Why Financial Privacy Is About More Than Using Bitcoin to Buy Drugs on the Internet

Why Financial Privacy Is About More Than Using Bitcoin to Buy Drugs on the Internet

When a random person on the street in the United States is asked about bitcoin, he or she will usually respond that it is some sort of internet currency used to buy drugs online — if they’ve heard of it at all. While bitcoin is far from anonymous and private in its current form, the desire for enhanced privacy features is not just about buying drugs from AlphaBay. In a recent presentation at the Coinbase headquarters in San Francisco, California, Monero developer Riccardo “FluffyPony” Spagni described a variety of situations where financial privacy is desirable outside of breaking the law.....


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Quotes

I really like Bitcoin. I own Bitcoins. It's a store of value, a distributed ledger. It's a great place to put assets, especially in places like Argentina with 40 percent inflation, where $1 today is worth 60 cents in a year, and a government's currency does not hold value. It's also a good investment vehicle if you have an appetite for risk. But it won't be a currency until volatility slows down.

David Marcus, Former President of PayPal