The members of the crypto-verse always have cover for the industry. Coinbase’s CEO and co-founder, Brian Armstrong’s latest set of tweets is a significant example of the same.
Just last week, Jackson Palmer, the Dogecoin [DOGE] creator, took to Twitter to reveal why he would never return to the crypto industry. While elaborating on this, Palmer went on to diss the crypto-verse by suggesting that the crypto industry was nothing but an “inherently right-wing, hyper-capitalistic technology.” Talking about the scarcity of certain assets, he noted that they were “artificially enforced.” he also stated that the market was formulated to steer away from tax and regulatory oversight.
This undoubtedly stirred some heat in the market. Coinbase’s CEO, however, dealt with it in a composed manner and tweeted to Palmer, saying everything depended on one’s perspective.
Coinbase’s CEO highlights: “Crypto is a much needed breath of fresh air”
In an array of tweets, the Coinbase CEO suggested how certain people rely on the government for solutions. This, in turn, gives the fiat system the upper hand. Speaking about the other category, Armstrong stated,
“2/ If you believe government solutions are often inefficient, overpromise/underdeliver, and come with unintended consequences, and that personal responsibility mixed with free markets will create better outcomes for everyone, then crypto is a much needed breath of fresh air.”
Furthermore, Armstrong reminded Palmer and his followers how free markets were very “messy.” Breakthroughs happen only after going over a lot of bad ideas, he added. Elaborating on accredited investor laws, the Coinbase CEO tweeted,
He went on to credit Bitcoin’s ability in making people wealthy to this law. The fact that BTC wasn’t a security-enabled people to pour into it from the very beginning.
In addition to this, he noted how crypto wasn’t here to eliminate wealth inequality. Instead, the market was focused on creating “wealth mobility” as well as “equality of opportunity. It levels the playing field, at least to some degree.”
He concluded with,
“9/ Crypto is simply providing an alternative for people who want more freedom. Everyone can make their own choice, and that is probably a good thing.”