CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin For Beginners
    • Bitcoin & Crypto Guides 101
  • IEO & ICO List
    • IEO & ICO List
    • Token Sale Evaluations
    • Airdrops
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • The ICO & IEO List
  • CryptoPotato Crypto Fund
  • Airdrops
  • Ethereum Price Analysis
  • Ripple Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$7,547.28
  • ethereum
    ETH$148.76
  • bitcoin
    BTC$7,547.282.18%
  • ethereum
    ETH$148.760.868%
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Andreas Antonopoulos: This Is Why Bitcoin Can’t Be Regulated
    Home » Crypto News » Andreas Antonopoulos: This Is Why Bitcoin Can’t Be Regulated

    Andreas Antonopoulos: This Is Why Bitcoin Can’t Be Regulated

    Author: Jordan Lyanchev Updated Nov 20, 2019 @ 16:59

    Andreas Antonopoulos, one of the most popular Bitcoin proponents, shared his views on the matter of cryptocurrencies and the global financial system in a recent YouTube interview. He discussed Bitcoin’s current and future role in the financial world while also touching on regulations, as well as governmental actions towards digital and fiat currencies.

    Broken Traditional Financial System

    In a recent interview, Antonopoulos, who is also a host on the famous Let’s Talk Bitcoin podcast, shared his views on the current state of the traditional financial system. He thinks that some of the governmental involvements corrupt it. He also believes that taxing people through inflation to pay off national debts and implementing negative rates is “bad for money” and diminishes its true purpose to “express value and coordinate resource allocation.”

    He talked more about how governments initially had a relatively open financial system, but since the 1970s have been slowly migrating towards “a system of totalitarian control.” According to Antonopoulos, they believe it’s their right to keep financial transactions under complete surveillance and be able to “seize, freeze, constrain, and censor financial transactions between people.” He continued by saying that the whole idea is unhealthy, and “its fundamental precepts are fascist in nature.”

    Perhaps one of the most recent examples that underscore this point came from the Bank of America. The institution closed the account of the ex-CFO of PayPal without providing any explanation, despite the fact that he has been a client for 20 years.

    Andreas Antonopoulos Talking
    Andreas Antonopoulos. Source: Wikimedia Commons

    Even though governments say that surveillance and control are safety measures, Antonopoulos suspects that giving this much power to a handful of people can lead to more significant crimes in the future.

    Bitcoin’s Role and Crypto Regulations

    With all restrictions and surveillance within the traditional financial system, Antonopoulos believes that this is where Bitcoin comes to life. He said that we live in a globalized world without any practical boundaries, and with over 2 billion people having access to the internet, we need “internet money,” hence Bitcoin’s role.

    According to Antonopoulos, the popular cryptocurrency is a very radical form of money and is something completely new, as there has never been a similar asset before. He thinks that its radical and disruptive nature might be the reason why some people are having trouble with understanding and describing it. He also noted that Bitcoin is in its very early stages of evolution, and that fiat money will have a role in its future.

    He also touched upon another sensitive topic within the community – cryptocurrency regulations and the attempts from governments and watchdogs to find a suitable solution. Antonopoulos, being a long-time Bitcoin advocate, believes that the technology behind the largest crypto could be the reason why they are yet to succeed:

    “They [governments] keep trying to apply all of these regulations, but the thing they fundamentally cannot regulate is the protocol and the idea itself. Because it’s a protocol and in pure terms – a technology based on mathematics – there’s nothing to regulate there, it’s simply an idea […] Governments are desperately trying to regulate the edges of the system which is futile. The fundamental reason why it is futile is because Bitcoin and other cryptocurrencies do not exist in a single jurisdiction, they’re truly transnational. They are so poorly understood by regulators that they can’t even begin to approach them, so all they can do is regulate the banks that operate around them.”

    Be the first to know about our price analysis, crypto news and trading tips: Follow us on Telegram or subscribe to our weekly newsletter.

    You might also like:

    Weekly Market Summary: Records Are Breaking As Bitcoin Stuck Above $7000

    Weekly Market Summary: Records Are Breaking As Bitcoin Stuck Above $7000

    Crypto Price Analysis & Overview December 6th: Bitcoin, Ethereum, Ripple, Raven, and Matic

    Crypto Price Analysis & Overview December 6th: Bitcoin, Ethereum, Ripple, Raven, and Matic

    Turn Of Events: General Manager of BIS Urges Central Banks To Embrace Digital Money

    Turn Of Events: General Manager of BIS Urges Central Banks To Embrace Digital Money

    Is Binance Bidding For Lichtenstein Union Bank? Binance CFO Denies

    Is Binance Bidding For Lichtenstein Union Bank? Binance CFO Denies

    HODLing Millennials: Bitcoin Trust (GBTC) Leading Schwab’s Generation-Y Retirement Equity Holdings

    HODLing Millennials: Bitcoin Trust (GBTC) Leading Schwab’s Generation-Y Retirement Equity Holdings

    Bitcoin Price Analysis: BTC to $6000 Or $8000? Bulls Vs. Bears War Continues

    Bitcoin Price Analysis: BTC to $6000 Or $8000? Bulls Vs. Bears War Continues

    Enjin (ENJ) Surges 60% Following Partnership With Microsoft

    Enjin (ENJ) Surges 60% Following Partnership With Microsoft

    Ethereum Price Analysis: Can ETH Finally Break Above $150?

    Ethereum Price Analysis: Can ETH Finally Break Above $150?

    Bitcoin Breaks Records: $8.9 Billion Processed In An Hour

    Bitcoin Breaks Records: $8.9 Billion Processed In An Hour

    Who Wants Bitcoin For $680? A Sudden Flash Crash On Binance USDS Market Sank BTC Price

    Who Wants Bitcoin For $680? A Sudden Flash Crash On Binance USDS Market Sank BTC Price

    DigiByte (DGB) Getting Delisted From Poloniex Just Hours After Bashing Tron On Twitter

    DigiByte (DGB) Getting Delisted From Poloniex Just Hours After Bashing Tron On Twitter

    Whale Alert: Bitcoin Worth $313 Million Was Sent from Bittrex Exchange to Unknown Wallet

    Whale Alert: Bitcoin Worth $313 Million Was Sent from Bittrex Exchange to Unknown Wallet

    Smart Contract Platform RSK Unveils $200k Developer Incentivization Program

    Smart Contract Platform RSK Unveils $200k Developer Incentivization Program

    Only In Crypto: Bitcoin Just Spiked 8% In 10 Minutes And Retraced

    Only In Crypto: Bitcoin Just Spiked 8% In 10 Minutes And Retraced

    Report: Number of Cryptocurrency Funds Decreases As Retail Investors Drive The Market

    Report: Number of Cryptocurrency Funds Decreases As Retail Investors Drive The Market

    $1.5 Million Worth Of Cryptocurrency Seized By Australia’s Border Force

    $1.5 Million Worth Of Cryptocurrency Seized By Australia’s Border Force

    Bitcoin Price Breaks Down Towards $7000: The Indicators Anticipating a Huge Move Coming-up

    Bitcoin Price Breaks Down Towards $7000: The Indicators Anticipating a Huge Move Coming-up

    John McAfee Kicks Off 2020 Presidential Campaign: Vows to Disrupt This System

    John McAfee Kicks Off 2020 Presidential Campaign: Vows to Disrupt This System

    Tezos Spikes 8% As Binance Announces Zero-Fee XTZ Staking

    Tezos Spikes 8% As Binance Announces Zero-Fee XTZ Staking

    Matic’s Private Altcoin Season: 160% Bi-Weekly Gains Following Promising News

    Matic’s Private Altcoin Season: 160% Bi-Weekly Gains Following Promising News


    Andreas Antonopoulos Bitcoin Regulations

    About The Author

    Jordan Lyanchev View more posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

    Join Our Community

    • Facebook

    • Twitter

    • YouTube

    • Telegram


    CloudBet
    Bitcoin Editorials

     2 Years Since the Bitcoin Bubble: How Easy is it to Buy Cryptocurrencies Compared to 2017? 

     2 Years Since the Bitcoin Bubble: How Easy is it to Buy Cryptocurrencies Compared to 2017? 

    Nov 20, 2019

    How To Trade Cryptocurrency Derivatives On Delta Exchange: The Complete Guide & Review

    How To Trade Cryptocurrency Derivatives On Delta Exchange: The Complete Guide & Review

    Nov 18, 2019

    This Is Why Bitcoin Price Could Hit $55,000 Next Year: Crypto Zombie in Trader’s Digest

    This Is Why Bitcoin Price Could Hit $55,000 Next Year: Crypto Zombie in Trader’s Digest

    Nov 6, 2019

    Remember November: Bitcoin Price Tends To Go Crazy During Novembers, What To Expect On Nov-2019?

    Remember November: Bitcoin Price Tends To Go Crazy During Novembers, What To Expect On Nov-2019?

    Nov 4, 2019

    Become a CryptoPotato VIP

    Receive our market updates and crypto trading tips and news by email (We hate spam, and send max of 1 weekly mail):


    Recent Posts
    • Weekly Market Summary: Records Are Breaking As Bitcoin Stuck Above $7000

      Weekly Market Summary: Records Are Breaking As Bitcoin Stuck Above $7000

      Dec 6, 2019
    • Crypto Price Analysis & Overview December 6th: Bitcoin, Ethereum, Ripple, Raven, and Matic

      Crypto Price Analysis & Overview December 6th: Bitcoin, Ethereum, Ripple, Raven, and Matic

      Dec 6, 2019
    • Turn Of Events: General Manager of BIS Urges Central Banks To Embrace Digital Money

      Turn Of Events: General Manager of BIS Urges Central Banks To Embrace Digital Money

      Dec 6, 2019
    • Is Binance Bidding For Lichtenstein Union Bank? Binance CFO Denies

      Is Binance Bidding For Lichtenstein Union Bank? Binance CFO Denies

      Dec 6, 2019
    • HODLing Millennials: Bitcoin Trust (GBTC) Leading Schwab’s Generation-Y Retirement Equity Holdings

      HODLing Millennials: Bitcoin Trust (GBTC) Leading Schwab’s Generation-Y Retirement Equity Holdings

      Dec 6, 2019
    Become a CryptoPotato VIP
    Receive our special crypto tips and news by email: We hate spam, and send max of 1 weekly mail
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Scholarship
    Cannabis Stock News
    Stock Analysis & Overview
    Terms of service | Privacy Policy | GDPR
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright Cryptopotato Team 2016
    Scroll to top