Merry Christmas and happy holidays to ya’ll out there 
. I hope everyone takes this time to enjoy their loved ones, open gifts, and eat wonderful comfort food. Personally, the food is always my favorite part of every Christmas. Eggnog, rib roasts, casseroles, and mountains of deserts – what’s not to like!
I didn’t plan on doing any crypto posts today, but here I am sitting nestled on my couch with a steaming cup of coffee next to my Christmas tree typing away, no rest for the wicked. In truth, I have found massive amount of enjoyment writing these articles, so I couldn’t imagine a better way to spend my morning, regardless of the holidays.
Edward Snowden is probably the most notorious and polarizing whistle blower in modern history – that’s a fact. This article is not about going over those tremendous details, but instead Snowden has recently been weighing in on crypto, most notably Bitcoin.
In an interview with Naomi Brockwell Snowden had some serious criticism and heat to throw down on Bitcoin regarding its privacy and scaleability. Bitcoin is great for store of value (for now), but too many maximalist religiously believe Bitcoin will be the ONLY crypto across all applications of blockchain technology – wrong. Here are some of bombs Snowden dropped:
…we know the Bitcoin network does not support throughput. Unfortunately, the Bitcoin network as it exists does not provide the privacy protections really necessary for these kinds of transaction.
I use bitcoin, I’ve used bitcoin before, I’ll continue to use bitcoin. But it’s very difficult for me to use bitcoin and yet that is a huge improvement to credit cards, which I cannot use because those networks are not even pseudonymous, in the way that a bitcoin transaction would be
Snowden is not the first tech celebrity to give public critical options on Bitcoin and its actual limitations. It’s actually a breath of fresh air to see the tribalism staring to fracture.
If you would like to watch Snowden interview on Bitcoin check it out here.
Don’t get me wrong, Bitcoin is fine – but lets call a spade spade.
