Bitcoin Jesus interview on his experience

Let us hear good experience with early adopters of Bitcoin , this guy is called "Bitcoin Jesus"an enterprenuer, i dont know why he is called Bitcoin Jesus but we are interested to learn from him . View his interview with RT and i will  list the main points he had delivered with the interview about bitcoin.

The interview was conducted by Sophia of RT RT is the first Russian 24/7 English-language news channel which brings the Russian view on global news.

 27 k I'm civil shevardnadze

0:05

dramatic spikes in Valley have field interest in bed going

0:08

the cyber currency phenomena messing a few dollars several years ago

0:12

could have major millions today there's trouble on the virtual market so is it

0:16

safe to invest your money now

0:18

are yesterday's on it because biggest enterpreneurs a man known as Big

0:22

quenches

0:23

Roger home

0:27

because I the world's most popular virtual currency his sporting a new

0:32

breed of digital multi million years

0:34

but when BT collins biggest exchange disappeared

0:38

millions of dollars of people's savings went missing

0:41

can you put your trust in a virtual market

0:45

what happens if somebody hacks digital money

0:48

and why government so we good to shut it down

0:52

and here we are with Roger very big could interpret I rejoice really great

0:57

to have you with us is joining us from Japan

1:00

now government's call be kinda financial pyramid

1:03

but you call it the most important invention since the internet y

1:07

becoming truly is one of the most important inventions ever in the entire

1:12

history of the world

1:13

it's the first time in the entire history the world that now

1:16

anyone can send and receive any amount of money with

1:19

anyone anywhere else on the planet and they don't need permission from a bank

1:23

or a corporation or even governments

1:25

that matter and you can send or receive any amount of money just like that

1:28

for a practically for free and nothing like that

1:31

ever existed before the entire history the world so it's really really exciting

1:35

to see this I just bombing in spreading to more more people around the world

1:38

but they could have been making the news lately because amount Cox one of the

1:42

biggest and older speak on exchanges

1:45

has virtually disappeared the chief is nowhere to be found the offices are

1:49

empty

1:49

I mean for many it does look like a very definition other financial pyramid

1:54

in action what happened there what what why why

1:57

why did it happen when to disappear casoulos we don't know all the details

2:01

yet but it's very very important to distinguish not docs from that point not

2:05

cox's just one particular company that's using that calling

2:08

it's not take on itself so if I it hotmail this appealed

2:11

a disappear tomorrow who wouldn't blame email we were just plain hot Beyonce we

2:15

should use happy anymore we can use Gmail or Yahoo or any other e-mail

2:18

service providers

2:19

and it's the exact same way with alcock not doctors had some problems but that

2:22

doesn't reflect

2:23

I'm back on itself as a whole so back on itself has no problem whatsoever

2:27

and is still being used by millions of people around the world I feel horrible

2:30

for all the people that happen in our cocks mass but thats

2:33

not cox's problem not be quite a problem towards a guarantee that what happened

2:37

with him and cox-1 happen to gain

2:39

on there is no guarantee that that won't happen again but

2:43

I if you hold you back on yourself you can have the control in your own hands

2:47

we don't have to trust

2:48

some other company that they won't get hacked or bad things won't happen

2:52

on there's all sorts and open source software tools like botching not impose

2:56

the one that I use myself

2:57

recommend you hold you back on yourself you don't have to ask permission from

3:01

anybody else you have

3:02

all the information that's required to spend your b Collins

3:05

without needing to trust rely on anybody and

3:08

I think that's the real way to go if you're going to be using the kind my

3:11

advice to you is holding yourself

3:12

in your own back on wall it rather than trust them with somebody else but what

3:16

do you mean when you say holding because yourself didn't people lose money and

3:20

at the disappearance among Cox did they lose to be klein's

3:24

they did but that's because they were

3:27

they were allowing now Cox to hold their big points for them on their behalf

3:31

and wall now Cox is holding their pecans for them they have to trust the mailbox

3:36

is going to lose them

3:37

and in this case now Cox wanna it appears to have lost everybody's good

3:40

point and that's the problem

3:42

but all the people that were holding their because themselves and their own

3:44

wat

3:45

had no problem whatsoever and and they still have all their backline so

3:49

I think the real lesson to be learned from non-toxic incident is to hold you

3:53

back Collins

3:53

in your own wallet yourself and only send them to be quite exchange

3:57

attractively going to be training with them

3:58

well I'm Leyland like you said there's no guarantee that what happened among

4:03

Cox what happened to gain so here's my question

4:05

that day I'll if I lose my cash in real life raid I can go to police

4:10

I consumer bank right there's a higher instance that I can complain to

4:14

big corn is not regulated by anybody or anything what happens if you lose your

4:18

bitcoins where do they go could you

4:20

ever get them back could you complain to someone about that

4:24

on to be honest with with your cash I

4:27

I think if you go to the police to not good girl I can help you

4:30

army know what I'm saying I don't think theoretically there's always a higher

4:35

instance that you can complain to you I'm and in case a big point because it's

4:39

not regulated by anyone or anything I'm just wondering like

4:42

can I sue someone do you know what I mean

4:45

yeah i i don't think it's necessarily fair to say the Connors unregulated

4:48

there's all sorts of laws that are planned but concurrently as well

4:51

arm but look at the people that know had money in the banks in Cyprus of a sudden

4:55

the government there change the rules on them and they lost a percentage of their

4:58

bank accounts

4:59

and there's not really but if they can go to combine with either with that

5:02

point if you're holding their own wallet

5:04

there's there's nobody that can affect us because you know what you have

5:06

complete control over them

5:08

and that's a much much much better position to be in the know if you're

5:10

keeping your bank

5:11

you money in a traditional bank or financial system because if something

5:14

happens there

5:15

yeah you can complain about it but in reality you're probably not gonna be all

5:18

have much affect

5:19

in why is the number I've been quite limited to 21 million

5:23

can that number ever grow

5:28

that number cannot grow its hard coded into the code itself

5:31

and that's one of the most attractive aspects and pecan with US dollars or

5:35

Euros or Japanese yen

5:36

the government's can print as many of them as they wanted any time for any

5:40

reason

5:40

and that makes all the savings that the non-white people have worth less

5:44

with a bit quiet because that cannot happen the price a bit coins in terms of

5:48

dollars or Euros arian

5:49

will have to constantly increase year after year as more and more people start

5:52

using it as a currency so for example

5:55

I got into decline a little over three years ago when I first heard about the

5:58

call in there are less than a dollar today there around six hundred dollars

6:01

on and in the future if they become really popular and used all over the

6:04

world

6:05

like it looks like it's going to happen I each single bitcoins going to have to

6:08

work at least tens of thousands of dollars

6:11

if not you know maybe even a hundred thousand dollars or more for each one

6:14

single back on that today is worth around six hundred dollars

6:17

and we're releasing lots lots abortions get on board and overstock.com is one of

6:21

the largest

6:22

shopping web sites in the entire United States they're accepting the comment

6:25

directly

6:26

the CEO's gone on record saying that they're not converting the coins into

6:29

dollars

6:29

and their plane ticket to spend a portion of the college they receive to

6:32

pay their suppliers

6:34

I'm with my previous business I still play a suppliers and China

6:37

all the time with the coin and it's just us so much more convenient

6:41

to send or receive money with the clinton is with any other payment system

6:44

that ever existed before

6:46

in history the world nothing like that's existed into the best ways for people

6:49

that understand the contest actually going to use its I would recommend

6:52

people go to

6:53

WWW dot blot chain da tempo and make a free water doesn't cost anything

6:58

you don't even have to give your email address if you don't want to and then

7:01

you have a pic on wall that's 100 percent completely in your own control

7:04

and you can then send or receive money with anyone anywhere else on the planet

7:08

and you don't have to ask permission for anybody you don't have to sign in terms

7:11

of service it just works

7:12

Roger G have any kinda other money on your date you ever use

7:16

like any hard currency are you only use bitcoins with everything

7:20

yeah actually arm in in my computer bag sit next to the set here

7:24

I have Japanese he and I have US dollars I have british Pounds and Korean Won I

7:29

have Chinese army

7:30

and have all the stupid piece the paper that I have to sort out every time

7:34

I travel from one country to another it's so incredibly inconvenient to keep

7:37

track on which

7:38

you know piece a paper that people have been using for 100 years as money I have

7:42

to use at the particular geographic area I'm in

7:45

with a call and I just bought my cell phone it doesn't matter what country I'm

7:48

and it just works hope it points from that perspective

7:50

are certainly much much much more convenient and other types of peace the

7:54

paper

7:54

I still have to carry around with me I look forward to the day I don't need to

7:57

carry those pieces a paper round with me anymore

7:59

the casket something I'm trying to figure out the technicalities abusing

8:03

bitcoins

8:03

out like nowadays I'm not saying in fifty sixty years

8:06

what exactly can I buy with bitcoins I'm can I travel with them can I pay for

8:11

college

8:12

go to brand name stores for example pay mortgage something you like if I want to

8:16

become a

8:17

biklin millionaire the first thing I wanna do is lie go on a shopping spree

8:22

shiran I think at this point a better question is what can t buy would be

8:25

calling

8:26

sofort example I just flew into Tokyo a couple days ago from the US

8:30

I bought my plane ticket on cheap air dot com with that calling

8:34

when I was visiting US I page my hotel stay in but calling

8:38

I'm you can buy rights and outer space with the corn you can buy just about

8:41

anything you can think I've a with the coin at this point so I

8:45

the real question is what can you buy with equine that's akin to go to stores

8:49

like

8:50

I don't know brand name stores can you pay for college would consider something

8:54

that's already

8:55

in store sure ever ever University doesn't accept pic on yet but there's a

8:59

number of colleges that already do

9:01

there's a whole bunch of physical real-world locations that you can spend

9:04

the comment that %uh there's a great website called

9:06

quite map dot org and you can see all search locations near you that allow you

9:10

to spend because in their physical shop

9:12

are bitcoins primarily in online currency so there's

9:16

price hundreds of thousands of web sites around the world that accept pic on

9:18

Strictly at this point so

9:20

as far as online Glasgow you can't buy just about anything

9:23

at their is something that you can't by with the class tracked leaders also to

9:27

be quite exchanges

9:29

that will let you exchange pecans back at your local currency in New while

9:32

it would never do that that's my next question how can be quite be exchanged

9:36

for hard currency

9:37

how does that happen get the same way as if you had a goal calling her a probar

9:42

goal you would I find a gold exchanger and you were given the golden they would

9:45

give you the

9:45

local fiat currency it's the same way with that kind there's another great

9:48

website combat calling charts dot com

9:51

and you can see listings probably over 100 different take on exchanges around

9:55

the world at this point

9:56

that'll exchanger local fiat currency to or from that point

10:00

if you're in the US there's a great company called corn-based art.com

10:03

you link your bank account to their website just like you would with that

10:06

your Pay Pal account

10:07

and I'll debit dollars we're counting give you but Collins or you can send the

10:10

comments no deposit dollars right into your bank account

10:13

and they just charge a a few that's a small fraction were paid our charging

10:17

and I it's a fantastic website and really community news

10:20

but my advice to everybody is a if you use that website to buy or sell bitcoins

10:23

store the declines in the wall in which you control the keys

10:27

from what I understand you can also create your own bitcoins right through a

10:31

process that's called mining

10:33

I mean and that would imply a certain knowledge

10:36

I've mats or a technological knowledge

10:40

I'm says in a system limited to computer experts

10:43

only here on what I generally tell people in regards to get quite mining

10:47

is that you can kind of think of it as the same way if I as gold mining

10:51

technically you could probably go up in the mountains and dig around in Dixon

10:54

gold over the mountains

10:56

but your time is probably better spent doing a regular job and then convert

10:59

whatever Trevor money you're using a regular job in debate Collins

11:02

just as if you want to go or he would probably just buy it rather than go on

11:05

an outstanding Fort

11:06

but if you're inclined there's all sorts for information on the internet you can

11:09

read about all the specialized hardware that people are building

11:12

to mind the Collins one thing a lot of people don't realize about pat Quinn

11:15

mining is a

11:16

in the next year they'll be somewhere around a billion

11:19

dollars worth a bit Collins created which means that people would be willing

11:22

to spend

11:23

just under a billion dollars to mind those pecans to the big quite mining

11:27

industry is about a billion dollar a year industry at this point and it's

11:30

only gonna grow from here

11:31

so basically it's kinda funny because it comes down to

11:35

industry have two kinds of people do really smart ones took in mind their own

11:39

bed clines are the rich ones who can buy

11:41

the coins right on there's lotsa people that that work for the consummate their

11:46

salary paid in decline

11:47

on there's more more that sort of thing going all over the world and I think in

11:51

the near future we'll see lots lots of people

11:53

receiving their their salary and the coroner the company that i'm involved

11:55

with the most heavily is called watching the info

11:58

every single employee gets paid 100 percent in the calling

12:02

we have no bank account we don't have high anything other than the coins

12:05

and it works wonderfully power bill leaders in the coin everybody's happy

12:09

to be to running the life that way and it's really convenient

12:12

Roger that take a short break we'll be back with roger for a bigger proponent

12:16

and businessmen to talk about the dangers that investing in a crypt a

12:19

currency can bring

12:20

stated on

12:23

home

12:41

and we're back with roger bird the crypt occurrence and her partner known as

12:45

be calling juices how does that make you feel it here invested in 2011 the IQ

12:50

mentioned in the beginning

12:52

11 big point was worth one dollar how does one become

12:56

became a millionaire and how quickly did that happen for you arm

13:00

that's that's a little bit personal I suppose but if you buy

13:04

even if you buy at the cinema because now I think there's a real good chance

13:07

that they're

13:07

continue to go up substantially from are they right now because as we're seeing

13:11

more more web sites all over the world are starting to use becoming more more

13:14

people are already using the coin

13:16

arm for example the the website done involved with again at the beginning of

13:19

the year

13:20

we had jazz right around million users exactly

13:23

I at January 1st now have over 1.3 million users and it's only been two

13:27

months so I

13:28

I think by the end of the year there's a good chance we'll have some around 10

13:31

million users

13:32

so I the more people that use bitcoins because the supply is limited to 20

13:37

1,000,000 there can never be more than that

13:38

as more more people start using the price at that point in terms of dollars

13:42

will have to go up

13:42

and in the future if you buy some the quince now there's a real good chance

13:47

that we work a lot more in the future I know

13:49

person with my the comment I want to hold onto as many of them as I possibly

13:52

can

13:52

because I think that I will continue to go up but that's not the real

13:55

main reason to get involved with the coin just as an average person

13:58

there much much easier to use if you want to send money to people that aren't

14:01

standing right next to it is cheaper and faster and easier than any other system

14:04

that's ever been devised

14:05

in history the world but a

14:09

but also I'm thinking I'm thinking can you become a millionaire quicker

14:12

investing in be callin stand a regular guy who is investing in bonds and

14:17

stocks yeah um my

14:21

my goal isn't to promote be calling as an investment scheme

14:24

but if you ask me directly as that yeah I think

14:28

I made a bet to a little over two years ago that the Collingwood outperform gold

14:33

silver and the US stock market by more than one hundred times

14:37

night at ten thousand dollars the time I said that the I said they would do that

14:40

over the next two years

14:42

and in fact he didn't do that over the next two years

14:45

it took a hour two years and two months so in two years and two months I took

14:49

the ten thousand dollars that

14:51

worth a bit Collins that were that I but at the time it at that in two years and

14:54

two months later that ten thousand dollars

14:56

was worth over I'm are 1.1 million US dollars so in two years

15:01

it went from ten thousand dollars to over 1.1 million dollars

15:05

and I donated all those to the foundation for Economic Education

15:08

which is a exactly what the name says it's a foundation that educates people

15:12

on economics

15:13

and because their books and articles to read when I was younger that allowed me

15:16

to understand

15:17

just how amazing because I was going to be and I i

15:21

I'm definitely been proved right at this point it's getting more more popularity

15:24

and more more people are starting to use it

15:26

and I think we'll see some similar increases to that over the next two

15:28

years as well

15:29

but because valujet im so up and down so drastically

15:33

in a space in the week how can you trust something that is so unstable and

15:37

volatile I'll

15:38

arm it does jump around and that's because the market cap is still so

15:42

incredibly small

15:43

arm as pecan becomes more popular in the market cap is larger

15:47

the the stability above because it will increase

15:51

too can you loan or borrow money within the beacon system

15:54

sure people are borrowing more money all the time with the coin there's all sorts

15:59

of markets for that there's all sorts of trading and

16:02

and things like that going on with bitcoins makes it incredibly easy to

16:05

love someone you know one dollar work the corner one million dollars worth at

16:08

that point to or from anywhere on the planet with people they trust each other

16:11

and there's all sorts of interesting technological things that people can

16:14

deal with it going

16:15

called multi signature transactions so for example if

16:18

some pecans are sent to a particular but congress you can have it setup so that

16:22

three separate people control their address

16:24

and any to have those three can can spend the big pointy can set up altered

16:28

esker systems and all sorts of interesting things

16:30

to make it much much safer for people to use our loaner borrow

16:34

the contest so there is some kinda regulation within the system

16:38

it's not completely unregulated so

16:41

bit coin itself is regulated by the laws of mathematics

16:45

and those are the same anywhere in the universe and cannot be changed I

16:48

men King on pass whatever loss they want but that doesn't change the laws of

16:52

mathematics to

16:52

at the end of the day politicians will pass whatever laws they want but that

16:56

won't change the way back when itself functions

16:58

and people just choose whether or not they personally want to follow those

17:01

rules regulations for the college that they're using

17:04

but be kind is a piece of computer code like you said it's regulated by

17:09

laws mathematics where does its market value come from

17:14

its market value comes from its utility because be colin is so incredibly useful

17:18

to use as money

17:20

people just spontaneously started using it that way and as more more people

17:23

start using it that way it has even more more by

17:26

because there's more people you can trade with the coin with and because the

17:29

supply is limited

17:30

anytime you have a demand for something with a scare supplied the price is going

17:33

to be set by supply and demand

17:35

and the demand has been increasing year after year in the supply staying about

17:39

the same

17:40

so the price has been increased to accommodate that additional demand I

17:42

think really clearly we're going to see that continue to happen

17:45

over the next couple of years as well but but it's still only a computer

17:49

programmer and

17:50

bacon exchanges have been coming under massive cyber attacks from

17:54

unknown sources things behind them

17:57

I don't know I don't have an opinion people going hack things and do bad

18:01

things on the internet all the time

18:02

I'm sure there's lotsa people that have various more motivations for that

18:06

I'm not one of them so I don't really have an opinion as as to what they're

18:08

doing but I'm confident that to

18:10

lots of smart good people out there will find ways to deal with the cyber attacks

18:14

and cut its not be a problem for normal people that just want to use the

18:17

internet

18:17

or just when teams declines but but at this point still a big danger though for

18:21

those who think that because hacker proof because it's so heavily cryptid

18:26

sherbet made quite as dangerous don't put all your eggs in one basket don't

18:29

put your entire life savings into the coin

18:31

but if you're careful about what you're doing and use strong passwords and use

18:34

get proper

18:35

computer security you can use because very very safely

18:39

to send basically any amount of money anywhere in the world

18:42

I so if you're careful with what you're doing you can use biklin safely

18:46

it's not ready for your grandmother to use yet but lots lots have a really

18:49

smart computer programmers

18:51

are working on this offer tours that eventually will make that kind easy and

18:54

safe enough for your grandmother to use

18:56

but I guess with all the perks that bring pecan brings

18:59

I'm terror is a side effect the system clearly facilitates crime

19:04

you can buy drugs are miss your payments will be in traceable

19:07

it's very accessible its quick admit only sing obvious that somebody needs to

19:11

control

19:12

that part least everything you just said

19:16

applies equally to cash so on I don't see because it being any more disruptive

19:20

or destructive in that sense

19:22

in cash people use cash to buy drugs and guns and carriers and whatever else you

19:26

want

19:26

on yes some people do some bad things will be calling but that doesn't mean

19:30

that the rest the world should be deprived from the ability

19:33

to being able to send any amount of money to or from anyone anyone on the

19:36

planet

19:37

almost for free and that's a wonderful wonderful thing that's going to improve

19:40

the lives of

19:41

literally billions of people across the world and just because some people might

19:45

do some bad things

19:46

isn't any sort of reason to try and delay or squash a hold back this

19:49

wonderful invention that's going to improve

19:51

to live just about everybody well on asking is that

19:55

if you come up with a virtual currency carmen cocks really do anything about

19:58

that because it's not against a lot you're not breaking any law

20:01

but if this wonderful on virtual currency

20:05

at facilitates crime this is something that government

20:08

can declare war on be calling for do you know what i mean this could be a reason

20:13

for a crackdown on pat Quinn at at the end of the day

20:17

people wearing costumes and shiny badges can do whatever they want but it doesn't

20:21

make it right and it doesn't mean that they have to

20:23

the moral authority to do so in the last century alone governments rounded up

20:27

more than 250 million

20:29

innocent people and executed them so at the end of the day I'm not really

20:32

critically interested in what the politicians think

20:35

and that's one of the things that had me so excited about that point is that it's

20:38

technically technologically beyond the control politicians

20:42

and I all in all it can be a wonderful wonderful thing is gonna live so many

20:45

people out of poverty

20:46

all over the world and the politicians try and stop that

20:49

that's on them that's them committing evil trying to prevent people from

20:52

improving their situation in the world and I want no part of that whatsoever

20:56

know about all I'm saying like no one's doubting how wonderful but kindness

21:00

I'm actually very excited to start using it myself i'm saying is that

21:04

I'm you know facilitation at the crime which is

21:07

obvious in case a big point I'm it could be a reason

21:11

enough for the government to actually officially come after me point

21:16

cabinet maybe they well but to I disagree with their suspended that's

21:19

what they should do and

21:20

to all arguments that you previously gave up label in cash

21:25

I'm alright I'm so what does it mean when people say that be claim payments

21:29

are

21:29

irreversible can explain that

21:32

it's actually very similar to cash if I hand you you know hundred-dollar bill

21:36

I and it's in your hands the only way for me to get back is to ask you for

21:39

to send it back to me and because the same way if I send you some pecans the

21:43

only way for me to get back would be to ask you to send it back to me

21:46

and that's very different ending credit cards or checks bank wires in which

21:50

you can call it the credit card company you know months and months later

21:53

and sale Houston my money back I didn't buy that I change my mind or whatever

21:57

reason

21:58

with pecan 16 at the coins that's it that the transactions done

22:01

it's over wouldn't that have consequences for business like

22:05

wooden people wouldn't be easier for paper to lie

22:08

to other people that making business with like if he

22:12

iffy if they transaction is irreversible

22:15

likely we have also to tools to deal with that sort of thing so they've

22:17

offered to online escrows

22:19

there's all sorts about in basically anytime you're paying a company in which

22:23

you trust so let's take amazon dot com for example

22:25

if you pay with a credit card the credit card companies gonna charge around three

22:28

percent fee

22:29

if you pay with that kind there's basically no she so amazon has a3

22:33

percent saving right there

22:34

I think about I I'll protect actually I'll go out here in camera I'm gonna

22:38

predict

22:38

that Amazon dot com is going to be accepting be calling by the end of this

22:41

year

22:42

and I think not too long after that all the different businesses that are

22:46

accepting the coin

22:47

I think they're gonna have to start offering a discounted for people to

22:49

paint the condo for credit cards

22:51

so I made to the law for one percent discount all the people that pay with

22:54

the card will get a one percent discount

22:56

an Amazon will save another one or two percent of the credit card processing

22:59

fees

22:59

and everybody's happy and a in regards to you're paying with with the coin and

23:04

chargebacks

23:05

if you pay Amazon you know that if there's a problem they're gonna do the

23:08

right thing they're gonna give you your money back

23:10

there's an issue to make a refund send you another product I'll take care of it

23:13

I in the future if you're paying for some business that you're not so sure

23:16

about if you if you trust you not

23:18

maybe you'll still want to use a credit card I'm not predicting the credit cards

23:21

are gonna go away completely

23:22

but I am predicting that because it's going to become the predominant form of

23:26

payment online

23:27

but do you think that kind will ever replace national currencies

23:31

I'm hoping into it depends on what sort of fiscal policy government ap

23:35

it for government sir are restrained in regards their money printing and

23:38

quantitative easing

23:39

to maybe there's not as much of a need for be calling but if governments

23:42

continue to just print money like crazy

23:44

and devaluing their currencies all around the world people are figuring it

23:47

out real quick with that kind that sort of thing can't happen and people are

23:50

gonna just

23:51

flood to want to use the constant dollars a year zairian

23:55

alright roger thank you very much for this very interesting insight we're

23:59

talking to roger for one of the biggest decline investors

24:02

we're talking about the future a big guy and how more more people will be using

24:05

it but we have to be smart about it maybe not put

24:08

all our eggs in one basket past have now things with an interview that's it for

24:12

this edition of seven Coliseum next

24:14

I'll

24:30

by

Some Dominant Points from Roger Ver about Bitcoins 

A.  Government callled bitcoin a Pyramid but Roger Ver called it the most important invention ever in the entire history of the world.  It is just now with "bitcoin" that anyone can send and receive money of any amount with anyone anywhere else on the planet that dont need the permission from a bank or a corporation or even governments.

B. Mt. Gox disappearance is like the very definition of financial pyramid . what happened ask by the interviewer?  We dont know all the details yet but its very important to distinguish Mt. Gox which is one particular company using bitcoin.Just like hotmail , if it disappeared tomorrow should we blame email but there are other emails to use like Gmail or Yahoo or any other service providers.  After Gox it is still being used by millions of people around the world.  There is no guarantee that it wont happen again as with MT. Gox.  The lesson from Mt. Gox was that people should keep the bitcoin on their own wallet and not let others hold it for them. Just like Mt. Gox people let Mt Gox hold their bitcoins with Mt Gox wallet. 

C. There's all sort of laws that are planned but concurrently as well arm but look at  the people that had money in the banks of Cyprus of a sudden the government there change the rules on them and they lost a percentage of their bank accounts. In Bitcoin you are holding your own wallet, theres nobody that can affect us because you know what you have complete control over them.  Thats a much much better position to be in the know if your keeping your bank. If something happens your money in a traditional bank or financial system if something happens , yes you can complain about  but in reality theres not much any effect.

D. Bitcoin been quite limited to 21 million which cannot grow , its hard coded into the code itself and thats the most attractive aspects and compared with US dollars, Euros or Japanese Yen, the governments can print as many of them as they wanted any time for any reason. That makes the non white people have worthless , but with a bit it cannot happen the price of bitcoins in terms of dollars or Euros.  It will have to constantly increase a year after year as more people start using it as a currency.

E. I got into decline a little over three years ago when i first heard about the bitcoin, there are less than a dollar today there around six hundred dollars on and in the future if the become really popular and used all over the world , looks like its going to happen each single bitcoins going to have to at least tens of thousands of dollars. 

F. Anyone can open a bitcoin wallet and try it. National currencies is such a huge outdate hassle bitcoins is faster and universal.  Bitcoins could be use to buy flight tickets , pay tuition fees, and hoters . If this are not available with establishments you can exchange bitcoins with local fiat  currencies, just like  gold and silver

G. Just like gold its easier for regular folk to buy bitcoin then to mined it. But if you really want to learn about mining bitcoins there are lots of information on the net to know about mining bitcoins. There are also companies that are already paying their employees with bitcoin. Bitcoin is outperforming gold and silver US Stock Market by 100%

H. Digital nature of bitcoins allows for easy borrowing and load of safety features. Bit follows the laws of mathematics and does not depend of government laws. Value of bitcoin comes from its utility , growing demand limited supply. If  users are careful they can use bitcoin safely despite hacking danger.  Bitcoin no more destuctive than cash has a much better effect on society.
Politicians cannot control bitcoin technologically even if they wanted to . Amazon will take bitcoins by the end of 2014, there will be bitcoin discounts 

I.  If governments would go on with bad fiscal policies then bitcoin will replace national currencies


( If interested to try bitcoin used my link to start with bitcoin , first you need a wallet then generate your bitcoin .On this blogsite link  GET BITCOINS MINE TRADE  you can go to Blockchain for your wallet and start generating bitcoins with sites giving free bitcoins every 30 min, one hour or daily . There are also links for exchange, mining and trading. )  THE BEST WAY TO UNDERSTAND BITCOIN IS TO TRY IT