I think eventually, these currencies have a finite life. The dollar that we have now is just a piece of paper backed by nothing. Over time, ans somemeans just guaranteed to lose money. But i think whether the dollar, or any national currency can maintain relevance over time compared to better money like bit coin, or even ether anything, it's yet to be seen.
The Sunday Times’ tech correspondent Danny Fortson brings on Jesse Powell, founder of crypto exchange Kraken, to talk about his first startup selling video game virtual goods (3:00), reading about bitcoin (9:40), why he thinks bitcoin will replace gold (12:00), launching Kraken (12:50), getting a banking license (15:00), selling tens of thousands of bitcoin (17:00), how widespread crypto actually is (20:40), the inherent weakness in the market (26:00), the Mt Gox bankruptcy (27:40), the impending failure of fiat currency (31:40), the power of the current system (34:35), raising just $20 million (36:00), and reaching the masses (40:00).
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