CEO of Coinbase believes that massive adoption of Bitcoin will depend on its volatility
Brian Armstrong, CEO of the popular Exchange of cryptocurrencies Coinbase, believes that the massive adoption of Bitcoin depends mainly on volatility, scalability and ease of use. Armstrong made his claim during a live “Ask Me Anything” (AMA) session on April 2.
In the 45-minute AMA, a crypto-enthusiast asked Armstrong about the potential adoption of cryptocurrencies. He responded that a cryptocurrency can achieve massive adoption by improving scalability and ease of use, while at the same time reducing volatility.
For Armstrong, it is necessary to control the volatility of cryptoactives in order to attract more traditional investors. Therefore, the industry needs more stable prices, for this, proposes the use of stablecoins.
Armstrong also added that there are currently up to ten teams working on scalability solutions, such as Lightning Network, to improve the speed of Bitcoin transactions. Thanks to the development of these solutions, cryptocurrencies can reach 500 to 5000 transactions per second and start working on Visa and PayPal volumes.
Coinbase will add support for buying and selling XRP
The CEO of Coinbase also said that work should be done to improve the ease of use of cryptocurrencies. He points out that there are currently too many steps a user needs to make to invest in cryptocurrencies. Armstrong cited the Chinese application WeChat as an example of usability.
Likewise, Armstrong reiterated his love for the creation of Satoshi Nakamoto, the Bitcoin. However, he regrets being too involved in the promotion of BTC sometime in 2013-2014, thinking that the currency could become a scalable payment network for all. “I totally underestimated the controversy that this idea could become in the BTC community,” he confessed.
Recall that some accused Coinbase of adding value to Bitcoin. What led Armstrong to be more impartial about digital assets.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.