Tor Project’s Bitcoin Crowdfunding Campaign
BitcoinForTor is a Tor project launched in 2019 as a crowdfunding program. Within 25 hours, the campaign had raised $10,000 — which was its soft cap. BitcoinForTor collaborates with the BTCPay server, an open-source payment processor. Despite this record-breaking feat, more people continue to donate to the project.
This article discusses what this BTC Tor project is all about, whether to donate to it, and if a Ripple to Bitcoin conversion is allowed through it.
Was BitcoinForTor’s Success Truly a Triumph of Freedom and Human Rights?
The Negative Sides of BitcoinForTor
Finding Anonymity in the Absence of Tor
Conclusion
What Is BitcoinForTor?
BitcoinForTor is a crowdfunding campaign targeted at supporting global organizations that seek human rights, particularly online freedom and privacy. Thanks to the fact that these are areas a lot of people are concerned about, this exercise fulfilled its basic cap in 25 hours and even continued to run for two weeks more, gathering over 300 contributors in the process.
BitcoinForTor was processed using the Ledger Nano S Wallet.
Was BitcoinForTor’s Success Truly a Triumph of Freedom and Human Rights?
The developers of BitcoinForTor can lay claims that the campaign achieved its purposes. The Tor software is open-source and costs nothing to use, as the funding realized is used to keep the developers going. To bypass restrictions on fiat currencies, cryptocurrency payment was introduced to the platform.
The use of this system has, however, been prohibited in countries that limit internet use, some of which are China, Russia, and Venezuela. This is not a major limitation, though, as people are escaping these restrictions and more information is coming out of these places.
Apparently, BitcoinForTor is championing the freedom of the commoner. However…
The Negative Sides of BitcoinForTor
The availability of a platform that allows untraceable internet use was always going to have its negative effects.
Here are the downsides of BitcoinForTor:
- The anonymity of Bitcoin made it a widely accepted means of payment on the darknet, and the integration of Tor has made it even harder to trace these potentially criminal transactions.
- Tor integration also makes BTC operations slightly vulnerable.
- BTC nodes enabled with Tor suffered a crash and have only just recovered — leading to suggestions that the system is unstable.
- It is hard to deny the usefulness of Tor-Bitcoin integration in securing human rights. However, despite its uses, this platform offers a way to conduct illegal transactions, threatens BTC’s security, and is not very good for mining Bitcoin.
Finding Anonymity in the Absence of Tor
The Tor network has no special benefits to a regular crypto owner or trader. You can conduct 100% anonymous Ripple to Bitcoin conversion on trusted decentralized exchanges — for example, Godex.io.
- Select the currencies
- Enter your wallet address.
- Deposit your coin and wait for confirmation.
- Complete the exchange.
Conclusion
The Tor platform is a great anonymity tool. With its introduction, internet restrictions in some countries are circumvented and more freedom is ensured. However, this system has become a means of perpetrating crimes by criminals. It is also centralized, so it may compromise your security. Lastly, users can’t mine with it.
Godex.io is a trusted site where you can complete Ripple to Bitcoin conversion without any drawbacks.
