The CEO and co-founder of Zap.org, Nick Spanos, has claimed that Bitcoin will recover despite its current bearish movements, but governments won’t have an easy ride.
Spanos is a pioneer in the Bitcoin and blockchain technology space. In 2013, Spanos founded Bitcoin Center NYC – the world’s first-ever cryptocurrency trading floor, which initially opened directly across from the NYSE in 2013.
Spanos, who is considered by many to be a go-to expert in cryptocurrency markets, appears to have no doubts that a recovery is around the corner. He explained:
“We’ve seen cryptocurrency crash in the past. It’s gone down for months, but we see it go back up again once people get back in, and when it does, it goes up very fast and very high because there are only so many. It’s digital scarcity.”
The Bitcoin Center founder suggests that blockchain has a great future due to the lack of third-party brokerage which has created through both mathematics and cryptography. This combination creates an environment where banks can lose a high degree of significance and potency in financial markets.
On the well-trodden subject of regulation, which governments around the world are at various stages of attempting to tackle to either hinder or support, depending on local financial environments, Sanos has firm views. He claims, “You can’t really regulate mathematics, no matter how hard governments try.”
He believes that governments are understandably trying to perpetuate systems which may have done their course, comparing crypto regulation to that of video rental companies attempting to survive in the face of far more efficient, and cheaper, technologies. It’s small countries, he maintains, that will be the winners in the final analysis.
“It is already happening; all the big things are happening in small countries because they have nothing to lose. When people understand how that will change their industry, then everyone jumps up and that’s when we see the peak again.”
Spanos is internationally respected as an ambassador of Bitcoin, and was formally invited to struggling Venezuela by president Maduro when the Petro became the country’s state cryptocurrency, although the socialist-based doctrine behind the Petro was not a concept he could support.
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