Edward Snowden’s Big Problem With Bitcoin Is Privacy, Not Scalability

[kreslik.news]

Edward Snowden, the NSA-whistleblower who achieved international fame after revealing his organization’s shocking surveillance agenda in 2013, thinks that Bitcoin has a problem.

Addressing the audience at a Berlin Blockstack event in early March, Snowden said that although “everybody is focused on the transaction rate limitations of bitcoin being its central flaw,” that actually, “the much larger structural flaw, the long-lasting flaw, is its public ledger.”

Snowden explained that the idea of a public ledger “is simply incompatible with having an enduring mechanism for trade.”

“You cannot have a lifelong history of everyone’s purchases, all of the interactions be available to everyone and ... (read more)