Edward Snowden On Bitcoin: World Needs Better Option To Avoid Gov’t Coercion

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US whistleblower Edward Snowden weight in on Bitcoin’s long-term prospects, positing that its ledger being “devastatingly public” is what’s going to prove to be the “larger structural flaw.”

He shared this opinion in an interview at the Blockstack Berlin 2018 conference with Coin Center director of research Peter Van Valkenburgh. “It’s a question of how do we design competing systems that are simply so attractive that they will not be ignored by the global consumer base but also the governments themselves who are seeking to compete against them will not simply be able to outlaw them and have that be meaningful,” he said.

Personally, Snowden claims that he has used Monero while also supporting ZCash, or what he would otherwise dub as the “most interesting” altcoin that’s currently available in the market. Meanwhile, Twitter CEO Jack Dorsey proclaims his prediction of h a “single currency” to take over the internet in as little as 10 years. “I personally believe that it will be Bitcoin,” he said.

As for Van Valkenburgh, he had also recently come from a US Congressional hearing on cryptocurrency regulations, in which he said: “The fundamental innovation of Bitcoin is digital scarcity. That digital scarcity can then be employed by innovative people for a variety of innovative purposes. A token that is scarce and transferable from person to person can be used just like money, just as any good throughout history from gold to seashells.”

 

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