Edward Snowden On Cryptocurrency. NSA Is Tracking Bitcoin

a year ago

A former NSA and CSI employee, Edward Snowden, doesn’t trust Bitcoin and does not recommend using it.

We’ll tell you the truth about Bitcoin that was stolen by Snowden from the archives of American Intelligence Agencies.

Bitcoin is not confidential

Edward Snowden is known for revealing the truth about global American surveillance of citizens of many other countries. He has risked his own life so that people would find out about the absence of privacy on the Internet.

Things don’t look good for Bitcoin privacy either. Companies such as Chainanalysis and Bitfury Group have already been using specific tools to track transactions. Specifically Chainanalysis does it for US Internal Revenue Service, helping them identify the specific owners of the cryptocurrency who are not in a hurry to share their profits with the government.

NSA is tracking Bitcoin owners

But everything is worse than we could have imagined. Among almost two million documents that were stolen by Edward Snowden from the archives of American Intelligence Agencies is a sensational information about Bitcoin.

In March 2018, it became known that NSA has been conducting a total surveillance of all Bitcoin addresses since 2013. They are not analyzing only transactions, but they’re also using certain programs to collect data from the Internet in order to identify the real owners of the Bitcoin wallets. The information about the devices, passwords and personal data of almost everyone who owns the first cryptocurrency is at the disposal of the secret services.

What’s the problem with Bitcoin

The main issue with Bitcoin, as Edward Snowden says, is its ability to view the history of all the network transactions: “Public ledger is Bitcoin’s big flaw”

The original Bitcoin concept implied that transactions will be visible for the network users but no-one will know who is behind the specific bitcoin wallet. But the secret services have ruined this principle, destroying the privacy in the process. Here’s what Snowden thinks about it:

“BTC is simply incompatible with having an enduring mechanism for trade, because you cannot have a lifelong history of everyone’s purchases, all of the interactions be available to everyone and have that work out well at scale”

Edward Snowden recommends telling no-one of your cryptocurrencies and moving on to using anonymous altcoins. Only so can you protect your privacy.