Snowden: Bitcoin’s not ideal

Following the latest reports on the NSA possessing methods allowing to monitor Bitcoin addresses of interest, ex-NSA employee and whistleblower Edward Snowden explains what he himself thinks on the issue.

According to his statement cited by several trustworthy press outlets, a new digital currency is needed to ensure the safe future of financial transactions. He calls the public blockchain of Bitcoin a flaw while many Bitcoin supporters call it a good feature which can potentially decrease the amount of fraud schemes.

He has mentioned one of the three most popular private altcoins - ZCash (ZEC) as a good tool. This cryptocurrency among with Monero and Dash has been described by Europol as coins hampering the work of the law enforcement. Edward Snowden himself is sometimes viewed as a “a grandiose narcissist who deserves to be in prison” (The New Yorker).

Despite the questionable nature of both Edward Snowden and digital currencies, the problem of privacy of finance and state monitoring indeed exists, and there are not many fiat organizations which could compete with Dash, Monero and ZCash in this regard. The NSA’s involvement has become known to public quite recently after another batch of documents has been leaked. One can see more about it in a separate report by Bitnewstoday.

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