Bitcoin News and Finance
Edward Snowden Knocks Alex Gladstein’s Crypto Critique- ‘Worst Part of Dragon-Level Wealth Is People Devolve Into Dragons Themselves’ Skip to main content

Edward Snowden Knocks Alex Gladstein’s Crypto Critique- ‘Worst Part of Dragon-Level Wealth Is People Devolve Into Dragons Themselves’

Edward Snowden Knocks Alex Gladstein's Crypto Critique- ‘Worst Part of Dragon-Level Wealth Is People Devolve Into Dragons Themselves’

On Saturday evening, the privacy advocate and well known whistleblower, Edward Snowden, spoke out against some criticism stemming from the Human Rights Foundation’s Alex Gladstein. Snowden attacked the tribalism taking place in the crypto space and said that some people “lose sight of the world beyond their cave.”

Alex Gladstein Calls Snowden’s Interview Clip a ‘Disaster’

Just recently, the Human Rights Foundation’s (HRF) Alex Gladstein had some words to say to the former NSA contractor and whistleblower Edward Snowden. Gladstein didn’t like the statements Snowden made in a recently published video, when the privacy advocate criticized bitcoin (BTC). It’s not the first time Snowden has given BTC a scathing review that knocked BTC’s ability to scale and privacy.

For instance, on December 25, 2020, Snowden explained that BTC developers have had years to address scaling and privacy in a video with the popular Youtuber, Naomi Brockwell. The famed whistleblower said he was “puzzled” and developers have “had years to do it.”

Snowden’s latest critique of BTC stems from an interview he did at Decrypt’s Ethereal 2021 conference. Following the video, Gladstein an outspoken proponent of BTC said that the Snowden video clip was a “disaster.”

“Respect Snowden for his work on privacy and criticism of CBDCs. But this clip is a disaster. TLDR: Taproot makes Bitcoin privacy worse, Lightning is ‘shenanigans,’ attacks core devs, hypes NFTs + privacy coins (except monero which he trashes). When Snowdencoin? Say it ain’t so,” Gladstein said. However, not everyone agreed with Gladstein’s summary of the video.

“Just watched the clip,” Blocktower Capital’s Ari Paul replied to Gladstein’s tweet. “What he says is very different from your summary. ‘Great project’ w/known privacy vulnerabilities != ‘trashes.’”

But Gladstein wasn’t impressed with Ari Paul’s statements and again criticized Snowden’s commentary in his reply.

Gladstein added:

What about the rest? You’re ok with the conclusion that Taproot is bad for privacy and that Lightning is “shenanigans”? Or that core devs have intentionally failed to improve privacy?

Snowden Fires Back

It didn’t take long for Edward Snowden to respond to Gladstein’s tweet and the whistleblower trashed tribalism and BTC maximalism.

“The worst part of cryptocurrency transforming into dragon-level wealth is witnessing good people emotionally devolve into dragons themselves: so intellectually paralyzed by the fear that everyone they see threatens their hoard that they lose sight of the world beyond their cave,” Snowden replied to Gladstein’s statements.

“This is such a profoundly misleading TL;DR of a privacy-focused talk that it’s hard to call it anything but intentionally deceptive,” Snowden continued. “To the extent I own crypto (unless and until it has been lost in boating accidents), I own more bitcoin than anything else—but despite the theoretical risk of harming the value of that ownership, I continue to criticize Bitcoin’s (and other cryptocurrencies I hold) failings because the public cost of doing otherwise would be orders of magnitude greater than that individual private gain. Moral compass,” he added.

Snowden further said:

Bitcoin’s disastrous privacy is the ‘missing stair’ of cryptocurrency. Every expert understands it’s a problem, but—as experts—they themselves know how to compensate for the risk in their own personal interactions with Bitcoin, and therefore feel no urgency to actually fix it.

Snowden: ‘Only Privacy Guarantees Fungibility’

The former NSA contractor also said that privacy coins are “great” but they don’t have the dominance BTC has and called it “Ultima Ratio Cryptum.”

“The central property of cash is fungibility—meaning a dollar spent by a plumber is honored equally to one spent by a sex worker: they are indiscriminable,” Snowden stressed. “Adversarial chain analysis of Bitcoin’s public ledger reduces its fungibility over time. Only privacy guarantees fungibility.”

Some people agreed with Snowden saying: “BTC core devs haven’t prioritized privacy because real, inherent privacy would stand in the way of institutional adoption. Their main objective is institutional adoption and wealth absorption. Not personal liberty.” Software developer Jeff Garzik also wrote a comprehensive thread about Snowden’s most recent commentary and criticism toward Bitcoin developers.

Snowden even argued with software developer Matt Corallo on Twitter after knocking Gladstein’s critique. “Taproot nor Lightning come even *close* to addressing Bitcoin’s privacy problems — and in fact even provoke arguments for how they hurt it (at least short term),” Snowden remarked.

As of 2021, the Lightning Network pales in comparison to the bitcoin used on Ethereum’s network and Taproot already sparked disagreements over how to activate the upgrade. Moreover, Blockchair’s lead developer, Nikita Zhavoronkov has criticized Taproot on Twitter and people have wondered if the meta-consensus problem can even be solved.

The podcaster and BTC maximalist, Peter McCormack, tried to use Snowden’s recent tweet as an opportunity to interview Snowden but got no response. Another BTC maximalist agreed that Snowden should accept McCormack’s interview offer.

“Edward, you have nothing to lose by talking with Peter and others on his cordial, non-adversarial show, and your followers could hear many helpful insights they may never learn of if you don’t. As a dev who is aware of the issues in play, I encourage you to consider his offer,” software developer Daniel Buchner said.

Check out Snowden’s entire video commentary below from Decrypt.co’s Ethereal 2021 conference.

What do you think about Snowden’s response to Gladstein on Twitter? Let us know what you think about this subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory