Connect with us

Bitcoin

Bitcoin [BTC]: Mike Novogratz says people should bow down to Satoshi Nakamoto and thank him

Avatar

Published

on

Bitcoin [BTC]: Mike Novogratz opines that somebody should bow down and rub Satoshi's toes and thank him
Source: Pixabay

Bitcoin advocate and billionaire Mike Novogratz was in the news again after he said that people should bow down to Bitcoin’s creator, Satoshi Nakamoto, and thank him for the world’s largest cryptocurrency. A leading voice in the crypto ecosystem, Novogratz appeared in an exclusive video with the founder of Morgan Creek Digital, Anthony Pompliano.

Novogratz is of the opinion that all kinds of funds, be it crypto or hedge, should own some amount of Bitcoin. He also called the digital asset “sovereign money.” Talking about BTC’s fundamental technology, the blockchain, he added that Bitcoin, originally a social experiment, had become “sovereign money” and held a market cap of $71.80 billion.

Novogratz also drew parallels with gold, a store of value. Novogratz claimed,

“Bitcoin provides a really interesting alternative to gold.”

He was previously in the news when he claimed Bitcoin will eventually become the digital gold, at the MENA summit 2019.



Bitcoin’s prices rose to breach the $4,000 mark recently, following the recent market surge led by the market’s altcoins. There is architecture in place to facilitate adoption and accessibility, the billionaire said, predicting that over a period of twenty years, Bitcoin was going to be “in the game.”

Novogratz also serves as a member of the Investment Advisory Committee on Financial Markets, at the Federal Reserve Bank of New York. While talking about his first tryst with Bitcoin as a member of the committee, Novogratz said that the committee viewed cryptocurrency more as a payment system than a currency. However, many in the Federal Reserve did love the idea of blockchain technology as a store of value, he said.





Subscribe to AMBCrypto’s Newsletter


Bitcoin

Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra

Febin Jose

Published

on

Bitcoin’s [BTC] biggest threat is its users, not governments, says Bitcoin.org’s Cobra
Source: Pixabay

Bitcoin [BTC], the world’s largest cryptocurrency, saw a significant surge earlier this month, helping the coin break strong resistance at $5,000 and $5,200. Following the great fall of the king coin in early 2018, the Bitcoin ecosystem was struggling with scalability and technological issues, eventually leading to the hard fork.

Bitcoin.org’s Cobra, who is also the co-owner of Bitcointalk.org, has always maintained that Bitcoin was the cryptocurrency to look out for through his various Twitter bouts with prominent personalities in the cryptoverse. Due to his strong, unbridled support for Bitcoin, he has often trashed altcoins for their low market dominance.

In a new Twitter thread, Cobra spoke about the “biggest threat” to the Bitcoin ecosystem. Even though many crypto-enthusiasts believe that governments and technological issues were the biggest threats to the king coin, Cobra had a completely different opinion.

According to the Bitcoin maximalist, users have the potential to signal Bitcoin’s doom. His tweet read,

Source: Twitter

Source: Twitter

Though most Bitcoin supporters usually support his opinions, this tweet was met with a lot of resistance. Twitterati swarmed the thread in an attempt to prove him wrong. A user named @MrHodl alleged that this could not be true as Bitcoin had “no community.” He added that this, in turn, prevented toxicity in the ecosystem.

Cobra replied to the tweet stating,



“I think there is a community, it’s just not fully representative of everyone with a stake in Bitcoin. Most holders are quiet and not too familiar with what’s going on. There’s people with 1000+ BTC and they don’t engage at all with discussion platforms, just lurk.”

Some Twitter users took it as an attack on Bitcoin investors and opposed Cobra’s stance. A user @CarstenBKK commented,

“Maybe I am lost in translation. What do you wanna tell us? That you are part of Bitcoin network of people owning/using it, but you are just disgusted by the idea, that the network is called community in the sense of direct human collaboration and affection to the groups ideals?”

Previously, Cobra had accused Twitter’s Jack Dorsey and Square Crypto of pandering to Bitcoin users, while also suggesting that the crypto project was merely a way to bring in more users for Dorsey’s CashApp. His tweet read,

“Gotta respect how hard @sqcrypto is pandering to Bitcoiners. Very clever how @Jack has embedded himself in the community; in return the community promotes @CashApp, which gives that service a small but dedicated and activist group of early users.”





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending