- Harry Potter author J.K. Rowling has shown interest in Bitcoin in recent days, but does not “trust” the most famous cryptocurrency, despite numerous explanations on Twitter
- Cardano inventor Charles Hoskinson finds Rowling’s statements symptomatic, which is why he is asking leading crypto personalities to provide explanations
The inventor of Cardano and CEO of IOHK, Charles Hoskinson, has asked the leaders of the crypto industry to explain Bitcoin and its basics to the public. Hoskinson’s call is a response to Harry Potter’s author, J.K. Rowling, who has been talking about Bitcoin on Twitter in recent days. Rowling called on the Twitter community to explain Bitcoin and its advantages in a simple and understandable way.
In the end, the Harry Potter author was interested but not convinced by the explanations, although even crypto-personalities like Vitalik Buterin provided an answer. Buterin wrote:
It’s a digital currency. There’s ~18m units of it. It’s not backed by anything, it’s just valuable because it is, like collectibles. There’s a network of computers (which anyone can join) that maintains a decentralized global excel spreadsheet of how many coins each person has.
People find it interesting because there is no central authority that controls this network, so there’s no single group of people that can just go and issue more units to their friends or manipulate its rules for political reasons. Basically global digital payments, plus the store of value properties of gold, all with 21st century cryptographic tech to keep the whole thing running safely.
However, Rowling was not very enthusiastic about Buterin’s explanation, as well as others. In a tweet on Friday, she described her displeasure with the answers she received. She wrote:
I don’t think I trust this.
People are now explaining Bitcoin to me, and honestly, it’s blah blah blah collectibles (My Little Pony?) blah blah blah computers (got one of those) blah blah blah crypto (sounds creepy) blah blah blah understand the risk (I don’t, though.)
Cardano’s Hoskinson: Statements by Rowling are symptomatic
Charles Hoskinson responded to Rowling’s statement and made it clear in a YouTube video that J.K. Rowling’s statements are symptomatic for the crypto industry, which is why Hoskinson created a 42-minute explanatory video.
He also called on fellow leaders in the crypto-space to follow his example. Hoskinson said that most people have a misconception about Bitcoin. As a result, the most popular cryptocurrency is widely misunderstood and does not find wider acceptance in the mainstream. In the video, Hoskinson said:
I started with Bitcoin and started with something called the Bitcoin education project. The goal there was to try to bring as many people as possible into our ecosystem and to also dispel a lot of the common myths, fear, uncertainty, disinformation, and misnomers and things that have been cropping up. In 2013, there was certainly a lot of them, and unfortunately today there’s even more.
The reality is despite the fact that Bitcoin is pervasive with millions of people in our ecosystem and mainstream knowledge of it, very few people actually understand what Bitcoin actually is.