The Hidden Costs Of Bitcoin Adoption

Fatima Fokina

Privacy As A Cultural Issue

As all bull markets, the recent bitcoin bull market has created a wave of hopium for the adoption of Bitcoin and the Lightning Network. While most are incredibly eager for their potential, privacy risks are too often ignored. In the recent pushes toward the hyper-adoption of bitcoin, we seem to have lost sight of our goal.

The goal of Bitcoin is to shift power from governments and banks to the people. For this experiment to work, the censorship resistance of Bitcoin is the most important aspect to keep in mind. As famously stated by Hal Finney on the cypherpunk mailing list, “The computer can be used as a tool to liberate and protect people, rather than to control them.” But controlling them is mostly what we are seeing with the advances of surveillance technologies today.

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