In an hour-long talk as a virtual guest at Camp Decrypt in Napa, California, Edward Snowden, the famed computer intelligence consultant, gave his take on the state of Bitcoin, Ethereum, and crypto in general, primarily from a privacy perspective. And in this regard, in Snowden’s opinion, crypto as a whole is moving in the wrong direction. Snowden expressed his concern that a few centralized players, such as Coinbase, will give concede to the regulators, and once that happens, it’s over. “Don’t Trust, Verify” is the Bitcoin mantra, but from Snowden’s perspective, although he has a love for Bitcoin, Snowden was critical of Bitcoin and its lack of anonymity on transactions. He fears that the mass adoption and onboarding process of billions of people to use crypto will kill the spirit and purpose of crypto, similar to that of the original web. In the end, the regulators will have their CBDC and the major centralized players will have KYC and start scanning your face in order to buy.
Edward Joseph Snowden is an American and naturalized Russian former computer intelligence consultant who leaked highly classified information from the National Security Agency (NSA) in 2013 when he was an employee and subcontractor. His illegal disclosures revealed numerous global surveillance programs, many run by the NSA and the Five Eyes Intelligence Alliance with the cooperation of telecommunication companies and European governments, and prompted a cultural discussion about national security and individual privacy.
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https://decrypt.co/videos/live-events/PEhewv2h/edward-snowden-talks-tornado-cash-sanctions-ethereum-merge-daos-and-nfts-at-camp-decrypt-2022
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Edward Snowden: Crypto Is Heading In The Wrong Direction
23 Comments
Hmmm… That's a fact!!
This is all fud the whole world will be using some sort of digital currency the next 5 years, its better to have some skin in the game then none at all… its a 3 year repeat cycle !
the biggest misconception about the police state we're in is that it will be forced onto us. we will welcome it with open arms for quicker checkouts in the grocery store, we will welcome sensors in our body that contain our medical records, that also track us.we will install sensors into our children the way we do cats now. right after the corporation is ready to profit from it ,there will be a huge uprising in child abductions ,and we will all beg for our overlords to keep us and our children safe!
He is spot on. If there is no privacy, then whole idea of decentralization is pointless.
love how comfortable you are in your world
I thought bitcoin was built for transparency, not privacy. both are virtues. and both bitcoin and monero can coexist.
This is why Cardano's success is important. Holds true to original crypto principles. No bankers and VCs like ethereum.
The lack of privacy on something like bitcoin doesn't really bother me, but that's because I don't see bitcoin as something for day-to-day transactions. To me, it's more important as a long-term shield from an irresponsible banking system and out of control government spending. For me the most attractive parts of bitcoin are the fact that nobody can arbitrarily print more of it, and it is very difficult to take it away from me without some level of consent.
Bitcoin's use case isn't to be the ultimate privacy coin. It's solves many other problems. Ultimately, there's nothing that can be done for the majority of people. They are sheep and they are always going to be sheep. The best any individual can do is try to position oneself in such a way to hopefully avoid being dragged into the meat grinder with the herd.
Real pros know that this is actually time to buy and I would buy Amazons new one. Did you know they entered? There are invites where you get into it and the one with the best bonus is found at: AMA1000X
Edward snowden is an evil traitor who is hiding in evil Russia. He is a snake and full of resentment. Don't trust his words.
Cardano will be the world financial operating system !
Wonder what he thinks about the cardano ecosystem
Edward Snowden has been copy/pasting my thoughts on crypto. Maybe I'm more anti-BTC than Snowden but my line has always been this – BTC is mis-sold, it has zero utility, neither does any other coin (see Buffett quotes) except for the ones Snowden listed here, in particular, MONERO. Snowden said, "there are some super toxic individuals in XMR". That is an understatement. The reason XMR has supremacy is due to the inherent privacy features (which may or may not have been cracked by 3 letter agencies).
I'm beginning to really hate YouTube censorship like I can barely leave a comment without editing it 10 times to avoid their filters. I'm not saying anything bad, nothing illegal, no swearing, but I trigger the algorithms like crazy, when I post the nanny-bot redlines
I really do not see how sitting on the sidelines and doing nothing proves anything. The true visionaries go out and build solutions to the problems they see coming rather than simply talking about it. Why can't Snowden do the same? Or is all he can do say I told you so?
original design was about control not privacy.
I think it’s gonna be just fine. I’m sure someone will make a BIG investment in Bitcoin soon 😂
Snowden is no 🤩 fun .
The miners could use a raise because of the price of electricity ⚡️
🐇💩💎🔲⛏⚡️💵 11:11
There's something about this guy.. I don't like him
…says the guy living in Russia…
I mean let's be honest he doesn't make the best decisions or see future trends or events clearly…
So we should probably take his Outlook with a grain of salt….
God bless him..
People likes their privacy until they lose money and wants more regulation.
I feel like they letting crime get out of control so they can head to towards the police state
Bitcoin died the day the first bitcoin exchange opened.
This is just pure junk and it will go to 0 once the government want to.