed his support for the Zcash cryptocurrency.
“Bitcoin Sucks in Many Ways, Such as Financial Privacy”
During his speech, Snowden pointed out that “the concept of privacy is important to protect people from being under exploitation, especially when governments around the world are indiscreet with people’s data.”
According to the report by Steve Juvertson, CEO of investment firm Draper Fisher Jurvetson, Snowden also made other relevant considerations regarding privacy:
“What is the purpose of privacy? Why is your loss dangerous? Privacy defends the right to the consultation that leads to progress. Privacy is not for hiding but to protect. It protects the right to think differently.”
Snowden’s Onslaught against Bitcoin’s Lack of privacy is not a Recent Topic
He added that the government hasn’t hesitated about spending the wealth of a generation that will never enjoy its fruits. Snowden’s onslaught against bitcoin’s Lack of privacy is not a recent topic. The former consultant has been making these statements for two consecutive years.
Snowden even participated in the Bitcoin 2019 conference, highlighting the importance of privacy as a fundamental pillar for people’s freedom. He adhered to a very resonant argument, citing that Lack of confidentiality is an existential threat to bitcoin, and it is the only protection that users have against political strikes.
Snowden is not so friendly with the Internet
Snowden, who got in trouble back in 2013 for releasing secret documents about some National Security Agency (NSA) programs, also attacked the Internet. The defender of freedom of expression expressed in this event that the Internet is a broken place, mainly because it reflects a broken society.
The comments that Snowden made against bitcoin don’t work in an objective or unbiased way. The free speech activist and politically persecuted has openly expressed his support for the cryptocurrency Zcash, over and above bitcoin.
Reddit Users Stood Against Snowden’s Opinion Regarding Bitcoin
Reddit users questioned Snowden’s statements during the Virtual Privacy Priv8 summit about what he thinks about bitcoin’s Lack of privacy.
One of them said that: he doesn’t think many people consider bitcoin private. It is pretty and widely known that bitcoin completes its operations on a public blockchain. The transactions are also shared. A massive number of users find that the level of privacy that bitcoin offers is well enough.
Snowden’s statements against bitcoin don’t stop the first cryptocurrency from keeping its domain in the crypto world. Its price dances around USD 52 thousand, with a trading volume of USD 83 billion.
By: Jenson Nuñez
