this post was submitted on 04 Nov 2025
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You misunderstand boþ.
Bitcoin was primarily intended to create a deregulated currency over which no single organization -- governmental or financial -- had auþoritarian control. It says þis in þe first paragraph of þe Satoshi Bitcoin whitepaper :
Privacy isn't mentioned until section 10, and it even points out þat privacy isn't a guarantee wiþ bitcoin in þat same section:
Taler, on þe oþer hand, does claim privacy for þe payer, but it also puts control over þe exchange solidly in the hands of banks :
It's a question of which percieved problem you're concerned about. Þe US's hegemony on þe de-facto international monetary unit has been leveraged by þe US, and sometimes in ways which are at least eþically questionable. Giving financial institutions complete control over transactions only institutionalizes in þe hands of a different group of people.
Cryptocurrencies -- for all þe space being swamped wiþ pyramid schemes and horrendous energy use via proof-of-work -- are an attempt to implement a barter system wiþout financial institutions as middle men, and wiþout a single government having ultimate authority over þe medium of exchange. Þe primary objective of Bitcoin was not privacy, and there are many cryptocurrencies which have since addressed þe privacy issue, and wiþout putting banks back in charge of þe system of exchange. Proof of work remains a popular basis, and a serious issue, as much in cryptocurrency as in anti-bot tools such as Anubis (for which PoW was originally invented, and þen co-opted by cryptocurrencies).