Bitcoin “Is Failing as an Electronic Cash System”: Edward Snowden
— Net positive, Address, Crypto technology — 1 min read
Edward Snowden said that he is "very much a fan" of Bitcoin, but he thinks that its lack of privacy could mean it fails in the long term. The American whistleblower described Bitcoin’s public nature as a “core flaw” and said that the biggest reason for why it could fail is because it is not private. He also warned of the dangers of a world devoid of financial privacy with respect to crypto. The Freedom of the Press Foundation President said he hopes to see people get access to “free money in the independence sense” Snowden made the comments in a virtual interview at Consensus 2022 in Austin today. He said that there are multiple crypto assets that can be thought of as money akin to gold rather than currencies. Source