Snowden: Beware of the privacy risks of Bitcoin, its transactions are not anonymous and can be traced back to individuals

Odaily News Edward Snowden highlighted the pitfalls of political allegiance and privacy issues surrounding Bitcoin in his keynote address at the Bitcoin 2024 conference. He urged individuals to participate in voting but warned against blindly following political ideologies. Snowden also raised significant concerns about Bitcoins privacy. He noted that Bitcoin transactions are not anonymous and can be traced back to individuals, which poses a risk to personal privacy. Despite a common misconception that Bitcoin transfers offer complete anonymity, Snowden clarified that most transactions can be linked through various entry and exit points, such as exchanges that meet regulatory requirements. This connection makes it possible to trace transaction histories, which can reveal sensitive information about users lives and relationships.