Brian Armstrong, CEO of Coinbase, took to Twitter to share his thoughts on the statements Jackson Palmer, co-founder of Dogecoin, made last week. While Palmer now has a negative view of the cryptocurrency industry, Armstrong is in the opposite direction. For Armstrong, the cryptocurrency industry has its problems, but it still offers an alternative for people who want more economic freedom.
Coinbase CEO takes on Dogecoin founder for his views on cryptocurrency
Capitalist, right-wing, centralized … these were some of the traits Dogecoin co-founder Jackson Palmer attributed to the cryptocurrency market as a whole earlier this week. Palmer’s thoughts on the current state of the cryptocurrency industry have sparked heated reactions on social media. But one of the few who provided a structured response to Palmer’s tweetstorm was none other than Brian Armstrong, CEO of Coinbase.
Armstrong said that while the cryptocurrency system as designed now has its problems, it is a much better deal than the traditional system offered. Armstrong declared:
If you think government solutions are often ineffective, overly promising / under-delivered, and have unintended consequences, and that the personal accountability associated with free markets will create better results for everyone, then crypto is a whiff of the game. much needed fresh air.
For Armstrong, Palmer is wrong on a fundamental point: crypto is not designed to solve income inequality. It’s more about personal choices and opportunities. On this subject, Armstrong declared:
Crypto won’t solve wealth inequality – it doesn’t try to create the same outcome for everyone. But this creates mobility of wealth and more equal opportunities for all. It level the playing field, at least to some extent.
To conclude, the CEO of Coinbase said that cryptocurrency is just another choice in the financial world, but one that offers freedom to its users. Armstrong stress:
Crypto simply offers an alternative for people who want more freedom. Everyone can take their pick, and that’s probably a good thing.
Brian Armstrong has always strived to promote economic freedom
Armstrong’s views on the cryptocurrency market are neither new nor surprising. He was one of the first people to see a future in the now booming cryptocurrency market in 2012 when he founded Coinbase. Armstrong has since advocated for economic freedom and (unsurprisingly) touted Coinbase as a company you can trust to achieve it.
In one public letter filed when Coinbase went public last April, Armstrong said the current system was “plagued by high fees, delays, uneven access and barriers to innovation” and that “everyone deserves access to financial services that can help them create a better life for themselves. “
What do you think of Brian Armstrong’s take on Jackson Palmer’s tweetstorm? Tell us in the comments section below.
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