When cryptocurrency as first announced, it was backed by claims of privacy and anonymity. Many felt they found a new way to buy and sell privately and no financial institutions would have any knowledge of it. Many believed this was the future, of transactions that are private, not tracible and have no banks involved.
But even in the beginning of the age of digital currency I was always worried how private transactions really were. I always felt that transactions were never really private, especially when the blockchain records every single cryptocurrency transaction ever made. Many felt they would never have to worry that would change into something much more terrifying. It was considered at the time that on one would be able to trace transactions accurately and precisely.
But once Cryptocurrency became more established, used more and considered as a real currency the blockchain technology that we once believed to keep our transactions private that same technology will only be used against us to track us in many ways. One reason I believe Banks, Financial institutions, and governments around the world wanted to adopt cryptocurrency as our main currency in the future is because of how easily EVERY transaction can really be traced. They will turn around the technology we thought kept us private would track us even more, much more then any way they have traced transactions before would know where every single cent of your money goes. It's not the same when it comes to paper money, or metal coins.
Every single move you make with crypto will be anything but private. The individuals in power and in control of banks and money want to make sure we can't have any financial transactions they don't know about because they want to make sure they tax or make sure they are involved substantially of our finances more then EVER before.
It's not something I agree with. It's not something people should have to deal with. But unfortunately it's the future of currency and if we don't go by financial institution's Digital currency regulations then we will not be allowed to buy or sell. Sure it will stop things like the street sale of illegal things such as drugs or other illegal transactions a near impossibly thing through the blockchain But at the cost of privacy.
The truth is privacy, rights, freedom are starting to become a thing of the past as the ones in power demand more and more control as we give up our "freedoms" unknowingly little by little, step by step not paying attention to the little details of our rights getting stripped away until it's far to late.
But, we have to just move forward no matter how grim the future may be. Feel free enter comments below, Positive or negative. Any feedback is greatly appriciated.