Bitcoin, Crypto currency, Blockchain

Edward Snowden: Bitcoin is a new Form of money

5877dd037a7da92427347ea87b67def7 - Edward Snowden: Bitcoin is a new Form of money

Edward Snowden: Bitcoin is a new Form of money

Home News Edward Snowden: Bitcoin is a new Form of money

Of
Marcus Misiak –
25.11.2018

In 2013, Edward Snowden broke in a dramatic way, the American secrecy laws, and revealed many secrets of the NSA. As he explained in a series of Interviews, the monitoring of the people of the world continuously. No wonder, then, that Snowden himself is a Fan of the Blockchain technology and Bitcoin.

Since Edward Snowden to Russia, has fled, has given to the world famous Informant in numerous Interviews. In view of the fact that his views on the world coincide with the Ethos and the raison d’être of Bitcoin, many have asked the former NSA contractor, according to his Considerations about Blockchain technologies as a Whole. In a newly surfaced transcript, Snowden explains his view of the Blockchain technology, Bitcoin and Monero.

In the loose transcript and text exchange with his lawyer, Ben Wizner, of the have been published by McSweeney’s, explains Snowden, the underlying technology of Bitcoin, and says that the core component is trust.

Imagine a old database in which each entry can be changed by overwriting and click Save. Imagine now, that the entry contains your Bank balance. If someone can just arbitrarily change your balance to Zero, or the shit? Unless you have a student loan. […] Block chains are an attempt to create a history [of transactions], which can not be manipulated. In the oldest and most well-known design, we will speak of Bitcoin, a new Form of money. But in the last few months, we have seen efforts, all kinds of records in these histories. Everything that needs to be fixed. For example, medical files, but also deeds and contracts.

Snowden, in Russia, was granted political asylum, says that well-designed block chains are manipulate virtually impossible. And in “a world full of backstabbing shit, it is a radical development, to prove that something is true.” In the long run, believe Snowden, that the Blockchain could make it difficult for the unauthorized Surveillance of American civilians. A robust network could end, in his opinion, the need to trust a centralized Institution. Snowden said:

There is no Takedown mechanism or another “Let’s be evil”Button, and the creation of such a global consensus of at least 51 percent of the network in order to support the Change in the rules.

Wizner asked Snowden if Blockchain-technologies, huge Tech deck can weaken monopolies, such as Amazon or Google. Snowden, who remained for the prospects of this Innovation cautiously optimistic, said that for the foreseeable future, such giants of your high horses a request was thinking.

Taking into account his penchant for privacy, Snowden also brought Monero, and ZCash and pointed to his assessment that he preferred Monero, because it is private by default.

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