Altcoin News: US Congressman Considers Bitcoin Destruction Impossible
US Congressman Patrick McHenry believes that Bitcoin will continue to exist regardless of the will of political elites.
During an interview on CNBC this Wednesday, the interlocutor asked McHenry if regulators and politicians would allow cryptocurrencies to exist.
“I think there’s no capacity to kill Bitcoin. — Even the Chinese with their firewall and extreme intervention in their society could not kill Bitcoin,” he added.
McHenry also mentioned other projects in the cryptocurrency space that “new iterations of” Bitcoin are trying to “mimic it,” but because they aren’t fully open source or completely decentralized, there’s “mechanism” to destroy or control them that just don’t exist in altcoins.
At the same time, the congressman acknowledged that the authorities have a significant influence on the legal status of Bitcoin and the possibilities of its use by the general public. However, this does not detract from the progress that has been achieved in the 10 years of cryptocurrency.
“We are talking about something that was nonsense 10 years ago, which people shared for free. Now what was nonsense is trading at $10,000,” added McHenry.
Author: Marko Vidrih