The coming year will be critical for cryptocurrency

The coming year will be critical for cryptocurrency, according to Charles Hoskinson, the developer of Cardano (ADA), as the government takes game-changing choices for the sector.Show more

Hoskinson spoke to guests at the Cardano Community event how the cryptocurrency industry has substantially changed since the creation of Bitcoin (BTC).

“Bitcoin had no value in 2009. Nobody gave a fig about it. A single person or thing was frail. In a day, the hash rate would double or treble. It would decline sharply when they went on vacation or stopped mining. Take a look at how delicate that is in the present.

In order to hold that discussion, forty-four central banks were invited to El Salvador, but it is only 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 anything. As it turns out, everyone loves Bitcoin and hates Bill Gates. I guess we prevailed.

Hoskinson, though, asserts that he anticipates significant changes to the business in the upcoming 12 months.

“More in this sector and in this planet will occur over the next 12 months than has ever occurred in the prior 14 years in the bitcoin area.

We have a choice 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 are allowed to do? Standards will be set, laws will be made, and decisions will 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, and who isn’t.