Brian Armstrong, Coinbase CEO, responds to the criticisms of the dogecoin creator

Brian Armstrong, Coinbase CEO, has responded to a viral Tweetstorm from Jackson Palmer, the Dogecoin co-founder. Jackson Palmer had recently  offered a grim outlook for Bitcoin and the whole crypto space.

Cryptocurrencies are a “much-needed breath of fresh air” for those who believe that state solutions are often “inefficient or ineffective,” said Brian Armstrong, head of Coinbase. This is his response to recent tweets by dogecoin (DOGE) co-creator Jackson Palmer.

Brian Armstrong highlights the many benefits of BTC

Armstrong highlighted the many benefits of cryptocurrency, including bitcoin (BTC), through Twitter. He said that they “merely offer an alternative for people who seek more freedom.”

Coinbase’s CEO said that the status of cryptocurrency is dependent on perspective. He stated that those who want to have more control over the financial system could use traditional fiat. To those who believe that government solutions often are “inefficient” or ineffective, cryptocurrencies are a “much-appreciated breath of fresh oxygen.”

A good example is the rules on accredited investors. They were created with the best of intentions to protect ordinary people from fraud — a noble idea. But what was the real effect? Often making it illegal to enrich yourself through investment unless you’re already rich.

he wrote.

Like traditional investment instruments such as stocks and bonds, cryptocurrencies such bitcoin do not require investor approval from any financial body.

This is one of the reasons why bitcoin has made so many people rich

he added.

Armstrong explained that cryptocurrencies allow for greater wealth mobility and equality of opportunity for everyone. He also stressed that anyone could choose what system works best for them. He said that cryptocurrencies such as bitcoin were not an answer to all the modern world’s problems.

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