While cryptocurrencies are unregulated in most countries, in others they are subject to very strict restrictions. This is the case in the United States, for example. Should cryptocurrency regulations be toughened or not? Are countries right to want to get more involved in this sector? Opinions are very divided on the subject. Fool Jason Hall and Rachel Warren discussed it and aired their views in an interview.
Jason Hall speaks out on the future of bitcoin (BTC)
For Jason Hall, the intervention of the authorities in the cryptocurrency sector is in no way an obstacle to their development. He thinks that “The more this sector is made public, the more it is highlighted and this is what makes it possible to give a legal character to cryptocurrency”.
However, he regrets that people’s knowledge is very limited in the field. Many people only know Bitcoin (BTC) and Dogecoin (DOGE). Therefore, according to him, the authorities’ efforts are important and worthy of praise, as they help to get people interested in digital financial assets.
Jason Hall also made predictions about the future of BTC. According to him, chances are that this digital asset will not only remain the best known, but also the most valuable. “I don’t see why it couldn’t continue to be the first digital financial asset that replaces gold. I really think it’s going to be because you know what you can do if you need the money? Using bitcoin as currency,” did he declare.
For Mr. Hall, the advantage with BTC is that it is not no more waiting to convert cryptocurrency into dollars or euros before using it. “It is ready for immediate use”, he said.
Learn to use bitcoin (BTC)
For Rachel Warren, the main difficulty that authorities and players in the cryptocurrency industry should face is to teach people how to use BTC. To this end, during the interview, he mentioned the example of a person who lost a lot of money simply because he forgot his digital wallet password.
“He had hundreds of millions of dollars in bitcoins (BTC) in his wallet. I don’t know if you remember that story and he didn’t get access because he couldn’t remember the password”.
Once everyone knows how to use bitcoin (BTC), this cryptocurrency can revolutionize the world and allow people to escape certain rules, explained Mr. Warren.
According to Jason Hall and Rachel Warren, the authorities are right to continue their efforts to regulate the cryptocurrency sector. Indeed, by doing so, they will not only be able to reduce the risk of scams and hacks, but in addition, they will be able to help people who want to use bitcoin (BTC) and other digital financial assets to do so in good conditions.
Source: The Motley Fool
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Luc Jose Adjinacou
Far from having dampened my enthusiasm, an unsuccessful investment in 2017 on a few cryptos only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay with my pen information relating to this ecosystem.
