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The most important feature of any Cryptocurrency is his censorship resistance. Pseudonymity or anonymity are corner-stores of any crypto.
Already Egyptians knew that names have powerful strength. If somebody know your name he can spell a curse on you, or on the other hand he can announce great things about you. Names bound us to other people and things. Names carve our actions in history. Anybody who know your name have a power over you. Remember that! So one of the best strategies of all is: know as many people as you can and hide your name as hidden as possible.
Why censorship resistance matters?
When you stopped by the police to get speed ticket, until your identity is revealed by the policeman, they effectively can't give you a ticket. Anyway they technically only can prove that you drove to fast. A ticket is always assigned on your name. So your name is the key for a police to enforce the law on you.
Actually in all situations when law enforcement or censorship is applied on a subject or a person, the one must be identified first. From this fact come the power of names.
Anonymity of a transaction is also a key to censorship resistance when you transact in Bitcoin or any other open blockchain Cryptocurrency. As long as nobody can reveal your identity, nobody can impose any censorship or other type of enforcement on you. Anonymous or even only pseudonymous transaction written on the open blockchain guaranties your sovereignty over your wealth and prevents any govts, banksters or tax man to mess around with you.
Other properties: borderless transacting, decentralization, neutrality of participants and openness and accessibility of all information about Cryptocurrency you use, only amplifies the effect of censorship resistance.
No border can stop your transaction. It is global and everywhere. Your Cryptocurrency is also globally dispersed and decentralized and is nowhere and everywhere at the same time. There is no firm, institution or corporation behind open Cryptocurrency and it have no single point of failure to be attacked. Look at Ripple where main point to be attack exists. US SEC immediately attack this weak point whit law enforcement.
Anyone can use open Cryptocurrency. There is no restrictions on race or origin of participants. Even machines, robots and software can participate in transacting on open blockchain of your Cryptocurrency and this is why open censorship resistance Cryptocurrencies with mentioned properties matter the most.
I invite you kindly to read all blogs in this series. They talk about the fundamental properties of Cryptocurrencies and especially Bitcoin as the most famous of them.
(2) Decentralization is Name of the Game
(3) Why open Blockchains matter
(4) Importance of Global Reach of Crypto
(5) Absolute neutrality of Bitcoin
Your comments and discussions is also highly appreciated.
