Blockstream CSO Shares the Consequences of Being Contentious Towards Bitcoin Legally
During the Litecoin Summit held on Tuesday, October 29, 2019, the Chief Strategy Officer of Blockstream, Samson Mow shared his viewpoint on regulatory restrictions on Bitcoin. To be more specific, he shared during the Liquid Network panel that such restrictions could be both good and bad for regulators, reports Coin Telegraph.
Some of the big names that participated in this panel, alongside Mow, include Founder of Litecoin, Charlie Lee and Angel Investor, WhalePanda.
That said, Mow expounded on what stems from being hostile to the giant crypto,
“But the thing is hostility to Bitcoin is a double-edged sword like if you are in power and you ban Bitcoin, and you fall out of power, then you’re screwed.”
He further added that when it comes to deciding on the regulatory framework for Bitcoin, it should be done in a careful manner, because how one approaches regulation is indicative of whether they will end up on the good or bad side of the sword.
It is clear that Mow is in favor of Bitcoin, as he seems fond of its ability to potentially resolve issues related to financial systems (i.e. inflation), and how its decentralized and deflationary nature (as the news outlet put it) allows for global adoption. That said, one area that the CSO previously shared, he does not see Bitcoin flourishing in, is as a payment solution, but he trusts that this problem could easily fade with the implementation of the Lightning Network.