Bitcoin: What Bill Gates, Buffett, Elon Musk & Richard Branson has to say about Bitcoin?

the need to move money from place to place the cost of doing so the overhead as you put it makes me think Believe It or Not of Bitcoin because some people have said hey bitcoin is the answer to those problems are you a believer well bitcoin is exciting because it shows how cheap it can be bitcoin is is better than currency and it you don't have to be physically in the same place and of course for large transactions currency can get pretty inconvenient the customers we're talking about aren't trying to be anonymous you know they're willing to be known so McClane technology is key and you could add to it or you could build a similar technology where there's enough attribution that people feel comfortable this is nothing to do with terrorism or any type of money laundering so what does Buffett not like right now that would be Bitcoin he says that Bitcoin right now let's looks a little bit tulip like to him it's out of currency I mean it it does not need to test it for currency it I wouldn't be surprised if it's not around in 10 or 20 years why does it not meet the definition of a currency well because people say well I'll show you goods and bitcoins but they change the price of those every time the price of the dollar changes in relations but their pricing off the dollar they could say well I'll sell it to you in barrels of oil but if they time the price of oil changes they change the number of barrels you have to have that's not your oil is not the currency the other technology breaks Orwell's dictum it breaks Orwell's dictum by providing proof of publishing at a certain time and that is the intellectual underpinning of that whole system and can be used for lots and lots of other things and so that's the big expansion we're about to see in Bitcoin all the rise from this basic premise that you can prove that a particular statement a particular consensus a particular contract happened at a particular time globally and it requires the subversion of every single jurisdiction where people running Bitcoin to overturn that am i right in understanding that you're saying that the Bitcoin architecture has applications far beyond the economic role that Bitcoin can play and that that architecture is very strengthening to the life of information in the digital space making it less vulnerable to the kind of mischief you talked about in Russia or elsewhere that what you're saying exactly exactly that underlying architecture can be used for publishers for example so that as an example we are starting to use Bitcoin WikiLeaks stopping our cryptographic keys of stuff that we publish so we prove that we have probably stopped at a particular time by stuffing it in Bitcoin in the blockchain and then if someone were to come and try and modify the material that we have published to take out particular parts that would be detectable do you think Bitcoin will be disruptive in that way and we were now it's a speculative currency will it be something that will be what normal consumers would use and will disrupt the banking industry now my opinion of Bitcoin is that I mean I think what coin is probably a good thing but it's it's essentially its main I think the thing will be even that's probably good quoted in there but the it's it's like it's primarily going to be a means of doing illegal transactions but that's not necessarily entirely bad because you know you know some things should be maybe shouldn't be illegal so but the combination of Silk Road and Bitcoin will save us well it will be useful for legal and illegal transactions otherwise would have no value as a use of for legal transaction because you have to have a legal to illegal bridge I don't own any bitcoins in fact one can pay for a tour on Virgin Galactic up to the moon with Bitcoin I think the the Winklevoss twins have said that they would do exactly that this is a currency a currency that's really gonna work eventually I think it is working and there will be other currencies like it that may may be even better but in the meantime there's a big industry around Bitcoin and you know people have made fortunes at Bitcoin some people have lost many other Bitcoin it's volatile yeah but it is quite volatile but and but you know when in politic volatility people can make money out of politics why was it important for you to give it sort of that stamp of approval that endorsement by saying to the Winklevoss twins yes you can pay for the the ride with Bitcoin because I'm not foolish I mean if people have got lots of bitcoins and they want to go to space and I much rather they spent that money on our spaceship whether I keep this bitcoins is another matter they spend that money on a Virgin Galactic spaceship then on you know even we'll be sending people to space one day on Elon spaceship so we'll grab the money well it's well it's there Elon versus

You May Also Like