Brian Armstrong, CEO of Coinbase, took to Twitter to inform his ideas in regards to the statements that Jackson Palmer, co-founder of Dogecoin, expressed final week. Whereas Palmer now has a damaging imaginative and prescient of the cryptocurrency trade, Armstrong is within the reverse area. To Armstrong, the cryptocurrency trade has its issues, nevertheless it nonetheless offers an alternate for individuals who need extra financial freedom.
Coinbase CEO Faces Dogecoin Founder for His Views on Cryptocurrency
Capitalistic, right-wing, centralized… these had been a number of the traits that the Dogecoin co-founder Jackson Palmer attributed to the cryptocurrency market as a complete earlier this week. Palmer’s ideas in regards to the present state of the cryptocurrency trade brought about harsh reactions throughout social media. However one of many few that articulated a structured reply to Palmer’s tweetstorm was none apart from Brian Armstrong, CEO of Coinbase.
Armstrong acknowledged that whereas the cryptocurrency system as conceived now has its issues, it’s a vastly higher provide than what the normal system provides. Armstrong stated:
For those who consider authorities options are sometimes inefficient, overpromise/underdeliver, and include unintended penalties, and that non-public accountability combined with free markets will create higher outcomes for everybody, then crypto is a a lot wanted breath of contemporary air.
To Armstrong, Palmer is improper a few basic topic: crypto just isn’t designed to resolve revenue inequality. It’s extra about private selection and alternatives. Relating to this, Armstrong declared:
Crypto just isn’t going to resolve wealth inequality – it’s not making an attempt to create the identical consequence for everybody. Nevertheless it does create wealth mobility and extra equality of alternative for everybody. It ranges the taking part in area, at the least to some extent.
To conclude, the CEO of Coinbase acknowledged that cryptocurrency is simply one other selection within the monetary world, however one that gives freedom to its customers. Armstrong stressed:
Crypto is just offering an alternate for individuals who need extra freedom. Everybody could make their very own selection, and that’s in all probability a very good factor.
Brian Armstrong Has At all times Strived to Promote Financial Freedom
Armstrong’s views on the cryptocurrency market aren’t new or shocking. He was one of many first people that noticed a future within the now booming cryptocurrency market again in 2012 when he based Coinbase. Armstrong has since advocated for financial freedom and has (unsurprisingly) touted Coinbase as a trusted firm to realize that.
In a public letter filed when Coinbase went public final April, Armstrong acknowledged the present system was “rife with excessive charges, delays, unequal entry, and boundaries to innovation,” and that “everybody deserves entry to monetary companies that may assist empower them to create a greater life for themselves.”
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