In an exclusive interview with Cointelegraph, Blockstream CEO Adam Back stated that for him, nothing is above Bitcoin, not even stablecoins or other coins issued by central banks.
Adam Back invented the hashcash proof of work system, and was one of the first people to work with Bitcoin (BTC). In addition, he was present this year at the G20 meetings in Japan, where he spoke about the positive uses of blockchain.
At G20, sitting next to the president of the Dutch central bank, Back said he believed the blockchain would be another initiative for an open network, and said financial institutions no longer benefit from technology because it would mean that international transfers would not need intermediary banks with questionable credit.
Japan's Financial Services Agency described Back as a legendary cypherpunk who was able to facilitate useful discussions about the role that cryptography and blockchain can play in the future.
Cointelegraph contacted the CEO to comment on China's possible developments of a central bank digital currency (CBDC) and the increasing use of blockchain technology by private institutions. But for Back, none of this is as important as “uncensored money” like Bitcoin.
Topic: NOTHING IS ABOVE BITCOIN (Read 1033 times)
Bitcoin has a steady growth thanks to which anyone can have it and use it in a purchase or sale, and, its value, I repeat, is very progressive. A little less than a year ago I researched, bought and invested in my business.
Yes for sure nothing is above the Bitcoin. Bitcoin is the king of every thing, it has made life of many people. You can do anything with Bitcoin, and now big companies are accepting Bitcoin as payment, it's great news for all the Bitcoin users.
Adam Back, CEO of Blockstream and HashCash, has said: "Nothing is above Bitcoin, no Central Bank Digital Currency, no stable coins."
He continued that: "I think that blockchains are more about permissionless, uncensorable usage and free market money. I think while it is possible and useful for some use cases, like crypto trading, to have stable coins, they inherently fall short of Bitcoin as they have custody risk, and if there is a central bank underwriting also traditional establishment interests reflected in the operation which may look unattractive to users."
Source: https://cointelegraph.com/news/exclusive-nothing-is-above-bitcoin-no-cbdc-no-stablecoins-says-blockstream-ceo-adam-back
It is really the decentralization and market dependent cryptocurrency is the thing that makes bitcoin to be the king in the market. Many people prefer to use it because it offers better way of transactions unlike those currencies that involves third party. As of now nothing can beat bitcoin and I think it will go that way for a very long time. He continued that: "I think that blockchains are more about permissionless, uncensorable usage and free market money. I think while it is possible and useful for some use cases, like crypto trading, to have stable coins, they inherently fall short of Bitcoin as they have custody risk, and if there is a central bank underwriting also traditional establishment interests reflected in the operation which may look unattractive to users."
Source: https://cointelegraph.com/news/exclusive-nothing-is-above-bitcoin-no-cbdc-no-stablecoins-says-blockstream-ceo-adam-back
Bitcoin is steady and decent volume at the moment but you never know whats going to happen with the rate. The 2nd famous coin is still far behind, but we all know what happened with Bitcoin a while ago, then it was also just few cents worth. I am really curious what will happen with other coins with the value. Bitcoin can also collapse
Agree with you, altcoins are also hope of cryptocurrency and shouldn't belittle. They have the capabilities of surpassing bitcoin soon. It's true that bitcoin is still gaining much value but does the high value will exist for many years? We don't know. If bitcoin is the greatest, it doesn't mean we shouldn't invest in the smaller ones. They are being called an alternative for a reason.
Bitcoin is steady and decent volume at the moment but you never know whats going to happen with the rate. The 2nd famous coin is still far behind, but we all know what happened with Bitcoin a while ago, then it was also just few cents worth. I am really curious what will happen with other coins with the value. Bitcoin can also collapse
Adam Back, CEO of Blockstream and HashCash, has said: "Nothing is above Bitcoin, no Central Bank Digital Currency, no stable coins."
He continued that: "I think that blockchains are more about permissionless, uncensorable usage and free market money. I think while it is possible and useful for some use cases, like crypto trading, to have stable coins, they inherently fall short of Bitcoin as they have custody risk, and if there is a central bank underwriting also traditional establishment interests reflected in the operation which may look unattractive to users."
Source: https://cointelegraph.com/news/exclusive-nothing-is-above-bitcoin-no-cbdc-no-stablecoins-says-blockstream-ceo-adam-back
He continued that: "I think that blockchains are more about permissionless, uncensorable usage and free market money. I think while it is possible and useful for some use cases, like crypto trading, to have stable coins, they inherently fall short of Bitcoin as they have custody risk, and if there is a central bank underwriting also traditional establishment interests reflected in the operation which may look unattractive to users."
Source: https://cointelegraph.com/news/exclusive-nothing-is-above-bitcoin-no-cbdc-no-stablecoins-says-blockstream-ceo-adam-back
I agree with the statement of the CEO, and I believe that what makes it (bitcoin) powerful is that no one is above it who really controls the flow of the system. There are a lot of benefits in using bitcoin, not mentioning that it can be used by anyone, anywhere in the world. The con that I can only think of is when people use it to illegal transactions, and so there is a bad image of bitcoin to those who are not familiar of it.
Well, I am completely agree with this CEO of Blockstream and HashCash despite I barely trust these types of capitalists, but he said the truth . Furthermore, it is pretty certain that nothing is better than Bitcoin even all the FIAT, despite they are pretty stable in value and the opposite is true for cryptocurrencies. In fact, I guess that listing Libra coin ( maybe next year ) will defnitely affect on Bitcoin in a positive way because the community of crypto will increase dramatically especially after that event. Better things is going to happen.
even government cannot go above bitcoin so what can be?Bitcoin is above everything in terms of transactions.for me Bitcoin is the fastest payment mode i ever experienced in online system.
i can even earn just by sitting in my wallet so what more can we look for?investments in form of Currency?
i can even earn just by sitting in my wallet so what more can we look for?investments in form of Currency?
Yes there is nothing above the Bitcoin, because Bitcoin is the king of all the coins. It has helped me lot during my bad times i always work on Bitcoin only and trade on it only. Bitcoin is the future.
i don't know why stable coins are mentioned when there is impossible for these currencies to even get closer to what Bitcoin reached. Bitcoin has demonstrated itself to be a predominant cryptographic money resource throughout the previous ten years, surpassing the market top of each other coin available. Despite the fact that there are numerous altcoins that have sprung up over late years, Bitcoin is at the top from multiple points of view.
Bitcoin has stayed at the highest point of the digital currency graphs since the time it was made, and there are numerous proponents that ok it.
It is clearly seen in the percentage of world domination of Crypto where Bitcoin still dominates the market to exceed 60%. I think it's because all Crypto lovers still believe in Bitcoin more than Altcoin. The foundation of Bitcoin now is so strong that market dominance will continue to increase in the future. Bitcoin has stayed at the highest point of the digital currency graphs since the time it was made, and there are numerous proponents that ok it.
Adam Back, CEO of Blockstream and HashCash, has said: "Nothing is above Bitcoin, no Central Bank Digital Currency, no stable coins."
He continued that: "I think that blockchains are more about permissionless, uncensorable usage and free market money. I think while it is possible and useful for some use cases, like crypto trading, to have stable coins, they inherently fall short of Bitcoin as they have custody risk, and if there is a central bank underwriting also traditional establishment interests reflected in the operation which may look unattractive to users."
Source: https://cointelegraph.com/news/exclusive-nothing-is-above-bitcoin-no-cbdc-no-stablecoins-says-blockstream-ceo-adam-back
He continued that: "I think that blockchains are more about permissionless, uncensorable usage and free market money. I think while it is possible and useful for some use cases, like crypto trading, to have stable coins, they inherently fall short of Bitcoin as they have custody risk, and if there is a central bank underwriting also traditional establishment interests reflected in the operation which may look unattractive to users."
Source: https://cointelegraph.com/news/exclusive-nothing-is-above-bitcoin-no-cbdc-no-stablecoins-says-blockstream-ceo-adam-back
but investing in btc is just like gambling no one can predict the next hour of btc while stablecoins on the other hand has the edge that they are not so much volatile like bitcoin and manufactures may prefer these stable coins or banker coin for the trade. there are certain addresses which hold the 80 percent supply of bitcoin and they are the real manipulators who manipulate the market according to their will
Bitcoin has demonstrated itself to be a predominant cryptographic money resource throughout the previous ten years, surpassing the market top of each other coin available. Despite the fact that there are numerous altcoins that have sprung up over late years, Bitcoin is at the top from multiple points of view.
Bitcoin has stayed at the highest point of the digital currency graphs since the time it was made, and there are numerous proponents that ok it.
Bitcoin has stayed at the highest point of the digital currency graphs since the time it was made, and there are numerous proponents that ok it.
Tell us something we don't know already guys.
Nothing is above bitcoin in so many different ways. Most accepted digital asset? check. Most available crypto? Check. Most decentralised? Check. Most secure in terms of 51% attack? Check.
Maybe one day things will change but I don't foresee it happening for at least 10 to 20 years.
Nothing is above bitcoin in so many different ways. Most accepted digital asset? check. Most available crypto? Check. Most decentralised? Check. Most secure in terms of 51% attack? Check.
Maybe one day things will change but I don't foresee it happening for at least 10 to 20 years.
Most popular investment of the last decade, an investment that offered the biggest gains in the last decade, the only decentralized money in the world, unhackable and impossible to steal as long as the owner is responsible. We could go on and on.
Really, Bitcoin is something groundbreaking, and it's not me or other forum members that are saying this but many smart people, like the CEOs of Twitter and PayPal. We are witnessing a monetary revolution.
Bitcoin is the best in terms of value but other things are not like that. when you compare Bitcoin with USD or Euro then this will not a fair comparison in many reasons, In terms of legal aspect, Bitcoin is not in the top 20 coins from my observation, When you don't have any legality then people will not get interested anymore but by this means, already Bitcoin has gained a lot of popularity but that doesn't mean that Bitcoin is above all, I only can say Bitcoin is above all from the cryptocurrency not central bank currency, I think this is too volatility in here.
Bitcoin has been unique with this main characteristic and essentially blockchain technology that makes it distinct from any other digital currency.
Bitcoin is also most promising and valuable coin in crypto markets.i think in future bitcoin price will more up.now many people are also wait for bitcoin price up. This is exactly why stablecoins like USDT, TUSD, DAI, Libra, etc. won't gain much popularity. Cryptocurrencies and the blockchain technology were created with a scope - that we get rid of all the centralization and excessive control of authorities over the world. Corruption is at all time high level and transparency is nowhere near where we would like it to be. By adopting Bitcoin and blockchain & adiacent tech like smart contracts I'm sure we will make a much efficient & fair world.
Yes indeed, even though this is the risk, people still need stable coins because it is difficult at this time for Bitcoin and the like to be adopted. Actually bitcoin does not provide all solutions to overcome economic problems. It's just that it removes the function of centralized control. Other than that, i'm sure everyone is okay with that.
This is exactly why stablecoins like USDT, TUSD, DAI, Libra, etc. won't gain much popularity. Cryptocurrencies and the blockchain technology were created with a scope - that we get rid of all the centralization and excessive control of authorities over the world. Corruption is at all time high level and transparency is nowhere near where we would like it to be. By adopting Bitcoin and blockchain & adiacent tech like smart contracts I'm sure we will make a much efficient & fair world.
Stable coins will gain more popularity as it is the resting place of traders in time of Bitcoin downturn.
Decentralization of cryptocurrency is not complet without the centralization of some part.
We should always consider the native system that was already in place before the advent of cryptocurrency.
To have a fair financial system, I still believe that the harmonization of the native system and blockchain Technology will help in achieving it.
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This is true to the extent of cryptocurrency world only. Nothing in cryptocurrency world is above bitcoin. I don’t think this is valid also for outside cryptocurrency domain. Bitcoin value right now is measured in $ then how can we say that nothing is above bitcoin not even central banks digital currencies?
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This is why I like bitcoin. I don't like being held back and told what to do by "the man" I agree and bitcoin creates freedom for people looking for that sort of thing. Not wanting others to have control of your money and for you to have complete control over it. Many people have felt that way for a long time but it didn't help since they could not just put their money under their bed for safety reasons so they are forced to use a bank. With crypto there is no need for any of that and the power is with you. Crypto is empowering.
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