I Fear for the Future of Bitcoin, if Privacy is not Correctly Addressed. Time for us to Realise the Magnitude of what we are Doing.


Hey Guys,

This is a bit long winded, but I need to get it off my chest. I just wanted to bring something to everyones attention (especially those of us in the EU), and also make the case for why I think Bitcoin needs strong privacy to win long term. This is a somewhat politically themed post, but I would implore you not to judge the content based on your own political bias, and instead understand that I am talking about these issues as I believe it is critical for the survival of Bitcoin against tyranical forces in general. Privacy is a massive issue, as lets not forget – Bitcoin MIGHT be uncensorable, but people are not! If the ‘man with a gun’ can track you, it doesn’t matter how robust the protocol is, you WILL be forced in some way to give up your sovereignty.

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In the following video, around the 18 min mark: [https://youtu.be/pXAlM2UosC0?t=1084](https://youtu.be/pXAlM2UosC0?t=1084)

… David Coburn (MEP), talks about how the EU does not like cash, and wants to limit the amount of assets an individual can own which is not in electronic fiat form (I like the fact we have to make the distinction of electronic Fiat vs Crypto now 🙂 ) .

I grew up in an EU, and on an Internet, which I believed would be free (as in freedom), forever. However, given the recent passing of Articles 13 and Article 11 in the EU, and the rampant censorship by American tech firms to silence certain political views, I am slowly seeing that the initial momentum that the internet had in regards to empowering the individual is being eaten away by the political establishment in the DEVELOPED world. They have seen the power that the free flow of information can have (Brexit, Trump, EU scepticism), and the difficulty this produces in trying to propagandise a generation of young people. Case in point, I have grown up hearing that the “Millennial” (my) generation, is somewhat lost and clueless when it comes to most topics, but I do not think this is the case. I just think that the traditional outfits which tracked such things were not looking for us where we truly were. On the chatboards and crappy game sites of the 90’s, the social networks of the 00’s, and up to this day the 4chan’s and reddits of the world, which have much more effect on democratic voters choices in recent times than most leaders would like to see. I believe that globalisation has been achieved. But it is not achieved in the way current leaders wanted it to be achieved. The global society will not be an EU style physically borderless society, it will be an internet/crypto style logically borderless society enabled by free and open access to the net.

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**Censorship of the free and open internet is here today however. Content is being taken down left right and centre (pun intended) that doesn’t go with the ruling class’ narrative. Funding channels will be the next to be hit. We are already seeing prominent figures having their patreon’s shut down, and paypal refusing service. A trend I am noticing is that a lot of these creators are now accepting Crypto.**

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The sustainment of wikileaks by Bitcoin all those years ago already showed how the value transfer mechanism of Bitcoin is sound and uncensorable in cases where other payment providers are forced to cease support. But, given the massive push by establishments to control the narrative, how long do you really think it will be before the current laws which are used today to take down ‘Hateful’ content, are repurposed to the individual to say it is illegal to fund ‘Hateful’ content via crypto. And, given that almost everyone goes through KYC to get their coins, you are trackable through the entire chain.

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Let’s not forget that fundamentally Bitcoin is neither a tech, nor a financial innovation. This is why this technology blindsided BOTH of those industries completely. I work in the software industry, and you would be AMAZED at the amount of developers who still do not know 1. What Bitcoin truly is, and 2. How it actually works from a security point of view.

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Bitcoin fundamentally came from the cypherpunk movement, and we would do well to remember that/let some of the cypherpunk beliefs guide our development of the technology.

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I’d like to know people’s thoughts on:

1. Do you agree/disagree with my assessed importance of strong privacy on Bitcoin?
2. Are there measures NOW which people can take to mask themselves? (stuff people can do without leaving the house, which are somewhat ‘average person’ friendly!) .
3. What are the up and coming features in development which will help with these issues?

View Reddit by privacyNowView Source

Happy December for Bitcoin again? :D Maybe we should add small leverage this time? 0_o


Here is analysed what happen if you deposit 2 BTC and want to go long buy.

Checking 4 scenarions: x100 x33,33 x5,55 and x0,5 leverage.

How many quantity of contracts you can max open?

What will be your profit/loss if price change about 1$?

How much you will earn using 2x limit orders?

Where will be liquidation price in every case?

[https://www.ministryofmargintrading.com/explained-guides-how-to-tutorials/bitmex-leverage-simply-explained-with-examples](https://www.ministryofmargintrading.com/explained-guides-how-to-tutorials/bitmex-leverage-simply-explained-with-examples)

with examples explaining relation leverage vs profits and liquiadation

View Reddit by marcepolak100View Source

Cryptocurrencies are a gift born of the desire for freedom from that traditional centralized system, giving the entire world the opportunity the first time in 10,000 years to control their own money


Cryptocurrencies are a gift born of the desire for freedom from that traditional centralized system, giving the entire world the opportunity the first time in 10,000 years to control their own money

View Source

View Reddit by njscoro1