Use Cryptocurrencies Like Bitcoin, But Don’t Invest, Says Edward Snowden » Crypto Insiders

CoinDesk held its annual “Consensus” conference this week Cryptocurrency if Bitcoin (BTC)† Well-known detective Edward Snowden was also present, albeit in digital form. He says he has cryptocurrencies like Bitcoin “used to use,” Don’t invest in it.

Snowden is different from cryptocurrency investors

Snowden is the well-known whistleblower who uncovered facts about mass surveillance. He generally discourages people from investing money in cryptocurrencies, and he maintains that this sets him apart from other people in the crypto community.

Snowden sees cryptocurrency as a file a tool To transfer the future value of the investment instrument. He says that in 2013 he paid for his servers in bitcoin. He used the servers to pass on classified information about the NSA’s mass surveillance to journalists, without immediately revealing his identity.

Privacy crypto lovers

It’s a rather remarkable comment from one of the world’s most outspoken and controversial whistleblowers.

Gradually people are learning that cryptocurrency like Bitcoin is not completely anonymous and that transactions can be traced by authorities. Blockchain networks are often quite public.

So organizations like the FBI were able to quickly find the stolen cryptocurrency in many cases, Like the ransom demanded by the hacker from Colonial’s pipeline last year† As a result, governments already own huge amounts of illegally obtained cryptocurrency took overwhich they auction from time to time.

So the whistleblower has become critical of bitcoin and he is especially a fan of so-called privacy coins like Monero (XMR) and zcash (ZEC). These networks encrypt transactions in a way that makes them more difficult to trace. It came recently Snowden is the sixth anonymous founder of Zcash.

However, metadata can be tracked. “Think of it like a truck with black windows on the highway,” Snowden says. “You can’t see who’s inside, but you can see where it came from, where it went and how long it lasted. We have to make sure no one can monitor the metadata.”