Why we need Bitcoin Private

Bitcoin private is a sheer necessity in the age of the Panopticon.

We are only a month into 2018 but the crypto-currency market has already suffered two major crashes this year, caused by the investors fearing more regulations on Bitcoin or an outright ban by major governments such as China and South Korea. But to understand why these things are happening right now, in the present, we might have to look back at the past. Bitcoin was a logical reaction by the investors and the general public to the continuous trend of governments imposing more regulations on the financial markets and diminishing their citizens’ privacy through unwarranted surveillance. Governments will inherently be opposed to an asset that is hard to track and what’s more important – hard to tax. So their reaction will be imposing more regulations onto this emerging market, demonizing all privacy advocates with slogans like “Only those who have something to hide (i.e criminals) fight for privacy.” and through their puppets such as George Kikvadze (the owner of BitFury Group) and the phony Ripple Corporation that has launched what might be the biggest scheme in the history of crypto through their $XRP token. They will do whatever the governments want from them in order to squeeze a little bit of financial gain for themselves while hiding behind a fake moral quest or agenda to hunt down criminals through destroying the privacy on Blockchain or making the job easier for banks who are already making billions in profit every day. For example, BitFury Group has de-anonymized approximately 15% of the Bitcoin network while testing their new Blockchain analysis tool which Mr. Kikvadze has bragged on Twitter about, and publicly stated his corporation will offer its help to the governments and law enforcement to help hunt down criminals, but we all know that nothing will stop those institutions from abusing this technology to track transactions by random, average people who are not in any way suspicious or involved in illegal activities.

Experience tells us the governments have abused technologies like this in the past to spy on innocent people and there is absolutely no reason for them to not repeat it in the future, and not just the governments, but the BitFury Group itself could use this to spy on people for their own financial or other interest. Look, I'm not saying Bitcoin was perfect before Bitfury Group started to de-anonymize it, everyone will tell you a very dedicated investigator could in fact track your bitcoin transactions if they devoted months to analyze every single address, every single block, every single ledger entry, but what Bitfury Group does is basically produce technology that allows the investigators to decrypt 15% of blockchain in mere seconds, instead of spending months on analizing one single transaction. Ripple Corporation, on the other hand, hands out insane amounts of money to banks, which, make no mistake, have total control over the useless $XRP token. What do those banks do with these funds? They use it to purchase Bitcoin, which makes Ripple nothing more than a phony scheme for banks to try and take control of the most valuable token in the crypto-currency universe - Bitcoin, by purchasing billions of dollars worth of Bitcoin, until they hold enough Bitcoin to manipulate its price through trades on the exchanges. So, you see, the truth is, not only criminals want privacy, all rational and mentally sound people prefer to live in a private and secure environment, protected from privacy invaders like the BitFury Group and market manipulators like the Ripple Corporation. This is why we need Bitcoin Private – which I even like to call the successor of Bitcoin, for Bitcoin Private ($BTCP) delivers what Bitcoin couldn’t – very low transaction fees, very fast transaction speed and what’s even more important – incredible privacy which makes it impossible to identify the sender and the recipient of each transaction as well as the amount being sent, through groundbreaking zk-snarks technology. Furthermore, Bitcoin Private is a robust, community driven project with dozens of devoted developers tirelessly working on it every day with more than a hundred volunteers helping with every step along the way. This is why I believe this hard-fork ought to be the most major Bitcoin hard fork so far, and will surely outdo Bitcoin Cash and Bitcoin Gold, as well as bring some hope and shed some light back into the crypto-currency universe before it gets devoured by the darkness of the market manipulators, special interests and controlling governments.