Be aware that there are other proposals for “electronic money” which are not nearly so protective of individuals’ privacy. Chaum’s proposals are intended to preserve the privacy attributes of cash, so the term “digital cash” is appropriate. But other electronic replacements for cash not only lack its privacy, but would actually facilitate computer monitoring by putting more detailed information into databases, and by discouraging the use of cash. If you see a proposal for an electronic money system, check to see whether it has the ability to preserve the privacy of financial transactions the way paper money does today. If not, realize that the proposal is designed to harm, not help, individual privacy. Hal Finney (Protecting Privacy with Electronic Cash, 1993)
September 2024
July 2019
The Spanish Prisoner
I mentioned before in my post “On money, Bitcoin and cryptocurrencies in general” that the financial elite will try their best to co-opt Bitcoin (and true cryptocurrencies in general) because it poses a serious threat to their global monetary system of enslavement. It seems Facebook’s recently announced “cryptocurrency” called Libra is their latest attempt. Read more ⟶
August 2018
Bankers fear cryptocurrencies while developers don’t understand the problem
Central bankers worldwide can already see the end of their exploitation coming thanks to cryptocurrencies. Read more ⟶
December 2017
On money, Bitcoin and cryptocurrencies in general
If you’ve been paying attention to what’s going on in the world these days you’ve no doubt noticed the sharp rise in the popularity and adoption of cryptocurrencies and in particular Bitcoin. Read more ⟶