Bitcoiners support ETFs to get rich: Bitrefill’s John Carvalho

John Carvalho, CCO of Bitrefill, has been a strong advocate of the crypto-space for a long time, having supported Bitcoin’s growth since it was first traded at $10. Carvalho recently shared his views on Bitcoin’s ability to take back power from the government, while highlighting how his interactions with the government authorities was indicative of the powerlessness of normal citizens. He said,

“When you now have money that nobody can stop you from using, you feel like you can take your power back and feel more free.”

Speaking about the Bitcoin blockchain and the Lightning Network, Carvalho stated that growing the Lightning Network will be difficult without growing the Bitcoin Network as a whole. Although the present ecosystem is falling short, the entrepreneur suggested that the upcoming Bitcoin halving in 2020 will reinvigorate blockchain development. “Bitcoin never dies,” he added.

Carvalho went on to claim that Bitcoiners support ETFs because “they want someone else to make them rich.” Claiming that Bitcoin is not about getting rich, Carvalho highlighted how Bakkt’s entry into the crypto-space did not have any effect on freeing up liquidity. This reflects the overall stability of the ecosystem and its inability to get manipulated by external factors, the Bitreffil CCO said.

Further, the entrepreneur stated that there is no way to “separate freedom from freedom to do bad,” adding that addressing bad actors in the space” should not be done via the restriction of tools. Hinting at the involvement of private corporations such as Facebook in the crypto-space, Carvalho said,

“The concept that Libra might be ever a good replacement, or be better than or similar to Bitcoin. These are all confusions we’ll end up having to undo later.”