The coming year will be critical for cryptocurrency, according to Charles Hoskinson, the developer of Cardano (ADA), as the government makes game-changing decisions for the sector.
Hoskinson spoke to guests at the Cardano Community event how the cryptocurrency industry has substantially changed since the creation of Bitcoin (BTC).
According to him, Bitcoin had no value in 2009. Nobody cared about it and it was a single person or an entity. In a day, the hash rate would double or triple. It would decline sharply when they went on vacation or stopped mining. Take a look at how delicate that is in the present.
He added that he had recently returned from Mongolia and revealed that a camel herder had it (BTC). When you travel to Dubai, there is a king who claims that restrictions should be made with regard to it. It’s amazing that nations have adopted bitcoin… Actually, there are two—one is the Central African Republic.
He also said that in order to hold that discussion, forty-four central banks were invited to El Salvador, but it is just the beginning. Ten years ago, we discussed how to persuade PayPal to mention us.
A statement from Larry Page would be fantastic. It would be awesome if Bill Gates said something. As it turns out, everyone loves Bitcoin and hates Bill Gates. I guess we won.
Next 12 Months to Witness Something “More”
Hoskinson asserts that he anticipates significant changes to the industry in the upcoming 12 months. More will happen in this industry and throughout the world in the upcoming 12 months than has ever happened in the bitcoin space in the previous 14 years.
“Standards are going to be set, laws are going to be made, decisions are going to be made that fundamentally change how you use cryptocurrency, what you’re allowed to do, what you’re not allowed to do, who’s a criminal, who isn’t and we have some choices to make – do we want to live in a world of liberty and freedom or do we want to live in a world where people tell us what we’re allowed to do?”