MtGox debacle won’t kill Bitcoin. And Bitcoin’s huge lead in network effect ensures that it can’t be displaced by new altcoins. It will become a base currency of civilization.
- 01:56 MtGox – Game card trading to Bitcoin
- 03:56 ACH connections; Grew without design; Was never prepared for rate of growth
- 07:40 API
- 10:00 Development of exchanges and transition to clearing houses; California gold rush; Transition from central authority’s fiat to people’s fiat (Bitcoin); Central authority required for gold
- 13:50 Move from exchange phase to clearing house phase; Clearing house businesses will be the big, long-term ones
- 19:28 Bitcoin is software – it adapts to attacks and can absorb new developments by altcoins; Creating cryptos is easy…becoming money is hard – requires network effect; Maxcoin is doomed to failure; MtGox may recover; First of three crises that pull together the geek culture
- 28:20 Financial crises in early adulthood scares a person for life; Occupy Movement; Bitcoin must evolve and grow at the expense of fiat currency; This scared generation will prefer Bitcoin over fiat
- 35:30 DOD connection; Brainstorming; Turbulent time extending to 2021 or so; Earth changes; Volcanoes and tsunamis; Decentralization wave along with degradation of fiat currency
- 39:10 Weather oscillations into Ice Age; New North Pole; Polar Vortex
- 45:00 Need for a Terra timeline forecast
- 47:25 Boat getting finished
- 49:45 Scourge of the bankers; Suicided bankers
- 54:35 GESARA, NESARA; Dinar
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