Hey ninjas, how’s the trading going? The cryptocurrency market is trading sideways on the day, BTC is currently reporting 1% gains on the day and is trading at $9,232. The largest altcoin Ethereum is reporting 0.15% losses on the day and trading at $182. XRP is also reporting losses on the day and is trading at $0.29.
Samson Mow, Chief Strategy Officer at Blockstream warns Bitcoin regulators that the hostility towards it could cause harm to the authorities if they fall out of power. He shared his thoughts on the matter at a Liquid meetup at the Litecoin summit on the 29th of October.
The event was hosted by Blockstream and BTSE, the panel featured Charlie Lee the founder of Litecoin and Twitter personality WhalePanda. Samson Mow shared his views on the discussion pointing out that Bitcoin solves a number of existing financial issues such as inflation and predicted that Bitcoin would eventually be adopted because of its benefits.
He noted that hostility towards the technology could affect the regulators in the near future, he gave an example explaining that if a person in power bans Bitcoin then falls out of power they are “screwed”. He went further to explain that Bitcoin's deflationary and decentralized nature is one of the main benefits of global adoption.