Cardano founder Charles Hoskinson has stirred the crypto community, revealing significant ‘truths’ about Bitcoin’s centralized origins and its regulatory perceptions in the United States. 

Hoskinson Unveils Bitcoin Truth

Founder and CEO of Cardano, Charles Hoskinson has recently published a live video titled ‘On Bitcoin, Ethereum, and Cardano’ via his main X (formerly Twitter) account. In the video, Hoskinson delved deep into the decentralized nature of Bitcoin and the present regulatory outlook of cryptocurrencies. 

He made emphasis on the growing criticism from Bitcoin maximalists, who constantly glorify BTC but condemn other cryptocurrencies like Cardano.  Hoskinson revealed that one of the reasons Pseudonymous Bitcoin Inventor, Satoshi Nakamoto has continued to remain unidentified was due to the lack of clarity for cryptocurrencies in the US financial regulatory landscape. 

The Cardano founder disclosed that at some point BTC was centralized because Satoshi had complete control of the Bitcoin network with 100% hash power at its preliminary stages. 

“The reason Satoshi stayed anonymous by his own admission was the legal ambiguity of issuing a currency,” Hoskinson stated. 

He added:

“Some of the bitcoin issued through the mining process was done in a completely centralized way because only one actor mined them and had complete control over the network and at any given time could have made arbitrary decisions to change the network in any way.”

BTC price continues upward rally | Source: BTCUSD on Tradingview.com

Hoskinson Asserts US Regulations Pose A Threat To Crypto Revolution

In his video

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Author: Scott Matherson

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