Brian Armstrong Opposes Conventional Financial Systems On Twitter
The co-creator of Dogecoin made a major comeback into the Crypto Twitter space on Wednesday with an intense remark about cryptocurrencies in general and his view was not taken in with open arms by major league players in the crypto community. He took a break from the crypto ecosystem after co-creating Dogecoin as a parody in 2013.
He tweeted “I am often asked if I will return cryptocurrency or begin readily sharing my thoughts on the topic again. My answer is a wholehearted No”. He said, stating that cryptocurrency is an inherent right-wing, hyper-capitalistic technology, which was created to aid tax avoidance, diminished regulatory oversight, and artificially enforced scarcity.
Brian Armstrong, moved to Twitter to counter Jackson Palmer, the Co-founder of Dogecoin after he left a bitter remark about cryptocurrencies. In a Twitter thread, Brain cited the crucial advantages of cryptocurrencies using bitcoin (BTC) as an example. He believed that crypto is simply providing an alternative for people who want more financial freedom.
CEO of Coinbase accentuated that individual’s perspective about the crypto domain is purely personal, In his view, a cryptocurrency is a necessary form of fresh air for those individuals that are fed up with the authority’s suffocating remedies that barely yield results, displaying the government’s inadequacy, unfulfilled promises, and never forthcoming results.
Cryptocurrencies as Valuable investment option
Armstrong strongly asserted in his tweet that cryptocurrency establishes certain wealth mobility and more comparable opportunity for everyone, emphasizing that the choice was left for every individual to decide their part. He added that cryptocurrency will not solve wealth inequality, as it is not meant to create the same outcome for everyone, as the blockchain is not a must for everyone to embrace.
Armstrong is of strong opposition to regular investment strategies, he explained to the Doge creator that conventional investment strategies do not have an avenue for lesser investors while referring to regulations and constraints such as accredited investor constitutions.
“Accredited investor laws are a good example. They were created with the best of intentions, to protect regular people from scams which is a noble idea. But what has been the actual result? They’ve often made it illegal to get rich via investment unless you’re already rich”. He said
Bitcoin As Security Council
Unlike some conventional investment strategies, cryptocurrencies like Bitcoin do not require their investors to be confirmed and found worthy by any financial authority in their early inception, hence, Bitcoin is an attractive alternative and a good investment option for both the middle class and whales alike.
Bitcoin has created a wealth status for different people, as it has no major security, so regular people can invest without waiting for permission from any financial institution. He urged folks who desire supervision and control of financial regulations to proceed and enjoy the traditional fiat system.
Coinbase has had a recognized Non-political stance since 2020 when it was officially announced. The mission of Coinbase is to create a system that is an Open financial network for the world.
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