In a thought-provoking thread on X, hitesh.eth (@hmalviya9) urges the crypto community to revisit the origins of the industry. Posted on November 16, 2025, the thread titled "A Wake Up Call to Save Crypto" highlights the Cypherpunks movement, the crypto wars, and the urgent need to reclaim privacy as the soul of cryptocurrency. For those in the meme token space, this is a reminder that while fun and viral marketing drive many projects, the foundational principles of crypto could elevate them to something more impactful.

Let's break it down step by step, starting with the basics for anyone new to these concepts.

The Cypherpunks Movement: Privacy Pioneers

The Cypherpunks were a group of activists, programmers, and thinkers who, in the early 1990s, championed the use of cryptography to protect personal privacy in the digital age. Coined from "cyberpunk" and "cipher," the term was popularized by a mailing list where figures like Eric Hughes, Tim May, and Julian Assange discussed ideas that would later inspire Bitcoin and blockchain technology. Their manifesto, written by Hughes in 1993, stated that "privacy is necessary for an open society in the electronic age." They believed that strong encryption should be available to everyone, not just governments or corporations.

In the context of meme tokens, think about how Cypherpunks' ideals could apply. Many meme coins today, like Dogecoin or newer viral tokens, focus on community and hype. But incorporating privacy features—such as anonymous transactions—could make them more resilient against surveillance, appealing to users who value decentralization beyond just memes.

The Crypto Wars: Government vs. Privacy

Hitesh.eth's thread references the 1990s when the US government essentially told citizens, "We can hear your private conversations, and you can't do anything about it." This era, known as the Crypto Wars, involved battles over encryption export controls and backdoors in communication tech. The government proposed the Clipper Chip, a device that would allow law enforcement to decrypt communications under the guise of national security. Cypherpunks fought back by developing and distributing tools like PGP (Pretty Good Privacy) encryption, which anyone could use to secure emails.

The wars highlighted a core tension: privacy as a human right versus state control. Fast forward to today, and similar debates rage over regulations like KYC (Know Your Customer) requirements on exchanges. For meme token creators, this history is a cautionary tale—projects that ignore privacy might comply with regs but lose the rebellious spirit that makes crypto exciting.

What Went Wrong in Today's Crypto Space?

According to the thread, modern crypto has strayed from its roots. Instead of empowering individuals with private, peer-to-peer transactions—as envisioned in Satoshi Nakamoto's Bitcoin whitepaper—the industry is dominated by speculation, centralized exchanges, and rug pulls. Meme tokens exemplify this shift: while they democratize fundraising through viral marketing and community airdrops, many prioritize pumps over utility. Privacy has become a "narrative" pushed by a few coins like Monero or Zcash, rather than the default.

Hitesh.eth argues this deviation happened because we forgot the "why" behind crypto. Governments and big tech co-opted the space, turning it into a surveillance-friendly financial system. In the meme world, this means tokens often track every transaction on public blockchains, exposing users to risks like doxxing or targeted scams.

How to Save the Soul of Crypto

The thread calls for a revival: make privacy the priority again. This could involve adopting technologies like zero-knowledge proofs (ZKPs), which allow verification without revealing details—think proving you're over 18 without showing your ID. For meme tokens, integrating ZKPs could enable private voting in DAOs or anonymous meme contests, adding real value.

Projects like Tornado Cash (before its sanctions) showed the power of privacy mixers, and newer ones on chains like Solana are experimenting with shielded transactions. As blockchain practitioners, we can educate ourselves through resources like the Cypherpunk Manifesto (read it here) or books such as "Crypto Anarchy" by Tim May.

Hitesh.eth's message is clear: privacy isn't optional; it's what crypto was meant for. In the meme token ecosystem, embracing this could turn fleeting trends into lasting innovations. If you're building or investing in memes, consider how privacy features might set your project apart in a crowded market.

For more insights on meme tokens and blockchain tech, check out our knowledge base at Meme Insider. What are your thoughts on privacy in crypto—game-changer or overrated? Share in the comments below.