796 Exchange Zhu Rong: Bitcoin Needs No Supervision from Mainstream Society

Supervision does no good to bitcoin despite most people think supervision is a necessity for bitcoin to go mainstream. In my opinion, Bitcoin doesn’t need any supervision required by the mainstream society, and of course, I’m not saying it doesn’t need rules too. Rules should be a truth that the fittest survives. However, direct supervision will make bitcoin lose its features, and eventually becomes “Q-coins’ with big price volatility.
‘Bitcoin is supposed to be an independent foreign exchange, a foreign exchange can trade, cash and transfer at any time, and plays a good role in certain range.’ I personally reject that kind of voice very much, because the existence of bitcoin doesn’t make too much sense in that way. To be an independent foreign exchange calls for huge market to support its distribution and stability, and there will come various derivatives naturally. Meanwhile, different problems will come out, thus constant improvement and innovation will required. Ultimately, the formation of a complex, large, and high-quality trading network will be the largest stabilizer for the existence of bitcoin.

This post was published at Bitell on October 21, 2014.