Brian Armstrong, business executive of Coinbase, took to Twitter to inform his views regarding the statements that Jackson Palmer, co-founder of Dogecoin, expressed last week. whereas Palmer currently encompasses a negative vision of the cryptocurrency trade, Armstrong is within the opposite field. To Armstrong, the cryptocurrency trade has its issues, however it still provides an alternative for those who need a lot of economic freedom.
Coinbase CEO Faces Dogecoin Founder for His Views on Cryptocurrency
Capitalistic, right-wing, centralized… These were a number of the traits that the Dogecoin co-founder Jackson Palmer attributed to the cryptocurrency market as a whole earlier this week. Palmer’s views regarding the present state of the cryptocurrency trade caused harsh reactions across social media. However, one among the few that articulated a structured answer to Palmer’s tweetstorm was none apart from Brian Armstrong, business executive of Coinbase.
Armstrong said that whereas the cryptocurrency system as planned currently has its issues, it’s an immensely higher provider than what the standard system offers. Armstrong stated:
“If you think government solutions are often inefficient, overpromise/underdeliver, and are available with unintentional consequences, which personal responsibility mixed with free markets will create better outcomes for everybody, then crypto is a much required breath of fresh air.”
To Armstrong, Palmer is wrong on a few basic subjects: crypto isn’t designed to unravel financial gain difference. It’s a lot about personal alternatives and opportunities. relating to this, Armstrong declared:
“Crypto isn’t planning to solve wealth inequality – it’s not trying to create the same outcome for everybody. But it doesl create wealth mobility and a lot of equality of chance for everybody. It levels the taking part in the field, at least to some degree. ”
To conclude, the business executive of Coinbase explicitly states that cryptocurrency is simply another alternative within the financial world, however one that has freedom to its users. Armstrong stressed:
“Crypto is solely providing an alternative for those who need a lot of freedom. Everybody can make their own choice, which is probably a good thing.”
Brian Armstrong Has Always Strived to push Economic Freedom
Armstrong’s opinions on the cryptocurrency market aren’t new or shocking. He was one among the primary people that saw a future within the currently booming cryptocurrency market back in 2012 once he founded Coinbase. Armstrong has since advocated for economic freedom and has (unsurprisingly) touted Coinbase as a trustworthy company to reach that.
In a public letter filed once Coinbase went public last April, Armstrong stated the present system was “rife with high fees, delays, unequal access, and barriers to innovation,” which “everyone deserves access to financial services which will facilitate and empower them to make a more robust life for themselves.”