Why the Privacy Coins Mania Is Much More Than Price Action - Ep. 945
Episode publishedPodcast: UnchainedUnchained
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Every country wants to be able to kind of protect its own privacy or the privacy of its its citizens. And by allowing these, kind of transparent transactions or at least not supporting the option to encrypt them, they're creating, risks actually to themselves.
Hey, everyone. Welcome to Unchained, your no hype resource for all things crypto. I'm your host, Laura Shin. Before we get started, a quick reminder, nothing you hear on Unchained is investment advice. This show is for informational and entertainment purposes only, and my guest and I may hold assets discussed on the show. For more disclosures, visit unchainedcrypto.com. Mantle is pioneering blockchain for banking, a revolutionary new category at the intersection of TradFi and Web3. Follow mantleofficial to learn more. Are you a builder who needs to add on chain trading to your product? The Uni
It's great to be here.
Great to be on.
For many years, experts always bemoaned that people did not seem to care about privacy. And I don't just mean in crypto. After things like the Cambridge Analytica scandal in which a company used use users' Facebook profiles to target them with political advertising, survey after survey showed that people claimed to care about privacy, but didn't actually do what was necessary to keep their information private. And the same was true for privacy coins and crypto for a long while, but then in late September, all of a sudden, Zcash jumped up to what is now more than a 1000% increase in price. Mone
Yeah. I think I mean, there's probably a few things. One, there is a narrative shift, and we see some of the narrative shifts happening because of overreach in governments, like specifically in The UK and EU. We've seen it with Canadian truckers and some of those stories. So there has been an increasing amount of attention and living within the Zcash community like I've seen it kind of gradually grow and grow and grow over the last couple years and so this kind of uptick just a couple months ago where it seemed like suddenly everybody was interested, I think it's actually been building for som
Harry, what about you? What's your theory?
Yeah. I mean, it should be obvious privacy was part of the original ideals that that motivated Satoshi Nakamoto. He didn't really obviously know how privacy worked very well. He had some interesting ideas. Each kind of Bitcoin transaction gives you a new key. But that's just simply not enough in a world of massive surveillance and data analysis. And we've seen that over the last few years in blockchain technology, firms like Chinalysis and now, you know, national firms such as Palantir, and I'm sure government agencies very much have the ability to track transparent chains. Bitcoin is a transp
So, you know, I find it interesting that both of you talk about how this is like obvious. And I agree in some respect that is true. You know? Like, I'm one of those people, and I've said this on the show multiple times. I have never or or if I have, you know, it was very early when I used the the public function on Venmo. And every time I opened it, I don't understand why people are still, you know, broadcasting out their trans I find it so strange. But the the truth is that we are the ones that are in the minority. Like, most people don't think about these things. Would you agree?
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