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Bitcoin Needs Better Privacy For Fungibility

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Aneta Karbowiak has been writing articles about Bitcoin and cryptocurrency since 2018.

When Satoshi Nakamoto wrote the Bitcoin white paper, he thought of a permissionless system to exchange electronic cash trustlessly. Today, Bitcoin has become a symbol of freedom, and as Edward Snowden says, “Liberty is freedom from permission.” By building a transparent, verifiable ledger, Satoshi introduced trust into the system, though. Trust damages Bitcoin privacy and fungibility, and it ain’t a good thing.



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