Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Will the US Government Destroy Bitcoin? Former Coinbase CTO Analyzes Remaining Threats to BTC

by Daily Hodl Staff
November 6, 2020
in Bitcoin
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

Angel-investor and former Coinbase chief technical officer (CTO) Balaji Srinivasan is examining the likelihood that the US government will issue a regulatory assault on Bitcoin (BTC).

In a new interview with Real Vision Finance senior editor, Ash Bennington, Srinivasan addresses the notion that the Fed might become increasingly wary of Bitcoin if it manages to swallow up a significant portion of US dollar supplies.

ADVERTISEMENT

Srinivasan tackles the issue in three parts, first pointing out that US government officials have a much better understanding of Bitcoin and its use-cases than they did just over five years ago.

“I actually think the US government has now a bunch of folks in it who understand cryptocurrencies and have been fairly friendly to it, which is not something you would have thought in 2013, but it’s certainly something today. For example there is a congressional Bitcoin caucus.There are folks like Hester (securities exchange commissioner Hester Peirce) at the SEC who’s published good stuff. There are folks who understand it’s a technological innovation. [There are] congressmen who understand that it can’t be banned.”

In the second portion of his response, Srinivasan goes on to cite governmental incompetence and Bitcoin’s decentralized nature as factors that will safeguard the cryptocurrency.

“Frankly the federal government isn’t that competent if you look at its Corona response. It hasn’t been able to ban the virus. And Bitocin is also a decentralized actor where there’s no one person you can go after to shut it down. It’s an international computer network.”

ADVERTISEMENT

In his final analyses, Srinivasan acknowledges that if Bitcoin reaches the $100,000 or $1,000,000 mark, it may face some government backlash, but that mass adoption will likely guarantee its survival.

“I do think that it’s possible that if Bitcoin goes to $100,000 or $1,000,000 – once it actually starts constraining governmental monetary policy and fiscal policy – yes you will get a different level of reaction. However, I think a fair number of governments will embrace it and buy BTC for their own reserves just like they hold gold and so long as enough governments do that Bitcoin survives.”

Currently BTC is trading at $14,187.74, according to CoinMarketCap.

l



Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
  • Student Coin Found New Ways to Use Crypto
    February 24, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$49,807.00
$49,807.00
0.88%
Ethereum
$1,566.03
$1,566.03
0.47%
Binance Coin
$243.24
$243.24
0.85%
Polkadot
$37.12
$37.12
0.94%
Cardano
$1.21
$1.21
2.35%
XRP
$0.446157
$0.446157
0.53%
ADVERTISEMENT

Spotlight

  • Coinbase Reveals It Has Executed $1,000,000,000 Crypto Buys for Some of the Largest Institutions in the World
    February 26, 2021
  • Top Analyst Predicts Bitcoin Will Hit $100,000 Sooner Than Most Traders Think, Says Two Altcoins Ready to Rally
    March 2, 2021
  • Top Crypto Analyst Says One Altcoin Will Recover Stronger and Faster Than the Rest
    February 24, 2021
  • Crypto Trader Lark Davis Lists Top Six Altcoins To Buy in March
    February 28, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.