Mark Mason
Well-known member
Edward Snowden Does Not Think “Bitcoin will Last Forever”
The famous NSA whistle blower, Edward Snowden, thinks Bitcoin’s open and public ledger will ultimately be the downfall of Bitcoin.
Snowden said that “[e]verbody is focused on the transaction rate limitations of bitcoin being its central flaw, and that is a major one, but … the long-lasting flaw, is its public ledger”. Snowden elaborated that “you cannot have a lifelong history of everyone’s purchases” because it does not “work out well at scale.” Snowden admitted that Bitcoin will still have an “enduring value for a long time”, but that the core development team needs to improve their rate of development or they will not be able to compete.
Snowden hinted that he once used Bitcoin to hide his identity when he revealed privacy abuse by the NSA including the NSA spying on Bitcoin users. However, Snowden now prefers Zcash since its techniques to encrypt blockchain data was developed by academic cryptographers.
Read more: https://www.dashforcenews.com/edward-snowden-does-not-think-bitcoin-will-last-forever/
The famous NSA whistle blower, Edward Snowden, thinks Bitcoin’s open and public ledger will ultimately be the downfall of Bitcoin.
Snowden said that “[e]verbody is focused on the transaction rate limitations of bitcoin being its central flaw, and that is a major one, but … the long-lasting flaw, is its public ledger”. Snowden elaborated that “you cannot have a lifelong history of everyone’s purchases” because it does not “work out well at scale.” Snowden admitted that Bitcoin will still have an “enduring value for a long time”, but that the core development team needs to improve their rate of development or they will not be able to compete.
Snowden hinted that he once used Bitcoin to hide his identity when he revealed privacy abuse by the NSA including the NSA spying on Bitcoin users. However, Snowden now prefers Zcash since its techniques to encrypt blockchain data was developed by academic cryptographers.
Read more: https://www.dashforcenews.com/edward-snowden-does-not-think-bitcoin-will-last-forever/