First of all, let's clarify - Bitcoin, exactly like most cryptocurrency, is not anonymous. I've talked about the importance of anonymity and privacy earlier, so this time let me explain my opinion mainly about anonymous cryptocurrencies. And why I think they are the future.
Let's look back, before Bitcoin...
That was a dark time :)
Long ago, people decided to shift their obligations of storing, moving, sending and counting their savings to banks. We abandoned some of our rights in return for some comfort and sense of security, thereby granting the banks of power, which they naturally neglected. As a result, the banking system turned into a huge financial pyramid and sometime later into an ideal tracking tool. Of course, why should they work on security, if they can just request our personal data that is not really needed to provide us the services we need. Will the government argue? I don't think so...
What was changed?
According to the Bitcoin's whitepaper, we can say that the mysterious Satoshi Nakamoto achieved his goal. Even if not Bitcoin, then another cryptocurrency is capable of providing quick, secure and irreversible transactions, with lower fees than the centralized financial systems. A public and transparent blockchain and the absence of centralized power completely prevent the possibility of neglect of the power of individuals.
What next?
Of course, there is always room for innovation and they will always be. I believe that there will be new consensus algorithms that will allow for faster and cheaper transactions, without sacrificing security and decentralization. But yet we can say that all these problems are mostly resolved.
But the problem that has been and remains is anonymity and privacy. On the one hand, almost every cryptocurrency theoretically gives us the opportunity to use it while remaining anonymous. But, yet the government is so used to track us and our finances, that the acquisition of cryptocurrency without compromising our identity is very hard (even impossible for some of us). And in this case, the transparency and publicity of the detachment give the opposite effect as yet ...
Anonymity, privacy and in the aftermath a complete freedom from the current financial system is the next important step for the cryptocurrency. Of course, Bitcoin and now can be anonymous for a skilled hacker, programmer or other representatives of the IT industry. And yet, the strength of the cryptocurrency in its prevalence. It is unlikely that an ordinary journalist, politician, activist or seller in a store will be able to dive into blockchain and understand how it works (and I'm not talking about the integration of Tor or I2P). And, of course, they should not, this is the developers' work.
Work of the rest is choice and they will choose what they really need ;)
Satoshi Nakamato is a person which the whole world take as a joker because he is anonymous. Like I said ealier in my post, "Cryptocurrencies will do to banks what emails did to postal services". It will get to a time where our various physical curencies (note and coin) will not be relevant... Thous, crypocurrency is the future of the global market
"Cryptocurrencies will do to banks what emails did to postal services" I like it :)
Nice post. Anonimity Will be major quality a coin could offer. Which privacy coins do you think Will do best?
Thanks for reply, currently I'm for DeepOnion, given their strong community and promising roadmap.
Also it's a young coin, so there is a nice opportunity to make some money ;) It's not on the first place for me, but money is never superfluous))
Excellent article, many people believe that bitcoin gives them anonymity ... and the real thing is that you can see the transactions by the chain of blocks .. you touch a topic where many believe they know and have that flaw.
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