"Bitcoin needs to be very conservative," says Erik Voorhees

24 Mar, 2019
by Richard Allen
Bitcoin needs to be very conservative, says Erik Voorhees

In a recent interview with Peter McCormack, ShapeShift CEO Erik Voorhees spoke about the most important things that need to happen for Bitcoin and the cryptocurrency industry as a whole, AMBCrypto reports.

Voorhees stated that both fungibility and Lightning Network were important developments for Bitcoin in terms of technical aspects, but an exchange-traded fund (ETF) was crucial for the entire crypto industry.

“All of those are important to my opinion and that’s why I like to see all the experimentation that’s happening. Bitcoin needs to be very conservative and it can’t try out every new idea and it can’t optimize for every variable,” he said.

He added that Bitcoin can’t be the “most innovative” and the “most conservative” cryptocurrency at the same time, adding that “they’re mutually exclusive.”

Voorhees further stated that other chains shouldn’t be dismissed purely because they’re less decentralized than Bitcoin, stating:

“I think that there should be chains that are more centralized and with higher throughput and there should be chains that are less centralized with less throughput and having both of those in existence actually makes the whole crypto ecosystem stronger and in both cases we’re still vastly better off than any bank.”

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