Altcoins Talks - Cryptocurrency Forum

Learning & News => News related to Crypto => Topic started by: newshunter on March 29, 2021, 07:01:01 AM

Title: Former OCC official says crypto has backing but dollar ‘may not’
Post by: newshunter on March 29, 2021, 07:01:01 AM

Former OCC official says crypto has backing but dollar ‘may not’

Former OCC acting comptroller Brian Brooks claimed that cryptocurrencies like Bitcoin “actually are backed by something.”

Source: Former OCC official says crypto has backing but dollar ‘may not’ (https://cointelegraph.com/news/former-occ-official-says-crypto-has-backing-but-dollar-may-not)

Would appreciate your opinion about this

Title: Re: Former OCC official says crypto has backing but dollar ‘may not’
Post by: Bobcrypto on March 29, 2021, 08:25:16 AM

I think Former OCC acting comptroller Brian Brooks claimed has a valid point. Bitcoin/stable coins are part of the backup for its unstable price movement besides the facts that they’re also backed by underlying networks, that is, Bitcoin increasing users or community.  This fact is very correct, I think.