#Cardano founder Charles Hoskinson has criticized the US SEC for not considering bitcoin a security, thereby giving bitcoin "full discretion" unlike other cryptocurrencies. During a recent stream, Charles Hoskinson called on the cryptocurrency community to explain to him the difference between Bitcoin and Cardano. According to Hoskinson, Bitcoin is not as decentralized as the US Securities and Exchange Commission (SEC) believes — more than 51% of the hash rate can be controlled simply by suing the three largest mining pools.
"Pretend I'm a five-year-old kid and explain to me the damn difference between Ethereum, Bitcoin, Cardano and other crypto projects. Take Howie's test," Hoskinson fumed.
The general director took part in the discussion#Blockstream Adam Back (Adam Back). He told Hoskinson that the main reason why the financial regulator does not consider bitcoin a security is that the project did not conduct an initial coin offering (ICO). “Bitcoin has not done an ICO. Most people thought he had no value. It was mined from scratch, it is decentralized, the project does not have a CEO. It was ICOs that caused regulators to require crypto companies to register. Therefore, ADA, Ether, and other cryptoassets are considered securities under the Howie test. And bitcoin is a commodity," Adam Beck wrote on the social network H. Hoskinson replied that Cardano also did not conduct#ICO . According to him, the project simply conducted a coin distribution, and then thousands of people who had never met each other began trading ADA on cryptocurrency exchanges and using the Cardano blockchain for their projects.
#radionovcrypto $ADA
