Whistle-blower Edward Snowden has hinted he might place his wealth in Bitcoin (BTC) to avoid the United States government confiscating the funds.
The Former U.S. National Security Agency (NSA) subcontractor Edward Snowden is being sued by the Department of Justice (DoJ) for his latest memoir. The agency won’t stop Metropolitan Books from publishing Snowden’s new book but the government will take the revenue he earns from the memoir instead. Following the book publishing fiasco, Snowden said that the outcome was “good for bitcoin.”
Snowden: Lawsuit is “good for Bitcoin”
In a tweet on Sep. 17, Snowden, who lives in asylum in Russia, continued his response to news Washington is suing him over the content of his new book titled “Permanent Record.”
After the news broke, cryptocurrency supporters asked Snowden on social media to accept bitcoin for book payments. Shortly after the DoJ announced the lawsuit, Snowden’s book quickly jumped to the top bestseller list on Amazon. The book describes the build up to when Snowden decided to leak the NSA’s files and metadata and give them to journalists.
“In conclusion this is good for Bitcoin,” he wrote in his tweet A few hours after the DoJ lawsuit went viral on the web.
The First ‘Free’ Money
Bitcoin transactions are impartial — They can’t really be stopped or reversed, without the explicit, voluntary participation by the people involved.
If a bank doesn’t want to process a payment for an individual in the old financial system, that individual can face so much obstacles in getting his rightful payment, money that belongs to him. If John Doe in Russia wants to get paid in a hard currency for a web development gig for a client in U.S., cryptocurrencies can make everything possible.
Cryptocurrencies have made it possible for people to transact freely in a permissionless manner without the need for depending on a third party like the government, corporation, or any individual.
Bitcoin has featured in moves by Snowden at the U.S. government’s expense before. In previous comments, Snowden revealed doubts about Bitcoin’s suitability as a financial means of avoiding government coercion.
“The much larger structural flaw, the long-lasting flaw, is its
public ledger,” he said in an interview in March 2018.
Snowden once said that “new technologies raise the possibility of unstoppable tax protests.” The DoJ’s move has stirred the hornet’s nest, propelling Snowden’s biography to the top of the bestseller list.