Monday, July 26, 2021
pool-ads
Home Latest News Bitcoin Ex-Goldman CEO Blankfein says if Bitcoin becomes too successful, governments will probably attempt...

Ex-Goldman CEO Blankfein says if Bitcoin becomes too successful, governments will probably attempt to shut down Bitcoin

Blankfein misrepresented the traceability of bitcoin and falsely argued that users are oblivious to their counterparties.

On CNBC Monday, former Goldman Sachs CEO Lloyd Blankfein pooh-poohed bitcoin’s “store of value” and “medium of exchange” plans, stressing that if the cryptocurrency ever expanded to a large scale, it would definitely be shut down by regulators.

“If I were a regulator, I’d be, you know, I would be kind of hyperventilating at the success of [bitcoin] at the moment and I’d be arming myself to deal with it,” Blankfein said.

As coindesk.com reported, Bitcoin investors have no way of knowing if enemy states such as North Korea and Iran are counterparties to their transactions, the finance executive said. He then apparently implied that there was no way to track Bitcoin transfers, totally lacking the inherent traceability of the cryptocurrency.

The effectiveness of Bitcoin at weathering the impending storm of the regulator may serve to undermine its most attractive attributes, Blankfein said.

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

Sourcecoindesk

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
magazine-ads

Must Read