Cryptocurrency Will Bring Us More Freedom – Right?
Even in advanced and supposedly free Western countries, financial freedom is likely to be reduced once cashlessness becomes the norm. Concerning Bitcoin, there are several companies dedicated to tracing the blockchain for government interlocutors. The very word “Chainalysis” can send a chill down the backs of many cryptonaughts. On the surface, it seems the antithesis to Bitcoin in and of itself: what you do with your Bitcoin is your business; what I do with mine is my business. However, the transparency of the blockchain is a necessary component for consensus. Gradually, methods of obfuscation such as CoinJoin have come about. These still pale in comparison to the privacy offered by blockchains like Monero. Bitcoin may continue to be the most liquid of the crypto markets. But the most fungible and least subject to existential fungibility attacks will be the coins with the most opaque transactional modes. Monero, Zcash, Beam: all of these coins are pioneering the idea that money truly only belongs to the person who holds it, and what they do with it is between the sender and the receiver.
**Source: ** https://www.ccn.com/cryptocurrency-will-bring-us-more-freedom-right