Bitcoin was worth 400 dollars at the time that it went down. If you get your coins back, you're up a hundred x. You made out pretty well in the grand scheme of things. But if you had a mortgage to pay or anything, you were in screwd, really bad shape. And i wouldn't tell my grandma to go set up a self custodio wallet and manage for private keys. I would just say, "Go set up a crack ing account"
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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