ASTONISHING - Bitcoiners don't realize BITCOIN isn't PRIVATE!

Hi, this is Mike Adams here with a bonus report for Decentralize TV. And I was just talking to my co-host Todd Pitner about this topic. And we both agreed we were astonished at what we found that I want to share with you here. And I don't mean to embarrass anybody. And I'm not going to name any names or anything. But what we've found out is through

numerous conversations and interviews and talking with people involved in Bitcoin and Bitcoin-like projects, we've come to discover to our astonishment that, and this is going to be kind of a generalized statement here, but we found it to be true, that Bitcoiners don't know that Bitcoin isn't private. And also people involve another coins that are kind of like Bitcoin, or some coins that are sometimes used to

be even forks of Bitcoin, for example. They don't know that they're not private. And we have heard people describe privacy in some pretty loose ways. And I'll be specific here, though. One person we talked to was talking about privacy means that you can generate a new wallet address whenever you want. And you can do that with Bitcoin. You can just generate a new Bitcoin wallet address.

But that's not privacy. And so, I want to say that I'm not going to say this. I want to be clear about what we mean, Todd and I, as the co-host of the show, decentralized.tv. What do we mean when we say privacy crypto? And it comes down to essentially five things that on the blockchain, it's a series of transactions. But privacy means that by looking at

the blockchain, you don't know the ID of the wallet that originated a transaction. You can't read the wallet that received the transaction. You can't tell the transaction amount. You can't determine a wallet's current aggregate balance by scanning the blockchain. And also, you can't determine the history of any particular coin by scanning the blockchain. Those five things that defines privacy in the term in reality. That's private.

Because if you open up the Bitcoin blockchain, you know, block explorer, you can track everybody's transactions. You know exactly which wallet it came from, which wallet it was sent to, the amount of the transaction. And also, the history of that coin, you can scan and determine balances of wallets that were engaged in transactions and so on. It's a multi-billion dollar industry of software developers, corporations like

Chain Alices. That analyze the blockchain and provide conclusions and data to law enforcement or to crypto exchanges to make sure they're not accepting, you know, quote, tainted coin, Bitcoin that was used in the Silk Road or someplace like that, right? So in a Bitcoin blockchain, you can see everything. There's no privacy in that. And I'm just shocked that at least in my experience so far that

the Bitcoiners I've talked to they don't know that Bitcoin isn't private. So imagine the value of Monero when more Bitcoiners figure out that Monero offers the privacy that Bitcoiners thought they had with Bitcoin, but they don't have. I mean, it's wow. What a shocker. It's going to be for a lot of people. This is why I think the future of cryptocurrency is actually found in privacy

coins. I mean, the strongest future. I think Bitcoin will always have a place, by the way, and I'm not anti Bitcoin. And there are a lot of other coins that they have strengths and other areas such as speed of transactions, for example, things like that. But if you don't have privacy, why would anybody really want to use it as money in the long term? If you

don't have privacy, I mean, first of all, you're probably going to crypto because you don't trust the government's fiat currency money system. You don't trust the government itself. You don't trust the Federal Reserve. You don't trust the Treasury. So why would you use a blockchain that lets them spy on you? If you don't trust the government, almost by definition, you should be using privacy cryptocurrency. And

the privacy cryptos are so much more ahead of Bitcoin in terms of technical advancements. You know, doing a public blockchain with full transparency is relatively easy these days. Like it's easy to fork Bitcoin. Anybody can fork it at any time and lots of people have. There's really not any big technical barrier to doing it. But to build a privacy coin that actually works, that achieves those

five things I outlined there, where somebody scans the blockchain and they have no idea where these transactions came from or where they're going to or how much they are or the history of the coin or whatever. That's hard. That's hard. And that's why the privacy coin space is in my view, in its infancy. It's just now getting off the ground. Really, I know that Monero has

means that the anonymity set, which is the set of possible wallet IDs that were engaged in this particular transaction, the anonymity set will be expanded to the full blockchain of Monero, which is a lot more than 16, right? It's millions. So that's about to go into place. But what Monero is using right now today is is kind of it's kind of clunky on the right. I

mean, it still works, but what's coming next is so much better. And my point is there's so much innovation in the privacy coin space now that in my opinion, makes privacy coins much faster than they used to be. Very private, impossible to crack, by the way. And therefore much more usable. Because again, who wants to use digital currency, where everything is tracked, because that's really close

to a CBDC, except in a CBDC, they can also block you from spending your currency in order to control you. But in a CBDC, they also surveil your entire wallet and all your transactions and so on, which is exactly what they can do with Bitcoin right now. Now I understand there are some things that you can do with Bitcoin. You can use coin joins, you can

use whirlpools, you can use samurai wallet and so on. And these are attempts to try to mix some of these. And match different Bitcoin transactions with a larger pool of other people. But so that nobody knows the inputs and outputs and which ones match up with each other. I get that. But guess what, there's a cost to do that. And that cost, depending on the size

of the coin join and sort of the different options that are available to use it, that cost could be 3% of the value of all the coins. Or something in that range. It could be as little as 1%. It could be 5%. So it's kind of like paying a merchant fee, which is often 3% 4% something in order to get paid money. And we've all been

told that one of the advantages of cryptocurrency for merchants is to not have to pay the merchant fee. Like you can take Bitcoin and you don't have to pay the merchant fee. But if you have to pay a mixing fee, it's just another kind of merchant fee. Right? You still got to pay another 3% or 4% in order to mix it up so that the coins

are clean. On Bitcoin. But with privacy coins, every coin is always clean all the time. Every coin is like a freshly minted coin. Every coin has no history. Every coin has full fungibility because of that. That's privacy coins. And again, it's just a shocker to me that some people, a lot of people it seems in Bitcoin don't know that they don't have privacy. I'm. It's like

I guess if you're part of a project, you can sometimes maybe just gloss over whatever shortcomings it might have. And just think it's all good. But if it doesn't have privacy, it's got an issue. It's lacking in a key area. So. Something to keep in mind here, folks. Something to keep in mind. Thanks for listening. Mike Adams here. Be sure to check out our new show

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