Brian Armstrong, Co-founder and CEO Coinbase, a cryptocurrency exchange listed on NASDAQ, Responded to Dogecoin’s recent attack on cryptocurrency on Twitter (dog) Co-creator Jackson Palmer.
In a Twitter post on Thursday, Armstrong Point out Some of the biggest benefits of cryptocurrencies such as Bitcoin (Bitcoin), emphasizing that cryptocurrency “just provides another option for people who want more freedom.”
The CEO emphasized that one’s position on the crypto industry depends on one point of view, and stated that those who wish to gain more control from financial regulators can freely enjoy the traditional legal system. But for those who believe that government solutions are often “inefficient, over-promising, or under-delivered,” cryptocurrencies are “urgently needed fresh air,” Armstrong pointed out.
Armstrong went on to say that traditional investment tools are usually related to the lack of opportunities for small investors, referring to restrictions such as the qualified investor law:
“Accredited investor laws are a good example. They were created with the best intentions to protect ordinary people from scams-a noble idea. But what is the actual result? They will often get rich by investing Make it illegal, unless you are already rich.”
Armstrong said that compared with some traditional investment tools, cryptocurrencies such as Bitcoin do not require investors to obtain the approval of any financial institution in the early stage, so it is an attractive opportunity for retail investors:
“This is part of the reason why Bitcoin has made so many people rich. This is not a security, so ordinary people can invest as early as possible.”
Therefore, Armstrong concluded that cryptocurrency creates “wealth liquidity and more equal opportunities” for everyone, and emphasized that everyone can choose the system that suits them best. “Encryption will not solve wealth inequality-it will not try to create the same results for everyone,” he added. Coinbase’s mission is to “create an open financial system for the world” and is known for its “apolitical” standpoint. take At the end of 2020.
Palmer, who Created Dogecoin as a joke as early as 2013, Earlier this week attacked the entire crypto industry on Twitter, believing that encryption is an “essentially right-wing, hyper-capitalist technology” that aims to combine “tax avoidance, reduced regulation, and artificially implemented scarcity”. In 2018, Palmer Forecast The industry is “rapidly accelerating the over-saturation of cryptocurrencies” to the point that their value and utility are “conversely close to zero.”
As previously reported, Dogecoin has become one of the most popular cryptocurrencies this year, becoming Digital assets with the highest returns in the second quarter of 2021 A surge of 392%.