CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$46,224.00
  • ethereum
    ETH$1,434.32
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Crypto News » You Can’t Kill Bitcoin, Says Rep. Patrick McHenry

    You Can’t Kill Bitcoin, Says Rep. Patrick McHenry

    Author: Felix Mollen

    Last Updated Dec 15, 2019 @ 21:15

    US Congressman Patrick McHenry, who serves the 10th District of North Carolina, has weighed in on the matter of Bitcoin and whether it can be ended. According to him, there’s absolutely “no capacity to kill Bitcoin”. 

    You Can’t Kill Bitcoin

    Speaking to CNBC’s Squawk Box, Rep. McHenry shared his thoughts on Bitcoin. 

    When asked about whether or not politicians and regulators across the globe would allow the emergence of cryptocurrencies, the congressman answered that there’s no way to stop Bitcoin. 

    I think there’s no capacity to kill Bitcoin. Even the Chinese with their Firewall and their extreme intervention on their society cannot kill Bitcoin. So, distributed ledger, full and open, in the essence of Bitcoin, as a first mover in the space, the developer of this technology… […] My point here is, you can’t kill Bitcoin.

    He also shared his thoughts on other projects in the space which try to “mimic” Bitcoin. 

    New iterations of this, that are trying to mimic it, they are not fully distributed, they are not fully open, there are different mechanisms to kill it.

    However, the congressman agreed with the point that regulators have a huge impact on its legal status and ability to be used by the masses. Still, McHenry didn’t fail to outline the progress Bitcoin has made in the past 10 years. 

    You’re talking about something that was a joke 10 years ago, that people were giving away for free – well, not a joke, but people were giving it away for free, and it’s now trading at $10,000.

    Others Try to Mimic it

    Another interesting bit of McHenry’s interview was the fact that he said, “The essence of Bitcoin is what Facebook and Libra, and other corporations are trying to mimic.”

    People have indeed been comparing Facebook’s Libra to Bitcoin. Looking at them closely, however, reveals monumental differences. 

    bitcoin_vs_libra-min
    Bitcoin VS. Libra

    In any case, the past week has been somewhat positive for Bitcoin in terms of validation. Just a few days ago, the Chairman of the US Federal Reserve called it a “store of value… just like gold.”

    Unfortunately, this hasn’t done much good for its price, as Bitcoin tumbled below $10,000 and is currently trading at around $9,500. 

    Enjoy reading? Please share:
    Facebook Twitter LinkedIn Telegram
    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

    Read more on: Bitcoin Diem (Libra) US Congress

    About The Author

    Felix Mollen View more posts by this author

    Felix got into Bitcoin back in 2014, but his interest quickly expanded to everything blockchain-related. He's particularly excited about real-world applications of blockchain technology. Having worked as a professional content writer for three years before that, Felix transitioned to working on blockchain-centered projects and hasn't looked back ever since.

  • bitcoin
    BTC$46,224.00
  • ethereum
    ETH$1,434.32
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    pionexb
    2local
    Bitcoin Editorials
    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    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 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!