Smart Valor CEO Explains Why She Believes Miners Will Not Manipulate the Bitcoin

Recently, Olga Feldmeier the CEO of Smart Valor was interviewed about regulations and how crypto is helping to democratize wealth globally. Olga began the interview by stating that she grew up in Ukraine.

She said that hyperinflation ruined her family. According to her, they lost everything and did not have money to purchase even basic needs.

Olga On The Blockchain And Crypto

According to Olga, if you have experienced what she did, you will understand the full power of a post-national currency. Much of the talk amongst the rich on crypto is about institutional investors and how the banks and the governments can utilize the blockchain.

However, Olga pointed out that in two-thirds of the world, inflation was a major issue. She stated that rich people had ways to protect themselves. For instance, they could use offshore banking. In this world of finance, safety is only offered to a privileged few.

Olga On The Bitcoin

Olga thinks that the Bitcoin is the answer. She stated that Bitcoin and decentralized money ensures everyone is on a level playing field. Olga Feldmeier went on to state that if you bought one or two Bitcoins, you could remain protected from inflation at home.

However, she claimed that the main issue with Bitcoin was that it was not legal tender. The result is that most mainstream financial institutions do not want to be associated with it.

Miners Will Not Compromise The Bitcoin Network

Olga also shared her thoughts on the Bitcoin network and mining power. She said that about two years ago, this issue worried her a lot; she would constantly check to see which pool was growing and if it would hit the 51% mark. Olga lived in fear that she would lose her coins if this happened.

However, the system comes with certain incentives. Thus, it would not be in the interest of mining pool to manipulate the network. All the miners depend on the value of Bitcoin being high and the network staying alive.

If they collude to kill the network, the Bitcoin could hypothetically drop to zero. After that, a new network will emerge. All the energy they used to mine Bitcoin would have gone to waste.

On The Issue Of Regulation

Olga also spoke about regulation. She acknowledged that various regulatory measures were being developed. This development is great according to her. The more countries that create a legal framework, it will encourage the large economies to look at crypto in a positive light.

According to Olga, there are three groups of countries in the regulatory landscape. The first one is small countries, which have a great reputation in the financial sector. Switzerland and Singapore are good examples, which have embraced and regulated crypto.

The second category is of those nations with a shady reputation. A good example of these nations is Bermuda and Malta. The third category of nations is large economies such as Japan and the US. The US continues to get tough on crypto, while Japan is actively creating a legal structure that will allow crypto to function.

Olga concluded that a Bitcoin company should know these categories when establishing itself.