Ruby on Rails creator backpedals about Bitcoin: 'We need crypto'
Canada’s move to freeze Bitcoin (BTC) wallets and bank accounts related to COVID-19 vaccine protests is driving cryptocurrency adoption, with some crypto naysayers reconsidering their stance on Bitcoin.
David Heinemeier Hansson, the Ruby on Rails web development framework creator, took to Twitter on Monday to tell his followers that he was no longer a Bitcoin skeptic.
“I still can’t believe that this is the protest that would prove every Bitcoin crank a prophet. And for me to have to slice a piece of humble pie, and admit that I was wrong on crypto's fundamental necessity in Western democracies,” Hansson wrote.
"I still can't believe that this is the protest that would prove every Bitcoin crank a prophet. And for me to have to slice a piece of humble pie, and admit that I was wrong on crypto's fundamental necessity in Western democracies." https://t.co/9smNKyabm0
In a blog post titled “I was wrong, we need crypto,” the Danish programmer mentioned that he’s been skeptical about Bitcoin and the crypto industry in general since the early 2010s. He noted that some of his biggest arguments against Bitcoin were the cryptocurrency’s energy consumption, transaction fees, the lack of real decentralization, supposed fraud involving Tether (USDT) stablecoin and many others.
But all these arguments do not provide enough reasons to disregard cryptocurrencies as a tool to support freedom and democracy in situations where countries like Canada impose martial law in response to peaceful protest movement, Hansson argued, stating:
Hansson’s transformation from a Bitcoin skeptic to a Bitcoin supporter in response to Canada’s invoked Emergencies Act is another example of the growing crypto adoption fueled by somewhat excessive involvement of the
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