Is Crypto a Secret Plot to Destroy Privacy?
Edilson 1492 says "...crypto is a con to get rid of all privacy in payment systems. Every single transaction will be tracked permanently in the future, whether you buy p*rn or popcorn it will all be there associated with your unique id tag, with no plausible deniability".
Here's my response!
🧠 Want to get smart about crypto investing? Download my brain here:
https://louisthomas.co.uk/download-my-brain/
▶️ 3Speak
Im very concerned about it. One of the reasons Bitcoin caught my attention was because of David Icke priming me on it in 2009/2010. I often wondered about what he meant when he talked about digital currency, it fascinated me even then. When i heard i about Bitcoin i instantly knew it was a BIG DEAL because of him. I believe quite a number of people doing illegal things with Bitcoin now thinking they are anonymous and safe will end up in jail. Its all there on the blockchain and they will be bang to rights.
In opinion there's nothing like "Cryptocurrency destroying privacy" banks can already transaction, the fact that the everlasting info on crypto buying and selling is only meant to forestall security, this man shouldn't act like the banking system doesn't have a tracking protocol of their own, it's totally erroneous speech from him. Brilliant response to him.
Yeah all the transactions will definitely be recorded in the blockchain. But in a safer way as not controlled by anyone. Even today all our transactions are being recorded but it is not safe because it is being done by the private companies , government and all other centralized authorities. Storing the transactions in blockchain through crypto is way more safer than being recorded by the centralized entities
One thing to add about Bitcoin and those committing illegal acts getting caught because of using it. An acquaintance of mine had another acquaintance who sold a lot drugs before he was caught and convicted a couple of years ago. The drug dealer is in IT. He sold the drugs on the dark net and imported them using his parents' sailboat without their knowledge. His customers used to pay for the drugs in Bitcoin. I met my acquaintance last spring and we discussed the case. According to him, his drug dealing acquaintance was caught because one of his customers had died which had triggered an immediate investigation. What led to the drug dealer's capture were his social connections. People had an idea who he had been buying drugs from. He wasn't caught because his Bitcoin transfers had been analysed leading to his identity being discovered. That said, Bitcoin is not a very good choice for a cryptocurrency to be used in anything illegal. I don't think without knowing exactly what one is doing any of them, not necessarily even the privacy coins, are foolproof.
No, it’s not. Cash is on its way out. Privacy coins can be used to transact privately. Even BTC can be used privately as long as one practices a little hygiene.
Posted using Partiko iOS
I totally agree, as long as we don’t let the elite get there own way . Thanks mike
my brain downloaded, i Have same reviews of Edilson
may be it tracked permanently. but i dont think so
Yes! Crypto a Secret Plot to Destroy Privacy
When crypto coin was invented most people did not value it as a coin which will be trending and have it great use, now many people are chasing and dying for it every day. Thanks for this video you have shared with here on 3speak!