Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

GATA appeals to the new Shareholders Gold Council
By: Chris Powell

A Constructive Suggestion
By: Theodore Butler

Gold Exodus to Reverse
By: Adam Hamilton, CPA

Trade War vs. Commodities
By: Louis James

GATA asks CFTC if market rigging by U.S. govt. is legal
By: Chris Powell

Is This Time Really Different? Fed Tightening and Gold
By: Arkadiusz Sieron

Are You Blind To What's Really Going On In The Market?
By: Avi Gilburt

Dow 40,000? Not According to My Charts
By: Richard (Rick) Mills

GoldSeek Radio Nugget: Professor Raymond Moody M.D. Ph.D. and Chris Waltzek
By: radio.GoldSeek.com

Gold Seeker Closing Report: Gold and Silver Gain Again
By: Chris Mullen, Gold Seeker Report

 
Search

GoldSeek Web

 
Mt. Gox’s Downfall Shows the Power of Creative Destruction: Erik Voorhees Interview


 -- Published: Wednesday, 19 March 2014 | Print  | Disqus 

By Casey Research

Bitcoin evangelist and Coinapult Cofounder Erik Voorhees gives us his thoughts on the demise of Mt. Gox and losing nearly $300K in Bitcoin… why cryptocurrency exchanges are a threat to government and the banking industry… what really happened with China’s “ban” on Bitcoin…and advice for investing in cryptocurrencies.

Here are a few excerpts:

“You know, Mt. Gox was … really the first Bitcoin exchange. They got started by this hacker guy who put it together and was suddenly running a $100 million Bitcoin exchange. That’s sort of a recipe for disaster. … This is the ultimate creative destruction of capitalism. There’s a huge market opportunity for people who know how to do this right, to step in and do it—and already we have exchanges that are better run than Mt. Gox.”

“I think that it will be very common to send digital money over the Internet, just like it’s common to send digital information over the Internet today. … You can’t put the Internet back in the bottle, and Bitcoin is just one more extension of Internet technology changing the way that we interact with each other.”

“I guess [the government] will try the typical tactics of vilification, of trying to associate Bitcoin with black markets and terrorism and money laundering and all that kind of thing. They will try to slander it, but that’s really not going to work. I think there is a certain inevitability of fiat money losing to what I call hard digital currencies, and I don’t see them as being stoppable … they’re just really going to waste a lot of taxpayer money and time.”

“I would say that Amazon accepting Bitcoin will be at the tail end of it. You know, Amazon is a large company, they move slowly. They’re not going to be an early adopter. By the time it’s on Amazon, it will already be widespread.”Sound Money Radio host Andy Duncan speaks with Erik Voorhees about the collapse of the popular Bitcoin trading exchange Mt.Gox and the implications of this for the ongoing future of cryptocurrencies.  Erik is the cofounder of Coinapult, a popular Bitcoin transfer website.


| Digg This Article
 -- Published: Wednesday, 19 March 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2018



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.