why do you need privacy?
Source: Bob Moran
Privacy is not a luxury, it’s a foundational human right. From the Stasi’s pervasive surveillance in East Germany to modern authoritarian regimes, history shows that unchecked monitoring erodes freedom, stifles dissent, and enables oppression. When institutions or governments control financial data, they wield power over individuals’ lives. Bitcoin, as a decentralised currency, offers a lifeline for transactional privacy in an age of increasing digital scrutiny.
The Stasi’s infamous spying apparatus monitored citizens’ mail, conversations, and finances, creating a culture of fear.
Today, tools have evolved, but the threat remains. In 2022, Canada’s trucker convoy protest saw donors’ bank accounts frozen after authorities accessed data that had been illegally hacked from GiveSendGo, a U.S. crowdfunding platform.
“On January 23, 2024, a federal judge concluded that “there was no national emergency justifying the invocation of the Emergencies Act and the decision to do so was therefore unreasonable and ultra vires.””
Source: https://www.cato.org/blog/emergencies-act-after-two-years
BTW, the hacker is now facing a potential 5 year sentence in a Texas prison, as well as additional charges in Canada (better late than never). See HERE.
This financial censorship, punishing dissent by restricting access to money, highlights how easily transactional privacy can be weaponised.
Source: The National Gallery (UK)
Bitcoin’s design resists such control. Unlike traditional banking, Bitcoin transactions are pseudonymous, recorded on a public ledger without directly linking to identities. While not fully anonymous, tools like CoinJoin or Lightning Network enhance privacy, allowing users to transact without exposing sensitive financial details. In authoritarian states, this can protect activists, journalists, and ordinary citizens from retribution. For everyday users, it guards against corporate data harvesting or unjust asset seizures.
Privacy matters because it safeguards autonomy. When financial activity is monitored, individuals self-censor, fearing repercussions for supporting controversial causes or buying “unapproved” goods. Bitcoin restores agency: no central authority can block transactions or freeze funds based on political views.
Everyone should care. Privacy erosion creeps silently. Whether you’re a dissident or simply value freedom, financial privacy is a buffer against tyranny.
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