menuIcon
$ 107,914.7
BTC
$ 107,914.7
-0.73 %
$ 2,537.62
ETH
$ 2,537.62
-0.34 %
$ 0.5780
ADA
$ 0.5780
-1.01 %
$ 659.91
BNB
$ 659.91
-0.18 %
$ 148.34
SOL
$ 148.34
-2.10 %
Sonakshi Saxena
Dec 2, 2023
by Sonakshi Saxena

Cardano Founder Reveals: 'Bitcoin's Initial Centralization

Cardano Founder

Table of contents

  1. Hoskinson Challenges Bitcoin Maximalism and U.S. Regulatory Impact
  2. Hoskinson Warns: Regulatory Push Threatens Crypto's Decentralized Potential
Cardano's founder and CEO, Charles Hoskinson, recently addressed the crypto community in a live video titled 'On Bitcoin, Ethereum, and Cardano.' Hoskinson shed light on Bitcoin's early centralized origins, stating that Satoshi Nakamoto remained pseudonymous due to the unclear regulatory landscape for cryptocurrencies in the United States. He disclosed that initially, Bitcoin was centralized, with Satoshi holding complete control and 100% hash power. The anonymity served to navigate legal ambiguities surrounding currency issuance.

Hoskinson Challenges Bitcoin Maximalism and U.S. Regulatory Impact

Hoskinson criticized Bitcoin maximalists for praising BTC while condemning other cryptocurrencies like Cardano. He argued that the U.S. regulatory system was hindering blockchain and crypto advancements, potentially limiting the nation's economic superiority in the global market. While the SEC doesn't classify Bitcoin as a security due to its decentralization, Hoskinson claimed that other similarly structured altcoins face security labels.

Hoskinson Warns: Regulatory Push Threatens Crypto's Decentralized Potential

Expressing concern, Hoskinson suggested that the regulatory crackdown aimed to diminish people's power, promoting dependency on easily controllable cryptocurrencies like Bitcoin. He asserted that embracing the full potential of cryptocurrencies in the U.S. could revolutionize sectors such as politics, medicine, finance, and security. According to him, allowing people control over their money, voting, identity, and data would challenge the establishment's global dominance agenda. Hoskinson concluded that regulatory efforts aim to thwart projects returning power to the people, favoring centralized control over decentralized alternatives like Bitcoin.

Follow us on: News
cardano founder charles hokinson
Cardano Founder Reveals: 'Bitcoin's Initial Centralization
Sonakshi Saxena
Sonakshi is into the crypto world ever since she heard about it and is pursuing her interest through Cryptoknowmics. She is a sensational poet, technical writer and content strategist.

Top Picks