Three men walk into a bar
Three men walk into a bar. A priest, a rabbi, and Bitcoin Bob.
Bitcoin Bob says, “This bar accepts Bitcoin! Drinks are on me!”
What Bitcoin Bob doesn’t know is the bar’s owner, Slimy Sam, has a side business of selling illegal drugs. Slimy Sam uses the same wallet for both businesses.
Bitcoin Bob has a pleasant evening with friends. He tells them all about the crypto revolution and shows them how it works by paying the tab with BTC.
A few weeks pass by, and Bitcoin Bob is sitting comfortably at home, when all of the sudden his door is kicked in by the police, who have a warrant to turn his house upside down and take him in for questioning.
Bitcoin Bob says “what’s the problem?” The police – “we’re looking at your connection to Slimy Sam.”
Bitcoin Bob didn’t do anything wrong. He just had drinks with friends. But he did have a financial transaction with Slimy Sam. That transaction was, is, and will be, visible to the whole world, til the end of time, on the Bitcoin blockchain.
Bitcoin starts as just innocent numbered accounts. However, over time, as data is discovered, information is added by chain-analysis companies. Identities are discovered, links are made, paradise is lost.
Next time, Bitcoin Bob takes his friends to Zilly’s Z-bar, which accepts Zcash. Now that Bob knows better, he pays for drinks from a z-address. It doesn’t matter that the bar only has a Zcash t-address. Bob, sending from a z-address, keeps his data shielded and off the public blockchain. He enjoys all the benefits of the crypto revolution, yet his financial details are safely encrypted.
When Bob goes home he can live his life. His door isn’t kicked in. He’s not questioned in a poorly lit concrete room. His family doesn’t worry about him. He can sleep in peace at night.
Be like Bitcoin Bob. Pay with Zcash.