Monday, November 28, 2022

Edward Snowden Says It’s Important To Use Crypto, Not To Invest In It

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Edward Snowden says it is important to use crypto and not only to invest in it, speaking at the Consensus 2022 event, where he also described most of those that signed an anti-crypto letter to Washington as prolific public trolls so let’s read more today in our latest cryptocurrency news.

Edward Snowden is a popular whistleblower and the president of the Freedom of the Press Foundation who saw more value in crypto in their use than as an investment. He added:

“I use bitcoin to use it. In 2013, bitcoin is what I used to pay for the servers pseudonymously.”

Snowden became popular back in 2013 when he leaked some classified information on the National Security Agency’s surveillance of the US citizens:

“Generally, I don’t encourage people to put their money in cryptocurrencies as a technology, and this is what distances me from a lot of people in the community.”

Financial Advisors Will Invest, etf, spot, regulators

Snowden defended the crypto industry in the face of criticism earlier this month by a group of tech experts that knocked crypto and blockchain tech in a letter to the US lawmakers to counter the industry’s lobbying efforts. Snowden said he thinks the signatories were misunderstanding the industry and recycled the number of the same legacy arguments which were made a few times in the past. Snowden added:

“The letter is an argument for the status quo. There are so many ways to address all of their concerns. All the people who have signed this letter could understand this industry. They certainly should.”

Snowden expressed admiration for cryptographer Bruce Schneier who was one of the lead signatories of the letter but Snowden described most people who signed the letter as prolific public trolls. Addressing the current state of privacy on the internet, Snowden said he thinks there’s great progress being made on encrypting the content of communications but he’s still concerned about the metadata whcih shows communications took place. Snowden added:

“Think of it like a van with dark windows driving down the highway. You can’t see who the passengers are, but you can still see where the van left from, where it ended up, how long it took – that type of thing.”

Snowden added:

“We need to make sure no one can observe that level. We need to make more transactions similar, so everyone is driving the same kind of vans and gets lost in the crowd.”

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