Anonymous transactions – the essence of privacy
Cash is anonymous, but bank transactions are not. Your bank knows who you send money, and so do the intelligence agencies of the world. Digital money means, in contrast to cash, that payments are monitored and, if necessary, stopped. In 1992 in the Cypherpunk Manifesto Eric Hughes called for ‘anonymous transaction systems’. This idea ‘empowers individuals to reveal their identity when desired and only when desired; this is the essence of privacy.’ Bitcoin has made this vision come true. The user has the choice as to whether their identity is revealed.