Bitcoin: Architectural Problems and Limitations

Bitcoin is unquestionably the most ballyhooed digital currency around today, touted as the world's populist savior from the tyranny of central banks. But is it really? While it's true that Bitcoin wallet hashes are anonymous (meaning they're just a string of numbers with no real world identity attached to them), there are a number of serious issues with Bitcoin, especially from a privacy perspective. For example, did you know that:


If you think these issues might make it hard for Bitcoin, and other cryptocurrency blockchain technologies, to serve as reliable private money, you're certainly not alone. It's pretty obvious that widespread adoption of Bitcoin will lead inevitably to the centralized clearing and control of Bitcoin. Which probably explains why Wall Street and financial regulator types are not only investing in Bitcoin businesses big time (to the tune of $315 million in 2014 alone), but are even starting their own ventures.

But, not to worry: if you use Silent Bitcoin (SBC), the voucher asset type backed by stored bitcoins, you can spend them just as safely and anonymously as you can any other voucher type. Note that SBC already exists and is fully usable today! You can even spend SBC directly to any Bitcoin address, in addition to other wallets within our network. Certainly it's not up to us to decide what people should use as money. However our digital cash technology can make even Bitcoin perfectly safe and anonymous to use!

As Gandalf urged, "Keep it secret, keep it safe." Transform Bitcoin into digital cash!