Crypto Privacy and what you should know.
Are Bitcoin and Crypto currencies private? In this video I talk with Thaer the lead dev of a privacy project called Masari.
The perception that Bitcoin was and still is something used by criminals and casual drug users on the dark web seems to still be prevalent in the public’s thinking. What is the reality? How private is the use of Bitcoin and Crypto currencies. Is anything totally anonymous on offer in Crypto, and what are the ramifications of such a coin or potential distributed exchange.
Going into this video I realized my understanding of privacy and anonymity was limited. It will define so much of how this space moves forward and for this reason I’m researching this extensively.
Privacy vs Anonymity
Privacy and Anonymity will be central to how this industry moves forward in 2020. It has surprised me how little most people within the Crypto space seem to know on the topic. We had John McAfee on a video with us a few weeks ago to discuss privacy coins and his Dex, not the one he is going to eat if BTC does not hit one million this year, but the decentralized exchange he is set to launch. I’m trying to understand the ramifications of what John McAfee launching and I look forward to that interview. He seems set to give a big fuck you to the powers that be. Or is he? I’m really not sure. Subscribe to our youtube channel as part two of that chat is on the way. Part one got a bit derailed by other topics.
Many people are being shocked to learn how open Bitcoin is. Privacy is a feature of Bitcoin but the ease of identifying the use of a Bitcoin and ultimately the person using it surprises many. I think Dr Craig Wright explaining this, is in part due to why many people have a dislike of him. I think he is extremely knowledgeable and has delivered a message people just didn’t want to hear. Ultimately Bitcoin is an open book, a record of everything. How privacy and anonymity develop in the different Bitcoin projects and in Crypto and Blockchain in general is going to be fascinating. My personal opinion is that there will be a project that will attempt to be completely anonymous. Monero is put forward by many as that project but as you will hear in this video it is certainly not the case at present. Cold hard cash is what is used by people wanting to be off the radar. No Crypto comes close to the the anonymity of cash.
Cashless society and the dangers of this
For me a cashless society has many ramifications for privacy. The Crypto world has the potential to influence how this all plays out. Coming back to Dr Craig Wright, I think he talks a lot of sense when saying that Bitcoin can stop endless fraud cycles, the abuse of those in power will be very limited as Blockchain tech is adopted. An immutable record of everything should stop bad actors with out enslaving the everyday person. It is a fascinating debate and I encourage everyone to be part of it, your dignity and that of your children and future generations depends on it. This is happening now.