2016/10/14 4:48 PM
Since its inception, Bitcoin as a payment medium has a cemented an impression of being anonymous and privacy-centric. So much so that the currency has been glorified by the masterminds behind the doomed Silk Road, and advocated by recognized influencers such as German politician Franz Schäffler, celebrity Ashton Kutcher, famed author & economist David Friedman, and finance guru Kevin O’Leary to name a few.
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Kutcher in particular said that, “I think the fact that you can buy drugs and ammo with [bitcoin] is actually a validator of the currency itself.”
The downfall of Silk Road, however, speaks volumes about the imaginary shield that people think they are hiding behind when making bitcoin transactions.
An Untraceable Payment System, the Dream for Privacy Advocates
Pantera Capital’s Ronald A. Glantz describes Bitcoin as, “A consensus…