Edward Snowden: "Don’t Tell Anyone You Own Crypto."
Classified documents provided by whistleblower Edward Snowden show that the National Security Agency indeed worked urgently to target bitcoin users around the world — and wielded at least one mysterious source of information to “help track down senders and receivers of Bitcoins,” according to a top-secret passage in an internal NSA report dating to March 2013. Source: The Intercept
It seems that accusers of Bitcoin as a darknet currency are slowly proving themselves wrong. The NSA has been able to track down Bitcoin users even though they appear as "anonymous", only to the extent of their physical identity. The user's password, MAC address and web activity have successfully helped NSA piece together "Bitcoin Targets" --The Intercept
Even though the news could be devastating to users who seek privacy, it shines a brighter beam of light on mainstream users a transparent financial platform for anyone with nothing to hide.
This week, Twitter CEO Jack Dorsey told mainstream media that he foresees a “single currency” for the internet coming within ten years. “I personally believe that it will be Bitcoin,” he added. Source: Cointelegraph
Of course, Snowden's focus will be on the privacy of coins since whatever he does is not exactly welcomed by governmental bodies. Snowden is however in favor of Zcash, a privacy-focused cryptocurrency Source: Investopedia. My personal favorite would be Monero having the highest potential as a privacy-based coin. As to daily transactions, scalability is still an issue with the current blockchain technologies.
Hence Smart Media Tokens (SMT), in which the blockchain technology STEEM is built on, stands a chance to outperform the other coins in terms of scalability. Based on the current Weiss Ratings for cryptocurrencies, Bitcoin is ranked at "C+", while STEEM was stamped with an approval rating of "B-". The best rating coins are only given a "B" which include Ethereum and EOS. Bitcoin news: Weiss Ratings
-tysler
STEEM coins
I think Monero and Zcash are making a fight for the best privacy based cryptocurrency:)
I am to exiting about it, so I keep it at 'don't tell anyone how much".
Great article!
The government has been able to trace users of crypto for years, so this is not too much of a surprise. But is still good for people to know!
As far as STEEM is concerned, I've been telling people on a regular basis, that just buying a bunch of crappy cryptocurrencies makes absolutely no sense. STEEM since it's a platform does have the best chance of success unlike other cryptocurrencies. If you can truly call steem a cryptocurrency. I use it more as a publishing utility than a cryptocurrency.
We're already seeing a maturity in this space, as more and more people begin to use steem internally within their businesses.
Thanks for taking the time to write this article.
Absolutely! To make a cryptocurrency associated with utility or a product is the way to go :)
We keep writing, they keep reading!
you can join our server to promote your post
https://discord.gg/BPFWudT
Makes sense, it was the robbery's that scared me though!
thank you for letting us know sir, this helps me a lot 🙏🙏
Congrats! This post was resteemed and upvoted by @postresteem!
Send 0.500 SBD or 0.500 STEEM to @postresteem with your post URL in the memo. Get your post resteemed to 6000+ followers and get a minimum of 22+ upvotes!
Want to learn more? Click here!