Donald Trump is back in power crypto Conversations online began after sharing an viral video explaining bitcoin during a U.S. Senate Hearing. Peter Van Valkenburgh is the Director of Research for Coin Center in this video. He makes a strong case to defend Bitcoin’s role as a public financial infrastructure and decentralized nature.
What Bitcoin Means
As MJTruthUltra has stated post Donald Trump, the president of America has shared a message on X. video Peter Van Valkenburgh (Director of Research at Coin Center) explains Bitcoin in a very powerful way during an American Senate hearing.
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Van Valkenburgh referred to Bitcoin in his remarks before legislators. world’s The first crypto currency, built from the public’s first blockchain network. He stressed the fact that Bitcoin lets anyone send and receive global value using only a computer with an internet connection, and without depending on trusted third parties.
Bitcoin is the first digital payment infrastructure that was open to all, and he compares it with the Internet before the money became available. Traditional financial systems rely on banks. update Bitcoin is a digital currency that uses public blockchains to record transactions and verify them. This means anyone, with or without credit, can have access.
Van Valkenburgh claimed that Bitcoin’s design is decentralized, and addresses directly the vulnerabilities inherent in centralized systems. These often contain single points for failure. The vulnerabilities have resulted in some of the worst security breaches ever recorded. His examples include high-profile events such as the Equifax Data Breach, in which the personal information for 143 million Americans was exposed, SWIFT Network Frauds that totaled hundreds and millions of dollars including North Korean Hackers, or the $1.8 billion Punjab National Bank fraud, where internal trust could be exploited.
Van Valkenburgh mentions Dyn’s 2016 botnet attack that brought major websites to a halt. Van Valkenburgh extends his concerns to Internet of Things where hackers have compromised pacemakers and baby monitors as well as vehicles due to their reliance on central control. systems.
To lessen reliance upon powerful corporate intermediaries, he supports the creation of public digital infrastructures, such as Bitcoin and Blockchain networks. They encourage competition, resilience and empowerment of users by potentially Replacing centralized chokepoints vulnerable to failure, abuse and censorship.
MicroStrategy now owns over 600 bitcoin
Even though prominent financial and political figures are promoting Bitcoin, institutions continue to adopt the asset, with large companies such as Strategy buying it in bulk. BTC is gaining in popularity among large businesses and investors.
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BNB Swap revealed Michael Saylor’s X StrategyThe largest Bitcoin corporate has expanded its cryptocurrency holdings. massive BTC and crypto treasury. MicroStrategy has purchased 6,220 BTC for $739.8 millions. The latest acquisition brings MicroStrategy’s Bitcoin total to a staggering $739.8 million. holdings A staggering 607 770 BTC has been accumulated, with an estimated base cost of $43.6 Billion.
Chart taken from tradingview.com. Featured image courtesy of iStock.
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