Interviewed on Bitcoin and the Mt.Gox Collapse

Quoted slightly out of context so let me put my full thoughts here.

I said that bitcoin is an idea that has gained traction because enough people have accepted it, assigned it value, and allowed it to become a medium of exchange. I also said that it has gained traction as a result of the fallout from the financial crisis and a certain subset of society becoming disillusioned with governments and their handling of the crisis.

However, because of the lack of regulation I am not sure if governments will let bitcoin grow. As long as it is a sufficient minority (and don’t ask me what is sufficient) it will be allowed to continue. Once it reaches some level of critical mass, I do believe it will be curtailed. I am not sure if it will ever reach that level, though.

Here’s the interview:

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