Why Crypto Will Win the Battle Against the State

In an exclusive interview with Cointelegraph, ShapeShift Erik Voorhees shared his views on the current and state of in the United States. He argued that crypto is not a threat to the system, but rather a challenge to the State monopoly over money. He also explained why he believes that crypto will ultimately prevail over government attempts to control it.

The Fight Has Just Started

Voorhees acknowledged that crypto has been facing unprecedented pressure in the U.S. recently, with several agencies cracking down on various aspects of the industry. However, he said that this is not a sign of a coordinated attack, but rather an opportunistic reaction to some of the scandals and frauds that occurred in the crypto space last year.

“They see it as sort of this scammy area where they can come in and look like the hero for cleaning up a mess,” he said.

He added that the U.S. authorities still don't see crypto as an existential threat to the fiat system, and that they are mostly concerned about tax evasion, , and terrorism financing. He said that the real fight between crypto and governments will start when crypto becomes mainstream and challenges the State's monopoly over money.

“At that point, it will be too late for them to crack down on it because too many people will understand its and utility,” he said.

Why Crypto Will Win

Voorhees expressed his confidence that crypto will ultimately win the battle for the hearts and minds of people, in part because it offers a superior way of moving and storing value. He said that crypto is free from the friction and restrictions that are present in traditional systems, such as capital controls, censorship, , and intermediaries.

“Capital goes where friction is least […]. In the crypto , capital moves freely, it moves effortlessly,” he said.

He also said that crypto is more aligned with human nature and values than fiat money, which is controlled by central authorities and manipulated for political purposes. He said that crypto empowers individuals to have more control over their own money and to participate in a global and open financial system.

“Crypto is more honest, more transparent, more fair, more inclusive, more peaceful than fiat money,” he said.

He concluded by saying that crypto is not only a technological , but also a social and political movement that aims to create a better world for everyone.

“Crypto is a challenge to the State monopoly over money, which is one of the most important and powerful things that we can do as humans,” he said.

Emily Lee

By Emily Lee

Hi, I’m Emily Lee, a writer at avangernews.com. I love to write about technology, culture, and entertainment. I’m always curious about new trends and innovations, and I enjoy sharing my insights and opinions with my readers. I have a degree in journalism from the University of California, Berkeley, and I have worked as a freelance writer for various publications before joining avangernews.com. When I’m not writing, I like to read books, watch movies, and play video games. You can follow me on Twitter @emily_lee or email me at emily@avangernews.com.

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